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<br /> FNRZ-3116-2
<br /> If 1 want toexerciso tha Conve�ion Oplfon,l must f�rst�1Kict cenAin condiaana.Those canditiona nro that:(i)I mu�t
<br /> �iva tlie Note Holder noticx tFut I wtnt to do�o;(ii)on tt�a Caqvrersion D�te,I mu�t not be in doPault under the Nate or the ,
<br /> Security Instrument:(iii)by a dwte�pecifiod by.the Nota Halder,I muat pny the Nota Hatder a convsrsion fee of U.3.
<br /> s �pp ;and liv)1 must rign,and give the[Vote Holde�any documents the Note Holder
<br /> - rcquires w effect tbe conversion. -
<br /> (B)Calculatba at�ixed Rnte
<br /> My new. fixed interest rate will ba equal ta tha Pederal Nrtionul Martguge Assaciotfon's required net yiold '°��
<br /> as of a date and tlme of day specifiod by the IQote Haldor for.(i)if the orlginal term of thia Nate is grcatcr than IS
<br /> ---- ____-= years,30-year fixed rato martgageF cavered by�ppliaabla 60•day mandatory delivery c�mmitrnents,plua�ve-
<br /> - __----- eightha of one percentnge paint 10.62396), rounded to the npatnst one-eighth of an�percentage point 10.12396),or
<br /> (ii)if the originol term of this Not�is 13 years�r loss, IS-ysanB�ced rate mortgages covercd by applianble 60-day
<br /> i _ _�� mondatory delivery commitmanta,plus fiva•oigbtlts�of on�+patcentaEe polnt(0.625�.),rounded ta the neareat —
<br /> � -- -- _ one-eighth of one parcentage point(0.125�6►. )f thi�requirBd nat yield c�nnot be determined b�cause the uppli-
<br /> cable commitmentR are nat �vailoble, tha Nate ttaldnr�wil�.datarmina my interest rute by using compnrable
<br /> . ;� information.My new rnte celculated undarth isSectian S(D)will nMbe g�euter thnn the Moximum Rate stated in Secdon
<br /> ,_•r— K;y.:�;,� 4(�)above•MY INTEREST RATE WTLL N�V4R:Bff� 6REATER THAN 9.730 PERGENT.
<br /> ` ' (C)•Ne�v A�y�neat Amount pad EtYactive Det�s
<br /> •'..r.;,•U+:.i'a' ?r`�_ _
<br /> - _ ��; •-'�'• If 1 ef�oost�[o exerciss the Conversian Option. tho Nota Holder will determjnc the umount of the monthly _�
<br /> �L � ` x payment that wou[d be Fuffioi�nt ta repay the unpaid p�incipAl l um expected to owe on ihe Conversion Date in _-
<br /> � full on the c�uturity date at my naw fixed interast rate in•sa6stantially equul payments.The recult of this calcu-
<br /> ,. . ���::..:. ��
<br /> , Iation will be tl�e ntw amount of my m�nthly pAymant. Bcsginning wi[h my first monthly pAyment after the --
<br /> •• , Conversian Date.l will pay tha naw umaunt as my monthly payment until the Maturity date.
