HomeMy WebLinkAbout0926 [)~~Crerascts ~n the ~ntc~rcrst rat~r rnly I<Jepend:ng ,:r ~:i~~:~r inti~resl rate chanycs) icsult in luw~r ~,aym~nts atter a Change Date. S~.ib~ect
!u It~e iim~tat,ons sr~t ~ut ~n Sect~on ?1 D} ot th~s Ni~te In settinq tt,e amuunt of the monthly payment e7L~e atter t;ach Chanye Date, as
;~rov~ued ~n Sec+.~un 4iE3) af ??~~s Note, the Nole liuldet Will <3SSu~~Er tnat tne Note ~nterest rate w~u not change aya~n pnor to the f ~nal
Payment Date
8. SETTIt~IG THE NEW PAYMENT AMOUNT
1~ 1;"~
,'II l~ 1 ~ 1 ^ c,''
Be ~nrnnq un and un lhe ' c7ay ot the moMh every
r~r- •Yr••~~,•
~ • thereafter ~tne C?~ange Dale ~ the Note Hold~r will ~eterm~ne the monthly payment amount that
,v~i1 be suf;~c~ent to repay tr,e pnnc~pai balance ~n full on th~ f~nai PaymzM Oate, at the new ~nterest rate. ~n substant~alty eyuat
,,fyment5. assurn~ng that lhere ~5 no further change in the ~nterest rate The result ~f th~s caiculat~or w~li ~e my new munihly
;~tjyrneni The hrst r+,onS?ily payrnent Uue dites the Ch~lr~ye Ddte will be the new arl~c~unt
5. NOTICE OF CNANGES
The Note No~der w~li rna~i me a not~Ce by f~rst class ma~l ,it ieast th~rty ~30f and no more than or~e hun~red and twenty i t 20i clays
;,efc>rr~ eacn Chanye Dale if ihe payment is to change 7ne not~r_e w~l~ adv~se me of the new ~nterest rate on my iuan, ~u~ the
amvunt ot rtiy new rnor?hly pdyn+t~nt t~nd !ri) any aciditional matters wrucn tne Note Holder ~s req~~!ed to d~scii,se
B. CHAiiGES:l1ENS
Unifor.n Covenant 4 ut t!~e M~rtyage ~s amendeC to ~ead as tollows
4. Charges; Liens. durr~~war shal~ pay all taxes. assessments, charges, f+~es and ~mpos~t~ons attr~butable to tr~e Pro~erty wn~ch
•u.jy atlam pr~or~h~ ~ver tr~~s Secuniy Instrument, and ieasehold payments or gro~~nd rents. ~f any 9orrower shali pay tnese
,h?~gat~ons ~r thc~ 7?a^ner p!ov~ded ~n paragraph 2, or ~f not pa~d in that manner, Borrower shall pay therre on t~me ClireCtly to the
;>ersor. owec: pay!nen' Bor~ower sh~lf promptly furr~~sh (o LenUer 2~! not~ces c;f amounts to be ~aid unde~ !hiS partf9rt3pt? It
~i;~r,owe~ ~~ah~s tt:ase payn;ents d+rectly. Borrower shaU promptly furn~sh to lender rece~pts ev~denc~ng the payments
porrowe! shali promptty tl~scharge any L~en wh~ch has pr~onty over th~s Se~urity Instrument unlesS Sorrower (a) agrees ~n
h~~i~ng ?o th~ payrr,ent ol ine obl~gahon secured by the L~e+~ ~n a mann6r accsptabfe to Lender. ~b) Contests ~n good la~th the I~en by.
