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�°�- tz:�3'739 0004715615 2. Conditions to Option. If I want to exercise the Conditional Modification and Extension Option at maturity, certain conditions must be met as of the Maturity Date. These conditions aze: (1) I must still be the owner and occupant of the property subject to the Security Instrument (the "Property'); (2) I must be current in my monthly payments and cannot have been more than 30 days late on any of the 12 scheduled monthly payments immediately preceding the Maturity Date; (3) the Modified Note Rate cannot be more than 5 percentage points above the Note Rate; (4) I must make a written request to the Note Holder as provided in Section 5 below; (5) the lien of the Security Instrument must be a first and prior lien against the Property; (6) I must provide the Note Holder evidence satisfactory to it that the rights of the owners of other security interests encumbering the Property are subordinate to the rights of Note Holder, including, among other things, subordination agreements and title insurance endorsements in forms acceptable to the Note Holder; and (7) if there are any other security interests ' encumbering the Property,. I must satisfy and comply with all other requirements of the Note Holder for mortgages with subordinate financing, which may include requirements of the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation in effect at the time of maturity. 3. Calculating the Modified Note Rate. The Modified Note Rate will be a fixed rate of interest equal to the Federal National Mortgage Association's required net yield for 30-year fixed rate mortgages subject to a 60-day mandatory delivery commitment, plus one-half of one percent (0.5%), rounded to the nearest one-eighth of one percent (0.125%) (the "Modified Note Rate"). The required net yield shall be the applicable net yield in effect on the date and tune of day that I notify the Note Holder of my election to exercise the Conditional Modification and E�ension Option. If this required net yield is not available, the Note Holder will determine the Modified Note Rate by using comparable information. 4. Calculating the New Payment Amount. Provided the Modified Note Rate as calculated in Section 3 above is not greater than 5 percentage points above the Note Rate and all other conditions required in Section 2 above are satisfied, the Note Holder will determine the amount of the monthly payment that will be sufficient to repay in fu11 (a) the unpaid principal, plus (b) accrued but unpaid interest, plus (c) all other sums I will owe under the Note and Security Instrument on the Maturity Date (assuming my monthly payments then aze current, as required under Section 2 above), over the remaining extended term at the Modified Note Rate in equal monthly payments. The result of this calculation will be the new amount of my principal and interest payment every month until the Note is fully paid. 5. Exercising the Conditional Modification and Extension Option. The Note Holder will notify me at least 90 but not more than 120 calendar days in advance of the Maturity Date and advise me of the principal, accrued but unpaid interest, and all other sums I am expected to owe on the Maturity Date. The Note Holder also will advise me that I may exercise the Conditional Modification and Extension Option if the conditions in Section 2 above aze met. The Note Holder will provide my payment record information, together with the name, title and address of person representing the Note Holder that I must notify in order to exercise the Conditional Modification and Extension Option. If I meet the conditions of Section 2 above, I may exercise the Conditional Modification and Extension Option by notifying the Note Holder no later than 45 calendaz days prior to the Maturity Date. Substantially Similar to MULTISTATE BALLOON RIDER Form 3160 07/89(Page 2 oi 3) Single Family-FNMA Uniform Instrument EC062L Rev. 01/15/97