HomeMy WebLinkAbout0972 C. NOTIC~
l;nifo~m Co~enint 1~ of the Se:ur~ty Instrumcnt is amended to rcad u follows:
1~. Notice. Except for any notice requ~red undcr applicable law to be ~iYcn ~n another manner, (a) any noticc to
Borrower provided for in this Secunty Instrument shall be `iven by dcliverint it or by mailing it by first class mail
addressed to Borrower at the Property Addras or at such other address u Bonower may designate by notice to Lender as
pro~ided herein. and (b) any notice to Lcndet shall be givrn by first class mail to Lender's ad~ress stated hertin or to such '
other address at Lender may daignate tty notict to Borrower u providcd herein. Any notice providtd for in this Security
I~strument shafl be damed to have been given to Borrower or Lende~ when given in the manner designated herein.
D. UNIFORM SECURITY INS1'RUMENT; GOYERN[NG LAW; SEVERABILiTY
Uniform Covenant IS of the Stcurity Instrument is amended to read as follows:
1S. Unitorm Sccdrity lustrnme~t; Govcrei~~ Law; Severabilitr. This form of Security Instrument combines uniform
co~enants for national use and non-uniform covenants with limited variacions by jurisdiction to constiwte a uniform
security instrument covering real property. This Security lnstrument shall be governed by federal law and the law of the
jurisdiction in which the Propeny is tocated. In the event that any provision or clause of this Security Instrument or the I
Note conflicts with applicable law, s~ch conflict sha11 not affect other provisions of this Security Instrument or the Note
which can be given effect without the conflicting provision, and to this end the provisions of this Security Instrument and
the Note are declared to be severable.
E. TRAIYSFER OF THE PROPERTY OR A BENEFICIAL INT~REST IN BORROWER
Uniform Covenant 17 of the Security Instrument is amended to read as follows:
1~. Transfc~ ot tbc Property or a Beneficial Iatercst in Borrow~er. [f all or any part of thc Property or an interest therein
is sold or transferred (or if a beneficial interest in Borrow~r is sold or transferred and Borrower is not a natural person)
without Lender's prior written consent, Lender may. at Lender's option, declare all the sums secured by this Security
[nstrument to be immediately due and payable. However, this option shall not be exercised by Lender if exercise is
prohibited by Federal taw as of date of this Security Instrument.
If Lender exercises such option to accelerate, Lender shall mail Borrower ~otice of acceleration in accordance with
paragraph 14 hereof. Such noticc shall provide a period of not less than 30 days from the date the notice is mailed within ~
' w~hich Bonower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such periud.
~ Lznder 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 Instrument '
~ unless Lender has releascd Borrower in writing. ~
s ~
; F. COVENANT DELETED
Non-Uniform Covenant 21 of the Security Instrument ("Future Advances") is deleted. '
G. LOAN CHARGES '
~ If the loan secured by the Security [nstrument is subject to a law which sets maximum loan charges, and that law is finally
i interpreted so that the interest or other loan charges collected or to be collected in connection with the loan exceed
! permitted limits, then: (1) any such loan charge shall be reduced by the amount necessary to reduce the charge to the
~ permittcd limit; and (2) any sums already coilected from Borrower which exceeded permitted limits will be refunded to
~ Borrower. Lender may choose to make this refund by reducing the principa! 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.
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€ H. LEGISLATION
F If, after the date hereof, enactment or expiration of applicable laws have the effect either of rendering the provi~ions of the
~ Note, the Securiry Ins[rument or this Adjustable 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 [nstrument
~ and this Adjustable Rate Rider, or of diminishing the value of Lender's security, then Lender, at Lender's optiun, may
~ declare all sums secured by the Security Instrument to be immediately due and pay~able.
~ . -
~ Iti WITNESS WHEREOF, Borrower has exe~uted this Ad' able Ra Rider.
~
~ . ..........................(Seal)
~ . LE, .7 ~ -Borrower
~ . . . . . ~.-~~c~~ . . . . . . . . . . . . . . . . . . . . . . ( Seal )
~ S ~ H J . BITT -eorrower
~
~
~
(Seal)
• -Borrower
(Sign Orginal Onlyj
**WHICH SHALL BE DETER~~fItiED AT THE TIME OF MnDI~'ICATION OF THE NOTE A~TD MORTGAGE
AS *iORE PARTICULARLY PROVED IN THF RIDER TO THE NOTE. {
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