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<br /> 93�1(�31.� FNR2-311 e-2
<br /> If I want to axe�iaa t1��Co�,yR�sion l�pt�on.l must ilrst meet certoin conditians,Th�se condi�ions a re t h�t:li)I must
<br /> giva the N�Nold¢rnotic�e tpq��M!�t co do so;(ii)an�he Convcraion Date.l must not be in default underthc Note or the
<br /> Security Instrumept;(iiil by u�cpeci�ed by the IVot�s Holder.!must p�y the Note Holder p canversion fee of U.S.
<br /> r. s ��0 ;and(Iv) 1 must�ign and 4ive the Nde Holder any documents the Nate Holder
<br /> +::
<br /> nquircs weffect lhe.convar�ipn,,
<br /> , IB)Calcul�tlo�a ot Fixed Nwt�
<br /> My new.fixed (ntarost rato wi11;bS equal to the FederAl Natianal Mortgage Associutian's required net yield
<br /> �s of a date And Umc af day spec�fled.by the Nate Halder fa�(i)if the originul lerm c►f this Nate is greater than 13
<br /> ' `'"vr ; � years.30-year fixed rata mart�a�ts�overed by s�pplicnble 60-day mnndatory delivery cammilments,plus fjve-
<br /> �2'�»r'=n
<br /> :"r.�.����� eighths of one percentt�ge poin�l tO.bZS9G1,rounded ta the neurest one-eighth of one percentuge paint Ip•125510). or
<br /> �z �� (ii) if the original torm of this fV�to.Is,15 yeurs or kss. IS-yeAr fixcd rnte rnortgages cavered by appt icable 60•day
<br /> ���:".' mandatary deljvery commitmenic,pl�ii five-eighths of one percentage point(0.62S�r1, rounded to the nearest ,
<br /> one-eighth of one percentage poi�l,t�.�2S`Ao)•1f this required net yield cannat be determined becuuse thc Appii•
<br /> �'-`''� •� cuble commitments ara nat availv�+le,the Note Holder will determine my interest rate by using compuruble
<br /> ";_'"_" �. � `�����'` information.MynewratecAlcul�.ts�dutid.�rthisSection5(BIwillnotbegreAcerthuntheMaximumRates�atedinSection
<br /> ( 4(blabove. My INT�R��T, AATE WIL4 NHVBR BE l3RBATBR THAN 1fd.625 PBRCBNT.
<br /> , M1w . {+ � .
<br /> � ' . i:° . (C)New Paya�cat Arqpuat�tM Etfective Date .
<br /> �s�.._ - - - —
<br /> � � � . � If I choose to exercise ttre�:unversion Option,the Note Holder will determine the amuunt of Ihe moathly `�,
<br /> �u��` }., payment that wauld be suf�ciea5 to repay the unpaid principul I�m expected to owe on the Canversion Date in "�
<br /> • ' full on the maturity date at my new �xed interest rate in substantially equal pAyments.The result af this culcu-
<br /> • lation will be tht new amaunt•��f my monthly puyment. Beginning with my first monthiy payment aftor the
<br /> Conversion Date,l will pay tht n¢�a amount As my monthly pAyment until the Maturity dute.
