HomeMy WebLinkAbout0961 EXHIBIT "C"
' • DUE-ON-SA~.F RIDER
THIS RIDER is made this . .~'~1 . . . day of . . $ep.t~e~qber
. . . . . . . . . . . . . . . . . . . . . ~ 19 85 . . ~ .
and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed
of Trust or Security Deed (the "Security Instrument") of the same date given by the
undersigned (the "Borrower") to secure Borrawer's Ad~ustable Rate Note (the "Note") to
City.Federal Savin$s and Loan Association ~
. . ;
(the~"Lender")~of the~same date covering the propeYty described~in the~Security~~~~~~~~
Instrument and located at:
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1002 Grandview Boulevard, Fort Yierce, Florida 33450 ~
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(Property Address)
ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the
Security Instrument, Borrower and Lender further covenant and agree as follows: ~
?'niform CovenanC 17 of the Security Instrument is amended to read as follows: .
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Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of ;
the Property or any interest in it 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 i
prior written consent, Lender may, at its option, require immediate payment in full of ~
all sums secured by this Security Instrument. However, this option shall not be j
exercised by Lender if exercise is prohibited by federal law as of the date of this z
Security Instrument. Lender also shall not exercise this cption if: a) Borrower causes ~
to be submitted to Lender information required by Lender to evaluate the intended ~
transferee as if a new loan were being made to the transferee; and b) Lender reasonably
determines that Lender's security will nat be impaired by the loan assumption and that
che risk of a breach of any covenant or agreement in this Security Instrument is
acceptable to lender.
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To the extent permitted by applicable law, Lender may charge a reasonable fee as a `
condition to Lender's consent to the loan assumption. Lender may also require the
transferee to sign an assumption agreement that is a~ceptable to Lender and that
obligates the transferee to keep all the promis~s and agreements made in the Note and in
this Security Instrument. Borrower will continue to be obligated under the Note and
this Security Instrument unless Lender releases Borrower in writing.
If Lender exercises the option to require immediate payment in full, Lender shall give
Borrower natice of acceleration. The notice shall provj.de a period of not less than 30 ~
~ays from the date the notice is delivered or mailed within which Borrower must pay a11 ~ i
sums secured by this Security Instrument. If Borrower fails to pay these su*_^~ nr~oY to ;
the expiration of this period, Lender may invoke any remedies permitted by this~Security €
Znstrument without further notice or demand on Borrower. ;
BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in
this Rider.
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. . . . . . . . . . (Seal)
n Su~C Yaung -Borrower
• • .r,~-r~i~. . .~l.~.;.~~~. s-~ t~..~. . (Seal)
G -Borrower
oon Ja Yaung ~
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ST. LUC1E C~l;?:~: Y, s:..
;15-L31-00-0284 - vENERAL - DUE-OIv-SALE RIDER
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