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201308753 <br />2. Acknowledgements and Preconditions to Modification. I understand, <br />acknowledge, and agree: <br />A. As a precondition to receiving this proposed modification of the Loan <br />Documents, I must accept and fully execute the FHA's required subordinate <br />mortgage loan (also called a Partial Claim Note and Security Instrument). 1 <br />have reviewed and approved the terms of such subordinate loan. <br />B. Lender has no obligation to make any modification of the Loan Documents if I <br />any of the requirements under this Agreement has not been met. <br />C. 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) Lender will have all of the rights and remedies provided <br />by the Loan Documents. <br />D. The Loan Documents will not be modified unless and until (1) Lender <br />approves this Agreement and (2) the Modification Effective Date (as defined <br />in Section 3 below) has occurred. <br />3. The Modification. I understand, acknowledge, and agree: <br />A. If all of my representations in Section 1 above continue to be true and correct <br />and all preconditions to the modification set forth in Section 2 above have <br />been met, the Loan Documents will automatically become modified on August <br />1, 2013 (the "Modification Effective Date ") and all unpaid late charges that <br />remain unpaid will be waived. If I have failed to make any payments that are <br />a precondition to this modification, this modification will not take effect. <br />B. The new Maturity Date will be: July 1, 2043 <br />C. The new principal balance of my Note will be $62,098.73 (the "New Principal <br />Balance "). <br />D. I promise to pay the New Principal Balance, plus interest, to the order of <br />Lender. <br />E. The annual interest rate on the New Principal Balance will be 4.125 %, <br />beginning August 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 />Loan Modification Agreement (FHA -HAMP Modification with Partial Claim) One- to Four - Family <br />Bank of America, N.A. (rev. 02/07/13) Page 3 <br />11111111111111111III111111111Ilillll1II1II11111Hilll ll11111111 X111E1 IIIIIIII11111lIlIIIIIN111llIVIIIVIIIIl111 IIIVIII <br />