<br /> C.TItANSF�R OF THE PRQR�bITY OR A BENEFICIAL lNTERM ST 1N BORROWEIt
<br /> .. I. Unal Barrawcr exerc+ses tht Conversion Option under thc conditions stAted in Section B of�his Adjusb
<br /> ;. able Rnte Rider.Unifnrm CovenaM.l7 of the Security Instrument is Amended to reud us follows:
<br /> � n 1YpnsPer of the Propaty ar�a.flene(icial lpterest in Borrower. If ul I or uny part of the Propert y c�r uny interest
<br /> • � in it is sold or trunsferrad lor if u beneficiul interest in Borrower i� sold or transferred the Borrower is not a
<br /> ' nuturel person)without Lender's p�ior written consent,Lender may,at its option,require immediute payment in
<br /> full of ull sums secured by this Se:urity lnstrument. However,this option+hnll not be exercised by Lender if
<br /> exercisc is prahlbiteJ by feclecat Ia�n� us of the date of thi� Security Inctrument. l.ender ul�o shall �e exercis�this �w
<br /> option if:(a)Rorrow�er causes to br submitted�o Lender information reyuired by Lender ta evaluA�e the intended
<br /> transferee as if a new loan a�cru t+eing made to the tramferec: nnd (bl l.ender reasonably determine.r that Lend- a ,
<br /> i er's security will not he impairnd by the loun u+�umption und that the rixk af u breuch ot nny co��enAnt or �.,�:
<br /> � a�reement in this Sccurity Inytru�m.nt is acceptuble to Lendec '�'
<br /> * ' To the extend permiqed_t��• upplicuble law, L.ender may charge u reutionable fee u�a canditinn to Lender� , ' ''"'
<br /> consent to the loan uytium li�n. �ender ul+o ma re uirc the trunsfercr tu.i n�n us.um tion u reement that i. .'� ��•"���
<br /> �' f P Y 4 F P € �..�,.€"1'.'•:
<br /> �t •` acceptable to Lender und ihat i�taligates the trnn.terce to hcep aU the promi�eti und ugrcrmenh mnde in thc Note .•.;,•�,
<br /> ,.: • und in this Security lnstrument, Bc�rmwer will cominue ta be abli�ated undrr the Nate and this Security Instru- ,
<br /> �', mant unless lender releaseti B�rr�wcr in w•riting. •
<br /> �� ' ; If Lender excrciscs the opti�n�eo reyuir�immeJiatc puymcnt in full. LrnJer shall gi�•e Borrower notice of �
<br /> � nccelerAtion.Tlx notice �hall prnr�ide a �xriud of not Ic��than 30 da�•,from the date the notice i�:deli�•cred or ;
<br /> •+ mailed withia ►vhich Rnrrowrr trw�t pa��al l .um.�ecured h�• thi. Scrurit�• In+[rumrnt. It'Borrowrr fail, to pay 7
<br /> these sums prior to th�expirntion uf thiti �rrN��i.L�nJ�r may invokc any remedie.permittrd b} this Security
<br /> Instrument wittKwt furth�r m.►ti:�•or demanJ un B�irrawrr. ���' .
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<br /> ?. IF Borrower exrrci.rs th� Cumerxi��n Uptinn undrr th. r�mJitiun. .tateJ in Sc�tion B of th i.AdJu.wble � . .
<br /> +' Rute Rider, the umenJm�m of Unifi�rm Co��enam 17 ��I thc Srcurity In.trument cuntaineJ in Secti��n C 1 abo�e •
<br /> ��t ' '' � shUll then cease to be in es1'rrt. arc.�l�the pra�•i.ion. of Unif��rm C'i��cnam 17 �it'thr Security In►trument sh•rll F '
<br /> ,. � .
<br /> insteud be in el'fect.u,foflcYw�: E' '
<br /> 's; ' 7Yansfe�nStAe Pmperty or a Be��e�icfal lntrrest in BnrroNen If all��r an) part��I'th� Pr�ipert�.�r am� intcrc.t :
<br /> '��: •� in it is sold or tr.m�ferre.J!nr if u henrfiri:�l intrn�t in tiurrn��cr i. .�dd ��r tran�t'errcd anJ Burri�«cr i.not a :�
<br /> r ; �.: ;, , nc�turul per�on)without LenJ�r'�prior���rittcn r��n��nt,l.�nder ma�.at it���ptiun. rryuire imme�iiatr p•ryment in
<br /> �s.,a ,;.' );. • full of all sum�srcured b� this•Securitc In.trument. H����c�er. �hi�up�iun.haU n�,t he ex�rri.eJ h� Lrndrr if •
<br /> ��,.; exercise is pr�lnibitrd by IrJ�rul[aa uti of thc da�<<�f�hi.Srcurit� In+trunknt. .
<br /> . '�� If l.end�r exercitie:�thi. option. l.ender ,h�ll gi�r B��rr„wrr noti.e nf urcrlrrutiun. Thr noii.c .h:�ll pru�id�
<br /> � n period of n�t le«thun 30 daa,from the date thc nutice i.drli�c rcd or maile.l��ithin��•hi�h Burn•arr mu.� p•r�
<br /> ; � ?7'. nll sums�ecured by this Security In.�rument.lf Borrou�r fail.tu pa� �he�e .um>�rior to thr e�cpirution oi thi�
<br /> ��: " � p�.riat.Lend¢r may inr�ik��an� rem�die�permitteJ b� thi�Securit� In.trument u ilhout further na�ice ar denianJ
<br /> on Bnrrower.
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<br /> '�. LARRY J EASTYOOD
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