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i. \UTICE OF CHA\G£S
~
The I~ote Holder will mail or deliver to me a notice of any ~
changes in the Full Payment Aiaount and my monthly payment before
the effective date of any change. The notice will include
information required by lsw to be given me."
B. IAiCRL,1VYS L'lP~IL PRI\C.P.4L °P.:..~:R~~E TG' SEC!?R£n.
Borrower and Leiider recognize that because of the operation and effect
of tlie provisions of the \ote (the "Int~rest Capitalization Provisions"),
the unpaid principal balance of the loan evidenced by the I~ote may exceed
the original indebtedness of $69,550.00 referred to on page one of the
Securit~ Instrument~. Borrower and Lender agree that this Security
Instrument is given not only to secure the pa}ment of the original
indebLedness e~•idenced by the \ote and the other matters reerred to on pase
one of the Security Instrument, but also to secure anp increases in such
principal balance arising b~ the effect of the Interest Capitalization
Provisions. Borxower and Lender agree that the sums which become
outstanding, unpaid and ouing because of the effect of the Interest
Capitalization Pro~~isions and become a part of the unpaid principal balance
are in effect and are deemed to be future advances of principal from Lender
to Borrower and as such are secured by the lien of the Security Instrumenc
as if such sums were advanced from Lender to Borrower on the date of the
execntion hereof. At no time shall the total outstanding unpaid balance of
the loan exceed 12~0 of the original principal amount of the Note. It is
the intent of Borroc:er and Lender that the sums which become outstanding,
unpaid and oc;ing because of the effect of the Interest Capitalization
Provisions are deemed to be '~future ad~•aiices" as provided in Section 697.04,
Florida Statutes (1981) and be and are secured by the lien of the Security
Instrument as of the date of the execution hereof as set forth in such
statute.
C. CHAPGES; LIE\S
~niform Covenant ~ of the Securit~ Instrument is amended to read as follos?s:
4. Char~es; Liens. Borroker shall pay all taxes, assessments~ and other
i charges~ fines and impositioiis attributable to the Propert} khich may attain
~ priorit~ over chis Securit~ Itistrument~ and leasetiold payments or ground- _
~ rents, if aiiS-. in the marir?er prorided under paragraph 2 hc;reof or, if no~
' paid in such manner; b} Borros;er making paSment, when due, directly to the
€
~ payee thereof. Borrower shall promptly furnish to Lender all notices of
~ amounts due under this paragraph, and in the event Borroc:er shall make
4 payment directl}, Borrower shall aromptly furnish to Lender receipts
~ evidencing such pa}ments. Borrower shall promptly discharge any lien which
has priority over this Security Instrument; prot~ided, that Borrower shall
i
s not be required to discharge any such lien so long as borrower: (a) shall
~ agree in writing to the payment of the obligation secured by such lien in a
~ manner acceptable to Lender; (b) shall in good faith contest such lien b~.
~ or defend against enforcement of such lien in, legal proceedings which in
~ the opinion of the Lender operate to prevent the enforcement of the lien or
ft~rfPit~irP nf tha Prnrs?rtv ana~ ..o.-? fl.,+.~.,..c. I..~ .-ti..ti c___ ..t_
---r-~-J ••.••7 t•••••• ••uc.acva~ vi aa~nta Soa.uic atvw I.ItC
~ holder of such lien an agreement in a form satisfactory to Lender
~ subordinating such lien to this Security Instrument.
~ -
~
~ If Lendar determines that all or eny part of the Property is subject to a
~
- lien which may attain a priority over this Security Instrument, Lender shall
~ send Borrower~notice identifying such lien. B~rrower shall satisfy such
~ 2ien or take one or more of the actions set forth above within ten days of ~
~ the gi~ing of notice.
D. NOTIC£ -
Oniform Covenant 14 of the Security Instrument is amended to read as
foilows:
; 14. \otice. EYCept for an~ notice required under applicable law to be
~
gi~•en in anotner manner, (a) an} notice to Borrower pro~ided for ir. this
Securit.- Instrument shall be given hy delivering it or b~ mailing it by
- first class mail addressed to Borros?er at the Propert} Address oz at such
(FLl i'LE4 RIDER - L
11/83
~ M~ 444 ~~~E 953