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HomeMy WebLinkAbout0932 ~ . B. CNARG~ti; l.ic:ti5 Uniform Covenan, 4 ~f the Sc~urity Instrume~t is amended ro ~ead as follows: I. Charges; Liens. Borrower shall pay all taxes, assessmenu, and other charges. fines and imposi~ions attributable to the Property which may attain a priority over this Security Instrument, and leasehoid pay~ments or ground ren?s. if aay. in the inanner provi~ed under paragraph 2 hereof or, if not paid in such manner, by Bonow•er making payment. when due. directly to the payee thereof. t3orrower sha?I promptly furnish to Lender all notices of amounts due under this paragraph. , and in the event 3orrower 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; howevcr, Borrower ~ shall not be required to discharge any such lien so long as Elorrower; (a) shall agree in writing to the payment of the ~ obligation secured by such I~en in a manner acceptabfe to Lender; (b) shall in good faith contest such lien by, or defend against enforcement of such lien in, legal proceedings which in the opinion of Lender operate to prevent the enforcement of the Gen or forfeeture of the Property or any part thereof; or (c) shal! secure from the holder of such lien an agreemcnt in a form satisfactory to Lender subordi:~ating such lien to this SPcurity Instrument. If Lender determines that aIl or any part of the Property is subject to a lien which may attain a priority oJer ihis Socurity lnswmcnt, Lender shall give Borrower a notice identifying such lien. Borrower shall satisfy such lien or take one or a~oct of the actions set forth above ~vithin ten days of the giving o~ the notice. C. NOTICE Uniform Covenant 14 of the Security lnstrument is amended to read az follows: 14. Notke. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in this Security Irutrument shall be given by delivering it or by mailing it by first class mail to Borrowa at ihe Property Address or at such other address as Bonower may designate by notice to Lender as provided hcrein, and (b) any ; notice to Lender shall be given by first class mail to Lender's address stated herein or to such other address as L.cnder may ; designate by notice to Borrower as provided herein. Any notice provided for in this Security lnstrument shall be doemed to have been given to Borrower or Lender when given in the manner designated herein. D. UNIFORM SEC1JRl'TY INSTRU~fENT; GOV£RNING LAW; SEVERABILITY 'I Uniform Covenant 15 of the Security Instrument is amer.ded to read as follows: 15. UQlfonai Securi/y I~ment; Governieg Ls~w; Seve~abiG!y. This form of Security Inswment combir~es uniform . covenants for national use and non-uruform cov_nanu with limited variations by jurisdiction to constitute a tiniform ~ ; sa~urity instrument rnvering 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 provis~on or clause of this Socurity Instrur~xnt or the ` ~ ' ~ Note cunflicts with applicable law, such conflict shall not affext other provisions of this S~c.vrity Irutrument or ths Note which ran be given effect without the conflicting provi~ion, and to this end th~ pravisions of this Sa~rity Inswment and thr Note are declarod to be severable. ~ E. 'TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER ~ i Uniform Covenant 17 of the Secu~ity lnstrument is amended to read a~ follows: l7. 'Tra~ter of tbe Property or a Ber+efirial tnterest in Borrower. If all or any part of the Property of an interest therein is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) . without Lender's prior written consent. Lender may, at Lender's eation, declare all the sums securod by this Security ; Instrument to be immediately due and payabte. However, this option shall not be exercised by Lender if exercise is not ; ~ authorizod by Federal law. . ~ If Ixnder exercises such optior. to acce~erate, Lender shall rrnail Borrower noiice of acceleration in aocordana with paragraph I4 hereof. Such notice shall provide a period of not less than 30 ctays from the date the notice zs maikd within which Bc.rrower may pay the s»ms declared due. !f Barrower fails to pay such sums prior to the expiration of such period, i.ender may, without further nocice or demand on Borrower, invoke any rer~edies oer:nitted by paragraph 18 hereof. Notwithstanding a sale or traruft~, Borrower will continue to be obligated under the Note and this Security Imwment unless Lender has released Borrower in writing. ~ ~ F. LOAN CHARGFS F If the Ic+an secured by the Security Instrument is subject to a law which sets maximum loan charg~, and that law u finally I ~ inte~preted so that the interest or ather loan charges collertd or to be collected i~ connection with the loan exooed permitte~ - limits, then: (I) any such loan charge shall be reduced by the amount necessary :o reduce the charge to the perm;tted limit; and (2) any sums already coUected from Batr~wer which e~cc~eed pernutted Gmits will be refunded to Borrower. L.ender may ' choose to make :h.is refund by reducing the principal owed under the Note or by making a direct payment to Bnrrowa. If a refund reduces principal, the reduction will be treated as a partial prepayment under the Note. ~ . ~ . BO~K ~t~ P~rf . . ~ ~ ~ ~ - - , _ . _ _ _ .