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2 0 1 303910 <br />C. The Loan Documents will not be modified unless the Modification Effective <br />Date (as defined in Section 3) has occurred. <br />D. Lender has no obligation to make any modification of the Loan Documents if <br />any of the requirements under this Agreement has not been met. <br />3. The Modification. If my representations in Section 1 continue to be true and <br />correct and all preconditions to the modification in Section 2 have been met, the <br />Loan Documents will automatically become modified (the "Modified Loan Documents ") <br />on July 1, 2011 (the "Modification Effective Date ") and Lender will waive all due <br />and unpaid late charges. <br />A. The new Maturity Date will be: June 1, 2041 <br />B. After a principal reduction of $18,336.12. The new principal balance of my <br />Note will be $63,319.30 (the "New Principal Balance "). <br />C. I promise to pay the New Principal Balance, plus interest, to the order of <br />Lender. <br />D. The annual interest rate on the New Principal Balance will be 5.500 %, <br />beginning June 1, 2011, both before and after any new default. This fixed <br />interest rate will remain in effect until principal and interest and all of the <br />obligations due under the Modified Loan Documents are paid in full. <br />E. On February 1, 2013 and on the first day of each month thereafter until all of <br />the obligations due under the Modified Loan Documents are paid in full, <br />Borrower must make monthly payments of $691.32 (each, a "Monthly <br />Payment "). Each Monthly Payment includes principal and interest of $359.52, <br />plus the current required escrow payment of $331.80. My required escrow <br />payments will likely adjust periodically in accordance with applicable law. If an <br />escrow adjustment occurs, my total monthly payment would change accordingly. <br />F. I will be in default if I do not comply with the terms of the Modified Loan <br />Documents. <br />4. Additional Agreements. I understand and agree: <br />A. I accept the risks of entering into this Agreement. These risks include (but are <br />not limited to): <br />(1) The Lender's subordinate lien will require a balloon payment when I pay <br />off, sell, or refinance the Property, which may make these things more <br />difficult to do. The Lender's subordinate lien may also make it more <br />difficult to get additional subordinate lien financing. <br />11111 11111 11111 11111 1111111111 II III 11111 11111 11111 11111 11111 11111 11111 11111 11111 111 11 111 11111 11111 11111 11111 11111 11111 11111 11111 11111 11111 <br />208308273+USC +FHAHM +8 <br />Page 3 <br />