~~efer.ds aga,~st erfurcen~,e~~t o! the i~en ~n, legaf proceed~rgs wh~ch ~n the Lender s op~n~on operate to prevent the F~torcement
;n~ I~en or for!e~t.fre o~ af~y paft o} ?he Property, ~r (c) secures irom the holder ot the I~en an agreement saUSfactory ti~ lender
ti.;Dord;r.at~~~G th~~ ~:en to th,s Sec~,nty fnstrument If Lender determ~nes ;hat any part of ihe Property ~s sub~ect to a I~en wh~~ch may
~r.~a~r pr~or~?y uv~~r t^•s S~~cunty i~strument. Lender may g~ve Bonower a nohce ~aent~fying tr.e ~~en Borrower s`~aii sat~sfy the ~~e~ or
•,,~e one or rr.~;~c~ tr+e~ act :;~~s St:! f:~flh w~tr;;n '0 Gays ot tr,e g~v;ng ot no:~ce
; C. NOTICE
,~,fprm Cnytrar,~ •3 ~t ~nr~ 4!;~!'gaye ;s amenCed to ~eao as toi!ows
id. NOtiCes. An J r.;•:i:e !o B!,~rr~_;vrer prpv~decl fUr in th~5 SeCunty InSt~ument s~a~l bN yi~er by de:~venng rr b~ r?~e::;^9 ES Dy ~;rst
~iSS rt18~1 ;;^~Er55 dp~ :Cdb F' !8W ~FC~Ii~IE'$ !lse of anethe~ method Tr~e not~ce snai~ De ~,:rectetl to tt~e Property Adaress or any e:!?E~
~ ~:;ress Bor~c~er :".es~gna;es by not~ce'o Lender Any not~ce to Lenc~er shali be ;:ti~~~ by I:rst c!ass ma;i ?o LenCer s adCress sta~ed
~ •~~et.•' ;Y dny ;~tr•.e~ a~C~eSS LenC~~ d~~5~~^ates by roi~ce to Eorrower Any no1~cE~ pfOVidBC !O~ th~5 SE'CU~~ly ~"Sf~u^iEi'I Shail ~j@
~ :r.~^:dC: to hliF t~~t'~` (~~.c'•". iU ~O!•'owe~ or ~ender when g~ve~ as prov~deQ ~n th~s p~ragraph
[ D. UNIFORM SECUAlTY IAiSTRUMENT; GOYEFiNING LAW; SEVERABIi.ITY
~ ~ t~;~m Coven~?r-:t 'S pf !r•,f, Secur+ty lnstr~~r~en; is amer.ded to read as foiiow5
~ 15. Governing Law; Severabilily. This SeCUr~ty Instr~~m~nt shall be gCVr~med by federai iaw ar.r tn~ iaw ~re ~u~~sa~ct~on ~n
„~r. t~-;e prpG;,~rty ~s ~ocC~;e~ in V~e even? th~t any prOv+SiGr? ~r CiauSe ot thiS SeCUrily InStrumert Ur tre r~ore COn}I~CtS w+ih
,:,p?~~ab e~aw s.:cr~ ce~',~r,? s~ai; not aHect other prov~s~ons Of t~~:s Secunty instrument or the Nole wh~c^ ~a~! be gr~en etfect
~ ~rout tr.e co^'!~ct,~g ~i~o. s,c,n To th~s end the prov~s,~~^s of this Secunty Instrument anC ti~~ Note are Cec~ar~•C ±a be s~~erab!P ~
~ E. TRANSFER OF THE PHt)PERTY OR A 9ENEFICfAL tNTEREST IN 80RROWER
~ :tr~rm Covenart ?7 G! rnF Secu:~ty !r.strurr,ert :s ame^hed fo ~ead as bllows
c
~ 17. Transter ol the Property ot a Beneficial Inierest in Borrower. !s alI o; a~y part ot the Pr~F;erty or ary ~n±o+esr ~r ~t ~s so!d o~
~ ~,i~ S~E.r~t"; ; r,! :i b_!'. t:~ :l :^!ttrc-S? ;r ~3 ,:.r'r :5 50~4 Or tra.»!alrf'7 dnd f30~fiiWPl ~5 ~!Ul 3"~f!ufai pg~ SO~! SArlihGii! LEP.;t'f 5 Qnpf
~ itC' 'S~' :Pr r ~'S ~ .•~t •P ifT~^E:!c3tF• :1ay•'r~f'f1! ~r1 f~li •~f au sun~; iE•<,U/e(~ py th:s SFCur'f~/ ~^~.StfUTef~t
r
~ :d4~,~,., rr i;,~:! r Sr:f ' . : bj/ :.t+f~rJt.. ~f ..x;.-c',SC' IS ii~C'~'.'riilZ~ b~ fE'GE'I3' `;iiM aS OI /h,@ Cc?le Ot Ih~S S~CUli(y
~t!....Li~ .
