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<br /> i'� � �� 1565243 BALLOCIIV 1tIDER • HALR-3180
<br />-` � (CONDlTIONAI.RI(iNT TO REFINANCE)
<br /> '� THIS BALLOON R1DBR !s ttutdo this 25 day of MARCH , 19 1994 end is
<br /> , lnsorporAted tnto and ehall be deemed to amend end supplement the Mortgago.Dced of Trust or Deed to Secure Debt(the'`3ecudty
<br /> �' Insuument")of ehe same date Slven by the undvrsigned (the "Honower")to secua the Borrower's Note to
<br /> �j~ NOANEST MORTt3At]E. INC. (ths'•i.ender") `-- '_
<br />'' ' . r�;: , of the seme date and covedng the pwperty described in the Securlty Instrument and located at:
<br /> ..�.,;, .,;�; �
<br /> °� '�'�''�•�T��• � 2311 VxKINa COURT tiRANO ISLANA , NE 68803 �-
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<br /> T2:.-�'.;•� -.� K.�'a f PfOpC[Iy R.��CSS] �^:-
<br /> '�' "`'�� � `` � The taterest rete stated on the Note ia called the ••Note Rate."The date of the Note is calted the"Note Date."I underetand
<br /> , �' ° the I.ender may transfer the Note,Secudry Insuument and thia Rider.The I.ender or anyone who takes the Note.the Security Instrument �r�=
<br /> � }•• " and this Rider by aansfer and who ia endtled to recetve payments uncier the Note h called the `•Note Holder." `=�`�
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<br /> �',.. ADpITI0NA1.COVENANT�.In addidan to the covenants and agreements in the Securiry Inatcument,Bonower and L.ender ��� : .
<br /> � ' further covenent and Agree as follows(despite anything to the contrary contained in the Secudry Instrument ar the Note): '�`�'i�.
<br /> � � 1. CONDTiTONAL RIGHT TO REFIIVANCE �'� .*'
<br /> ; At the maturiry date of the Note and Security Instrument (the '•MaturIry Date"), wf 1 be able to obtatn a new loan C`New
<br /> �Loan")wIth a new Maturiry Date of APRIL 1 ST 2024 .and with an interest rate equal to the
<br /> � New Note Rate"determined in accordance with Section 3 below if all the condittons ided In Sectlons 2 and S below are met •
<br /> (the•'Canditional Refinancing Option").If those conditions are not met,I understand t the Note Holder is under no obligatlon '
<br /> "' to refinance or modlfy the Note,or to extend the Maturity Date,and that I will Irave to repay the Note from my own resources or
<br /> � find a lender wiUin� w lend me the maney to repay the Note. -�
<br /> �
<br /> 2. CONDITIONS TO OPTION
<br /> If I want to ezercise the Conditional Refinancing Option at matur�ty,certain condltions must be met as of the Maturity Date. _
<br /> .,..;:.
<br /> _ . _.__.___,_.. _.. .'" . .••. .• r -- .... _. -e.1....�.....-..�..�..45...��..�6.. nnn�ih.1�elr�vnn�t(t{�P��Pmnt±rtv"�• �.•••,'
<br /> - . ��.---_---:--...- �nese conamons nrG: ll/ 1 II14,1 M1u w tu�w�m.a unu�n�wNuw u. w.�.wp...y..�.�....,....�S__....y ... ... , , . - °
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<br /> (2)I must be curnnt in rny.manthly payments und cannot have bcen more than 30 days late on any of the 12 scheduled monthiy ,,�
<br /> �:�_��.
<br /> . � payments immedietely preceding the Maturity Date;(3)any liens(except for texes a�special assessments not yet due and payable) �_�_
<br /> against thc Properry. other than the lien I grant Lender in my original Security Instrument. must be subordinated to Lender's new ���
<br /> first lien to be filedby I.ender to refinencc my loan at Maturiry.lf for any reason Lendcr would not have a first lien upon the Property [�t`�='
<br /> upon loan refinancing,I understand that I.ender will not refinance my loan;(4)the New Note Rate cannot be more than S percentage �`,:.;=
<br /> points abave the Note Ratc;and(5)I must mekc a written request ro the Notc Holder as providcd in Section 5 below. ��.;"
<br /> .�.
