HomeMy WebLinkAbout0925 B. CNAR(;E:~; LIE:\ti
Uni(.~rm C~o~enant d~~t the Se~uritv Instrument i~ amrn~led tc~ read ati folli~~~~:
4. Charges; I.iens. F3urro~~er ;hall pa~ all taxr~, a~~e,~ments, and uther charges, iineti and impo,itic>ns attributabie to the
Property which ma~• attain a~riurity o~er this Sc~urit~~ Instrumcnt, and lea~ehold pa~~ments or ground rents, if any, in the
manner pro~~ided under paragraph 2 hereot~ or, if not ~aid in ~urh manner, by~ Borro~~er making payment, w~hen due,
directl~~ ro che pa~•ee thereof. k3orro~~er shall promptl~~ furnish to l.ender all notices of amounts due under this paragraph,
and in the e~~ent Borrower shall make payment dire~tly, Borro~~•er shall promptly furnish to Lender re~;eipts evidencing such
pa}~ments. Borrower s~w!! promptl~~ di~rharge any lien which has priority over this Security~ lnstrument; however, Borrower
shall not be required to disrharQe am~ such lien so lang as Borro~~er. (a) shall agrce in writing to the p3yment of the
obligation secured by such :ien in a manner a~ceptable to Lender, ~b) shall in good faith contes~ such lien by, or defend
against enfonement of such lien in, legal nrcxeedings w hich in the opinion of Lender operate'to p~went the enforcement of
the iien or forfeiture of the Property or am~ part ~hereof; or (r) shall secure from the holder of such lien an agreement in a
form satisfactory to Lender subordinating wch lien to this Securit}~ Instrument.
If Lender determines that all or an~~ part of the Propertp is subject to a lien ~~hich may attain a priority over this Security
Instrument, Lender shall give BorroHer a notire identifying such lien. Borrower shall satisfy such lien or take one or more
of the actions set forth above within ten days of the gi~•ing of the n~r~~•P
C. NOTICE -
Uniform Covenant 14 of the Securitv Instrument is amended to read as follows:
14. Notice. Except for any notice required under applicable taH~ to be gi~en in another manner, (a) any notice to Borrower
provided for in this Security Instrument shall be gi~~en b~~ deli~ering it or by mailing it by frst class mail to Borrower at the
Froperty Address or at such other address as Borrower may~ designate by notice to Lender as provided herein, and (b) any
notice to Lender shall be given by first class mail to Lender'~ address stated herein or ro such other address as Lertder may
designate by notice to Borrower as pro~•ided herein. Am• notice pro~ ided for in this Security Instrument shall be deemed to
have been given to Borrower or Lender when given in the manner designated herein.
D. UNIFORM SECURITY INSTRUMFNT; GOYE:RVlNG I.AW; SF,VFRABII,ITY
Uniform Covenant 15 oi the Security Instrumen[ is amended to read as follows:
I 15. Uniform Security Instrusnent; Governing I.aw; Se~erabilit~. This form of Security Instrument combines uniform
~ covenanis for national use and non-uniform covenants witn limited variations b
y jurisdiction to constitute a uniform
; security instrument covering real propert~~. This Security Instrument shall be governed by Federal law and the law of the
~ jurisdiction in w~hich the Property is located. In the event that any provision or clause of this Security Instrument or the
Note conflicis with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note
which can be given effect without the conflicting provision, an~ to this end the provisions of this Security lnstrument and
E the Note are declared to be severable.
~ E. TRANSFER OF THE PROPERTY OR A BENEE7C'lAL I'~TERE:~T !N BORROWER -
~
Uniform Covenant 17 of the Security Instrument is amended to read as follows:
~
~ 17. Transfer of the Property or a Beneficial lnteres~ in Borrower. If all or any part of the Property of an interest therein is
~ sold or transferred (or if a beneficial interest in Borr~wer is sold or transferred and Borrower is not a natural person)
~ without Lender's prior written consent, Lender ma~, at Lender's option, declare all the sums secured by this Securiry
~ Instrument to be immediatel~• due and pa~~able. However, this option shall not be e?cercised by Lender if exercise is not
~ authorized by Federal law.
~
~ lf Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
z paragraph 14 hereof. Such notice shall pro~ide a period of not iess than 30 days from the date the notice is mailed u•ithin
which Borrow~er may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period.
Lender may, without further notice or demand on Borrower, invoke any reme~ies permitted by paragraph 18 i~ereof.
r
G Notw~ithstanding a sale or transfer, Borrow~er will continue to be obligated under the Note and this Security (nstrument
# unless Lender has released Borro«er in writing.
F. LOA~i CHARGE:.S
If the loan secured b}~ the Security Instrument is subjec.t 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 permitted
limits, then: (1) any surh loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit;
and (2) any sum~ already collec;ted from Borrower which exceed permiited limits will be refunded to Borrower. Lender may
choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a
refund reduces principal, the reduction will be treated as a partial prepayment under the Note.
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