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HomeMy WebLinkAbout0970 , . B. CHARGES; LIENS Uniform Covenant 4 of the Security Instrument is amended to read as follows: 4. ChArges; Liens. Borrower shall pay all taxes, assessments, and other charges, fines and im~x:sitions auributable to the Property which rnay attain a priority over this Security Instrument, and leasehoid payments or ground rents, if any. in the manner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the payee thereof. liorrower shall promptly furnish to Lendzr all notices of amounts due under this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Security instrument; however, Borrower shall not be required to discharge any such lien so long az Borrower: (a) shall agree in writing to the payment of the obligation secureti by such lien in a manner acceptabte to Lender; (b) shall in good faith contest such lien by. or defend against enforcement of such lien in, legal Froceedings which in the opinion of Lender operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof; or (c) shall secure from the holder of such lien an agreement in a form satisfactory to Lender subordinating surh lien to this Security Instrument. If Lender determines that all or any part of the Property is subject to a lien which may attain a priority over this Security Instrument, Lender shall give Borrower a notice identifying such lien. Borrower shall satisfy such lien or take one or more of the actions set forth above within ten days of the giving of the notice. C. NO?ICE Uniform Covenant 14 of the Security Instrument is amended to read as follows: 14. Notke. Except for any notice required under applicable taw• to be given in another manner, (a) any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail to Borrower at the Property Address or at such other address as Borrower may designate by notice to l.ender as provided herein. and (b) any notice to L.ender shall be given by first class mail to Lender's address stated herein or to such other address az Lender may designate by notice to Borrower as provided herein. Any notice 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 SECiJRiTY [NS'I'RUMENT; GOVERNING LAW; SEVERABILITY Uniform Covenant 15 af the Security lnstrument is amended to read as follows: - 15. Uni[orm Secarity Instrument; Governing Law; Severability. This form of Security Instrument combines uniform rnvenants for national usc and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. This Security Instrument shall be governed by Federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security I~utrumtnt or the Note conflicts with applicabie taw, such conflict shall not affect other provisions of this Security Instrument or the Note f which can be given effect without the conflicting provision, and to this end the provisions of this Security Instrument and ~ the Note are dxlared to be severable. i ~ E. TRANSFEIS OF TNE PROPERTY OR A BENEFIC[AL INTEREST IN BORROWER Uniform Covenant 17 of the Security Instrument is amended to read as follows: ~ l7. Tra~ter of the Property or a BeneC~ciRl Interest in Borrower. If all or any part of the Property of an interat thertin is sold or transferred (or if a beneficial interest in Borrower is sold or t•ansferred and Bonower is not a natural person) without Lender's prior written consent, Lender may, at Lender's option, declare all the sums secured by this Savrity Instrument to be immediately due and payable. However, this option shall not be exercised by Lender if exercise is not authorized by Federal law. If'Lender exerrises such option to accelerate, Lender shall mai! Borrower notice of acceleration in accordana with paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed with:n which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period, L.ender may~ without further notice or demand on Borrower, invoke any remedies pern~itted by paragraph 18 htreof. Notwithstanding a sale or transfer, Borrower will continue to be obligated under the Note and this Security Instrument unless Lender has released Borrower in writing. ~ F. LOAN CHARGFS ~ ~ If the loan secured by the Security Instrument is subject 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 excad permitted ~ iimits, then: (1) 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 exceed permitted limits wiU 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. ~ au~ ~55 P~c~ ~ ~ ~ ~ ~ _ _ _ - .~~~x .a: ~ _ . ~ r~,.: . ~ ~ - -