HomeMy WebLinkAbout0963 • • ' DUE-ON-TRANSFER RIDER
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Notice: This rider adds a provision to the Security Inatrument a1lowing the Lender
to require repayment of the Note in full upon tranefer of the property.
THIS DUE•ON-TRANSFER R1DER is made this . . , lOth , day of . . . . . . . . . ,DECEMBFR . . . . , . , . , ,
ly. and is incorporated into and shall be deemed Co amend and supplement the Mortgage, Deed of Trust, or
Security Deed (the "Security InstrumEnt") of the same date given by the iinderaigned (the "Borrower') to secure
Borr~wer's Note to ..CITICORE. ~AV lI~(GS, ,pN' , N,4QI~~DA,, ,A ,~'EDEkAL, SAVtNGS, ,ANU. LQAI~, .ASSOC.
(the "Lender") of tl~e same dete (the "Note") and co~~ering the propert~• described in the Security Instrument and ~
located at: '
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~l5 SF.AHOUSE DRIVE P~)IZT ST. I.UCiE, FL 34983
............................................~PrODe~lyAddrp55)............................................ ~ i
AMENDED COVEx~.~vT. In addition to the covenants and agreements made in the Security Instrument, Borrower and
Lender further covenant and agree as follows:
A. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BOAFtOWER
Uniform Covenant 16 of the Security Instrument is amended to read as follows:
l6. Transfer of the Propert~ or a Beneficial Interest in Borrower. If all or any part of the Property or an~~
interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transfened and Borrower is not a
natural person) w~thout Lender's prior w~ritten consent, Lender may, at its option, require immediete payment in full of
all sums secured by this Security Instrument. Howe~er, this option shall not be exercised by Lender if exercise is pro-
hibited bv federal law• as of the date of this Security Instrument.
U Lender eYercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period
of not less than 30 days from the date the notice is delivered or mailed within which Bonower must pay ell sums aecured
by this Security Instrument. If Bonower fails to pa~~ these sums prior to the expiration of this period, Lender ma~•
invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower.
B~• SIr,~1:~G BELOt~~, Borrow•er accepts and agrees to the terms and covenant contained in this Due-On-Transfer
Rider.
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'87 OEC 18 A11:38
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00 2 5 7 311_ BOOK 5~S Q~GE 96~
MULTISTATE DUE•ON-TRANSFER RIDER-SeconO Mortgage-FNMA/FHLMC UNIFORM INSTRUMENT
CS-SM-B (R~v. 1 /~85)
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