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<br /> _� . �� �. �axm inr�sT t�rG o�ra�or� , � ' _ � - �',r�=-.,�? � r.: _.
<br /> " 'fhe Note provides�ior tke Qorra�vc�r's option to corivert from aa adjustabte interest rate wish[nterest � �` ``�5 ��',����.--
<br />=�•� .. �. .�';`i=.�
<br /> - � rate limiu to a fixed interest rate,as Yallows: � . • � „ ,,t. ::
<br /> S. �7XED IIVTEREE�P�AgE C�NY�iS�O1V tD�TtOIU :-°�•.';��_�
<br /> � ER • , ,� t ,
<br /> -4' (A) Opttoa to Canvert to EtaeB Rate ' . � ' .4`� ,- �_ .
<br /> - ' I hav�a Conversion Opuon that I can ex�rdse untess t am ia default or t.pis Section 5(A)�vill not permit " '__.��,�;�.�`
<br /> ' m�to da so.The"Conversfon Opt�on"is my nption to cnnvert the interest rate I am required to pay by this ` r �. �
<br /> :� Note from an•adjustable rate witb interest mte Gmits to the i"ixed rate calculated uuder Sectian S(B?belaw: � ��.:
<br /> � , The�onversion can only take place on a d�te(s)speci�ied by fi��Not�Ht,tB�r�uring che�reriaa ae�marg - E�, �..-��.�f�
<br /> � on the first Change Date aad eading on[he t3fth C6ange Uate.Each date on tivhic6 my adjustable interest -�'�-
<br /> �� rate can convert to the new fixed rateds called the"Conversion Date." ``���'���:�¢���
<br /> r`� _ If i want to exercise the Conversion Optlan,i must��fust meet certain conditIons.Those conditions are _ T�°:5':
<br /> Ehat:(i)I cnust give the Note Holder notice that I want to do so;(ii)on the Conversion Date,I must not tis --� ----`
<br /> z in defauh under the Nate or tke Security Instrument;(iu)by a date spec�ed by the Note Holder,t must pay ���"
<br /> -� _��
<br /> ' the Nme Holder a comersion f�e of U.S.S �0•�� - ;and(Iv)1 must sign and give the Noie ��r=•:- --°_-
<br /> e _
<br /> B--=_:---_�_-°-
<br /> Holder any documerss the Nate Hoider requires to effect the conversion. • ���:--a="�'"--=--
<br /> :��=
<br />�.-� B) E:alcalstfon aff L�5a�1 Ratr ' �t�',�-_-- -=--
<br /> �`:� : . ' My new,fuced it►terest rate will be equal to the Federai Nafianai N:orcgage Assaciatiou's reyuirect net ��
<br /> yieid as ef a date and`time of day speclffed by the Note HoJder for(� if the original term of tlus Note is
<br /> , .� greater tI� f5 years, 3Q-yeaz fix�d rate mortgages covered By applica@le 60�day mandatory delivery �"�=_-----
<br /> ' ' . � • �.�ommitments,pius fi���hths of one percentage point(0.625�'0),runnded to the nearest one-eighth of one �.��
<br /> percentage point(O.IZs`�'mZ,.or d'n�if the original ternE of this Note is I5,years or tess,l5-year futed rate martg�es ���=°-__
<br />-` �covered by applicable 60-day mandaiory delivery commitments, pius fnre-eighifls of oae percentage point �
<br /> ., -.
<br /> . (Q.625�10),rounded to the nearest one-ei�hth of one�ercentage point(0.125"/0).If this required net yietd canaot � . .-�—
<br />-�`-� .— � . . . ' ..�L .\{..�wJt� .i—� --•— — _
<br /> — :—�—_- -_�"ic'�...-`�� O°:I�.e° f' �v.�..7u�'s",u:ic.'ca�.�rw-cti3i'w'�i�fitst��.tttc a.a,c�., - e�Camta " a ' s�. - '�r�
<br /> . rate by using comparable information.My aew rate calcutated under this Secti�n 5(B)wiU not be greater than
<br /> � the Maximum Rate state�ia Section 4(D)above. • ' ��,.
