|
!"f i._I .� ,` - v .` ��.� .�.,.... .�-r .
<br /> t � !1'__�_.Y
<br /> �.�.,o,s, �.....,.__._.��, ._.�..._I __ __ _
<br /> p':,.�::-:``;:�� ..
<br /> ;.._. ::��:.�• r ��•�.�"�fs�`� PNR2-9118-2
<br /> ;',:�x:"�;,;;,.
<br /> '����!`+.� -4;,". IflwanlrocxcrciactheConvcrsionOplion,imustfirs�mcetccrtalnconAlUons.Thoseconditionserothac(i)Imust ,
<br /> n`:. .; ' " givotheNoteHoldcrnmice�hatl�vamrodoso:01)onthaConvcroionpate,ImustnotbelndcfeultundcrthoNoteor�he
<br /> °��-:"�,'�'`°"v% Secudly lnslrununl;piq by a date epecitled by the Note Holder.l mus�pay Ihe Nnte Holder n cam•erblon fee ot U.S.
<br /> , � � n� g ,pp ;nnd(Iv)I must sign end gh•o�he Notc Halder any documems Ihc Noie Hoider � °-��
<br /> ' requ(res to eftect�hc convcrsion. k '°°—
<br /> f i __;�g� (0)CalculattonotFlxedRere � �,-; .--
<br /> ',;� My new,fixed Intcrest rate wlll be cqual�o the Federel Natfonal Mortgage Association's requlred net ylcld �_�
<br /> v -- i�-�� as ot a date und time of day speci(icd by the Note Holder for(i)if ihe originul term of this Notc Is greater�han I! ta _ _
<br /> ���� years,30-yeer Fxed rete m�ctgoges covered by applicable 60-day mandatory delivery commf�men�s,plus five• _
<br /> +. -_ cighths of or.e percentage point(0.625�i6),rounded to the neares� onaeighth of onc percentage point(0.123''h),or � ; __ .
<br /> . _:,; (ii)if ihe original rcrm ot�his Note is IS �rars or less, IS•y�zar fized rate mortgages covcrcd by appl{cable 60-dsy St�_:__v
<br /> - - --��� manda�nry delivery commlimems,plus five•eighths of one percen�nge polm(0.615%),rounded to�he nearesl �_.-..
<br /> �'�.� one•eighth of one percemage polnl(0.125%).If this required net yield cnnnot be de�erniined becnuse ihe appli• �--i�
<br /> ;�-. ;�l{ ca61e commi�menis nre not nvaileble, the Note-Hn1Aer wlll derermine my Interes� rnte by using compnrnble tlr'�- •.-.�
<br /> •.ti,_��sl�:�lv� Information.MynewratecalculattdunderthisSection5(II)willnotbegrcaterthan�heMaximumRnteslntedinSection �t_"_._'�-
<br /> s ���t�YS�e�}'��4� 4(D)ubo�•c.►{y INTflREBT RRTB HiLL NHVER BB aRE1178R TNAN 10.125 PBRCBNT.
<br /> { r�z { },r. (C)New Paymcnt Amount and Etfectlr�c Date
<br /> '- If I choose to exercisc ihe Conversfon Optlon,ihc Note Hoidcr�vill deunnine ihe umount of�he monthly . . _.___
<br /> '.���- payment�hat would be sufficiem to repny Ihc unpuid principal 1 nm expected�o mec un the Comersion Datc in
<br /> '�-� .11' . full on the mawri�y date at my new Cxed interes�raie In suhs�antlally equal paymen�s. Thc resul�of�lils enicu•
<br /> , • ;,,,P�. Imion wlll bc �he new nmoum of my momlily pnyment. Deginning wfth my f(rci monihly prymenl otler the
<br />- Convcreion Date,I will pay ihc ncw amount ne my momhty paymem umil thc Maiuriiy dme.
<br /> �" �'�' C.TRANSFER OFTIIB PROPERTV OR A DM:NNNICIAI.INTENtS'1'IN IfORROWRR
<br /> .. -�� :. .
<br /> - •;, � :'; I. Umil Rorrmvcr cxcrcises�hc Cnmcrsion Opiion nndcr ihc rnndiilons siaud In Sccdon 0 nf ihle AdJusi•
<br /> ..:.� ��� able Rote Rider,Unitonn Co��enant 17 ot�he Sceudty Instrument is umenAcJ�o rcnd m follaw+:
<br /> � ` :•� " 7}anster of thc Properly or a ISencticlel Intcrcat In Ilorrower�If all or any pan of the Property or nny Interesi
<br /> �� -- - in fi Is sold or unnskrred(or if n beneficlal intcres� in Itarrower Is sold nr trnmfcrced�he Rorrower le nol e
<br /> � �� namral penuni wiiSUui Lei�uer's ptlar urii:en carscrt, l.:nC.-t t�a�.:i it;cr:�r.r:G�!re!:.^..^.::•!lefe Fa;n+.tn!!� - ... .-.
<br /> - - �• full ot nll sums secured by this Security Invrument. Howcrer, tliis op�ion shall not be exercised by Lendcr If
<br /> Y�.�� �.'I}�.".
