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<br /> T�1� If!want to exercicc thc Canveralon Option,I must fi��t mcet certain conditiane:Th�fc conditibt�t�a�[lfih:(�i�1 muat
<br /> ~i�+ give the Note Holder nMi�e tha�I want todo co:(il l on the Convc��ian Date,l must not he in dePuult under th�No�e�r the _
<br /> ��`�� Securlty Inatrumenr.(iii)by A dpte�pecffied 6y the Nnte Holder,l muct puy the Note Holder u conversion fee of U.S. `� - -
<br /> ��'_! S 100.00 :ond(iv)I muet cian nnd Qlve thc Nute Hulder nny dncuments�he Nate Holder
<br /> ��� requires to effect the conversion. �
<br /> °'� �, .� lBl Coleulatbd of Fixed R�te `- °
<br /> ---,._.��' My new. fixed in�erest rute will be eyuul to the Federal Nationul Martgnge As,cxiutian's required net yield
<br /> � -- ,� ns of a date und time of day �pecified by�he Notc Halder for 1 il if ihe originul term oP this Nute in grenter thun IS
<br /> - �:���; yeurs.30-yeor fixed rute mortguges covered by npplicable 6U•duy mandutory delivery cammitments,plus five- _
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<br /> — °;�ti�.,� � eighths of one percentuge pofnt (0.623°�), rounded to thc nearest one-cighth of one percentage polnt(Q.125�k),or i�—
<br />____ °'�'��_�?� (ii)if the originpl term of this Note is IS yeors ar less. IS•yeur fixed rate mortgages covered by applicuble b(1-day ___ _
<br /> ��:b;., , �.: � mandatory delivery cammitments, plu�s five-eighthc af one percentuge paint Iq.625�k),rounded ta the neareat -
<br /> �""a` • ` . one-eighth of one percentAgc paint(0.125�01. If thls required net yield cunnot 6e detcrmined becuuse the uppli- �_-_-__-
<br /> --�-�� , � � cable cammitments are not uvnilnble, the Nate Holder will determine my interest rute by using comparable
<br /> � �''s"" '�" " ` " informution.My new rate calculated underthis Secdon 3(B)will not be greater thAn Ihe Maximum Rate stated in Section �=
<br /> ��:�--�;.,�.;
<br /> .— .—,--__—___�.--_.l.—_"-
<br /> �'.: ""�''��.�;,u,�„ 4(D)above. FiY INTEREST RAT� WYLL NEVEk BE GREAT�R THAN 13,Oa0 PERC . r° -- -
<br /> ��-"p'°t,.� ° ��' (C)New Pa,vraent Auaunt Aad Eftective DWe ,.__
<br /> ,"�'''ea`+'.__._ "..
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<br /> :;i;;,,�'.��r ' �' If 1 choose to exercise the Conversion Option. the Note Holder will determine the umount of the monthly �,y,��=
<br /> - �`` payment that wauld be sufficient to repay the unpnid principul I am expected to owe on the Conversbn Qace in
<br /> �1� .:,` :, .. .. full on the maturity dute At my new fixed interest rate in substantiully equul puyments.The result af this calcu- �{�� _
<br /> Is�tion will be the new amount of my monthly puyment. Beginning with my first monthly p�yment s�fler the
<br /> ° ,��'� •..`'�°' , Couversion Dute.I will pay ehe new amount as my monthly pnyment untit the Maturity dute. ��=
<br /> ��' f�•�l., � `_
<br />_.F...� ,,�,° ���', . C.TRANSFER OF TIiE PROPEItTY OR A BENEFICIAL 1NTEREST!N BORROWER -
<br />;�, ... , �::`;�►�
<br /> '��� °' � 1. Until Borrower exercises the Conversian Option under the conditions stuted in Section B of this Adjust-
<br /> • able Rwte Rider,Uniform Covenant 17 of the Security Instrument is umended to read us Follows:
<br /> �.� „ . �..-,.�•
<br /> , ��4 � Transfer ot the Property or p Beneiicial lntcrest in Borrower.If ull or uny pArt of the Prope�ry or uny interest ��. ._.-
<br /> �:'• - . _ = iii it is sold ar irarssferred tor 'sf a benefizla! interest in R�rrower i�snld or trnnsferred the Borrawer is not a =_
<br /> natural person)without Lender's priar written consent,Lender may, ut its option,require immediate pAyment in �
<br /> � � � • full of nll sums secured by this Security Instrument. However, this option xhali not 6e exercised by L.ender if F, - ..
