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2 0 I 66 9398
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<br /> If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall
<br /> provide a period of not less than 30 days from the date the notice is delivered or mailed within which
<br /> Borrower must pay all sums secured by the Security Instrument. If Borrower fails to pay these sums prior
<br /> to the expiration of this period, Lender may invoke any remedies permitted by the Security Instrument
<br /> without further notice or demand on Borrower.
<br /> 4. Borrower also will comply with all other covenants, agreements, and requirements of the Security
<br /> Instrument, including without limitation, Borrower's covenants and agreements to make all payments of
<br /> taxes, insurance premiums, assessments,escrow items, impounds, and all other payments that Borrower is
<br /> obligated to make under the Security Instrument; however, the following terms and provisions are forever
<br /> canceled,null and void,as of the date specified in paragraph No. 1 above:
<br /> (a) all terms and provisions of the Note and Security Instrument(if any)providing for, implementing,
<br /> or relating to, any change or adjustment in the rate of interest payable under the Note, including,
<br /> where applicable, the Timely Payment Rewards rate reduction,as described in paragraph 1 of the
<br /> Timely Payment Rewards Addendum to Note and paragraph A.1.of the Timely Payment Rewards
<br /> Rider. By executing this Agreement, Borrower waives any Timely Payment Rewards rate
<br /> reduction to which Borrower may have otherwise been entitled;and
<br /> (b) all terms and provisions of any adjustable rate rider, or Timely Payment Rewards Rider, where
<br /> applicable, or other instrument or document that is affixed to, wholly or partially incorporated
<br /> into, or is part of, the Note or Security Instrument and that contains any such terms and provisions
<br /> as those referred to in(a)above:
<br /> 5. Borrower understands and agrees that:
<br /> (a) All the rights and remedies, stipulations, and conditions contained in the Security Instrument
<br /> relating to default in the making of payments under the Security Instrument shall also apply to
<br /> default in the making of the modified payments hereunder.
<br /> (b) All covenants, agreements, stipulations, and conditions in the Note and Security Instrument shall
<br /> be and remain in full force and effect, except as herein modified, and none of the Borrower's
<br /> obligations or liabilities under the Note and Security Instrument shall be diminished or released by
<br /> any provisions hereof,nor shall this Agreement in any way impair, diminish, or affect any of
<br /> Lender's rights under or remedies on the Note and Security Instrument, whether such rights or
<br /> remedies arise thereunder or by operation of law. Also, all rights of recourse to which Lender is
<br /> presently entitled against any property or any other persons in any way obligated for,or liable on,
<br /> the Note and Security Instrument are expressly reserved by Lender.
<br /> (c) Borrower has no right of set-off or counterclaim, or any defense to the obligations of the Note or
<br /> Security Instrument.
<br /> (d) Nothing in this Agreement shall be understood or construed to be a satisfaction or release in whole
<br /> or in part of the Note and Security Instrument.
<br /> (e) All costs and expenses incurred by Lender in connection with this Agreement, including recording
<br /> fees, title examination and attorney's orney'
<br /> s fees, shall be paid by the Borrower and shall be secured by
<br /> the Security Instrument,unless stipulated otherwise by Lender.
<br /> LOAN MODIFICATION AGREEMENT—Single Family—Fannie Mae Uniform Instrument Form 3174 1/01(rev.6/06) (page 2 of3)
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