<br /> excrcisc is prohibited by fedcrnl law as of thc datc of�his Security Instrumem. I.ender also slinll not cxercise tAis
<br /> ,;�;,�•..";:� option if:(n)Borrowcr causcs to be submined to Lender information rcquired by Lender rocvaluate�he Intended
<br /> . transferee�s if n new lonn�vere being madc to�lic transferce:and(b)Lendcr rcasonably detennices that Lend•
<br /> . � er's securi�y will not be impaired by �he loan nssumption and that ihe risk of�breach of any covenant or _ _
<br /> . _ _ '-•-; agreement in this Securiiy Instrument is acceptabte to Lender. -_
<br /> :: ;i To the extend permined by applicable law, Lender may charge a reasonable fee as n condiiion to Lender's � •-
<br /> � � � consent ro�he loan assumption.Lender also may require ihe �mnsferee �a sign an assump�ion agreemem�hat is ��' -'°
<br /> . ��•'j ncceptable ro l.ender and that obligates tAe Imnsferec to kecp nll Ihe promises nnd agreemenls made in Ihe Note r'�v_"��
<br /> �';,,.,...-.
<br /> .:<��' �• ��+?��: nnd in�his Sewrity Instrument.Dorroaer will cominue tu be obligated under ihe Note nnd�his Secari�y instru• �7�,;,��-���-
<br /> �� ,', `!�t men�unless lendcr relcases Dorroo•er in wri�ing. ��___
<br /> -,.
<br /> � - If Lender exercises�he option to requirc immediate paymem m mil. �ender shall give Dorrower no�ice of ����>-°�
<br /> ecceleration.The noiice shall pro��ide n period o(not Icss�han 30 da��s fran the da�c the no�ice Is delivered or -_
<br /> ;- �r mailed within w6ich Dorraver must pay All sums secured bv ihis Scarity Instrument. If Horrower falls ro pay ` -_-� T
<br /> -- -. "• �hese sums prior w�he expirmion of this period. Lendcr may inroke any remediez permitted by�his Securiiy � �
<br /> i i _�,;1,t, Ins�rumeniwi�houtfunhernmicenrdemanJnnRormaer. �. '-"' �
<br />_�� ,� . ,��.n.,-�_._.�..
<br /> ;f,"!�-�:;;_.1-�;; 2. If 6orrower exerciscs the Conrersion Opiion under ihc candi�ions siatcd in Sec�ion B of this Adjustnble ��:':_;,«i;
<br />���';j�,;,,,;,,,;,,,^ Rnte Rider,�he nmendment of Unifonn Connant 17 0(dce Securitq Instn�ment contained in Section C I nbore � �
<br /> shall �hen cease �0 6c in effec6 and �he prm�isions of Uniform Coirnan� Il of�he Security fnstrument shall ' �'�'�
<br /> � .�;;?�-. inslcad bc in efkct,as follo��s: ' ° "`-
<br /> . .r„t `�:; '-"
<br /> �•�. 7Ym�sfcr of Ihe Proper�y or e Ocneficlai lntcrest In 6orrmrcr.If all or aiq�part o(�he Pmpeny or any intcra� - :.�%'� .
<br /> �. in it is sold or transferred(or if a beneficial imeres� in Onrrmcer is sold nr transferred and Dorrower is no�a '>;'.':'`;�''
<br /> . Y7.1,r" .,
<br /> -"[; namral person)x•ithout Lender's prior�vriuen consen6 Lender may,at iu option,rcquire immediute payment in
<br /> � '' �� � (ull of all sums secured by�his Secuti�y Instrumam. Hmnrer.�his option shall no� be exercised by Lender if
<br /> . excrcise is prohibi�ed by fedeml lav as of�hc date of ihis Security Insirument.
<br /> - ' If Lender exercises�his option. Lender shall gfee Dorrmrer nmice o(acctieration. 7'he no�ice shall provide - �
<br />- a period o(not less than 30 daps(rom�he Ja�c�he notice is delivered nr mailed wi�hin which Dorro�eer must pay `�-�-�:-
<br /> "- ell sums secured by�his Sccuriq•Instrunum. If Rorra�rer faiis to pay�hece sums prior lo Ihe expira�ion of this
<br /> .�"�+ period,Lcndcr may invokc any rtmcdics pcnniucd by ihis Securiq•Imtrummt without Ponhcr notice or demand "" - -
<br /> "' ' on Dorro��cr. -
<br />_�.��"� � ����` ? DY SIONING RCLOW.6orwo•er accepts and agrecs to�he terms and co��enanls conlained in this Adjustable � ��
<br /> �- r,- '. RateRider. - o-'
<br /> vY! ' i
<br /> ' « . .(Sca4 C-� ..... ..... "��'�"'/f�C� '_isau
<br /> �y v .
<br /> i ........................ . .............. .. .. .
<br /> � _}�rs, -.i Ootronm 17otrovet
<br /> �(�h�7��� HARRISON C AY HCHAUaHSON ;Y���.
<br /> a a
<br /> r ��h��:�-� . (Seal) (Scall � t7;� .•:
<br /> � {`Il { ) •�..����........���.�..... .................. ........................�...................
<br /> �+' Oortox<r 6orro+n �¢��'.'.(� n�-
<br /> s5 �(y j�� .; r,.
<br /> a��7,`J�V 1
<br /> �NS1(� ..i 1 Farm81fE1/89fp1rPo/)Mtm y;Y.:� .
<br /> -�� ��.4 ; ,
<br /> �;.Fr>o..
<br />„�.Eus. .��_q.: 1 .) • d' _
<br />°�f;_: . • �•.�
<br /> _
<br /> r�:_,_..�- . ._
<br /> '"_'_'�-..:.
<br /> y. ...
<br />
|