HomeMy WebLinkAbout0952 (E) Noike of Ctwnges '
The Note N~~Ider will mail or deliver to me a notice before cach Change Date. This n~~tice will ad~•ise me of:
(i) the new interest rate on my loan as of the Change Date;
(ii) the ~mount of my monthly payment ~ollc»ving the Change Date;
(iii) any additional matten which the Nc~ie Holder is required ta disclose; and
(iv) the title and telephone number of a person who wil) ~ns~ver any yuesticros 1 ma}• have regarding the notice.
B. IAAN CHARGE.S ~
It could be that the loan secured by the Security Instrument is subject to a law which sets maximum loan charges and
that law is interpreted so that the interest or ether loan charges collected or to be collected in connection with the loan would
exceed permitted limits. ff this is the case, then: (A) any such charge shall be reduced by the amount necessary to reduce
the charge to the pern~itted limit; and (B) any sums already collected from Borcower which exceeded permitted limits will
be refunded to Barrower. Lender may choose to make this refund try reducing the principal rnved under the Note or by making
a direct payment ta Borrower.
C. PRIOR LIFNS
If Lender determines that all or an} part of the sums by this Security Instrument are subject to a lien which h.as priority
over this Securiry Instrument, Lender may send Borrower a notice identifying that lien. Borrrnver shall promptl~- act with
regard to that lien as provided in paragraph 4 of the Security Instrument or shall promptly secure an agreement in a form
satisfacrory to Lender subordinating that lien to this Security Instrument.
D. TRANSFER OF THE PROPERTY
If there is a transfer af the Property subject to paragraph 17 of the Securiry Inswment, Lender ma}~ require (1) an in- ~
crease in the current Note interest rate, or (2) an increase in (or removal o~ the limit on the amount of any one interest rate ~
change (if there is a limit), or (3) a change in the Base Index figure, or all of these, as a condition of Lender's waiving the ~
option to accelerate as prrnided in paragraph 17. , i
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E. GOVERNING LAW '
The Note and Securiry Instrument are to be construed and enforced in accordance with the laws of the State of Florida
and the law and regu(ations of the United States of America. In the event of conflict between Florida law and the laws and
regulatioas of the Uniteci States of America, then in such event the lav~,~ and regulations of the United States of America shall govern. ,
By signing this, Borrow•er agrees to all of the abo~•e.
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; Paul F. Malth Borrow~er ~
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~ Sherrie L. Malchow Borruwer ~
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~ First Citizens Federal '7U41iZ'7
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'~5 MAY -2 P 3 ~1 +
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E ''K 46~ PA~~ 948
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