HomeMy WebLinkAbout0920 D. Unitorm Security Inst~umtnt; Governin~ Law; S~v~rabfllty
Un~torm Covenant 15 0~ the Sec~nty Insirwnent ~s amended t.~ read as fullows
15. Unitorm S~cu~iiy Instrum~n~ Gov~rnln~ l~w; Swtrab(Uly. Th~s torm ot Secur~ty In;trun,en~ car,ti,nes urnform
cu~er~a~~ts tor nat~onal use and non-urniorm Covenanls with hmited vanat~ons by ~uns~ct~on to conshtote a urnlorm s°cunty
+nstrument covenng rea~ property Tt~~s Secur~ty Instrument shall be governe~ by tederat law andlhetaw of the~unsU~ct~on ~n wh~ch
the Property ~s tocatect In the event ihat any prov~s~on or clause ol this Secunty !nstrument a the Note con~l~Cts w~lh appl~cable law
:uch conH~ct shaal not altect other prov~s,ons of th~s Secunty i~istrument or the Note wh~ch can be g~ven elfect ~v~thout the
conll,chng prov~s,on. and lo th~s end the prov~s~ons ot Ih;s Secur~ty Instrument and the Note are declared to be severabie
E. T~anster Of Th~ Property Or A B~nefidal Inter~st in Barrow~r
Lrntorm Covenant 17 of the Secunty Instrument ~s amended to read as follews
17. Transler of the Property nr a Benefidd Interest in Borrower. if ali or any part of the Property or an ~nterest there+n ~s
soid or Vansferred (or ~f a benehc~al ~nterest m Borrower ?s soldor transferred and Borrower ~s not a naturat person) w,tho~,t Lenoer s
pnor w~rtten consent. Lender may. at lender's ~pt~on, dec?are aH the sums secured by th~s Secunty instrument to be ~mmed~ately
~7ue and payabfe However th~s opt~on shall not be exerc~sed by Lende! ~f exerc~se ~s proh~ated by Federal law as of the date ct th~s
Secur~ty Insirument
It Ler,de~ exeic~ses such opt~on to accelera;e. Lender sha!I ma~l Borrower not~ce ot accelerat~on m accordance w~!n
;;arayraph 14 hereof Such not~ce sha~l provide a per~od of not less than 30 days from the date the not~ce ~s ma~led w+th~n w~~ch
Sonower may pay the sums deciared due If 8orrower fa~fs to pay such sums pnor tc the expuat+on of such per~od. Lender may.
w~thout further no?ice or demand on Borrower invoke any remed~es pe~mrtted by paragraph 18 hereot Notw~thstand+ny a saie or
transfer. Borrower w~ll conUnue to be obhgated under !ne Note and th~s Secunty Instrument un~ess lender has released Borrower ~n
~.tintmg
F. Loen Cha~ges
It ihe loan secwed by the Secu~ity Instrument is sub~ect to a law which sets m~;mum loan charges, and that law ~s t~nally
nterpreted so that the+nte~est or other loan charges collected or to be collected ~n connect~on w~ththe Ioan exceed perm~tted I~m~ts.
!hen ~ t~ any such Ican charge shall tre reduced by the amount necessary to reduce the charge to the perm~tted I~m~t, and (2i any
sums already collected from Borro~Yer wh~ch exceeded perm~tted I~mits w~li be refunded to Borrcwer Lender may chooseto make
th~s ~etund by reducmg the pr,nc~Ual owed under the Note or by mak~ng a d~reci payment to Bo~roNrer !r a relund ~educes pnnc~pal.
±he reduchon ~v~ii be treated as a partial prepayment under thp Note
G. legislation
If, after ine date heFeof, enactment ar exp~rat~on ot appl+cab~e laws have the effect e~ther of render~ng t7e prov~s~ons of tne
Note the Secur;ty !ns!rument or ,h~s Ad~ustable Rate R~der !othe! th2n this paragraph H~ uneniorceable accord~ngto ;hei? terms. or
a~, or any part oi the sums secured hereby uncolieclable. as otherw~se prov~ded ~n the Secunty Instrument andth~s Ad~ustable Rate
R~d~r or of d~m~rnsh~ng the value ot Lender s secunty, the~ Lender. at Lender's opt;on. may declae a!~ sums secured by the
Secur;ty Instrument to be immed~a'.e!y due and payable
iU Wi?NESS VJHERFCF Borr~,:.er ~as exrc~ted ;~~s Adiustab!e Rate R:de~ _
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