HomeMy WebLinkAbout0989 B. CHARGFS; UENS i• t
~ t~~ ~ ~
Unifarm Covenant 4 of the Security Instrument is ainended to read as follows:
4. Charges: I3ens. Borrower shalt pay all taxes, assessments, and other charges, fines and impositions attributable ta the
Property which may attain a priority over this Ser:urity Instrument, and leasehold payments or ground rents, if any, in the
manner provided under paragraph 2 hereof or, if not paid in such manner. by Borrower making payment, when due,
directly to the payee thereof. Borrower shall promp~ly furnish to Lender all notices of amounts due under this paragraph,
and in the event Fsorrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidenci~g such
payments. Borrower shall promptly discharge any lien which has priority over this Security l:utrument; however. BorroK•er
shall not be required to discharge any such lien so lang as Borrower; (a) shall agree in writing to the payment of the
obiigation secured by such lien in a manner acceptable to Lender; (b) shall in good faith contest such lien by, or defend
against enforcement of such lien in, legal proceedings which in the opinion of Lender operate to prevent the entorcement of
the lien or forfeiiure of the Property or any part thereof; or (c) shall secure from the holder of such lien an agreement in a
form satisfactory to Lender subordinating such lien to this Security Instrument.
lf Lender determines that all or any p:;;, ~he Property is subject to a lien which may attain a priority over this Security
Instrument, Lende~ shatl give Borrower a notice identifying such lien. Borrower shall satisfy such lien or take one or more
of the actions set forth ahove H~ithin ten days of t;i~ giving of the notice.
C. NOTiCE
Uniform Covenant 14 of the Sccurity Instrument is amended to read as follows:
14. Votice. Except for any notice required under appGcable law to be given in another manner, (a) any notice to Borrower
provided for in this Security Instrument shaH be given by deGvering it or ~y mailing it by 6rst class mail to Borrower at the
Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and (b) any '
notice !o Lender shall be given by first class mail to Lender'saddress stated herein or to such other address as Lender may
designate by n~tice to Bonower as provided herein. Any natice provided for in this Security Instrument shall be deemed to ~
have been given to Borrower or Lender when given in the manner designated herein.
D. UNffORM SECURI"TY INSTRUMENT; GOVERNING LAW; SEVERABILITY
!
Uniform Covertant 15 of the Security Instrument is amended to read as follows:
l5. Uuiform Security IasUvment; Goveraing Law; Severability. This form of Security Instrument combines uniform
cuvenants for national use and non-uniform covenants with Gmitea variations by jurisdiction to constitute a uniform
security instrument covering real property. This Security Instrument shall be governed by fiederal law and the iaw of the
jurisdiction in which the Property is located. In the event that any provision or ciause of this Security Instrument or the
Note confiicts with applicabie taw, such ronflict shall not affect other provisions ~f this Security Instrument or the Note
which can be given effect without the conflicting provision, and to this end the provisions of this Security Instrument and ;
the Note aze declared to be severable.
E. 'TItANSFER OF THE PROPERTY C~ A BENEFICIAL [NTEREST IN BORROWER
Uniform Covenant 17 of the Security Instrument is amended to read as follows:
17. 'IYansfer of We Property or a Benefkial Interest tn Borrotver. tf all or any part of the Property of an interest therein is
sold or transferred (or ii a beneficial interest in Borrowez is sold or transferred and Bonower is not a natural person)
without I.ender's prior written consent, Lender may, at Lender's option, declaze ail the sums secured by ttus Security
Instrument to be immediately due and payable. However, this option shatl not be exercised by Lender if exercise is not
authorized by Federat taw.
If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is maited within
which Borrower may pay the sums declared due. If Borrower faits to pay such sums prior to the expiration of such period,
Lender may, without further notice or demand on Borrower, invoke any remedies permitteci by paragraph 18 hereof.
Notwithsianding a sale or transfer, Borrower will continue to be obligated under the Note and this Security Instrument
unless Lender has released Borrower in writing. .
F. LOAN CHARGFS _ ~ .
If the foar~ secured by the Security Instrument is subject to a law which sets maximum loan charges, and that law is finally
interpreted so that the interest or other loan charges collected or to be collected in connection with the ioan exceed permitted
limits, then: (l) any such loan charge shall be reduced by the amount necessary to reduce the chazge to the permitted limit;
and (2) any sums already collected from Borrower which exceed permitted limits will be refunded to Borrower. L,ender may
choose to make this refund by reducing the principal owed under the Note or by making a direct pa ent to Borrower. If a
refund reduces principal, the reduction will be treated as a partial prepayment under the Note. ~~p ~ P3 ~
'72~541~ f~~1 E _ ~ ~
IN WIi7VESS WHEREOF. Borrower has e:«uted s DJUSTABLE TE Iti r. R d k~J ~
~GFR PC~t i'P,.s; ~ r.~tU
.
T LUCIE GD:Jh; ;..LERK
.......................~~x~)
CHAi~LES R WILSON -eorrower
. `
d 6c,~..
~LEAS~ RE7'JRNTO• ~ . ...7.1......[.~.~r~4S2r`.-'~ ........................................(Seal)
~Rr ~ ' GOA.~T ~ ~ + ROB IN R WIISON -Borrower
Seal)
~ -Borrower
(Sign Originat Onty)
~~'~477 P~~ ~8? ~
~
_ ~~-a, : ~ ~ ~
,