HomeMy WebLinkAbout0919 B. CHARGfS; L1ENS ~ ~~Z~
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Uniform Covenant d of the Security Instrument ia amended to rcad aa foltows:
4. Chu~a; l.iens. Borrowe~ shall pay all taxes, assessments, and othercharges, fines and impositiona attributable to the
Property which may attain a priority over this Security Instrument, aad 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 paymcnt, when due.
dirrctly to the payee thcrcof. Borrower shall promptly furnish to Lender all noticea of amounts due under this pangaph,
and in the event Borrower shall make psyment directly, Bonower ahall promptly furnish to Lender roaipts evidencing
such payments. Borrower shall promptly discharge any lien which has priority over this Socurity Instrument; however.
Borrower shall not bo rcquired to discharge any such lien so long as Borrower: (a) shall ageee in writing to the psyment of
the obligation secured by such lien in a manner acceptable to Lender; (b) shaU in good faith contest auch tien by, or defend
against enforcement of such lien in, kgal proceedings which in the opinion of Lendoroperatetopreventtheenforcernent of
the lien or forfeiture of the Property or any part thenof; 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 ali or any part of the Property is subject to a lien which may attain a priority over this Security
lnstrument, L.ender shall give Borrower a notice identifying such lien. Bonower shail satisfy such lien or take one or more
of th~ actions set forth above within ten days of the giving of th~ notice.
C. NOTICE
Uniform Covenant 14 of the Sccurity Instrument es amtnded to resd as follows:
14. Notia. Except for any notice requircd under applicable law to be given in another manner, (a)any notice to Borrower
provided for in this Security lnstrument shall be given by delivering it or by mailing it by first class mail to Bonowtr at the
Property Address or at such other address as Bonower may designate by notice to Lender as providod herein, and (b) any
notice to Lender shail be given by first class mail to L.ender~ addras 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 lnstrument shall bodeemod to
have been given to Borrower or Lender when given in the manner designated henin. ~
D. UNIFORM SECURITY 1NSTRUMENT; GOVERNING LAW; SEVERABILITY
Uniform Covenant 15 of the Security Instrument is amend~d to read as follows:
15. Unifone Security Instrument; Governin= Lw; Serenbiltty. This form of Security Insturment combines uniform
covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform
security instrument covering real property. This Security Instrument shaU be governed by Federal law and the iaw of the
jurisdiction in which the Property is located. 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 provisions of this Security lnstrument or the Note
which can be given effect without the conflicting provision, and to this end the provisions af this Security Instrument and
the Note are declared to be severable.
E. TRANSFER OF THE PROPERTY OR A BENEFICIAL 1NTEREST IN BORROWER
Uniform Covenant 17 of the Security Instrument is amended to read as follows:
17. Transfer of the Property or a Benetk~l Iaterest in Borrower. lf all or any part of the Property of an interest therein is
j sold or transfsrred (or if a beneficial interest in Borrower is sold or transfened and Borrower is not a natural person)
~ without I.ender's ptior written consent, L.endtr may. at Lender's option, declare all the sums sscured by this Security
~ Instrument to be immediately due and payable. However, this option shall not be exercised by Lender if exercise is not
authorized by Federal law.
If Lender exercises such option to accelcrate, Lender shall mail Bonower notice of acceleration in accordance with
paragraph 14 hereof. Such notice shall provide a period of not kss than 30 days from the date the noiioe is anailed within
which Borrower may pay the sums declartd due. If Borrower fails to pay such sums prior to the expiration of such period,
L,ender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
1Yotwithstanding a satt or transfer, Borrower will continue to be obligatcd under the Note and this Security Instrument
unless L,ender has released Borrower in writing.
F. LOAN CHARGES ~
If the loan secured by the Security Instrument is subjeci to a law which sets maximum loan charges, and that law is finally
interpreted so that the interest or othcr loan charges collected or to be collected in conneciion with the loan exceed
permitted limits, then: (1) any such loan charge shall be reduced by the amount neoessary to reduce the charge to the
permitted limit; and (2) any sums already collected from Borrower which excxcd permitted limits will be refunded to
Borrower. Lender may choose to make this refund by roducing the principal owed under tht Note or by making a direct
payment to Bonowar. If a refund red~ces principal, the reduction will be treated as a partial prepayment under the Note. ,
IN WITNESS WHEREOF. Borroaer has execu USTABL T er.
Arthur T. Stover
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9 A 9~ Bernadette Stover -eo.~oKY.
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