<br /> `�� . " C.TRANSFER OF THE PROPERTY OR A HENC�ICIAL INTEliFST IN BORROWE[t —
<br /> �� .. l. Until Borrower exeraises the Com��rsian�Option under�he conditions stuted in Section B of this Adjust-
<br /> AW8 R�i@ R1dC7,�l�njform Covenant 17 of�the Sccurity Ins�rvmen�is umended to read as folluws:
<br /> " 7tAnster oY tae Property or a Ben�fiaia6latarest in&►rrower. If nll or any part of the Property or Any interest -
<br /> � ^ in it is sald or transfarred(o�if a benefiuial intar�st in Borrower is sold ar trnnsFerred the Borrower is not A
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<br /> ,,-----:.--:' natura!prrsan)u�itraut Lenslers prFar�Yritte�zeas•:r.t..!er.s��rm��.at its eption, rtq!�ire imm�t�iate pnyment in
<br /> s ,", `. ` "�:�,,�:` full of ull sums s�cured by thin Securi�y Tnssrument.Hawever, this option shull not be exercised by Lender if
<br /> � :'`���'• excrcice is prohibitcd by federnl Im��•u�ot'•thc date of this Security Instrument. Lender ulso shall�»ot excrcise this
<br /> ���' � ' . op�lon if:(n)Borro��r cuusrs ta be suHmitted to Lender information required by Lender to evaluate the intended -"
<br /> . � • trnnsferee as if a neu�tann�wero beinp mucie co the transferre:and(b�Lender reasonubly decermines th�t Lend- �`
<br /> � • er e security will nat•be impwir�sd�b��tho Inan assumption and th�t the risk of a breuch of Any covennnt or �
<br /> �. • -
<br /> ° , �� agreement in this Security Insctvir�nt�is ac.:rplable ta l.ender. _
<br /> ' To the extend permitted b�•applioablo luw•, Lender muy charge u ren,onuble fee as A condition to Lender's -
<br /> �j� , -� �y- consent to the loan,ussumption. Lender ut�a muy require the tramferee t�si�tn un nssumption agreement that is ---
<br /> (".. , � bcceptable to Lend�r and thut obliguta�th�e irun.feree to keep oll the promi+es und agreements mnde in the Note `-_-_
<br /> '` und in this Security Instrument, Barrower will continue to be obliguted under the Note und thi� 5ecurity Instru- �_
<br /> .. • ment unless lender releas�,Barrm+tir in writing. - -
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<br /> • "' ---`-�:``"`°° 1f Lender cxcrciccs the opNnn to rcquire immedi:�t�payment in lull. LrnJer tihnll give Borrou•er notice of !�
<br />� '�'`�� acceleration. The notic� xhall pro��ide r period of not les� than 3Q da}� t'rom the dutc the nnti�e is delivered or �_
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<br /> �,, , - mniled within whicl�Bormaer mu�t pay all sumx,c:cureJ by ihi� Srrurity In�trument. If Borrower fails ta pny �,-
<br /> these cums prinr to thc expirntinn of thi. perii�d. Lrnder muy invnke uny rrmedie� permitted by this Security �`�=
<br /> � Instrument without further notice or demand an B��rro���er. :. _
<br /> ' ' 2. If Borrower exercise� the Com•cn+on Op�ion under thc condi�ion� .�ateJ in Section B of this Adjustable
<br /> - ' Rute Rider, th� umenJ�nent of Uniform Cuvenunt 17 of the Security In.trumrm contained in Section C I above �', `
<br /> � { , sBall then ceuse to be in effect, and the pro��i.ion�of Uniti�rm Co�•enunt 17 ot'the Security Instrument shall �;��
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<br /> '� instead be in effect, as foUou•x;
<br /> , �. '��=
<br /> ;�� 'IYansfer of the Property or a Bcneiicial Intcrest in Bor�ox�cr.I f ull ur uny part nf the Pn��rty or uny interest
<br /> ; .�• in it is sold or transferred �ar if c►bencficial intrre,t in Bc,rm��•�r i,.oW or trun.ferred and Borrowrr i. not a
<br /> • (:�� ' . naturol person)without Lcndcr'.prior N•ritten con.rnt, Lrn�irr may.at ia��ptiun, r�yuirc immediate puyment in
<br /> �ic': � full of all sums secured by thi.Securiq ln.trument. Ho�ve�•er, thi.opticm .hull not be exercised by Lender if �
<br /> a��j• ,
<br /> exercise is prohibited by federal lua�u�of the date ol'thi.Serurity Imtrumrnt.
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<br /> ���• If Lender exercises this opti�h, Lend�r�hall �i��r B��rr��aer notire ai'arcelrrati��n. Thr not+cr shull pm�•ide �
<br /> . � � a periad of not Irss than:�(1 du��.from the date thi nutirc i�deli��cred or muiled��•ithin which Borrow•er mu.t pa� �
<br /> • ;.t All swns secured by�hi�Serurity In.trumcnt. 11'Borrow•cr f.iil�t��pa�•thru �um.prior t�i the expir;ui�n uf thiti '
<br /> • �; period.LenJer muy invuke ony remedies perm�ttrd by this Security In�trumrnt w•ithout I'urther notire o�Jrmund �
<br /> ' . � on Borrower. �
<br /> � BY SIGNING BELUW,Horro��•�r acccptti und ugrce,tu the trrm.a�ro�;c�hunt.wintciinrJ in thi�Adju�tublr ,
<br /> r--=;: , .—_— Rute Ricier. ,-
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<br /> Q' � � MI ON STOPPK TTE MiCHAEL STOF3PkOTTE
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<br /> ���' � ., ° � KAY M STOPPKOTTE BRENDA H STOPP OT7E
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