HomeMy WebLinkAbout0928 C. NOTICE
Uniforcn Covenant 14 of the Security Instrument is amended to read as follows:
li. NoUce. Except for any notice ~equired under applicable law to be given in another manner, (a) any notice to
Borrower providcd for in this Security lnstrument shall be given by delivering it or by mailing it by first class mail
addressed to Borrower at the Property Address or at such other address az Borrowu may designate by notice to Lender as
provided herein, and (b) any notice to Lender shall be given by first class mail to Lender's address stated herein or to such
other addras as Lendet may daignate by notice to Bonower as providcd herein. Any i:otice provided 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 INSTRUMENT; GOVERNIN~ LAW; SEVERABILI?Y
Uniform Cov~nant 1S of the Security [nstrument is amendcd to read as follows:
15. Unitornt Secu~ity Instrument; Governing Law; SeverAbitlty. This form of Sccurity Instrument combines ~niform
covenants for national use and non-uniform covenants with limited variations by jurisdiccion to constitute a uniform
security instrument covering real property. This Security Instrument shall be govern~d by federal law and the law of the
jurisdiction in which the Property is located. [n che event that any provision or clause of this Security lnstrument or the
Note conflicts with applicable law. such conflict shall not affect other provisions of this Security Instrument or the Note
which can be given tffect without the contlicting provision. and to this end the provisions of this Security Instrument and
the Note are declared to be severable.
E. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTERFST IN BORROWER
Uniform Covenant 17 of the Security [nstrument is amended to read as [ollows:
17. Tnns[er ot the Property or a Bene[icia! Interest in Borrower, if alt or any part of thc Property or an interest therein
is sold or transferred (or if a beneficial interest in Borrower is sold or transferr~d and Borrower is not a natural person)
vvithout I.ender's prior written consent. Lender may. at Lender's option, declarc all the sums secured by this Security
[nstrument to be immediately due and payable. However, ihis option shall not be exercised by Lender i[ exercise is
prohibitcd by Federal law as of date of this Security [nstrument.
I[ Lendes exercises such option to accelerate, Lender shall mail Borrower notice oC acceleration in accordance with
paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within
which Botrower may pay the sums declartd 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 remedies permitted by paragraph 18 hereof.
Notwithstanding a sale or transfer, Borrower will continue to be obligated under the Note and this Security [nstrument
unless Lender has released Borrower in writing.
F. COVENANT DELETED
Non-Uniform Covenant 21 of the Security Instrument ("Future Advances") is deleted.
G. LOAN CHARGES
lf the loan secured by the Security Instrument is subject to a law which sets maximum loan charges, and that law is finally
intcrpreted so that the interest or other loan charges collected or to be collected in connection with the loan exceed
permitted limits. then: ( l) any such loan charge shall be reduced by the amount necessary to reduce the charge to the
permitted limit; and (2) any sums already collected from Borrower which exceeded permitted 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.
N. LEGISLATION
If, after the date hereof, enactment or expiration of applicable laws have the effect either of rendering the provisions of the
~ Note, the Security lnstrument or this Adjustabl~ Rate Rider (other than this paragraph H) unenforceable according to
their terms, or all or any part of the sums secured hereby uncollectable, as otherwise provided in the Security Instrument
and this Adjustable Rate Rider. or of diminishing the value of Lcnder's security, then C.ender, at Lender's option, may
declare all sums secured by the Security Instrument to be immediately due and payable.
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