HomeMy WebLinkAbout0996 faith contest such licn hy, or defend against enfi~rcement of such lien in, legai proceedings which in the opiniun of
Lender operate tu prevent the enforcement of the lien or forfeiture of the Propeny ar any pan thereof; or (c) shatl
secure from the holder of such Gen an agreement in a form saeisfactory to Lender subordinating such lien to this
Srcurity [nstrumcnt.
IP Lende;r determines that all or any part of the Propeny is subject to a lien which may attain a priority over this
Security Instrument, Lender shall give Borrower a notice identifying such lien. Borrower shall satisfy such lien or take
one ar more of the actians set fonh abave within ten days c~f the giving of the notice.
C. NOTICF.
Uniform Covenant 14 of the Security lnstrument is amended to read as fvllows:
14. Notice. Except for any notice required under applicable law to be given in anather manner, ( a) any notice ta
Borrawer provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail ta
Borrower at the Propeny Address or at such other address as Borrower may designate by notice to Lender as provided
herein, and ( b) any notice to Lender sf~ait be given by first ctass mail .to Lender's address stated herein ar to such
other address as Lender may designate by notice to Borrower as provided herein. Any notice provided For in this
Sccurity Instrument shall he deemed to havc bcen given to Borrower or Lender when givcn in the manner designated
herein.
D. UNIFORM SECURITt' INSTRUM~:NT; COVF.RNING LAW; S~YF,RABILITY
Uniform Covenant IS of the Security Instrument is amended to read as follows:
15. Uniform Security lnstrument; Governing l.aw; Severabilety. This form of Security Instrument cambines uniform
covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform
security instrument covering real propeny. This Security Instrument shall be governed by Federal law and the law of
the jurisdiction in which the Propeny is located. In the event that any provision or clause of this Security lnstrument
or the Note conflicts with applicable law, such conflict shall not afl'ect other provisions oi'this Security lnstrument or
the Note which can be given etTect without the conflicting provision, and ta this end the provisions of this Security
Instrument and the Note are declared to be severable.
F:. TRANSFF.R OF THF. PROPERTY OR A BF.NF.FlCIAL INTEREST IN BORROW~R
Uniform Covenant i 7 of the Security Instrament is amended to read as follows:
17. Transter of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or an interest
therein is sold or transferred ( or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
person ) without Lender's prior written consent, Lender may, at Lender's option, declare alt the sums secured by this
Security Instrument to be immediatety due and payabte. However, this option shall not be exerc+sed by Lender iF
exercise is not authorized 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
paragraph 18 hereof.
Notwithstanding a sale or transfer, Borrower will continue to be obligated under the Note and this Security
Instrument unless Lender has reteased Borrower in writing.
F. LOAN CHARGES
If'the loan secured by the Security Instrument is subject to a law which sets maximum Ioan charges, and that law is
finally interpreted so that the interest or other loan charges collected or to be collected in connection with the loan
• exceed permitted limits, then: any such loan charge shal! be reduced by the amount necessary to reduce the
charge to the permitted limit: and ( 2) any sums already collected from 8orrower which ezceeded 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 pania)
prepayment under the Note.
ItY WtTiYESS WHEiEOF, Borrower has executed this Adjuatable R~te Rider.
. ~
......y...... . • ( Seal )
~~1~~,,~ mm Anderson
. ..........................(Seal)
a g.07 Mars a L. Anderson, ~~his wife _g~~.
fI~ED " .............................................................................................................(Seal)
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- _ - aooK 58~ P~CE 9!~4
. Fi~St A~+~.:^3R lii~C Ccza~n;~ St. Lu^ie Caunty, Ir:C.
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