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<br /> '��. k _ ���4 µ. �' � ♦i .. � � t. �` �L`([f� i ' " :E4� �`�: - $�_�i3�yC3.
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<br /> -_'.t_RF`��l`�� . . _ . - . . . . _ �_S_.�'.-..��__ _
<br /> �+'4� +� �' , � . � � . PP�4r'�4 —
<br /> _�.. . � �,��.��3 ��� -�-
<br /> .l« �r`r�; � . � . . g�� � � ���� �_-_
<br />�f: i�- �4 ' ' ` • • - ��9�i`.�-_..�..
<br /> . £.S:it-�'�`S. , t . _ . —
<br /> :; �.-�.�� ." • �. FIXED iN'i'�ST RA'i'E Utr''�'iO�i . ; . . . �A— --
<br />.��,,.;�; �';_ ,�„ . ' The Note provides for the Qorroc�•es's opttop to convcrc fron�ar�aciJisstnt�l�•iuicrr�t catc��ritl�dat�rest ��� _ --_
<br /> ' R j.` �: �rate limits ta a€ixEd intcrsst rats.Q9�QZI4iV4: ���°' -----.
<br /> ��._ti..::�..... . . � . . ' ' . _—�—
<br />-''r���=; .t-'� , 5. �lXED I�A�T [tA't'E CONdCRSIOPI tDPT[ON , . _
<br /> _-, �... . ,
<br /> �, � = (Al OpHon to Cot�vet� to�I�ed[tsite - _
<br /> ti°F,� `t��� ' — 1 have a�onversiottOption shat 1 canexcrcisc unt�ss t nm in.dcfouU ur thi�.y�L�inr�sf�ledili�ictit�_Kt►►it , �;-:�-
<br /> . �,,�=.;�
<br /> `� , me to da so.Thr"Conver�ion nption"is cr►y optlon to convcrt�4�c i�ttcrc�t r��tc i ntn rc�uire�f tu.��t►�Ihi4
<br /> �� � �• . Note fram an adjustabde tute with ieterest rate limits to the fixed tnie c�lcu�ated u�eit�r ticcifeifa 9�t�1 l►eW��. ������°
<br /> rT. . . 'T�e cohversion ean on{y take place on a datets)sprci�c�d by Ilte Nuie itotdrt ifiiiPip�1 titt;(�i�tt b�itsnin� � � _ -_
<br /> ' an the first Ckange Date nnd ending on she fifth•Change E�ate.�:aci�d:11e ati�►lii�li my�c�dJu��r►hI�Uiicrc�t �_��� � _
<br /> • _=2 "�.•=•� raae.can sonvert to the ne�v Gxed�atc is c�iled the"Con�crotou Ua�c." ' _,__—
<br /> °'`-�:`�`� �-�- . , if 1 want ta exercise the Converston Option, t must C�rst mr�t ce�tn[n condi�f�►tt�.7 h�►�e cundiy ia►ng arc, .� ,
<br />�'�,_:_x".r:2 5_= — � , ' ` 4 �i u Yn n l�jjusl�U11�L_' .---
<br /> �.• '_':._,? � ihat:(�i must g�ve t6e Natc Holder notice that i �vant ta do so;f��)nn�nc��r._:r;.e.,s l�;:_ - - ____ - -
<br /> - � � zl in default under th�Nutc or the 5ccurity Instrumenr,(iii)Gy o da�c s�cctfic►i by�hc t�mE I I�ddce,I rnu�`t���sy , --
<br /> . `.v.l:t':;�rr '
<br /> ��-:�.:�,��. •E• :nnd(iv!t nm4t�1,���qiict E:tvic etse Ni►tr , ---
<br /> _ ..;,��._. the�Iete Holder a conversion fee of U.S.S ?54.00
<br /> • �.' Hntder any documents�he�Note Waldcr rcquires ta ef'fect the canverslon. , • 4-.----- -
<br /> _�.;:, � --
<br /> ''" ��� :l `, (B) Caicatatton of Fixed Rnte ' ----
<br /> ' `V�'•.`_�'� My new� fxed interest raze wiU tre equai to che Federal National l�longagc ASguciuti�i�'s r�q�aired�tct -••-
<br /> }`��' '?��� �� yield as of a date and time of day specified by the Nate Holder for li) iP thc uri�inni term�►f thi� N��te ly _�
<br /> , , :-.,.; .�� .' _
<br /> •:�:�,�a___
<br />-,-:::�,-.rY�_ greater chan 15 ye�ts: 3t1-year fixed sate mort�¢ages cov,red bY aDpl'u�ble (i�•d�lt ���N�I�tar�.Qe1N�cry _-- -�_--`-,-
<br /> •���.,':';;` �'� commitments,ptus five-eishths of onc perce�tage paint(Q.6�S°'�a1.rounded cn ihe nc�rest ano•�Ighth af one
<br />_ ;�.�.� :r� �, 13-ycat fiYCd ratc nzoet��tg , --
<br /> • p�rcentage yoint(0.125 -o�.or 1ii)if the originai t�tm of this Notc is I S years ar irss. '� �w
<br /> . .'�_,r.f°�,.'�. � covered by appiicabte 60-day mandutory delivery.commitments. plus fivc�ciphth9 e�i�nc (�cr�enui�c polnt -_-
<br /> . (0.625�0),rounded to thenearest one�eighth of ane percentagc point IdJ25°.o►.If thi�requfrcd nC1 yfcld caancTt , . a:�____ _
<br /> � � ���`�u���� be determined 6ecause the upplicablc COmmitments are not nvuilablr.thc Nutc Nutc#cr ticill detcrmine rroy fntetcst �
<br /> : y,t r, , . �"�
<br /> • -'�� �� rate by using compatable information.My ne�v rate calsulaced undcr this 5cclfun 3(Il)�vtl!nat hc grratcr th�tt -_ _._ _
<br /> . .;
<br /> °'-" ��� the Maximum Rate stated in Sect(on 4(D)abmve.
