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Note Date, the Servicer m( described In the Security I Servicer and I must pay any T() I must complete, sign ocuments the Servicer req beallowedto exercisetheC( and credit standards or if the rate as calculated herein Is I I also understand that I may r of the property described in 200309026 LOAN 99 03- 546919 have received an updated appraisal of the property rument prepared by an appraiser acceptable to the ated appraisal fee paid by the Servicer to a third party; d deliver to the Servicer an the Exercise Date, any 3s to effect the conversion. I understand that I may not w market interest rates then in effect for similar loans. eallowed to exercise the Conversion Option if thevalue Security Instrument has declined since the Note Date. 3. EXERCISING THE CONVERSION OPTION To obtain information as to the currently available fixed rate, I may telephone the Servicer. I understand there can be no assurance that this rate will be available at any time subsequent to the telephone call, even on the same day. The Servicer will notify me in writing if the phone number should charge. To notify the Servicer that I want to exercise the Conversion Option, I must call the Servicer on any business daXy during the Option Period, between the hours of 8900 A.N. TO 5900 P.N. CAT. The Servicer may record our telephone conversations. Once I notifythe Servicerthat I desire to exer will forward to me any documents necessary complete and sign the documents provided I Servicer together with the conversion fee, on appraisal fee described in Section 2 above, documents are received together with the cc applicable, the appraisal report and appraise Converted Rate is the rate quoted by the ervi( properly completed documents are not recely( my adjustable interest rate will not be convert( the Servicer and return them to the : review fees and, if applicable, the is date the completed and signed irsion fee, credit review fees and, if 3e is called the Exercise Date. The on the Exercise Date. If the fees and )y the Servicer on the Exercise Date, o a fixed interest rate. 4. CALCULATION OF THE CONVERTED RATE The Converted Rate will be equal to the Federal National Mortgage Association's ('FNMA ") required net yield, as of the Exercise Date, for the purchase of thirty -year, fixed -rate mortgage loans under sixty -day mandatory delivery commitments plus percentage point(s), not to exceed SIX percent (6 %), rounded up to the nearest one- eighth percent (.1255°/6), as quoted by the Note Holdder. 5. CALCULATION OF THE NEW PAYMENT AMOUNT If I have the Conversion Option and choose to exercise it the Servicer will determine the amount of the monthly payment that will be sufficient to repaCy the unpaid principal plus accrued but unpaid interest I am expected to owe on the onversion Date in full by the Maturity Date of the Note at the Converted Rate in substantially equal payments. The result of this calculation will be the new amount of my monthly principal and Interest payment. Beginning with my first monthly payment after the Conversion Date, I will pay this new amount as my monthly principal and Interest payment until the Maturity Date of the Note unless I pay the Note in full prior to its Maturity Date. 6. TRANSFER OF THE PROPERTY If I exercise the Conversion Option under the conditions stated in this Rlder Addendum, the conditions under which I may be required to make immediate payment in full of all amounts I owe under the Note because of transfer of property which are described in thesection ofthe Note captioned "Uniform Secured Note" will ceaseto be in effect. Instead such conditions will be as follows: Transfer of the Property. If all or any part of the Property or any interest in it is sold or transferred without the Note Holder's prior written consent, the Note Holder may, at its option, require immediate payment in full of all sums secured by the Security Instrument. However, this option shall not be exercised by the Note Holder if exercise is prohibited by state or federal law as of the date of the Security Instrument. Online Dooumems, Inc Page 2 of 3 P5421ADU MW 06 -23 -2003 10939