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BALLOON RIDER <br />(CONDITIONAL RIGHT TO REFINANCE) <br />THIS BALLOON RIDER is made this tosey day of Fetiwlruary,2018 <br />and is incorporated int o and shall be deem rattle ed to su ' <br />Deed of Trust, or: Security Deed (t a :: "Secu Instrument") of date given by <br />the undersigned ( `Borrower") to secure Borrower's Note to Exchenge;Bank, a State <br />Chartered Bank <br />( "Lender") <br />of the same date and covering the property described in the Security Instrument and <br />located at: 4327 Indiangrasls Rd, Grand Island, NE 6$803. <br />The interest rate stated on the Note is called the 'Note Rate." The date of the Note <br />is called the "Note Date." I understand Lender may transfer the Note Security Instru- <br />ment,and` -this Rider. Lender or anyone who takes the Note, the Security Instrument, <br />and ,° , this Rider transfer and who is entitled to receive payments under the Note is <br />called the 'Note Holder. <br />ADDITIONAL COVENANTS. In addition to the covenants and agreements in the <br />Secunty Instrument, Borrower and Lenderfurther covenant and agree as follows (despite <br />anythingg to the contra contained in the Security Instrument or the Note): <br />1. CONDITIONAL, RI HT TO REFINANCE <br />At the Maturity Date of the Note and Security Instrument (the "Maturity Date "), I will <br />be able to obtain a new loan ( "New Loan ") with a new Maturity Date of <br />March 1, 2043 and with an Interest rate equal to the "New Note Rate" <br />determined in accordance with Section 3 below if all the conditions provided in Sec- <br />tion 2 and 5 below are met (the "Conditional Refinancing Option "). If those conditions <br />are not met, I understand that the Note Holder is under no obligation to refinance or <br />modify the Note, or to extend the Maturity Date, and that :l will have to repay the Note <br />from my own resources or find a lender willing to lend me the money to repay the Note. <br />2. CONDITIONS TO OPTION <br />If I want to exercise the Conditional Refinancing O tion at maturity, certain condi- <br />tions must be met as of the Maturity Date. These conditions are; (a) I must still be the <br />owner of'the p ro e sub ect "to the Security Instrument the "Property (b I must be <br />current in my monthly 1 y payments and 'cannot have been More than 30 days late on any <br />of the 12 scheduled monthly payments immediately preceding the Maturity Date; (c) the <br />New Note Rate cannot be more than five N percentage points above the. Note Rate; and <br />3 d)1 must make a written request to the Note Holder as provided in Section 5 below. <br />. CALCULATING THE NEW NOTE RATE <br />The New Note Rate will be a fixed rate of interest equal to Fannie Mae's required net <br />yield for 30 mortgages :subject .a 60-day mandatory delivery commitment <br />plus ZERO percentage point(s) ( o'000 % ), rounded <br />t o the nearest one - eighth: of one percentage point (0.125%) (the "New Note Rate"). The <br />required net yield shall be the applicable net yield in effect on the date and time of day <br />thatthe Note Holder receives notice of my election to exercise the Conditional Refinanc- <br />ing Option,; If this required net yield is not available the Note Holder will determine the <br />New Note Rate by uSin comparable information. <br />4. CALCULATING TI NEW PAYMENT AMOUNT <br />Provided the New Note Rate as calculated in Section 3 above is not greater than <br />five percentage points above the Note Rate and all other conditions required in Sec- <br />tion 2 above are satisfied, the Note Holder will determine the amount of the monthly <br />payment that will be sufficient to repay in full (a) the unpaid principal, plus (b) accrued <br />but unpaid interest, plus (c) all other sums I will owe under the Note and Security <br />Instrument on the Maturity Date (assuming my monthly payments then are current, as <br />required under Section 2 above), over the term of the New Note: at the New Note Rate <br />in equal monthly ayments. The result of this calculation will be the amount of my new <br />principal and interest payment every month until the New Note is fully paid. <br />5. EXERCISING THE CONDITIONAL REFINANCING OPTION <br />The Note Holder will notify me at least 60 calendar days in advance of the Maturity <br />Date and advise me of the principal, accrued but unpaid interest, and all other sums I <br />am expected to owe on the Maturity Date. The Note Holder also will advise me that) <br />may exercise the Conditional Refinancing Option if the conditions in Section 2 above <br />are met. The Note Holder will provide my payment record information, together with <br />the name, title, and address of the person representing the Note Holder h. I mot <br />Initials -' <br />MULTISTATE BALLOON RIDER - Single Family- Fannie Mae Uniform Instrument Form 3180 1101 (rev. 9/01) <br />Ellie Mae, Inc. Page 1 of 2 F3180BLR 0412 <br />F3180BLL (CLS) <br />02/13/2018 01 55 PM PST <br />2 01800980 <br />LOAN #: 012132927 <br />