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<br /> �`�r+�"'.:"..:��'"�E ift tivant ta Cxc�risc[hc Converston Q tfan.I must first meet ccrtaincandid�ns.Those conditians nre thnt:l�)I must
<br /> — -- - ------- Sive Que Nota Holder noEice that I wnnt to do so;(ii)on theConvecsion Date.l must nat be in defnult uader th�Nat�orthe `'___
<br /> — Sec�srity Instrament;(iii)by a dat�e specified by the Note Holder.l must puy the Nate Halder n converston Fee c�f U.S,
<br /> s ,00 :and(iv)I must slgn and give the Natc Halder nny documents the Nate Hotder
<br /> requires to effect the conversion. _
<br /> - ----_--------- -t -- (Ft)Celsvletlon o!Fixed Rate -- _
<br /> b!y new.�xed interest ratc will be equal to the Fedetul Nattonal Mortgnge Associvaon's required net yteld —
<br />_:�, as of a date und t�me of day specified by the Note Holder for(i>if the orlsinnl term of this Note is�reater thun 15 __
<br />=� yents. 30-ycar f�xed rate m�rtgAges covered by applicable 6Q-day m�ndatory delivery commttments. plus Gve- i
<br /> �� eighth;s of ono percentage point(O.b23%),rouaded w the neurest one-eighth of ono percentnge point(0.125�),or
<br /> = (i1)if she original term of this I�Iatc is IS years or lcss. 15 year fixed rate mortga�es covered by upplicable 60day _ _
<br /> _-�,? mandatory detivery cnmmItn�enes,�tus five-clghths of one�ercentage point(0.62590),rounded to the nea:est �__-_
<br /> ; one-eighth of one pencentage point(0.125%). If this required net yleld cnnnot be determfned because the applt-
<br /> �'�' cable commItments ure not avajlable. the Note Holder wtll d�termine my interest rute by using comparuble
<br /> , Iaformution.MynewrittecutculutedunderthisSecdon5(B)willnotbegreaterthantheMnxImumRutast�tedinSecdon �-•_�_
<br /> �,: 4(D>above. MY INTERHS� RATE NILL �IEVER BE t3REATBR THAN 92.875 PERCENT. K��:°
<br /> - (C)New Psya�eat Amount and EQective Datc � ��`�=
<br /> �:_
<br /> If I choose to eaercise the Conversion 4ptian.the Note Hoider wlla determine thc amount af the monthly �`"-�
<br /> payment that would 6e suff�cient ro repay the unpald priacipal I am exp�ted to owe on the ConversIon Date in �„ti;'
<br /> full on the maturity date at my new fixed interest rute in substantially equal payntents. The result of this calcu- ^
<br /> ladon wUl be the new amount of my monthly paymont. Be�inning with my first monthly payrnent after the �y,
<br /> Conversion Date.T will puy the new amouat as my monthly puyment until the Muturity date. p,:r�
<br /> C.TI�ANSFEA OF THE PROPERTY OR A BENEFICIAL INTEli�ST iN BORROWER �'�:':-
<br /> .;;.:
<br /> 1. Undl Bonower exercises the Conversion Option under the conditions stated in Section B of this Adjust• 'ty;
<br /> a�le Rate Rider.Uniform Covenasu 17 of the Security[nstrument ts amended to read as�ollows: _
<br /> �-.�
<br /> °; 11r�nsfer oi t6e Property or a Beneticfal Interest ta Borrnwer.If all or any part a8 the Property or uay interest
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<br /> ___ _ _ _ . in it Is sald or tranaferred(or if a bene�ciat interest in 9orrower is sold or transferred the Borrower is not u
<br /> : . .-.-t�;
<br /> '�'� nntur�l person)without Lender's prior writeen consent. Lender may.at itc opt►on.require immedia�e paymcnt in
<br /> �. —
<br /> a�wc�
<br /> � full o�sll sums secured by this Securtty Instrument. However. thts option shall not be exercised by Lender if ��
<br /> exercise is prohibited by federul law as of the dute of this Security Instrument. Lender ulso shall not exercisr thIs �y���;
<br /> ��},'
<br /> optioia et:(a)Bonower causes to be submitted ro Lender informatnon required by Lender to evaluate the intended i�_
<br />- . ;.��
<br /> transferee as if a new loan were being made to the transferee:and(b)Lender reusonably determines thnt I.end• �'`�':`
<br /> �r� `����� er's security wi11 not be Impaired by the loan assumption and that the risk of a breach of any covenunt or
<br /> ,,,
<br /> _ agreement in this Serurity Insuument is acceptable to Lender. �'t"�
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<br /> �' • .�' 1`�a�e extend permltted by applicc�ble law,Lender muy chur�e u reasonable fee as a conditlon to Lender's �
<br /> .!-� x consent to the loan assemption. Londer also may require the trunsferee to sign un assumption ugreemem that is
<br /> , acceptable to Lender and that obligates the transferee to keep all the promises and agreements made�n the Note ,
<br /> � c rlt Inssrument.Borrower will continue to be obligated under the Note and this Security instru-
<br /> and in th�s Se u y
<br /> � ment nnless lender releases Borrower ln wrlting. ,
<br /> �f Lender exercises the option to require immedlute payment in full.Lender shall�ive Sorrower notice af
<br /> ' accelerstion.The natice shull provide a period of not less than 30 days from the date the notice is delivered or
<br /> " matled wlthin whic#►Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay
<br /> " , „•` these sums prior to the expirntion of this period. Lender may invoke any remedies permitted by this Security
<br /> "•;�yH�,�;'; Instrusnent without furthor notice or demand on Borrower.
<br /> , lc,:�?��s_. �
<br />- r��- 2. If Horrower exet�cises the Conversion Option under the condittons stated in Section B of tbis Adjustnble
<br /> �'p. t �...._. ,
<br /> ':�i"`�?":.�_ Rate Rtder.the amendment of Uniform Covenunt I7 of the Security Instrument contained in Section C 1 above
<br /> .��. •� .
<br /> „ ; '�;r!+��• shull then cease to be in effect.nnd the provistons of Uniform Covenant l7 of the Security Instrument s a
<br /> ' ';.,� insteatd be ln effect.as follo�vs:
<br /> ',�_ '[Y�susfer of the Property or n Beneficlal Interest in Borrower.If all or uny purt of the Property or any interest
<br /> {" [n it is sold or trnasferred(or if a beneficial interest in Borrower is sold or transferred nnd Borrower is nat a
<br /> �'�"' � natural person)without Lender's prior written consent. Lender may. at its option.require immediate payment in ,
<br /> _ "v full of ull sums secured by this Security Instrument. However, this option shall not be exercised by Lender if
<br /> �w�.;���',°:� exereiss is prohibtted by federal law us of the date of this Security Instrument. �
<br /> ' 1�^`ry
<br />- " a,: I�Lender exercises this option.Lender shall give Borrower not[ce of acceleratian. The notice shall provide
<br />_- � �, u period of not less thun 30 days from the date the nouce is delivered ar mailed within which Borrower must pay •
<br />-,, ,::.1.:, , •" al!sums secured by this Security Instrument.If Borrower fails to pay these sums prior to the expiration of this
<br />:.�� .:�;�°�; ;�:;;`, periud.Lender may invoke any remedies permitted by this Security Instrument without further notice or demand
<br /> '•:�:, . on Borrowcr.
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<br /> �,9 ...• .• �Borracer Burcov�er
<br /> �- .s. . THOMAS 41 DOOLEY �
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