HomeMy WebLinkAbout0967 12. Loan Charges. If the loan secured by this Security Instrument is subject to e law which sets
maximum loan charges, and that law is finally interpreted so thai the interest or other loan charges
collected or to be collected in eort,-~ection with the loan exeeed the permitted limits, then: (a) any ~
such loan charge shall be reduced by the amount necessary to rechice the charges to the permitted ~
limit; and (b) any sums already collected from Borrower which ex~eeded permitted limits will be ;
refunded to Borrower. Lender may choose to make this refund by redueing the prineipal owed under =
the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will ~
be treated as a pertial prepayment without any prepayment charge under the Note. ~
13. Legislatian Affecting Lender's Rights. If enaetment or e~iration of applieable laws has the ~
effect of rendering any provision of the Note or this Security Instrument unenforceable according to ~
its terms, Lender, et its option, may require immediate payment in full of all sums secured by this ~
Security Instrument and may invoke any remedies permitted by paragraph 19. If Lender exercises this
option, Lender shall take the steps specified in the second paragraph of paragraph 17. ~
14. Notices. Any notice to Borrower provided for in this Security instrument shall be given by ~
delivering it or by mailing it by ficst class mail unless applicable Iaw cequires e~e of another method.
The notice shall be directed to the Property Address or any other address Bacrower designates by
notiee to Lender. Any notice to Lendec shall be given by first elass mail to Lender's address stated
herein or any othec address Lender designates by notice to Borrower. Any notice provided for in this
Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided
in this paragraph.
15, Governing Law; Severability. This Security Instrument shall be governed by federal law and the
law of the jurisdiction in which the Property is iocated. In the event that any provision or clause of
this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other
provisons of this Security Instrument or the Note which can be given effeet without the conflicting
provision. To this end the provisions of this S~curity Instrument and the Note are declared to be
severable.
16. Boa rower's Copy. Borrower shall be given one conformed copy of the Note and of this Security
Instrument.
17. Transfec of the Property or e Benefieial Interest in Borrowec. If ail or any part of the Property or
any interest in it is sold or transferred (or if a beneficiat interest in B~rrower is sold or transferred and
Borrower is not a natural person) without Lender's prior written consent, Lender may, at its option,
require immediate payment in full of all sums secured by this Security Ir~strument. However, this
option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this
Seeurity Instrument.
If Lender exercises this option, Lender shail give Borrower notiee of acceleratian. The notice
shall provide a period of not less than 30 days from the date the notice is delivered or mailed wi~hin 1
which Borrower must pay ali sums seeured by this Security instrument. If Borrower fails to pay these '
sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security
Instrument without further notice or demand an Borrower.
18. Bvrrower's Right to Reir~state. If Borrower meets cextain conditions, Barower sharl have the
right to have enforeement of this Security Instrument discontinued at any time prior to the earliea~ of:
5 days (or such other period as applicable law may speeify for reinstatement) before sale of the
Property pursuant to any power of sale eontained in this Security Instrument; or. (b) entry of a
judgment enforcing this Security Instrument. Those conditor~ sre that Borrower: (a) pays Lender all
sums which then would be due under this Security Instrument and the Note had no acceleretion
oecured; (b) cures any default of any othec covenants or agreements; (c) pays all expenses incurred in
enforcing this Security Instrument, including, but not 2imited to, reasonable attorneys' fees; and (d)
takes sueh action as Lender may reasonably require to assure that the lien of this Security Instrument,
Lender's rights in the Property and Borrower's obligation to pay the sums seeured by this Security
Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and
the obligations secured hereby shall remain fully effective as if no acceleration had occured.
However, this right to reinstate shall not apply in the case of aeceleration under paragraphs 13 or I7.
NON-UNIFORM COVENANTS.
Borrower an9 Lender further covenant and agree as foliows:
I9. Aeceleration; Remedies. Lender shalt give notice to Borrower prior to acceieration following
Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to
acceleration under paragraphs 13 and 17 unless applicable law provides oth~wise). The notice shall
specify: (a) the default; (b) the aetion required to cure the default; (c) a date, not less than 30 days
from the date the notice is given to Borrower, by which the default must be cured; and (d) that failuee
to cure the default on or before the date specified in the notice may ^esult in acceleration of the sums
THIf IMSTRUM[NT ~R[rAR[D ~V
BOTOS ~ OLIVER ' ;;~~~'f~ ~
ATTORNEVS AT LAW ZQ'}K 1 Y'GE `~U
3200 Corpont~ Plad ~
1200 North FW~ral Highwiy
Bou Raton, Fbrida 33~32
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