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faith oontest such lien by, or defend a~aiast eaforameat of such liea ia, le~al prooeedin~a Mhich ia the opinioa of .
Lender operate to preveAt thc enforameat of the liea or forf'eiturt of the Pt+operty or any part theroof; or (c) ahall
sccure fmm the holder of such lien aa agrcement in a form satisfactory to l.ender aubordiaatia~ such liea to thia
Security Inswmeat. ~
lf Lender determines that all or any part of the Property is aubje~x ~o a tien which auy attaia a priority over t!~
Security Instrument, l.ender shali Qive Bornower a aotia idendtying such lien. 8orrawer shall satis~r such Gen or take ~
oae or more of the actions set forth above aithia ten days of the givin~ of the notia.
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G NOTICE ~
Uniform Covenant 14 of the Security laswment is amended to read as follows: ~
14. Notka Exapt for any noda rcquired under apPlicable law to be given ia another manner, (a) any notioe w ~
Borrower provided for in this Security Instrument shall be given by deliveriag it or by maiting it by first dass mail to ~
Borrower at the Property Addras or at such othcr address as Borrower may desigaate by notia to Lender as provided
herein, aad (b) any notice to Lender shall be given by fi~st dass mail to Lendet's address stated her+ein or to such
other addr~ess as I.ender may designate by notia to Borrower as provided herein. Any noaa provided for ia this
Security Instrument shall be deemed to have been given to Borrower or Lender whea given in the manner designated
heroia. _ ~
D. UNIFORM SECURITY INSTRUiv1ENT; GOVLRNINC LAW; SEVERABILITY }
Uniform Covenant 15 of the Security Inswment is amended to read as follows:
1S. UoNorm Security Iastrumeah, Gorerniag Law; Serenbility. 11?is form of Security Inswmeat oombiaes uniform :
covenants for national use and non-uniform oovenants with limited variations by jurisdiction to o~nstitute a- uniform `
securiry instrument ooveriag real propercy. This S~curiry tastrument shall be governed by Federal law and the law of
the jurisdictioa ia which the Property is located. In the eWent that any provision or clause of this Security Inswment
or the Note o~nflicts with applicable law, such oonflict shall not aBect other provisions of this Security Iaswment or
the Note which can be given eH'ect without the o~nflicting provision, aad to this end the provisioas of this Securiry
Instrument and the Note are declared to be severable.
E. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BOR~tOWER -
Uniform Covenanf 17 of the Security Instrument is amended to read as follows:
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17. Tna4fer ot the Property or a Beaeficial Interesi ie.Borrower. If all or any part of the Pr+~pecty or an interest
therein is sold or transferred (or_if a beneficial incerest in Borrower is sold or transferned and Borrower is not a natural
person ) withnut L.ender's prior written oonsent, Lender may, at Lender's option, declare all the sums secured by this
i Security Instrument to be immediately due and payable. Howevar, this opdon shall not be exercised by Lender if _
i exercise is not authoriud by Federal law.
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' If Lender ea~ercises such option to accelerate, Lender shall mail Bornower noace of aooeleration in ac~oordanae with
paragraph 14 hereof. Such aocice shall provide a period of not less thaa 30 days from the date the notice is mailed
within which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior w the expiration of
such period, Lender may, without further notice or demand on Borrower, iavoke any remedies permitted by
paragraph l8 hereof. '
Notwithstanding a sale or transfer, Borrower will oonanue to be obligated under the Note aad this Security
Inscrument unless Lender has released Borrower in wriang-
F. LOAN CHARGES
If the loaa secured by the Securiry Inswment is subject to a law which sets mauimum loan charges, and that law is
finally interpreted so that the interest or other loan charges oollected or to be oollected ia oonnection with the loan
~ exceed permitted limits, thea: (1) any such loan charge shall be reduced by the amount neassary to reduce the
charge to the permitted limit; and ( 2) any sums already oollected from Botrower which eaceeded permitted limits will
~ be refunded to ~ornower. I.efltier may, choose to ma~e this refund by reduciag the principal owed under the Note or
~ by. malcing a direct payment to Borrower. lf a refund reduas principal, the reduction will be treated as a partial
~ prepayment uader the Note.
~ IN WrI'1~ESS WHEtEOP~ Borrower has execute~ this Adjuatabk ate Ridet.
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' ~ e ~3 . . ...........................:t..............(Seal)
~ ~ ~ ~7 CHRISTIAN A. CO Y ~
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~ ROGER P0; ~ iiA'' . R~, _eorrowK
~v!!~;;'~, ~ ARDELL D. CONVERY
~ ST. LUCEC
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