HomeMy WebLinkAbout0981 p. !.ln!lorm Securlly inrlrumenl; Governing Law; Seve~ablllly
Un~form Covenant 15 ul Ihe Secu,,ty Instrume~~l ~s amendecl re~d as Icuurrs
15. Unl(orm Security Inslrumenl; Governing Law; Seve~abllily. Th~s torm ot Secur~ly tnstrumeni cornt,nes un,!crrn
r_ovenanls lor naUona? ~se and non-unibrm covenants with limited var~at~ors by ~urisitt~on to Consl~tuie a urulorm se<:ur,!y
~ns(rument covering real prope?ty This Secu~ily Inslrumern shali be governed by tedera~law andthelaw ol lhe~unscf~clion m~vh~ch
t~ie Pro~~rty ~s localed Ir, lhe event Ihal any provision or clause of tt~,s SeCUrily Inslrumenl or Ihe No1e conllicts with appt~cabie taw.
s~ch conllict shait not atfect other proi~isions of this Security Instrumcnl or the Note which can be given etlecl w~thout the
cont~~ding provisior. and Io Ihis end the provisions ol Ihis Security Instrument and Ihe Note are declared to be severable
E. Transler O! The Properly Or A Beneliclal Inlerest In Borrower
Un,l~~rrn Covenanl 17 C1 Ihe Secur~ty Inslrument is amended to read as loflows:
17. Transler ol the Property or a Benelicial Interesl In Borrower. II all or any part ot Ihe Property or an interest therein ~s
sold or transte~red (or it a benelicial interest in Bcrrower +s sold or translerred and Borrower is not a natural person) w~thout Lender's
pr~or wr~llen consent. lender may. at Lender's option, declare all the sums secured by this Secur+ty Insirumenl !o be immecl,alely
due and payable However, lhis oplion shail not be exercised by Lender if exercise is prohibited by Federal taw as of thedate o( th~s
Secur~ty Instrumen(.
It Lender ezercises such op',ion to accelerate, lender shall mail 8orrower notice of acceleration in accordance w~th
paragraph 14 hereof Such nolice shall provide a period ol nol tess Ihan 30 days Irom Ihe date the nolice is mailed within which
E3o~~ewer m~y pay Ihe sums declared due N Qorrower laits to pay such sums prior lo the expiration ot such period. Lender may.
~ti~tt~oul further notice or demand on Borrower, invoke any remedies permilted by paragraph 18 hereot. Nolwithstand~ng a sate or
transter. Borrov:er will conlinue to be obfigaled under the Note and this Security Instrument unless Lender has released 8orrower in
wrihng
F. Covenant Deleted
~
G. Loan Charges
If Ihe Ioan secured by the Security Instrument is s~bjeci to a law which sets maximum toan cha, ges, and !ha! lawr is hnatly
~nterpreted so tha! Ihe interest or other (oan charges co!'ected or b be collecled in connection with the loan exceed permiltedlim~ts,
then (1 } any such toan charye shall be reduced by Ihe amounl necessary lo reduce Ihe charge to the permitled limit: and (2) any
sums already coltected trom Bor?ower which exceeded permitled limils wi!I be reiun~ed lo E3orro~.Ver. Lender may choose Io make
th~s relund by reducing she principal owed under the Note or by making a direct paymenl to Borrov+er. If a re(und reduces principal,
the reduclion ~vi11 be treated as a partia? prepayment under the Note.
H. Legtslatlon
If, atter the date hereol, enaclment ar expiration of applicable Iaws have the elfect eiiher ol rendering the provisions oi fhe
Note. the Security Instrument or this Ad~uslable Rate Rider (olher than this paragraph H) unenforceable accordmgtotheir terms. er
aii or any part o1 the sur;~s secured hereby uncolleclable, as otherwise provided in the Security Instrume~t and ihis Adjuslable Rate
Rider, or oi drminishing the value oI lender's security, then Lender, at Lender's option, may declare all sums secured by Ihe
Security Instrument to be immediatety due and payable.
IN WITIVESS Wl1EREOF. Borrower has execuled this Adjuslable Rate Rider.
zID o~o p ~
1. ~ ts~a~?
. It' ldent 7 -Borrower
~
(Seal)
RO I~ . SC~?GJEIGER/ -earower
~ ~~L. / ! < < <
(~a~1
IA_ SCHWE C'~Q2 -Barower
( Sign Originaf Only]
e
I d ~r.~~ {
~
`86 DEC 23 P12 :5
FILt~ ' ~
ST. LUC'i
~
ARM Rlder-Plans A-2 and A-3 (Page 2 0( 2~~~s~