HomeMy WebLinkAbout0969 B. CHARGES; LIENS ~
Uniform Cover~ant 4 of tl~e Security l~strument is amendod ta rea~i as follows: .
C~arYe~ I,ie~. 8orrowcr shall pay all taxes. assessments. and othe~ chargcs. fines and impositio ~ a~ ~utabk to~, ~
Property which may attain a priority aver this Sccurity lnstrume~t, and leasehold payments or ground~eift3, if any~.in~he ~
manner provided under paragraph 2 hereof or. if not psid in such manner, by Borrower making paymenl~ when due.
directly to the paya thereof: Borrower shall promptly furnish to Lender ali notices otamounts due under this psragraph.
and in the event 8orrower shall make payment directly. Horrower shall promptly turnish to Lender receipts evidencing
such psyments. 8orrower shall promptly discharge any lien which has priority over this Security Instrummt; pmvided.
thst Borrower shall not be requirod ta dischsrge any such lien so long aa Horrower: (s) shall agroe in writing to the
payment of the obligation secured by such lien in a manner acceptable to i.ender, (b) shall in good faith rnntest such lien ~
by, or defend against enforcement of such lien in~ legal proceedings which in the opinion of Lender operate to prevent the
enforcement of the lirn or forfeiture of the Property or any part thereof; or (c) shall socurc from the holder of such lien an 4
agrament in a form satisfactory to Lender subordinating 3uch lien to this Security lnstrument. }
It Lender determines that all or any part of the Proptrty is subject to a lien which may attain a priority over this Security
lnstrument. Lender shall send Bonower noiice identitying such lien. Borrower shall satisty such lien or take one or morc of ~
the actions set torth above within ten days of the giving of notice.
C. NOT~CE ~
Uniform Covenant 14 of the Security lnstrument is amended to read as tollows:
14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to
Borrower provided for in this Security lnstrument shaU be given by delivering it or by mailing it by first class mail
addressed to 8orrower at the Property Address or at such other address as Borrower may designate by notice to Lender as
provided hercin. and (b) any notice to Lender shall be given by first class mail to Lender's address statod herein or to such
other address as Lender may designate by notice to Horrower as providcd herein_ Any notice provided for in this Security
lnstrument shall be dcemed to have been given to Borrower or Lender when given in the manner designated herein.
D. UNIF(~RM SECURITY INSTRUMENT; GOVERNING LAW; SEVERABILITY
Uniform Covenant 1 S of the Security lnstrument is amended to read as follows: ~
1S. Unifon~ Security Instrument; Coverning L~?; Se~erability. This form ot Security Instrumrnt combines uniform
coyenants for national ux and non-uniform covenants with limited variations by jurisdiction (o constitute a unitorm
security instrument covering real propen~_ This Security Instrument shall be governed by federal law and the law of the
jurisdiction in which the Propeny is located. In the event that any provision or clause of this Security Instrument or the
Note conflicts with applicable law, such con8~ct shall not affect other provisions of this Security Instrument or the Note
which can be given effect without the confli: ting provision. and to this end the provisions of this Security Instrument and
the Note are declared to be sev~rable. ,
E. TRANSFER OF THE PROPERTY QR A BENEFICIAL INTEREST IN BORROWER
Uniform Covenant 17 of the Security tnstrument is amended to read as follows:
17. Tnnsfer of the Property or a Beneficisl Interest in Borrower. If all or any part of the Property or an interest therein
is sold or transferred (or if a beneficial interest in Borrower is sold or transferced and Borrower is not a natural person)
arifhout Ltnder's prior written consent. Lender may, at Lender's option, declare a!I the sums secured by this Security
Instrumrnt to be immodiately due and pay°able. However, this option shall not be exercised by -Lender if exercise is not
authorized by Foderal law.
If Lender eaercises such option to accelerate. Lender shall mail Borrower notice of acceleration in aceordance with
y paragraph 14 hereof. Such notice sha11 provide a period of not less than 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 to the expiration of such period, '
~ I.ender may, without further notice or demand on 8orrower. invoke any remedies permitted by paragraph 18 hereof.
F. COVENANT DELETED
~ Non-Uniform Covenant 21 of the Security Imtrument ("Future Advances") is deleted.
G. LOAN CHARGFS ~ "
If the loan secured by ihe Security In~trument ic subject to a law which sets maximum loan charges, and that law is finally
interpreted so that the interest or other loan charges collected or to be collected in connection with the loan exceed
permittod limits, then: (1) any such loan charge shall be reduced by the amount necessary to reduce the charge to the
permittod limit; and (2) any sums already collected from Borrower which exceeded permittod limits will be refunded to ~
Borco:ver. Lender may choose to make this refund by reducing the principal owod under the Note or by making a direct
paymrnt to Borrower. If a refund reduces principal, the reduclion will be treated as a partial prepayment under the Note.
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~ H. LEGISLATION
If, after the date hereof. enactment ur expiration of applicabie laws have the effect either ot rendering the provisions of the
Note. the Security Instrument or this Adjustable Rate Rider (other than this paragraph H) unenforceable according to
; their terms. or all or any part ot the sums secured hereby uncollectable, as otherwise provided in the Securiry Instrument
~ and this Adjustable Rate Rider, or of diminishing the value of Lender's security. thrn Lender, at Lender's option, may
declare all sums secured by the Security Instrument to be immediately due and payablc.
~ IN WITNESS WHEREOF. Borrower has eaecutod t' justabk Rate ' er.
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PAMELA W. NORVELL -Borrower
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