<br /> ,. . .---- -•- -. •- � ----- _---- � � -
<br /> � sr �. • . - - (C� New Payment Amount and E�fccttve Dpte —_- -- ---- _ _. �
<br /> , ^, ;•?�f ti ,, , 1f I choose to eRercise t6e Conversion Option,the l�tott Holdcr will determine the amouut uY dtc uw��thlY z �.�°�-�'`
<br />��.��`°��� � payment that would be suff7cient to repay the unpaid priacipal I am expecced to a�rc an thc Conticrsion Uate '"`
<br /> .,.�r;^1f �'k`' ' i�
<br /> ��:'�!F>i��j'� � in full on the Maturiry Date at my new rixed intcrest rate in substantially cqual paymctus.'fhe resut�ui�his _
<br />':;�... ,J:•c� _
<br />::;;;,<. . catCUlation will6e the new amount of my monthly payment.Be�inning with my�rst monthly rayrncnt aftcr .�. .
<br />::`.;;.; . �`.,.��,f.��, the Conversion Date. l wiil pay the ne�v amount us my mon[hly payment until ehe Maturity Uate. � . * ,�.
<br /> 4�',,,� ' �x : C. TRAI�ISF�R OF THE PIiOP�RTV OR A BENEF[CAAY,i!Y'1'EREST IN f30RROWElt ;,.�._.^
<br /> .+,,, r.,`;�;,,,:: ;�' 1. Untii Botto«•er exercises the Converslon Option under the conditions stated in Scction H c�F lhis • � •::y-t��
<br /> ��''� ���" Adjustable Rate Rider.llniform Covenane 17 of the Securiry[nstrument is amendcd to rcad as follo�va: `i
<br /> ,: �
<br />- . �,. '-. Tmasfer of the PropertY or p BeneQcinl laterest in Bor�ower.ff a'9 cc any part af thc Property ur nny ��
<br /> `��' �: ,� interest in it is sold or transferred(or if a bene�cial interest in Borro�ver �, �old ar cransferred and liorrm�cr �
<br /> ';'i;:...,.�. �';:=�
<br /> ;!���,tri�, ' • is nat a natural person)without Lertder's prior written consent.Lender r�-n,at its option.requirc imniediatc � �,:. �.�.,•�
<br /> •�a��`���y x:�-�"' � payment in fu11 of all sums secured by this Security Instrument. Howe�rr. ehis opti�n shal!not 6c cxcniecd .. _
<br /> .�..p;.�i^I�'s�.r.;-'.:.:�.. ,�t.'�.,� `
<br /> � �''•� by Lender if excrcise is rohibited by federal law as of the date of this Security Instrument.Lender cilso+hall , ..
<br /> J�`u��;�•- � not exerc�sc this option if: (a) Borrower causes to be Submittcd to Lcnder infocmation requircd by l.cnQcr �� -
<br />...-JR�Y! I' '��..!'•�e � f
<br />._,_�{'r�J '
<br />�.�-�. �•.• to evaluatethe intended transferce as if a�ne�v loan were being made eo thc transferce;and(h)I.cnder reasnnably -�� i�
<br /> •,�•� .
<br />.:'.;r h';f�'`,,;s;. determines that Lender's security tivill noe be impaired by the loan assumption and ihat�he rivk nf�brcaci� •T-�
<br /> •��`''����s;?�:. ; of any covenant or asreement in t6is Seeurity Instrument is acceptable to tender. .• .�`�. ..
