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<br /> � FNR2-31 iQ—�
<br /> 93- �
<br /> !tI wpnt to exe�ice the Comcnbn Optbn.l must Bnt mect ccrt�ire ca�iiditicm���condilions�ro Iluit:(il I mu�t
<br /> �ive the A4nte!#ol�r�w1ke that 1 wnnt toda so;(li)on the Convcr�bn vate,l mu�t iwt be in dei�ult uoder tho Notr orthe
<br /> Securlty I�rumen�;(iiil by�d�to�peciPied by the Note Hofdor.I mu+�t p�y the Note Hcdder a conversion fee a1'U.S.
<br /> s • ;�d fiv) 1 must s+i�n and�ive 1he Note HuWer�ny documents�he Note F�older
<br /> nquire�tr effect Ihe convenbn.
<br /> -==a - (Hl C�Icul�tloa otFi�ed Rate -
<br /> My new. tixed intereat rate will be equol ta tha FcderAl Nationpl Martgage Assocla�lon's requircd net yleld
<br /> ae of N date artd Nme oP day epecified by the Notc Holder for(i)if thc original term of thls Note is greater�hpn 13
<br /> ye�rs,30-year flxed rate martRages covered by upplicuble 60•day mandatary delivery commitments, plus five-
<br /> efghth�uf ona percenta�e poinl i8.625�),ruunded to the ncar�t one-eigi�li►uf'one percentage point(0.125�o),ur �
<br /> ---- (ii)if the original tecm of this Note is 15 years or less, 15-year fixed rate mortgages covered by applicable 60-day
<br /> -- --- == mandatory delivery commitments.plus five-eighths of one percentage point(0.6259�'r),munded ta the naarost __
<br /> �� onaeighth of one percentage pofnt(0.12596). If this required net yield cannot be determined because the appli-
<br /> ceble commitments Are not avoilable. tht Note Holder will determfne my interest rate by using comparable
<br /> -- informution.���ro�v_ret���c��at R�Td�grth ILL���NEVE�W EE�L3�R�ATER�THRN 10 873 t PERC iENT;�ion
<br /> --_ — 4(D)abovc. NT W
<br /> 'A,' (C)1Vew P�yment Aa�ouat wad Ef�ective Date
<br /> - ''`, If I choose to eaercise the Conversion Option.the Note Halder will detcrmine the Amount of the monthly -�-
<br /> �'.�'�'� +� payment that wauld be suf�cient to repay the unpaid principal 1 am expecced to awe on the Conversian Date in �
<br />"�°�'� ' full an the maturity date at my new flxed interest rate in substantially equal payments.The result af this calcu-
<br /> ,;,:.., .
<br /> �� � 'y����•�� latian will be the new amount af my mo�thly payment. Beginning with my first monthly payment after the
<br /> _ . ��{';:
<br /> ,;� Conversion Date.I will pay the new amount as my monthly payment until the Maturlty date. ,
<br /> � ��Y � ,, C.TBAN3FER OF TNE PROPERTY OR A BENEFICIAL INTEREST IN BOR[tOWER
<br /> 't�.•t�.,:•r
<br /> .L„,�� ,...r� l. Untll Borrower exercises the Conversion Option under the conditions stated in Section B of this AdJust-
<br /> `:::< "'°�'�'�`' able Rate Rider.Uniform Covenunt 17 of the Security Instrument ia amended to read as fol lows:
<br /> :: -�-:.�v=•...�
<br /> -'� � .,r_�.��.
<br /> ' y""'"'�"�� 'itaasfer o�t6e Property or A Beaeticial laterest in Barrnwer. If all or any pnrt of'the Property or any interest
<br /> �'....•
<br />--�:;.;.,
<br />::�,,,,..� ,. ,; in it is sold or transferred(or if a beneficial interest ln Borrower is sold or transferred the Borrower is not a
<br /> -"� � ��'^�'��°'�-<��^�';,����J naturel person)without Lender's prior�vritten consent. Lender may.at ics opcion.requirc immediute paymcnt in
<br /> .'j���":;�;;�`;,:.;f;,:';`,; full of all sums secured by this Securiry Instrument. However.this option shall not be exercised by Lender if
<br /> '"'�"• �' exercise is prahibited by federal law ua of the dnte of this Security Instrument. Lender ulso shall nat exercise this
<br /> :..;:�•,:,`,. .';,'- '
<br /> `r'. ' � "''' ' . option if:(a)Borrower cuuses to be submitted to Lender informntion required by Lender to evuluate the intended
<br /> .'G.7Y:"61,F- .:{.:�� �
<br /> ��.�A�:,�r,�.. � �'• transferee as if a new lonn were being made to the transferee:und (b)Lender reusonubly determines tbat Lend- _
<br /> ,• �`"� . �. .. er's security will not be impuired by the laan pssumption and thttt the risk af n breuch of nny covenunt or -
<br /> _ ,:j�,��,:;•;:;... :'. :: agrcement jn this Security Instrument is ucceptable ta Lender.
