HomeMy WebLinkAbout0947 DUE ON FURTHER ENCUMBItANCE RIDER
NOTICB: THIS RIDER ADDS A PROVISION T(3 TNE SECURITY INSTRUMENT ~
PROa~BITING THE HORROWER FROM PURTNER ENCIIMBERING THE PROPERTY. ~
6
This Rider is made this 31 day of Jarn~ary . 198~, ~
and is incorporated into and shall be deemed to amend and supple- ~
ment the Mortgage, Deed of Trust, or Deed to Secured DeDt (the
"Security Instrument") of the same date given by the undersigned s
( the "Borrower" ) to secure 8orrower' s Note to ~r ~
AI~ID IA~1 AS.SOCIATIOiN ( the "Lender" ) of the same date - ~
(the "Note") and covering ~he property described in the Security
Instrument and located at ~774 Manrh Ta?,P~ Prn-r Sr T~,~;A~ Fr 33La5~ • !
(Property Address)
In addition to the covenants and agreements made in the
Sec urity Instrument, Borrower and Lender further covenan~ a~d '
agree as follows: ~
A. PROHIBITION OF FURTHER ENCUMBRANCS
The Security Instrument is amended to include the following
as an additional covenant of eorrower: ;
~
24. Agreement• Not to Further Enc~anber. As part of the ~
inducement for Lender to Make the Loan evidenced by the Note and d
Mortgage, Borrower covenants and agrees not to mortgage, finance, t
or otherwise further enc~.o~nber any interest (either legal or ~
beneficial? in or any part of the Property, without the prior ;
written consent of Lender. In the event any such encumbrance is '
made by the eorrower, Lender, at Lender's option, may declare all
the sums secured by the Mortgage to be immediately due and pay-
able. If Lender exercises such option to accelerate, Lender
shall mail Borrower notice of acceleration in accordance with
paragraph 14 hereof. Such notice shall provide a period of not
less than thirty (30) days from the date of notice is mailed
within which Borrower may pay the sums declared due. If Borrower
fails to apply such su¢~s prior to the expiration of such period,
Lender may, without further notice or demand on Borrower, invoke
any remedies permitted by paragraph 18 of the Mortgage,
IN WITNESS WHEREOF, Borrower has executed this Rider.
~
C~iL~-~"` / L .
)
~R~.T~ P. RIGHARD - eorrower ~
~ ~
,
~ ~
~ ` 1- ` 1 (SEAL)
HEi~1 M. RI(~~RD - Borrower
~:)i~+ ~
-~'r p1.13 ,
~
~ +
. ~
fILE~ t,!~"' , • - . : ~ ~
~STGj,UC E CtiUNT''•
8D~ ~
~
F US 004 -0684 -