<br /> (C� Neay Payment Amoant and�ffectf�e Date • •
<br /> _ If I cGt��:e to exercise the Coneerrf��a Opiion,the Note F�6�aL�-t�rill determine the amount of the�onthly �:.:_
<br />- paymen����ould be sufficient to repay the unpaid princiF�f.t.�nr.expected to owe on the Gonversion Datc `
<br /> in fuII on the Maturity�ate at�my new fixed int�u rate in saos°•antially equal paymenu.The resnlc a€t�is
<br /> _ catculatioa will be the�^.,,.�amouni of my montlily payment.Begirming with my first montlily paymeait�c
<br />- the ConversIon Date,: =��i11 pay the new amount as my monthly payment until the Maturity Date. � � � ;����; ''
<br /> , s'
<br />��.''- C. TRANSFER OF THE PROPERI'X Oit A SENEFICIAL INTERCST iN BORROWER "
<br /> 1. Undl Bonower exerciscs the Conversion Option under the conditions stated i� Section B of this ' � � . �' �
<br />- Adjustable Rate Rider: i.Tniform Covenant I�of the Security Instrument is sunended to read as follows: �;�-��•'---- --
<br /> :� Transfer of the Lnnigeriy or a Seneftctal laterest ia BoROwer. If all ar any part of the Property or any ;�:. ���
<br /> interest in it 3s�vtd or'transfened(or if a beneficial interest in Borrower is sold or transferred and Bonower ".-�''". ��%`°��-
<br /> � is not a na���peison)without Lender's prior wdtten consent,Lender may.at its oprion,require immediate , �=-��`�� `'
<br />-,:� �ti:,:." ._
<br /> = payment.i���of all sums secured by this Security Instrument.However,shis option shall not be e�cercised . .a
<br /> •,}:`-�W
<br /> by Y.ender if exercise i3.�,.ohibited b federal law ds.of the date of this Security Instrnment.Lender also s�all '��'� `�"���_
<br /> 1"' Y ' � •.t�:_��>.
<br />= 'not exercise this optie�.c;:(a)Bonower causes t��tc�submitted to Lender information required by➢.:est�7i:r '�4 ; ''"�"`"'
<br />_ '`;.:+;ti�.�1` .
<br /> ' � to evaluate the intended'transferee as if a new Ioan.were being made to the transferce;and(b)Lender reasonably �-
<br /> `•�' . . �. determines that Lender's security�vill not be impaired by[he loan assumption and that the risk of a breach • , '�'..T�;r�
<br /> ° ' • of any covenant or a�reement in this Security Instrument is aweptabie to Lender. � " '' �•`•"'```'
<br /> `.��'�
<br /> � To the extent permltted by applicabte law.Lender may charge a reasonable fee as a condition to Lender's : -,•�,�:;;° :• . '}:
<br /> . consent to the toan assumption.Lender atso rnay require the transferee to sign an assumption agreement that .:,�:;����?• :, • •��,
<br /> is acceptabte to Lender and that obligates the transferee to keen�'l the promises and agreements made in the �
<br /> � Note ar.�ir�.this Secudty]nstrument.Borrower will continue to'�:obligated under the Note and this Security . '�:=
<br /> ` ' •Instrume,:t unless Leader releases Borrower in writin�. • `� •' :� . ;�.`,�•;�`:
<br /> u� ' .• �•,;,�';: ' ,,.,
<br />- If Lender exercises the option to require imr�c-u:ate payment in full,Lender shall give Bonower=,.�atice � • , •
<br />_ :-�,,;-��;; , : • �� ;
<br /> - ' of acceteratton.'I'he notice shall provide a perIod c3ti act less than 30 days fra�the date the notice is deTi�..red ,:�'i'•F°�":i�' •
<br />'_,=�� or mailed wlthin H/hich Bonower must pay all��.�c�secured�-y this Security Instrumen�. If Horrower fails '�'''��'`t` � � ` `
<br /> .,: ;
<br /> _ to pay these sums prior to the expiration of tivs period, Len�:a rnay invoke any remedi:es�°rmitted by this , . � =f�%
<br />__f�+, ' Security Instrument without fuKher n�tice ar demand on BQrrower. . ' ' ;:.� . ' :
<br />-:.� 2. If Borrower exerases the Conversion Opiiea under the conditions stated in Section g of this Adjunable ,ti,r���,'�ri,_ :,
<br />_.� .Rate Rider,the amend,�s��t to Unifarm Covena�c P.?of the SeeuriLS�]nstrume��contained in 5eetion C 12bove �� ' '•�(,j�;;s��._ • ' �,
<br /> =� shall then cease to be in effec�aad tr:�rovis:nzs of Uniform.fr:•enant 1�of the Security�insttvment shaH °,'��"F`� �, ' '
<br /> - �.;:.
<br />_� • instead Bc.in•effect,as foliows: . ,
<br /> - ," Tr��:fi±tr�o�the�'�pperty or a Bene�cial(»tecest in�Qrd�u�r. If alf or any part of the Property or any •>'���t'tf!'r` •• � �`"•
<br />---�y interest ln i�is sold os t��nsfenerl(or if a bene�aal i�terest in Bono�ver is so2d or transferred and Borrawer ���`":;.`��;� .�� �.
<br /> ' t•`r}lt.�„r . ` '•
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