r f.r. i+. . ~ ;n• 5r.~ii ~,~~:Er Ei~it' )r~t'r ^OtiC~' i~~ 3CCE!P./aiiUf` The r?ot~Ce 5' aii pro;;~de a per~oc ot not iess
a
~ ' ir' .:J> .d.~- S C~ii-;r~F~C !lt ~e.du~-: N,ih~^ Wh,4h 40lfOWef R1USt pay alf sums secure~ Dy ih~s Secunty
~ I~ L' ';~v:" , dy !~'CSi: Su~~S G~!Or tp 1~'F E'~(i:f~ihG`~. O~ ~h~s per~~G. Lender ~nay +nvoke ar.y rameJ~es perm~tted by
~ . ~5~~~~~i ~r~_. !.;~if~{?. .;O?~r@ Or ;B!?;~in~? On r
gOf VW~f
`S ~;•,,r;;.r y;. r. .~~,.:t e,; 1 5~~~, ,}r t~~n5}~'r pt~0! Iv c~~y SUCh sale or !ransfe~ (1 } Bc;rower ca;.rses to ~e suGm;tteG ?o Lerder
~!_.~~~:at •~r r., ; r,; ;Nr to evaiuate t~:e t~ansteree as ~f a new !oan were be~ng mabe to tne trar:sferee. ~21 ±he transteree
~ ;;,^,rr~ 's ,pr,~~ s s?ar ~a~d aUG'~cat~on ',orm a wrFtten ap~i,Ca!~on fOr perm~ss~o~ to 0ssume the 4pan. !3) the transteree
~ ;_.a: ~',~•s .~r,dF~r,vni~r:q Ster.Cards ~n et!ect at the t~me a! subm~ss~or. of transferee s appi~ca!~on for assumpt~on ~n
` snrc:c..~;-i~ `a oar~ we~e• he~rq ~~a~~e t~ the!ra^s'eree as o! the propose~ assumpt~an da;e. id) the transferee s~gns a~
- ~ss~:m;;! aqrF,..•~~ ~•r~? t!•a! :s ac.ce;;:a5+e !o Lender ar~ ih~t oG~,gates tr,e transteree to keep all the prom~ses and agreements made
,':e'•i:~':- a~:~~ s`~~~...r~~y ics!r,;~.ent i5~ the trans~eree pays al! requ~re~ fees anci charges ~nclud,ng, but not ~~rn~ted to. an
T ;ssurr~~t ~>r. +t'f~ :~5 3 C':~r' f::t~,~n ?o Lc:r ,e! s ccr~sent tc, t~~e pr~p~seo ass~mpUOn, a~d (6) no default ez~sts under the terms of the Note
s ard t~~+s S~~c~,nti lr:s+,~u^,f,r! ar:~ al~ GayR~en!s req~!rFd the~eurder have bear~ made and ihe loar acCC~ur~t ~s then current
. ~O(rf)~dyp( ~dy:~:! ~,Of~(ir:it=!(~ pE~ r~hi~ ~~i~~ ~ un~Jer tne Note anC th~s Ser~r~ty InStrument ur,tess L~n~2r re'eas?5 Borrower ~n wnt~r.g
F LOAN CHARGES
s , .'t~ i~ r;~•. d th~lt lar~ :S !,••Ji,y
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;°~5;4 j Sl N~Tf PLAN s~iv 57
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