HomeMy WebLinkAbout0919 D. UnHorm S~curity Instrumant; Governln~ law; S~vlrabfllty '
Undorm Covenant ]5 ot the Secur~ty InsVument ~s amended t~_~ reatl as foltows -
15. Uniform Security InNrum~nt; Governin~ Law; Sw~rability. Th~s form ot Secur~ty insiru~r.e~t comb~nes undorm
covenants for nahonal use and non-~n~torm covenants wdh hm~ted var~at~ons by ~unSiChon to cons!~tu;e a unrtorm secunty
~nst~ument cover~ng real property Tn~s Secunty Instrument shau be govemed by federal iaw and the iaw ot lhe ~unsd~ct~on ~n wh~ch
ehe Properry ~s localed In the event that any prov~s~on or clause of th:s Ser.-ur~ty Instrument or the Note contl~cts ~v~th apphcable law.
such confhcl shall not atlect other prov~s~ons ot this Secunty InsLument or the Note wh~cn can be g~ven effect w~thout the ~
confhct~ng prov~s~on, and to Ih~s end the p~ov~s~ons of th~s Secur~ty Instrument and ihe No!e are deciared to be se~~erable
E. Trsnsfer OI The Property Or A Bene11da1 Interest In Borrower
Ur,~torm Covenant 17 of the Secunty Instrument ~s amended to read as fotlows
17. Transfer of 1he Property or a BenefidN Intarest In Borrower. If a?i or any part ol tne Property or an ~nterest there+n ~s
sold or transferred (or rt a benehc~al mterest ~n Borrower is sold or transferred and Borrower is not a natural person) without Lender s
pr~or ~vntten consent. Lender may. at Lender's opt~on, declare all the sums secured by th~s Secunty Instrument to be ~mmed~atery
due and payable However. th~s opt~on shail not be exerc~sed by Lender ~t exercise is proh~b~ted by Federal law as of Ihe date o'th~s ;
Secur,ty Instrument ~
If Lender exerc~ses such option co acceierate. Lender shal! mail Borrowe! nchce of accelerahon m a~cordance vn!h
paragraph S d hereof Such not~ce shall piov~de a penod of not iess tnan 30 days from the date the not~ce ~s ma~led w~ih~n wh~ch y
Borrewer may pay the sums dec!ared due If Borrower ta~is to pay such sums pr~or ±o the expua?~on ot such penod. Lende; may. ~
w~ihout f~_:rther nos~ce or demand on Borrower. ~nvoke any remed~es perm~tted by ~aragraph 18 hereef Notw~thstand~ng a sate or '
!ranster Borrower v.~~il cont~nue to be obi~gated under the Note and th~s Secunty Instrument unless Lender has released Sorrower ;n
wr~t~ng
F. Loan Charges
!f the loan secured by the Secur!ty Instrument :s sub~ect to a law wn~ch sets max~mum !oan charges. and that law ~s hnally
~r,erpreted se tha? the ~nterest cr etner loan charges coliected or ro be callected ~n connection ~v~th the Ioan exceed perm~tted I~m~ts.
tnen 11 1 any such loan charge shafi be reduced by the amount necessary to reduce the charge to the peren~tted I~m~?. and (2) any
sums aiready collected trom Bo~ rower wh~ch exceeded perm~tted I~m~ts w•~II be refunded to Barrower Lender may chooseto make
th~s refund by rPduc~ng the pnnc~pal owed under the Note or by mak~ng a d~rect payment to Borrower It a returd reduces pnnc~pal.
the reducUOn ~v~lf be treated as a parhal qrepayment under the Note
G. LegislaUon I
If after the da!e hereof enactment o~ exprahon of appl~cabie laws nave the etfect e~ther of rendenng tne prov~s~ons of the II
Note the Securrty Instrument or tn~s Ad;ustable Rate Rider ~other tlian th~s paragraph H i unenforceableaccord~ngto!he~rterms. cr
ali or any part ot tne sums secured hereby uncollectable. as otherw~se prcv~ded in theSecur~ty Instrume~t andth~s Ad;ustable Rate
R~Cer or ot d;m~n~shmg the value of Lender s security. then Lender. at Lender s option. may decla~e al, sums secured by the
Securry instrument to oe ~mmed~ately due and payable
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