HomeMy WebLinkAbout0921 ~Nns~ TinE coMrai~ . -
B. TRANSFER'OF THE PROPERTY OR A BENEFICIAL INTEpEST 1~1 BARRgWER
Uniform covenent 17 of the Secu~ity Instrument is amended to roed ea follow~
Ta~sf~r of th~ prop~tt~l or i B~nNiol~i lnt~hs! In BoROVr~r. It all or any part of the Property or any
interest in it is sofd or t~ansfened (or if a beneficial i~terett in 8orrowe? ia sold or t~anste~red end 8orrower is not a
naturel person) without Lenders prbr writts~ co~aant~ lenda~ mey, at ita optlon~ requtre immediate payment in tull
of all sums secured by this Secu~ity Instrument Howsver~ this optio~ shali not ba exe?ciaed by lender if exercise is
prohibited by federal law a8 of the date ot thla Sscu?ity Inst~ument Le~der also shall not exercfae this option it (a)
Borrowe~ causes to be submitted to Lendeir tnfonr~ation requirod by Lender to eveluate the intended transferee as
if a new loan were bein~ made to the trensferee; and Lende~ reasonebly determines that Lenders security will
not be impaired by the loen assumption and that the risk of a breach of any covenant or agreement in this Security
Instrument is acceptable to Lender.
To the extent permitted by applicable law~ Lencler may charqe a reasonable fee as a condition to Lenders
consent to the loan asaumptioR lender mayalso require the trensferes to afy~ an asaumption ag~eement that is in
acceptable to Lender and that obli~ates the tranaferee to keep all the promieea and agreements made in the Note
and in this Security Instrument Borrowerwill continue to be oblipated under the Note and thia Secu~ity Instrument
unless Lender releases Borrower in writin¢
If Lender exercises the option to require immediate payment in tul~ Lender shall give borrower notice of
acceleration. The notice shall provide a period ot not lesa then 30 days from the date the notice is delivered or
mailed within which borrower must pay ail sums secured by thia Security Instrument Ii borrower fails to pay these
sums prior to the expiration oi this period, Lender mey invoke any remedies permitted by this Security instrument
without turther notice or demand on 8orrower.
BY SIGNING BELOW, Borrower accepta and agrees to the ter~1 and cov~t~nts contained in this
Adiustabl~ Rate Ri~~r, - 1 / / /l _
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, ohn F . Leahy, Jr •8orrower
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Peg~ M. Leahy, hi s wi f G 4 •Borrowe~
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