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. .. <br /> `� . ;. <br /> _ �:;:� _.� . , <br /> - . .... ... :.41fi.'+.i�t.::-'- <br /> \ . , l) . . i .. i. .. <br /> i ,.� ^ ,a.,�.«. „ - .... . . .-•��. �. � . .. - � �' .. ,�.� ..r.;�':'•��._ <br /> 1 l�iY[:4..... . . . , , .� •.. I' wiL��M1I(wi�.M(J.. • . � . � . . . � .I.:1��M4� .� <br />'___....., �tl K �'d+� h: L�_ L��i�y!�YiFi� � ��R '_"' <br /> � �Jti{w���� <br />._.-._._.._._-�c-n__-�.-_"__ "_- .. _. . .._. ._ . 6a�..- � <br /> -----.:a, :.+1 Sr-- --=:�r-. <br /> . - - .5 ' .. <br /> .. . - �,t��a,., �,Q��,�.�� <br /> .•_�.��`Y��.' r:H".'..: <br />�=°�:'a_"��: � D. MIXt:I) iN'11sttE57' R�1�'1'F. OP'1'1(sN �i';°-�- <br /> _ �d,�� �„��. <br /> ---�,,���X,�. Thc Notc providcs for tlu� Horravcr's �ptian tu convrrt f'roin an udiu:,�ablc intcrc�st ratc �vith intcrest <br /> ' _ .a � ratc limits to u Pixcd intcrrst ratc, us follows; �l-;.-; <br /> -*w+' -rl:a•� <br /> -- — 5. NIXGIi IN'Th:�tEtiT RA'l'h: CIINY�lt�IUN UP'p7lDi� <br /> '-- `'-=�,�� (p) Opilon to Coe�vcrt lo Fixed liatc <br />_."����; <br /> I I►ave n Converslon Option that I cnn exercisc unless 1 um in default or tt�is Secelon 5(A)�ti�ill not permit <br /> -�--_','` mc to do so.The"Canversion Option"is my optlon ro com�ert tlir.intcrest ratc 1 nm re�ulred ta pay bY thi5 <br /> ����=� Nntr from an adjustablc ratc��ith intcrest rate limits tu thc fix�d ratc cnlculiited under Section 5(R)bclo�v. <br /> a/n�z�:'?:'; The conversion can only take place on a dntc(s)specified by thr.tNute Noldcr durinF the period beBinninII <br /> . n. , <br /> `_�; on thc first Change Datc and ending on the fifth Chanac Dutc. [;uch dc�te on�vhich my ndjustablc intcrest . _ <br />�"�°�''�,, rate can convert t4 the new fixed rate is called the "C��nvcrsion Dute." <br />_-�r.+i�,�-.�"'�. ^ <br /> �•��`'''� - If I �vant to cxcrcisc the Gonvcrsion Option,I must first mcc�ccrtain conditions, Thosc can u►ons urc <br />.,�r,k:,s::.,;.°, �y — <br /> • ��+�• ., [hnt• (i) I must�ive the Note Holder notice that 1 want to do so;(ii)on the Conversion Unte, I must not e <br />=—=Y"i:�'•-x:u�:ll r• ' <br /> =s�'•�'Y�'��-°�� in default under thc Note or the Sccurity Instrument;(i.ii)by a dute s��ccificd by che Note Holder,1 must qaY <br /> -=°"°��'a 25U.00 ;and(iv)I must siFn 1nd�ive thc Notc <br /> _=�- ��-' the Note Holder a conversion fee of U.S. S <br /> -- -•-_�ewr.��;r- <br /> ,,�d�';� <br /> Holder any documents the Note Holder requires to effer.t. t1ir, conversion. <br /> ;txa.c�'. (B) Calcul�tton at Fixed Rate <br /> ��'��F'='�� My new. fixcd interest ratc�vill be equal to titc Federal N��tional Mortgagc Asso�intion's requircd net <br /> � "`: : ,�c�__ yicld as of a date and time of day specified by the Note Hul�ler for(i) if thc originnl term of this Note is <br /> , .�,n,�r••� <br />_`,;:.�;v �. 3 �_.. , �lrahle C,�-dny mandatory dclivcry <br />-_, '� �%' greater than 15 years, 3U-year fixed rate m�it�a �� �a%r�-�' �� a�'P � _ <br /> ��"� �:� commitmcnts,plus fivc-cighths of one percentaIIc point(0.6ZS"'o),roundcd to thc ne�rest onc-cighth of onc <br /> ;.:J�k�;�`.: • <br /> •"'1�f.