Loading...
HomeMy WebLinkAbout0985 faith contest such lien by, or defend a~ainst enforcemcnt of such lien in, legal proctedings which in the opinion of Lender opcrate to prcvent the enforcement of the lien or forCeiture of the Propeny or any part thercof; or ( c) shall ucure from the holder of such lien an agreement in a form satisfactory to Lender subordinatine such lien to this Security Instrument. If L~ndcr determines that all or any part of thr Property is subject to a lien which may attain a priority over this Security lnstrument, Lender shall ~ive 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 eiv~ng of the notice. C. NOTICE Uniform Covenant 14 of the Security Instrument is amcnded to read as follows: 14. Notice. Except tor any notice required under applicablc law to be given in another manner, ( a) any notia to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail to Borrower ac ~ne Property Address or ac such other address as Borruwer may designate by noucr to Lender as provided herein, and (b) any notice to Lender shall be given by 6rst class mail to Lender's address stated herein or to such other address as 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 tu Borrower or Lender when given in the manner designated herein. ~ D. UNIFORM SECURITY INSTRUMENT; COYERNING LAW; SEVERABILITY Uniform Cove~ant 1 S of the Security Instrument is amended to read as follows: 1S. Unitorm Security Instrument; Governing Law; Severability. This torm otSecurity Instrument oombines uniform oovenants Cor national use and non-unifarm covenants with limited variations by jurisdiction to constitute a uniform ucurity instrument covcring rea! proptrty. This Sccurity Instrument shall be governcd by Federal la9v and the law of the jurisdiction in which ehe Property is locaeed. In the event that any provision or clause of this Security Instrument or the Note oonHicu with applicable taw, such conflict shall noe aflecc other provisions of this Security Instrumenc or the Not~ which can be given efCect without the conflicting provision, and to this tnd the provisions of this Security Instrument and the Note are declared to be severable. E. TRANSFER OF TNE PROPERTY OR A BENEFICIAL INTEREST 1N BORROWER Uniform Covenant 17 of the Security Instrument is amended to read as follows: 17. Tr~ruter ot the Property or a Beneficial'lnterest in Borrower. If all or any part of the Property or 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 I.ender's option, declare all the sums secured by this Security Instrument to be immediately due and payable. However, this option shall not be exercised by L.ender if ~ exercisc is not authoriud by Federal law. ~ i If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in acoordanet with ~ s paragraph 14 hucof. Such notice shall provide a period of not less than 30 days from the date the nouce is mailed ~ t within which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period, Lender may, without Curther notice or demand on Borrower, invoke any remedies ptrmitted by ; paragraph 18 hereof. ~ ~ Notwithstanding a sale or transfer, Borrowe~ will continue to be obligated under the Note and this Securiry ~ Instrumcnt unless Lender has released Borrower in writing. s > ~ F. LOAN CHARGE3 ~ If the loan secured by the Security Instrument is subject to a law which sets mauimum loan charges, and that law is ~ finally interpreted so that the interest or other loan charges oollected or to be cntlected in connection with the loan ~ exceed permitted timiu, then: (1) any such toan charge shall be reduced by the amount necessary to redua the ~ charge to the permitted limit; and (2 ) any sums already collected from Berrower which exceeded permitted timits will ~ be rcfunded 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. IC a refund reduces principal, the reduction will be treated as a partial ~ prepayment under the Note. ~ ; In Wrr:v~s WHEteoF, Borrower has executed this Ad'ustable RAte Rider. ~ .....~':..E~ ............(Seal) ~q jtc~sse}3, E. Carro ~ -Borrowe. ~ , y ~ , . . ..(Stal) ` D~lores J. arr 11 -eorrower ~ ~ .............................................................................................................(Seal) ~ -8orrow~r ~ - (Sipn Oripin~l Onlr) ~ f,K ~ ~ ~ ao,~K ~ar,F ~$5 ~ ~ ~ a a% _ - - - - - `~z.~~: .,y.k~ ~~eq^~ 7 ,~~c~„~ ~z:a - - ~ ~ ^~=y'`; ~ I t ~ .