<br /> � �'`'� exercise is prnhibited by federal Inw us of the dnte of this Security Instrument. Lender ulso shall not exercise this
<br />' •• . option if:(a)Borrawer cnuses to be submitted to Lender informntion required by Lender to evaluate the intended • °`�"
<br /> .� • trunsferee ns if u new loun were being mude to the �ruosferee;nnd Ib1 Lender renxonubly determines that Lend- ' ��
<br /> f ° er's security will not be impaired by the loun ussump�ion und that the risk of u breach of uny covenunt or �.��
<br /> � � agreement in this Security Instrument is acceptnble to Lender. �
<br /> . �� • ' To the extend permitted by upplicuble luw,Lender muy ch�►rge u reu�onublc fee as u condition�o Lender's ,;;'=�:
<br /> � ��� '' �onsent ro the loun ussumption. Lender nlso may require thc�runtiferee to,ign un ussumption ugreement thAt is
<br /> i
<br /> � ��� acceptable to Lcnder and thut o6ligstes thc trunsferec to keep ul I the promities and agreements made in the Note
<br /> � ,�t _ � ' und in this Security Instrument. Borrower will continue to be obligated under the Note and this Security Instru- �-�---�•-
<br /> , ��.
<br /> � . �.• , n�ent unless lender releases Borrower in writing. �- -
<br /> � �� • •: . If Lender exercises the option to reyuirr immediute puyment in full, l.ender�hall give Borrower natice of �;,.�--
<br />-- � � accelerntion. The notice shall pro�ide a period of not Ie++ than 311 Juy, from the J•rte the notice is delivered or . ..,.:���_"
<br /> ' h`�":�```� mniled within which B�rmwer mu�t pny ull xums,erured hy thi�Security Instrument. If Borrower fnils to pay
<br /> � these sums priar to the exp�rati�m c�f this prriod. Lrnder muy invokr uny remedies permitted by this Security �_;._
<br /> L�� Instrument without further notice or demund on Borrowcr. ��=-" -� �-
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<br /> . � . 2. If Borrower exrrcise�the Com�cr�ion Option under the conditinn.+tuted in Section B of thi�Adjustable � . �
<br /> Rute Rider.the umendmrnt af Unif�xm Covrnant 17 of the Scrurit�• Imtrumcnt rontuined in Section C I above
<br /> � u' • �' shull then ceuse to be in ei'fect,und the prrn•i�inn+ of Uniform Covenunt 17 of the Security Instrument tihall
<br /> . �� insteud be in effect,a+ti�l Inw,: ���"`�
<br /> '[l�nsfer ot'the Property or a Beneficiul Intcrest in Borrow•cr.If all ur:un part uf�hc Property ur any interest ! �
<br /> in it is sold or trunsferrrJ �or if a benefirial intcrest in Bnrrowrr i.�aW��r�ran.l'rrred anJ Burmwr�is not a t
<br /> ' naturnl peryonl without Lrnder's pri��r written�un.rnt.L�n�rr may, at it�op�ion, rryuirr imm�diate payment in �
<br /> � full of uU sum,secured hy thi,Security In�trumcnt. H��a•r�rr,thi�optiun ,hull ni�t be rxercisrJ by Lendrr iY �
<br /> � exerci�e i.r prohibitrd by fcdcrul law u�ut'thr du�c uf this Srrurity In�trununt. � •
<br /> . � ' ' If Lender excrri�e. thi,optinn. I.rnder ,hall �!i�r Burmurr noticc uf acrcl�ratian. The ni,tire .hall prc,viJ� .
<br /> u period of nnt Ics��han �U Jay.fmm thr dutr thr n�►urr i, deli�ered ur mailcd���ithin a•hich H��rr����•cr mu�t pay I
<br /> � uU sums secured by thi.Seruri�y Inxtrumcnt. If B��rr��arr faih �a na� thr+r �um�pri��r to Ihe rxpirati��n��f thi.
<br /> ° peri��d. Lender may im•okr uny remeJic.permiu�d h� thi,S�rurit� In.trumem with��ut t'urther n�iticc��rdrmund �
<br /> • on Borrower.
<br /> . ..l •�.: A.1'. �.1.1.. .
<br /> . -_' BY SIGNING B�LUW.tsurrov►•�r arrcpc.anu:�Ercc+m iii� irnn�:niu C��:rii.iiii.:.���Q:;ii�:.., i�� .���..,...j,:'........ .
<br /> i Rute Rider.
<br /> , E1?�y/�f i�/`,'.�'"�—�.
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<br /> . . . ... ... .. ... . . ise:��► i �.,.���
<br /> ... ............ ... .. . . . H�q mwa N.q roue�
<br /> JAM S M HART JR
<br /> , ................ .... ... ... .... ... ... . . .. .�ti�aU /��.z.�:t�. . ..��... ."'.r�"`-.�... . . Itical�
<br /> Itui tu��c� 11�.rmwrr
<br /> ROE�ERTA H 1iART
<br /> • Form311�1�/i���..�•r:•r:�.,r.••
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