HomeMy WebLinkAbout0922 TRANS~ER OF THE PROPERTY OR A BENEFICIAL INTEREST iN 80RROWER
Un~!orm covenant 1 T o! the 5eCUrity In~trument Is amended to rpad ea tollowa
Tran~t~r of th~ prop~rty or ~ B~n~ficlal Int~?~st In 8onow~r. li all o/ eny pari pt the PrOperty or ~ny
:ntorest ~n ~t ~s gotd o? trenslerred (or if a benaficlel interest ~n 6orrower i8 aoid or treresterred end 8orrower ~s not a
natura~ per$on) w~thout Lenders prior written conaen~ Lender may, et its oDtion, require ~mmediate payment in luli
ol a1i sums secured by th~s SeCUrity in~trument Nowever, thi~ option ahall not be exerc~sed by Lender rf exerc~se ~5
proh~b~ted by feAe!ai iaw as of the date of thi~ Securily Instr~menl Lender also shali not exercise !h~s opt~on ~f , a~
Borrov~er causes to be subm~tted to Lande? ~n(ormetion reQuired Dy Len~er to e~~a~uate the intendeci transferee as
~f a new loan were be~ng made to the transteree, end (b) Lender reasonaDly determines !~at lendei s secur~ty w~i~
not ~e ~mpa~red by the !oan assump:~on end that Ihe r~sk of e bteaC~ of any ~ovanant or apreement ~n ih,s Se~ u~~t;
ing!r~ment :5 eCCP.ptablg t0 ~ender
To tne extent perm~tted by appUcable law, Lender mey charpe a reasonable fee as a cond~;~on tc ~ende~ s
co~~sert to tne ioan essumpt+on Lender meyalso require thelransferee to si9n an assumptian agreement that ~s ;n
a~ceptaL~e to Lencier an6 that obl~getes t~e trens(eree to keep ail iha prom~ses end ag~eements rnaoe ;n Yhe Nct~~
and ~n tn:s Secunty Instrument 8orrower w~li conhnue to be obl~qeted under the Note and th~s Secur~ty ins'r;;me~!
u~~855 ~end~! re~eaSeS BorrOw~er ~n wnt~ng
1f l.~nder exerC~SeS l~e Opt~On t0 r@quire immgd~ate payment ~n ~ull~ Lc~nde~ sha;~ g~~~e bOr~Uwe~ n~(~,e pt
acce~erat+on The not~ce shali prov~de e pe~~od oi not lesa than 30 days ~rom tne date tne not~ce .s aei~vered or
~~a~ied w~th~n wh~ch Dorpwer must pay ail sums SeCUred by thiS SeCunty Insirument If borrower ta+ls tc pay th~se
5um5 p~+o! to the expirat~on of tn~s penod. Lender may ~nvOke any remec!ies pormitte~ by th~S SeC~!ity inStrumf~n!
r~:'^GU' 'urt~e~ nct~Ce or demanc7 Cn DO?rOwe~
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