��•, ' percentage point(0.125°10),or(ii)if the original term of this Note is l5 ycars or I:ss,15-ycar fixcd rate mortgaqcs <br /> ^�'F4}'� covered by applicable 60-day mnndatory delivcry commitments, plus fi��e-ei��hths of one percenta�e point <br />`�;, ,�,,::;t;, (0.625°70),rounded to the nearest one-eighth of one percentage goint(0.125°e).lf this required net yieW canuot <br /> ' � y be de[ermined b�.ause the applicable commitments are not avnilublr,the Not:Holder�vill determine my interest <br />.:�;,..;:•'�:,1 <br /> raee by using comparable information.My nc�v rate calculuted eender this Se:tian 5(H)will not be�eeater than <br /> - _, . the Maximum Rutc s:at«�:� Sc:tic•"• °•!�? 2hnve. <br />- _,.�'. ,;;i�f" — <br />..n r....,t%:'r'_:_;. <br /> . • .,},•�� (C) New l'ayment Amount nnd E`fective Datc <br /> � ' lf I choose to excrcise the Conversian Option,the IVet.e Holder will determjne the arnount of the mo�ithly <br /> 'r�'� �,..}. payment that would be sufficient to repay thc unpaid princlpn!i am expccted to owe on the Conversion Datc <br /> � ''t'h;��.r '' in full on thc Maturiry Datc at my ne�v fixed intcrest rare in subscantially equal payments. �e result of this <br />:;''';:r S'!;�'�"'`.'+�'�`i: calculacion will be the ncw amount of my monthly payment.Beginnina �vith my first monthly payment after <br />-�``"�'�'�`�';=�`;sti • � [hc Conversion Date, I will PaY thc ne�v amount as my mon[h[y payment until thc Maturiry Date. <br />`=;''�,�':•�'�;•i� <br />_.,r-,:, ,�-?.: <br /> C. TRANSFGR OF THE PROPERTY OR A BCNCF[CIAL SNTERFST IN BORILO�VGR <br /> -,, k.�... I. Until Borrower exercises trie Cnnvcrsion Option under the conditions stated in Section II of this <br />''�b�r�"M�""'"'�' ` Adjustable Rate Rider, Uniform Covenant 17 of the Security Instrument is amcnded to rcad as follows: <br />. ..3.,..: --'`���� <br />---�-'�"y��A�4Z� Trensfer of ti►c Property or a Beneficinl Interrst in Borrower. If all or any part of thc Property or any _ <br />�.�.%lir_..�,,��.:.i?4:.^ . <br /> interest in it is sold or transferred(or if a beneficial interest in Borro+ver is sold or transferred and Borrower <br /> ��._.F�,,.,.,,Y„�,�. • is not a natural person)without Lcnder's prior written consent, Lender may,ac ics option, require immediate - <br /> __:x-�R �� paym�nt in full of all sums secured by this Security Instrument. Ho�vever,�his opcion shall not be exercised f <br /> ` Uy Lender if exercise is prohibited by federal la�v as of the date of this Security Instrument.Lender also shall <br /> ''�...i'#�r+ ` <br />=;; �• � not exercise this option if: (a) Borrower causes to be submitted to Lendcr informution required by L.ender _� <br /> ' ' to evaluate the intended transfercc as if a new loan wcre bein�made to thc reannferce;and(b)Lendcr reasonably „,,,,, <br /> dctcrmines that Lcnder's security will not be impaired by thc loan assumption and that the risk of a breach , " <br /> ':��•• �'.