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� 2� 1 ��7178 . , . � �• 2. Acknowledgements aad Precandit�ans to Modifcatian. I understand and acknovvledge that: A. �f pr�or to the Modificativn Effec�i�e Date as set farth in Sectian 3 the Lender determines that my representatiotts in Sec�ian 1 are no langer true and correct, the Loan Documents will not be mudified and th�s Agreement�ill xerminate. In this e�ent,the Lender w�i�have all of the rights and remedies pra�ided by the Laan Da�uments;and B. I understand that the Loan Documents wi�� not be modified unless and unfii 1 �i) I receive from the Lender a copy of this Agreement sign�d by the Lender, and�ii}the Modification Effective Date�as def ned in Section 3} has occurred, � further understand and agree that the Lender will n�t be obiiga�ted or bound ta make any modif cation vf the Loan Documents if 1 fail to meet any one of�he requirements under this Agreemertt. �. �f included, the undersigned borrower�s) acknowledges receipt and acceptance of the Notice af Special Flood Hazard disclosure. 3. The Mvdif�cat�on. �f my representations in Sect�an 1 continue to be�rue in aIl materiai respects and all preconditions to the madification set forth �n Sect�on 2 have been met, the Loan Dacuments will automatica��y become mod�fied on N�VE�VIBER 1, 2416 �the "Modification Effec��ve Date"} and ail unpaid late charges that remain unpaid Wvill be wai�ed. r understand that if I ha�e fai�ed to make all requ�red pa�ments as a precandi�ion ta this modificatton under a workaut pIan or trial per�od plan, the Lender has the right to reject this Agreement e�en if I ha�e s�gned and returned th�s Agreement. The f�rs�modified paym�nt�vill be due�n N��EMBER 1,�016. A. The ne�Maturity Date will be:�CTUBER 1,2�46. B. The modified pr�ncipa� balance af my Nate wi11 include amaunts and a.rrearages �hat will be pas� due as of the Modif catfon Effecti�e Date. This does nat include unpaid late charges, vaivation, property preservatian and other charges not permitted under the terms af#he FHA Hame Affordable Madifica�ion Program.Permitted amounts and arrearages may �nclude unpaid and deferred in�erest, fees, escrow advances and other costs less any amounts paid �o the Lender but not previousXy �reditied to my Loan,ca�Iectively"Unpaid Amounts";the partion�f Unpaid Amounts capitalized is $2,U35.35. The new principal balance of my Note �rrill be $19,577.1� �the "New Principal Balance"}which includes the capitalized Unpaid Amounts.I understand that by agreeing ta add the Unpa�d Amounts ta the out�tanding princ�pal balance, �he added Unpaid Amoun�s acc�ue interest based�n the interes�ra�e in effect under�his Agreement. I also unders�and �hat this means interest will now accrue an the unpaid Interest that is added to the outstanding principal balance, which would not happen vrri�hout this Agreement. C.Interest at the rate of 3,75�%�vill begin to accrue on the�nterest Bearing Pr�ncipal Balance as�f �CT�BER 1, ZU16 and the first new monthly paymen� on the Interest Bearing Prrncipal Balance v►+i�i be due on N�VEMBER 1,�U�f. In�erest due on each monthly payment v�vill be ca�cl��a�ed by multipiying the New Princ�pallinterest B�aring Principal Ba�ance and the interest rate in effect at the �ime af ca.lculation and diWiding the resu�t by fiwelve �12}. My payment scheduie for the VVells Fargo Custom FHAHomeAf�'ordable Moclificat�an Agreement g3G��lll��lf��l�fl��l��ll��l�l�� U82�201b 445 Page 3