<br /> ' 3. CALCULATING THE NEW NOTE ItATE
<br /> The New Note Ratc will be a tixed rate of intcrcst equal to thc Federat National Mortgage Association's required net yicld for _
<br /> � 30-year fixed rate rrsortgages,ubject to a 60•day mundatory delivcry commitment, plus one•half of one percentage point(O.S�'o). +
<br /> rounded to thc ne+rest onc•ci�hth of one percentage point(0.125��)(thc "New N�xe Rate"). The required net yield shall be the
<br /> appltcable net yield in effect on the date and time of day that the Note Halder receive�notice of my election to exercise the Conditional
<br /> Refinancing Optioa. If this required nct yield is not uvuiluble,thc Notc Holdcr will detcrmine[hc New Note Ratc by using compatable
<br /> • 9nformation.
<br /> 4. CALCULATING THE NEW PAYMENT AMOUNT
<br /> Provided the New Nate Rnte us calculateJ in Section 3 utwve is nc�t greater than S percen�uge points utwve ihe Note Rate and
<br /> u11 other conditions required in Section 2 utxwc are satisficd, thc Notc Holdcr w�l!detcrminc ttic amount af thc monthly payment
<br /> that will be sufficient to repay in full (a)the unpaid prinripul.plux(b)accrued but unpaid interest, plu� (c)ap other sums I wiq
<br /> . owe under the Nme and Security Imtrument an thc Maturity Date(assuming my rnonthly puyments then are current,as required `�
<br /> under Section 2 abovel,over the term nf the New Ni�te ut the New Nnt�Rute in cyunl monthly paymentti.The result of this calculation
<br /> will be the amount of my new principal und intcrest paymcnt cvery month until thc Nrw rote ix fully puid.
<br /> 5. EXERCISING THE CONDITIONAI. REFINANCING OPTION
<br /> Thc Notc Holdcr will notify mc at icast 60 calendur day�in advuncu��f thc Maturiiy Da�c and ad��i.c mc of thc prinripal,ucrrucJ �
<br /> •� but unpaid intcresl,and ctll othcr xum+ I am cxpcctcd to owc on thc Muturity nutc. Thc Notc Holdcr aiso will sdvisc mc that I muy '
<br /> � cxercise the Conditional Rcfinancing Option if thc conditions in Scrtiun:utxwc:tr�ukt.Thr Notc Holdcr will providc my puymcnt
<br /> record information, tngethcr with thc numc,title anJ aJdre..uf thr prr.un repre.rnun�thc M1otc Hulder thut I must notify in urder
<br /> to exercise the Cunditional Retinanring Optian,If I mrct thr«mJitiun.of Scrti�m 2 ut��vc.I may�cxerrisc thr Conditionul RefinsnrinF
<br /> Optiun by nutifying thc Note Halder no latcr thun 45 catenclar day�pri��r ta thr M.nurity Dute. Thc Notc Holdcr will culculatc the
<br /> , fixed New Note Rate based upon the Fcdcrul Nati�mal Man�ugc Ati+�kiutiun'.c+p�+lKnblc puhli.hcd reyuired nct yi�ld in cffert on
<br /> the date and time of day notifirati�m is received by the Nutc Holder and a,ralruluteci in Seciian 3 alx�vc.l will then huve 30 calenSar
<br /> duys to pravidc thc Notc Holdcr with acccptuhlc pnwf of my rcyuircd utinrr.hip. �kcupanr� i�nJ pr��perty lirn�tatu�. Brfi�rc thc
<br /> Maturity Datc ttu Notc Holdcr wiU advi,c mc of thc nc��•intrrcat rate Ithc Ncw N�KC Ratc),ncw monthly paymcnt amuunt und u
<br />___.. ,'_.___ .. ._.. . date,time and ptace ut whirh I mu+t appcur t���ign any d�xument�rcyuircd to cuinplrtr ih�rryuircd refinanring. I uixlcr.tand the
<br /> _ _--- _ . .
<br /> ! � Note Holder will chargc mc an origin:�tinn fcc uf I.(N17 ur �500, �vhirhevcr iti I�s+.
<br /> L'a.�iiCi*:i:�:.r.u�i.Qer� IIorr:r,ccr ar..:;.•.. :�^., _�._._. �.• �6., r.•n�����n�l r��vCt�:�n�. rnnf•�itlP�1 in thi� {ja1L���n Ri�1rr
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<br /> • , MULTISTATE BALl00N AIDER-S�nqle Fam�y-Fannle Mae Unllorm�n6trument .A�.
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