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<br /> to extend die Maturity Date, and that I will have to repay the Note ftom my own resources ` ��� �
<br /> or�nd a le�nder willing ro lend me the money w repay the Note. .. :�.�.:;;_�
<br /> , ' 2. CONDITIONS T(D OPTION :.,._-`� —
<br /> � If I want to e�ercise ttie Conditional Refinancing Option at maturity,certain conditions -°�-
<br /> `�� mvst be met as af tl�e Maturity Date. These conditions are: (1) I must�till be the otuner and "' �-
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<br /> � occugant of the Property subject to the Security Instrument (the "Propeny"); (Z) I must be � ��
<br /> current in my monthly payments and cannot havs been more than 30 days late on any of the � ��':'
<br /> ,�� 12 saheduled monthly payments immediately preceding the Maturity D�te; (3) no lien
<br /> against the Property (exce�t for ta�ces and special assessments not yet due and payable) �����.,:�Y
<br /> .�, other than that of the Security Instrument may exist; (4) the New Note Rate cannot be more .,L�;.�....
<br /> than� percentage points above the Note Rate; and (5) I must make a writt�n request to the
<br /> ., Note I�older as provided in Section 5 below. -�'"-'= �
<br /> - ---�• 3. CAI.CULA�'LV�'I'HE NEV1�NO'TE RATE ����- ,
<br /> .. C:..o rp F i�ts+ am�al tn thP. �P.I�P_T2� NaNOT13I
<br /> ; . ,� i uc i�ew i3vi� Rate W i�! bc ., .,,.� rsw Q. ..._rest -.,-_• -- - � L.
<br /> ,� Mortgage Association's required net yield for 30-year �'uced rate mortgages subject to a �
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<br /> ., ,.� , C�z WJ 'i2:,�d�i0i� L�eli:�sP� ��:I2112itIIlsIIt, g!!!S �nP-h?!f of one P?rPntao� nciint ((1.5°X,); .�: G.�°��
<br /> ::; : rounded to the nearest one-e�ghth of one gercentage point(0.125�) (the"N�w Note Rate"). � +"� ;_
<br /> The required net yield shall be the applicable net yield in effect oi► the date and time of day
<br /> �� � that the Note Holder receives notice of my election to exercise t�e Conditional Refinancing '`�
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<br /> � Option. If this reqiiired net yield is aot available, the Note Holder will determine the N�w
<br /> Note Rate by using comparable informadon.
<br /> ' 4. CALCULATING THE NEW PAYfviENT AMOUNT ` "�`�
<br /> Provided the New Note Rate as calculated in 5ection 3 above is not greater than 5 ;,r:
<br /> percentage points above the Note Rate and all other conditions required in Section 2 above �'
<br />- are satis�ed, tlie Ivlote Holder will determine the acnount of the monthly payraient that will _-'_
<br /> be su�eient to repay in full (a) the unpaid principal, �lus (b) accrued bu¢ unpaid interest, - _�;�—��
<br /> . � plus (c) all other sum� I will owe under the Note and Security Instrument on the Maturiry _��-
<br /> �� Date (assuming my monthly payments then are current, as required under Section 2 abov�),
<br /> � . ,.,, over the term of the I�Tew Note at the New Note Rate in equal monthly payments. The result —�-
<br /> � of this calculaaon will be the amount of my new pnncipal and interest payment every _
<br /> . month until the New Note is fully paid. -_
<br />- . � 5. EXERCISIIVG THE CONDI'�IONAL RE�'INANCING QPTION _
<br /> _,:,.� ' The Note Holder will notify me at least 60 calendar days in advance of the Maturity ==�„�,_�
<br /> �_:. ,, ° Daee and advise me of dte principal, accrued but unpaid interest, and all other sums I am �'�-
<br /> = __ . expected to owe on the Maturity Date. The Nvte Holder also will advise me that I maq ���=_
<br /> - ..:• exercise the Conditional Refinancmg Option if ihe conditions in Section 2 above are met. -
<br /> •. ' The Note Holder will provide my payment record information, toget�er with the a�ama, .;�,�!r?`�=�
<br />�i., �. Form 31Et0 12188 'ti:.:=TM�,
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