<br /> :..i.rY>..,,.. 1 ..... .
<br /> �'i.�.:'_,'` : To�he extent permttted by applicable law.Lcnder may charge a rcasonable fee ati�c�nditi�n t�l.cudcr'+ ;
<br />_ ��',�;;�,: ,, consent to the loan assumption.Lender also may rcquite the transferee to sign an assumption abrccmcnt Il��+t : . .
<br />`J�-•�.'�,r;;,..•;,. � . is acceptable to Lender and th�t obligatcs the transferec to kecp ail thc promiscs and agrcemcnts madc in iNc
<br /> - . ��' rU��, .•
<br />`.�-,`�'��a��r••.�••� Note and in this Security lostrument.Borro�vcr will continue to be ob1igated under the Not�and�hi�ticcuri�y
<br />,"'t',�;;�":.;r'j` :,.'.., � . • :
<br /> � F �+�..•. . Instrument unless Lender releases 8orrower in�vriting. � •
<br /> '•�;:�ej;>t•;,s,r},�.,;
<br /> '������'"`*°��'��` � If Lender exercises the option co require immediate paymcnt in futi.l.endcr�,hall givc Ilc�ru�wcr ��uticc
<br />.�ilyc; '�:3iii'�i�. .
<br />�_.�s t:��>e�::.-('. � . ..
<br /> ���:'��?,r,;�.a �.. .� oi acceleration.The notice shaU provictc a period ot not less than 30 days fram thc date Ihe nuticc iti dclivcrcJ . .
<br />`��;°`�`'`�`�'��'� � or mailed within which Borrowcr must pay all sums secured by this Security Instrument. IP Nnrnm•cr tciilr • .
<br />.,_._{�74•�.4�: �� .
<br /> l.. ../:�'' -' ' �� .
<br /> :+:�;�:�`��i`.�-���> ��{': to pay these sums prior to Ihc cxpiration of this period. Lencler may invokc any rcmedics ncrmittcd by�liia
<br />`"��j�i7 �`a'';�•'�' Securiry instrument withont funher notice or demand on Borro�ti•er.
<br />�.,;.ra.;Mi�it,��;�:.'r,'. �- .
<br />_..,"•.t����?Y;���},7!. F_ 2. lf Bonower exercises the Conversion Option unsier the condilions stated in 5ectiun H oP Ih14 A(IJUSt�I)IC � , ;.
<br /> :,;�:y y��::;,r,r��. '. Rate ftider,the amendment ro Uniform Cavenant 11 of the 5eeurity instrume�u contained in Section C 1 .�bnve 1
<br />_.,.,,1, .,ti..:,,t, ,, . shall then cease to be in effeet.and ihe provisions of Uniform Covenaat 17 af the 5ecurity Insirumen�Sh�U �
<br /> ` •i;;4�1'.�.a�•.�.
<br />�:n';4;;;: �:- �: -.�. �� instead be in effect,as follows: i
<br />.._�:`i:�,:_•a' .� . , � -
<br />-`*,�±;��r��..,� . Transfer of tE�e Properiy ar o{3eaeticin)Intetect(a BorroNer. li all or any purt uf thc 1'ruperty nr nny
<br /> Y�A���-� � '
<br />�:(YW�S.L",a•;It:,-' " . .
<br /> ��yr1.,,.,,..,,,,.•�:� interest in it is sold or transferred(or if a imneficial imerest in 13arrotiti•cr is sold ur�ransfctrca iutd 1lerq�►tider f '
<br />���k��i�;���`�;r;��' : �" i s n o t a n a t u r a l p e r s a n)w i t h o u t L e n d e t's p t i o r w r i t t e n c o ns cnt.Lcnder ma y.at it�o plian,rc yuirc i9nrncdiatc � . ' �
<br /> •�`;• ,.:.., •
<br />�;�•'•�i,ti�`.•�.�,�,:,;�.•. `� gayment in full of all sums secured by this 5ccurity Instrument, Howevcr.�his aptiun sh;iU nnt Nr cxcrciticd �
<br /> ��:�.., ,,� .
<br /> 1:. , ,-.
<br /> 3: ''��`'���•� ' by Lender if exercise is prohibited by fcderal l.titv ns of the datc of this Sccurity Insiruarcnt. y. . .
<br /> �w. i.� ' �
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<br /> 'r..3:�':lli.�a��7.y ' � .. •
<br /> �t'-:'. � ' �r;�� - Dnpo 1of 3 farm 3110 ifU�J � . ..
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