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HomeMy WebLinkAbout0962 B. CHABGES; I.IENS Uniform Covenant 4 of the Security Instrument is amended to read ag follows: , } ; 4. C~ugea; Lens. Borrower srall pay all taxes, assessments, and other charges, fines and impositions ; attributable to the t'roperty which may attain a priority ov~er this Security Instrument, and leasehold payments ~ or ground rents, ii any, in the manner provided under paragraph 2 hereol or, if not paid in such manner, by ' E3orrower making payment, when due, directly to the payee thereof. Borrower shall promptly furnish to Lender ' ! all notices of ainounts due under this paragraph, and in the ev~ent 8orrower shall make payment directly, ~ ~ Borrower shall promptly i'urnish to I~ender receipts evidencing such payments. 8orrower shall promptly discharge any lien which has priority ov~er this Security [nstrument; however, Borrower shall not be required to discharge any such lien so long as Fiorrower: (a) shall agree in writing to the payment of the obligation secured by such lien in a manner acceptable to I.Ender; (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 prev~ent the enforcement of the lien or forfeiture of the Ptoperty or any part thereof; or (c) shall secure from the holder of such lien an agreement in a form satisfactory ta Lender subordinating such lien to this Security Instrument. If Lender determines that all or any part of the Property is subject to a lien which may attain a priority over this Secarity Instrument, Lender shall give Borrower a notice identifying such lien. Borrower shall satisfy such Gen or take one or more of the actions set forth abo~re within ten days of the giving of the notice. < (C) NOTICE Uniform Covenant 14 of the Security instrument is amended to read as follows: 14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in this Security Instrument shall be given by deli~+ering it or by mailing it by first class mail to Borrnwer at the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and (b) any notice to Lender shall be giv~en by first 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 hav~ been given to Borrower or Lender when given in the manner designated herein. j D. Uniform SecnriRy Inatrament; Governing Iaw; Severability. 'Itiis form of Security Instruanent combines uniform cov~nants for r.ational use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real propecty.lliis Security Instrument shail be governed by ~ Federal taw and the law of the jurisdiction in which the Property is located. In the ev~ent that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of 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 are ~eclared to be sev~erabie. i E. TRANSFEB OF 1~ PBOPEBTY 08 A BENEFICIAL INTEREST IN BOBROWEB ~ Uniform Covenant 17 of the Security Instrument is amended to read as follows: ~7. 'I~ansfer of the Property or a Beneflcial Interest in Borrower. If all or any part of the Property of an interest therein is sold or transfened (or if a beneficial interest ir+ BorrQwer is sold or transferred and Borrower i; r is not a natural person) without Lender's prior written consent, Lender may, at Lender's option, declare all the sums secured by thu Security Instrument to be immediately due and payable. However, this option shall not be ~ ' exercised by Lender if exereise is not xuthorized by Federal law. ' ~ ~ 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 ~ mailed 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 further notice or demand on Borrower, invoke any remedies ~ permitted by pazagraph 18 hereof. ; Notwithstanding a sale or transfer, Borrower will continue to be obligated under the Note and this Security E Instrument unless Lender has released Borrower in writing. ~ ~ F. LOAN CHABGES ~ ~ If the loan secured by the Security Instrument is subject to a lawwhich sets maximum loan charges, and that law is finafly interpreted so that the interest or other loan charges collected in connection with the loan exceed € permjtted limits, then: (1) any such loan charge shall be reduced by the amount necessary to reduce the charge ~ to tft~ permitted limit; and (2) anysums alreadycollected from Borrower which exceed permitted limits will be refunded 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, If a refund reduces principal, the reduction will be treated as a partial ~ prepayment under the Note. o~ o ~ ~ ~ ~ ~ ~ ~ ~ i? 4 c~+ i eoo~497 ~~E 960 ~ ~ c~ cn ~ ~ , ~ ~ ~ - ~.~.~_T~ s ~ - - _ - - . _ _ _