<br /> w�.,� .-. . ,��,,,. �
<br /> To the extend permitted by upplicable low. Lender muy rhnrge A rensonable fee as n condi�ion to L¢nder's
<br /> � � conscnt to the loun nssumption. Lender Alco muy rcyuire the trumferee to siFn un n�sumption ugreement thut is
<br /> � '�""'.' � ��K � � acceptable to Lender nnd thot obligates the trunsferce to keep ull�he prnmiceti and Agreements mude in the Note
<br />'r �!; :._; '�� .
<br /> • ,.;,.��t;'�;;_,__. .. and in this Security Instrument. Borrower will continua to be obliguteJ under the Nnte and this Security Insau-
<br /> �1° °' -�i',. ment unless lender releases Bormwer in writing.
<br /> .�,: .-�t�-�• .
<br /> • ;�� �. If Lender exercises the option to require immediute pay�nent in full. Lender+hal I give BorrowNr notice of ��•
<br /> . s��.'��` • acceleration. The notice shall provide u pericxi of not ksti thun 30 days from ihe date the notice is delivered or ���'�
<br /> ��.. .. mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrowcr fuils to pay ���
<br /> • these sums prior to the expirntion of this period. Lender may invoke uny remedies permitted by this Security
<br /> u �.�_: <<��,,. ,�: Instrument without further notice or demanci on Borrower. �
<br /> .. � , ,;,i:a'E�•. --
<br /> +- • >'�•:����.� : � 2.If Borrower exercises the Conversion Option under the conditions stnted in Sec�ion B of this Adjustuble __
<br /> � '..;Y� `-�.1Y...-�. . ' -"'-.
<br /> _ Rate Rider,the umendment of Uniform Covenant 17 of the Security Instrument comained in Section C I above
<br /> "` 3�' ���• shall then cease to be in effect, nnd the provi�ions of Uniform Covenunt 17 of the Security Instrument shall � •�
<br /> "��.'.� �� ��� • s a d b e i n e f f e c t a s f o l l o w s:
<br /> in te
<br /> i:, '.��,s:� ' --
<br /> �- ''� '" 7�nsfer of t6e Pro rt or a lienrficlal lnterest in Borrower. If aU or any part of thc Pmperty or any interest ��
<br />_� rV ', „�.,.�:u. ... P� Y
<br /> y In it is sold or transferred(or i f a beneficial interest in Borrower i.+nld or tranxferred and Borrower is not a �_.�-
<br /> :s.�.•
<br /> ; ��• , nawral person)without Lender's prinr writtcn con,ent.Lender muy,at it�option, requ ire immediate puyment in �;
<br /> �� ,; full of all sums secured by this Se�urity Instrument. Hawe��er,ihi.option ,hall not lx exercis�d by Lender if � {;.
<br />�.) ��:' � .;i:r',.,� � , exercise is prohibited by federul law os of the date of thi�Securit��Inxtrument.
<br />_ `' " :-i,;�.,�� lf Lender exercises this option, Lender shnll gi�•e Borrower nc�tice of uccrkrution. The ncitice .hall pro�•ide ,
<br /> . . a period of not less thnn 30 dayti from the dute the n�nice is delivered or muiled within which Borrower must pay �
<br /> ` • all sums secured by this Security Instrument. It Bormwer fuil.ta pay thetie .um�prior ro the expiration of thi,
<br /> ti... ,, o .
<br /> �. .�,�. �,,, ;,,,.;r.�_,.,. period.Lender mey invoke any remedies permitted by thi+Security In+trument without further notice or demand �.:
<br /> ,-� � ,.. on Borrowec
<br /> `- ----:?',:�a��:,;��Y_�:• nv c�nnttnt[t RF�.[�W. Rnrrower vcceut,und u�rees to�he terms and ro�•rnunts contained in this Adiusiable
<br /> --
<br />-�:T-_ .-�,�r� _ -- ---- -- - --- • • - .. - .
<br /> � �---
<br /> Rate Rider.
<br />- t: �;���', ............................. .(5e111) �!...�C��.Q.��'!:�!!l........... ....._ _. �S�r�� � .
<br /> �.:�:� �3��•<i�,4�t�,. : ..........
<br /> dnrrouer B��rrowcr
<br /> ° RICK D EWALD � .
<br /> .. ,` -` � , (Seul) _ // 1���(.��[K,.�..���"�."'`�C, .. (5eah i .
<br /> .�.�5 ;�-`�� :�..�. ......................................... ARTHA�J� EWALD �
<br /> .— .Ny`�t:• �•, � � •BU«UNY� M B�1fT�Nl`t � .
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