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201 306142 <br />B. Prior to the Modification Effective Date (as defined in Section 3), if Lender <br />determines that any of my representations in Section 1 are no longer true and <br />correct, (1) the Loan Documents will not be modified, (2) this Agreement will <br />not be valid, and (3) the Lender will have all of the rights and remedies <br />provided by the Loan Documents. <br />C. The Loan Documents will not be modified unless the Modification Effective <br />Date (as defined in Section 3) has occurred. <br />D. The Lender has no obligation to make any modification of the Loan <br />Documents if any of the requirements under this Agreement has not been <br />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, 2013 (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, 2043 <br />B. The new principal balance of my Note will be $53,655.13 (the "New Principal <br />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 4.000 %, <br />beginning June 1, 2013, 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 July 1, 2013 and on the first day of each month thereafter until all of the <br />obligations due under the Modified Loan Documents are paid in full, Borrower <br />must make monthly payments of $550.09 (each, a "Monthly Payment "). Each <br />Monthly Payment includes principal and interest of $256.16, plus the current <br />required escrow payment of $293.93. My required escrow payments will likely <br />adjust periodically in accordance with applicable law. If an escrow adjustment <br />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 />11111 I) ill 11111111111111111111111111111111111111111111111111Ill ll l ll l 1111 ll 111 IIIII IIIII IIIII Il 1111 l IIII 1 I Il l l II Ill II 11111111 II III II Ill ll 111 I IIII <br />48609179+U SC +F HAHAM P +80024 5 <br />Page 3 <br />