�_.: <br /> ::s,,�,°-5..,''�• of any covenant or agreement in t his Securit y Instrumen[ is acceptable to Lender. :t,., <br /> To the extent permitted by applicable law.Lender m�y charge a reasonable fee as a condition to Lender's .� <br /> _.;�':L���:.;'.�, consent ta the loan assumpcion.Lendcr also mny cequire the transferee ro sian an assumption a�reemcnt thut . <br /> ....::,,,.::;,.,. <br /> �,,��i�..; is acceptable to Lender and that obli�ates the transfercc to kecp all the promises and agrcements madc in thc . :;, <br /> '' '" Note and in this Security instrument.Borrower will con�inue to be vbligated under the i�ote and this 5ecuri:y '' <br /> .y. .- ..z..r..• , . <br /> r`''t" "" ' Instrument unless Lender relcases Borrowcr in wrinng. <br /> •.... ;,�,•-•-•° ment in full, Lender sh111 givc Borro�vcr noticc <br />_ _ � If Lcndcr excrcises the option to requirc immcdiAtc pay <br /> of acceleration.The noticc shull provide a period of not Iess than 30 days from the date the noticc is delivered <br /> • � �' `�'�` or mailed within which Borro�ver must pay all sums secured by this Security [nstn�ment. If Borro���r fails <br /> - �% to pay these sums prior to the eKpiration of this period, Lender may invokr Any remedies permitteci by [his <br /> ` � � �' � �� Securiry lnstrumcnt �vithout tur�hcr notice or demund on Borro���er. <br />- . ' si.'.'i.�..: <br />..�-'J:°`�:;.:.�;:•._,:� 2. If Borrower exercises the Conversion Option under the conditions stated in Section R of this Adjustable <br />-� -= ��'`� �' Rate Rider.the amencl�rnent to Uniform Covenant 17 of the Security Lnsr.rument contained in 5ection C 1 above <br /> . .�,.. <br />'�'�t`-n•� ., ''��. shall then ccase to L':i�►effect,and the provisions of Uniform Covcnanc 17 of the 5ecuriry Ins�rinneibt shall <br /> • ����''rr� � instead be in effect, as follo�vs: <br /> -- _..e:_t..� t..�...o.,�In {inrrnur4�. IP ��� OC attY paft of thc Property or c�ny I <br /> -.'._V:'��,�f� ' Trnnsicr oi tne rroperiy o�d o°c��c...... •.••�•-..•••- ----- -- - , -_ <br /> :�-:.��.�.._ �� _� interest in it is sold or transferred(otiif a beneficial intcrest in Rorrower is sold or transfcrred and Borro�ti�cr i <br />--_:W:1::�-�i�''�F is not a natural person)�vithout Lender's prior�v�i[teu cunsrnt,Lendcr ma}�, at i:s ep!ior..��r�nirc immediatc <br />.•SF' <br /> .;�,.•_"�;,;,,.E payment in full of all sums secured by tl»s Security lnstrument. However,this option sliall not bc rxercised � „ <br />- :�;;:,;��,_ by Lender iF exercise is prohibited b�• federal law as of the date of chis Sccurity Instrument. I <br /> 7:.1'f'- -���__ - . <br /> '�^ � . <br /> ��r, . ., Nuyc 2 0�3 Form 3110 1/fl9 <br /> a�. � � <br /> '_ . ;� <br /> -�r�:_..�����?l,- , <br />_ ,,�-� +, � <br /> �.�: K�'�. . <br /> - , � <br /> "i ., ., <br /> � ... .......-----•.t ,. ......_..... . � <br /> - - <br /> ,. _ ...,..� <br /> ._ _._. ..._ , _. . _ <br /> , ..._..... . _._ - -- - — _ <br />