HomeMy WebLinkAbout0979 • DUE-ON-SALE RIDER
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THiS RIDER is made ~his - - - . . ~7.kh . . . . day of . . . . ~Pt~!~r . . . . . . . . . . . . . . . . . . . . . . t9 8.4
.;;~d is incorporatod Into and shaU be doemad to amond and supplement the Mortgage, Deed of Trust or Sec~~r~ty Oeed
~;he "Security Insirumant") of the same dato givon by the undors~gne~ ~the "Borrower") to socure Borrovrer's Ad~ustab~e
n .-~.1 C_a~.~~ CY-~_~V A-- -~-•~v :
n~it8 N~ie (th8 "Nafe"} t0 . . . . . . . ' : ~ • . . . . . . .
(t~~o "Lender") of the same date and covering the property descnbed in the Security Instrument and located at:
...............3201.~Iorth.AlA,,Apartment #1101, Fort Pierce, Florida 33449
(Property Address)
ADDITIONA~ COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower I
an~i Lender further covenant and agree as tollows: ' _ '
Uniform Covenant 17 0( the Security Instrum~nt is amended to read as follows:
Trans(er of the Property or a Boneticial Interest in Borrower. Ii all or any part ot the Property or any interest ~n ~t is
sold or transferred (or if a beneficia! interest ir~ Borrower is sold o~ transferred and Borrower is not a natural person) w~thout
l F~fl(j~?f~$ ~fl(1f }yflt(A(1 [`Qf1CPI1f_ ~~(l~A~ ~~V; ~t ite nntin~_ ran~iirn immarli~fP ~?avrnQnt in (iil) ~l al) c~im~ ~°~~~rorl hl ~h:5
Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as ol
the date of this Security Instrument. Lender also shall not exercise this option if; (a) Borrower causes to be subm~tted
to Lender intormation required by Lender to ovaluate the intended transferee as if a new loan were being made to the
truns(eree; and (b) Lender reasonably determines that Lender's security will not be impaired by the loan assumpt~on and
~hat the risk of a breach of any covenant or a~reement in this Security Instrument is acceptable to Lender.
To the extent permitted by applicable law. Lender may charge a reasonable tee as a condition to LPnder's consent
tlie loan assumption. Lender may also require the transteree to sign an assumption agreement that is acceptable to
~ender and that obligates the transferee to keep all the promises and agreements made in the Note and in this Secur~ty
Instrument. Borrower will continue to be obligated under the Note and this Sec~rity Instrument unless Lender releases
~~rmwer in vrriting.
If Lender exercises ihe option to require immQdiate payment in full, Lender shall give Borrower notice of accelerat~on.
'~~e notice shal! provicie a period of not less than 30 days from tt~e date the notice is delivered or mailed w~th~n wh~ch
B~rrower must pay all sums secured by this Security Instrument. It Borrower fails to pay these sums prior to the exp~rat~on
of t~is period, ~ender may invoke any remedies permitted by this Security Instrument without iurther notice or demand
en Borrower.
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' SY SIGNING BEL01Pl, 6orrower accepts and agrees to the terms and covenants contained in this Rider.
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