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r- 89�. 103358 If I %%ant to exercise the ('onscrcion option. 1 must first nice, certain conditions. "Those conditions are that: (i) 1 mum give the Note Helder notice that I want to do so: (ii) out the Conversion plate. 1 must not be in default under the Note or the Security Instrument: (iii) by a date specified by the Note Holder, i must pay the Note Holder a conversion fec of U.S. s 250.00 ; and (iv) i must sign and give the Note Holder any documents the Note Holder requires to effect the conversion. 1 " (B) Cakulad" of Fixers Rah My new, fixed interest rate- will be equal to the t:aclerati National Mortgage Associations required net yitid as of a date and time of day specified by the Note Holder for (i) if the original term of this Note is greater than 13 years, 30-year fired rate mortgages covered by applicable 60 -day mandatory delivery commitments, plus five•cighths of one percentage point (0.625%), rounded to the neatest c;,c -cig huh of one percentage point (0. 123%). or (ii) if the original term of this Note is 15 years or ks>s. 13 -year fixed rate mortgages: covered by applicable 60 -day mandatory delivery cimtmitments. plus five - eighth* of one percentage point (0.62.4%). rounded to the nearest one- eighth of one pmentage Point (0.125%). If this required act yield cannot be determined bemuse the applicable commitments are not available, the Note Holder will determine my interest rate by using comparable information. My new rate calculated under this Section 3(B) will not be greater than the Moximum Rate stated in Section 4(D) above. (C) New PayttttaN AwmW aM Ef edive Dale If 1 chase to exercise the Conversion Option. the Note Holder will determine the amount of the monthly payment that would he sufficient to repay the unpaid principal I am expected to owe on the Conversion Date in full on the maturity date at my new fixed interest rate in substantially equal payments. The result of this calculation will be the new amount of my monthly payment. Beginning with my first monthly payment after the Conversion Date, I will pay the new amount as my monthly payment until the maturity date. C. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER I. Until Borrower exercises the Conversion Option under the conditions stated in Section B of this Adjustable Rate Rider. Uniform Covenant 17 of the Security Instrument is amended to read as follows: Ttraaafer Of tk Prsgiertr or a Beaerkial Igtet! d pat Borrower. If all or any part of the Property ar any interest in it is sold or transferred (or if a beneficial interest; in Borrower is sold or transferred and Borrower is riot a natural person) without Lender's prior written cot►wvst:,, Leader may, at its option, require immediate payment in full of au sums m. ,ured by this Security Instrument. Hosrc'ver, thfs option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. Lender also shall not exercise this option if: (a) Borrower causes. to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were (w.'in0 made to the transferee; and (b) Lender reasonably determines that Lender's security will not be impaired by tl_�w f�4d�, ""-— "w%t«i t Mt ,t".:;ai. of w v iw88 of city CvRtiNtiii ur agrsTtrtentlrrtilts 3etQri1y Instrument LS ACCl�1tAt1j to LClnia. To the extent permitted by applicable law. Lender may charge a reasonable fee as a condition to Lender's consent to the stun sauu- prison- Lender ^use may requite the trorisferee io sigii an assumption agrccmwi tot is ai�mplable to Lender and that obligates the transferee to keep all the promises and agreements made in the Note and in this Security Instrument. Borrower will continue to be obligated utrricr the Note and this Security Instrument unku Lender releases 8orxthwer in writing. If Leader txercises the option to require immediate payment in full. Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed wit%q which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pity these sums prior ia' the expiration of this period, Lender may involve any remedies permitted by this Security Irisrrurnent without furtbW -' notice or demand on Borrower. ,�. If Borrower exercises the Convefs;Wa gpdi m under the conditions stated in Sectiorn >ir of this Adjustable Rate Rider;, the amendment to Uniform Covenant: l'7. sir Mr. Security Instrument contained in Scion C I above shall then cewin be in effect. and the provisions of Uniform Cautttant 17 of the Security Instrument shall instead be in effect, as fwtarMs: TraWer of tk Frepoty or a Bemeneial laterpt iN Borrower. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest its Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may, at its option. require immediate payment in full of all sums secured by this Security Instrument. However. this option shall not be exercised by Leader if exercise is prohibited by federal law as of the date of this Security Instrument. if Lender exercises this option. Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Adjustable Rate Rider. (Seal) rtruwCT (Seal) M SEGUIN tiarroxer t�cait • ltrir � M• 1 r► i