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200108259 BALLOON RIDER (CONDITIONAL MODIFICATION AND EXTENSION OF LOAN TERMS) THIS BALLOON RIDER is made this 10 t h day of_ Aug u s t 2001 , and is incorporated unto and shall be deexred to amend and suppkment the Mortgage, Deed of Tnist or Deed to Secure Debt (the "Security Insburnene.) ofthe same data given by the > ,signed (dw °Borrow& I to secure the Botw%ves Note to Bank of Doniphan, Doniphan, 1V t; (�'�e„)of��cov�g�pvp��in��rity Instrument and located at 2515 Mill River Road, Grand Island, NE 68801 [Property Add=] The intamt rate stated on the Note is called the "Note Rate." The date of the Notc is called the "Note Date." I undastatd the Lender may transfer the Note, Security Iustrurwit and this Rider. The Lender or ar,,yone who W= the Note, the Security Insmnutvw and this Rider by ttanafrr and who is eabded to receive payments under the Note is called the "Note Noma." ADDITIONAL, COVENANTS. In addition to the ooveaants and agrcancrits in the Security Instrt mm; Borrower and Lender farther covenant and ages as follows (despite anything to the colrtary contained in the; Security Iristrtament or the Note): 1. CONDMONAL MODIFICATION AND EXTENSION OF LOAN TERMS At the maturity date of the Note and Security hmimmt (die "Note Maturity Darts'), I will be able to extend the Note Maanity Datc to September 1 2 0 31 (d,e ' `Extended Maturity Date'l and modify the Note Rate to the "Modified Note Rate" dmmmned in accordance with Section 3 below if all the conditions providodnn Suctions 2 and 5 below are met ( the "Conditional Modification and Extension pptiotl"). Lf those conditions are not met I tmdcxstand that the Note Holder is under no obligation to refinance the Note or to modify the Note, twd the Note Rate or extend *4 Note Maturity Date, and that 1 will have to repay the Note from my own resources or fund a lender willing to lend me the money to repay the Note. 2. CONDITIONS TO OPTION If I want to exercise the Conditional Modification and Extcasiar Option, certain conditions win be met as of the Note: Maturity Date. These conditions are: (a) I must still be the owner and occupant of the propetty subject to the Security h strutnart (thc "Property); (b) I rest be current in my nmonthly payments and carrot have been more rhea 30 days laic on any of the 12 scheduled monthly payments urnr>ediately preceding the Note Maturity Date; (c) there are no liens, defects, or encumbrances against the Property, or other adverse mtMts affecting title to the Property (except for taxes and spocW assessuterrts not yet duc and payable) arising after the Security Intsanm= was rocotded; (d) the Modified Note Rare cannot be more than 5 per centagc points above the Note Rate; and (e) I must make a written request to die Note Holder as provided in Section 5 below. 3. CALCULATING THE MODIFD NOTE RATE The Modified Note Rate will be a fused rate of interest equal to dte Federal Homc Loan Mortpge Corporation's rcgmmd net yield for 30 -year fixed rate mar%ages subject to a 60 -duty mandatory delivery commitment, phis one -half of one percent (0.5 %), rounded to the nearest ono- Cighdi of one pacetrt (0.125°/x) (the "Modified Note Rate'). The required net yield shall be the applicable net yield in elect on the date and bins of day Shat I notify the Note Holder of my aloci ion to exercise the Conditional Modification and Fattension Option. If this required nct yield is not mailable, the Note holder will determine the Mortified Now Rec byusing oomiparable infomrlation. 4. CALCULATING TFIG NEW PAYMENT AMOUNT Provided the Modified Note Rate as calculated in Section 3 above is not greater than 5 percentage points above the Note Rate and all other conditions required m Section 2 above arc satisfied, the Note Holder will deter wit. tine amount of rite momMy payment that will be sufficient to repay in full (a) the unpaid principal, plus (b) accrued but unpaid ulterrst, plus (c) all other sum I will owe udder the Note and Security Insaunleat on the Notc Matur ty Date (assuming aW ntondily payments than arc current, as requited under Section 2 above), over the remaining extended term at the Modified Note Rate in equal monthly payments. The result of this ealcul=on will be the new amount of my principal and interest paymxxrt every rnoa I until the Note is fully paid MULTISTATE BALLOON W1111t (MMifwtiea and Extemdan)..Single Pamily— Dreddk Mae UNIFORM rNSTACMCNT Pont 3110 1101 &W.. 1 vp prge.q