|
201404605
<br /> SEE ATTACHED EXHIBIT`B"FOR MORTGAGE SCHEDULE
<br /> In consideration of the mutual promises and agreements exchanged, the parties hereto agree as
<br /> follows(notwithstanding anything to the contrary contained in the Note or Security Instrument):
<br /> 1. As of,MARCH 1,2014,the amount payable under the Note and the Security Instrument(the"Unpaid
<br /> Principal Balance") is U.S. $76,061.44, consisting of the unpaid amount(s)loaned to Borrower by
<br /> Lender plus any interest and other amounts capitalized.
<br /> 2. Borrower promises to pay the Unpaid Principal Balance,plus interest,to the order of Lender Interest
<br /> will be charged on the Unpaid Principal Balance at the yearly rate of 4.5000%, from MARCH 1,
<br /> 2014. Borrower promises to make monthly payments of principal and interest of U.S. $ 385.99,
<br /> beginning on the 1ST day of APRIL, 2014, and continuing thereafter on the same day of each
<br /> succeeding month until principal and interest are paid in full.The yearly rate of 4.5000%will remain
<br /> in effect until principal and interest are paid in full. If on MARCH 1,2044(the"Maturity Date"),
<br /> Borrower still owes amounts under the Note and the Security Instrument, as amended by this
<br /> Agreement,Borrower will pay these amounts in full on the Maturity Date.
<br /> 3. If all or any part of the Property or any interest in the Property is sold or transferred(or if Borrower is
<br /> not a natural person and a beneficial interest in Borrower is sold or transferred)without Lender's prior
<br /> written consent,Lender may require immediate payment in full of all sums secured by the Security
<br /> Instrument.
<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
<br /> prior to the expiration of this period, Lender may invoke any remedies permitted by the Security
<br /> Instrument 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
<br /> of taxes, insurance premiums, assessments, escrow items, impounds, and all other payments that
<br /> Borrower is obligated to make under the Security Instrument; however, the following terms and
<br /> provisions are forever 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,
<br /> implementing,or relating to,any change or adjustment in the rate of interest payable under the
<br /> Note,including,where applicable,the Timely Payment Rewards rate reduction,as described in
<br /> paragraph 1 of the Timely Payment Rewards Addendum to Note and paragraph A.1. of the
<br /> Timely Payment Rewards Rider. By executing this Agreement, Borrower waives any Timely
<br /> Payment Rewards rate 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
<br /> provisions as those referred to in(a)above.
<br /> 5. If the Borrower has,since inception of this loan but prior to this Agreement,received a discharge
<br /> in a Chapter 7 bankruptcy,and there having been no valid reaffirmation of the underlying debt,
<br /> FHA/VA HUD-HAMP Loan Modification Agreement 02192014_111 WD12106.1 9902424664
<br /> First American Mortgage Services Page 2
<br />
|