200210888 - Laserfiche WebLink

Browse

Fixed Rate Loan Modification Agreement 200210888 .r.....:....es. 2. The Borrower acknowledges that the Lender has incurred, paid or otherwise advanced taxes, insurance premiums and other expenses necessary to protect or enforce its interest in the Note and the Security Instrument, and that such costs and expenses, together with unpaid accrued interest, in the total amount of $(12.45 have been added to the indebtedness under the terms of the Note and Security Instrument, and that as of June 1,2001, the amount, including the amounts which have been added to the indebtedness, payable under the Note and Security Instrument (the "Unpaid Principal Balance ") is U.S. $21,084.26. - 3. The Borrower promises to pay the Unpaid Principal Balance, plus interest, to the order of the Lender. Interest will be charged on the unpaid principal balance at the yearly rate of 9.000 %, beginning May 1001, The Borrower promises to make monthly payments of principal and interest of U.S. $307.20 (not including escrow deposit), beginning on June 1,2001 and continuing thereafter on the same day of each succeeding month until principal and interest are paid in full. If on April 1,2013 (the "Modified Maturity Date "), the Borrower still owes amounts under the Note and the Security Instrument, as amended by this Modification, the Borrower will pay these amounts in full on the Modified Maturity Date. The Borrower will make such payments at Wells Fargo Home Mortgage or at such other place as the Lender may require. 4. If the Borrower is in default, the Lender may, by providing a written notice to the Borrower, notify the Borrower that the Borrower is in default and that the interest which shall be charged on the Unpaid Principal Balance may be increased to a yearly rate of 9.000% beginning on an effective date stated in the notice which is at least 30 days after the date on which the notice is delivered or mailed to the Borrower_ Unless the entire indebtedness is accelerated, as specified in the Note, the Borrower shall pay such increased monthly payments of principal and interest, as adjusted for the increased rate of interest, as specified by the Lender. 'flie Borrower acknowledges that this would constitute an 5. Except as otherwise modified herein, the Borrower will comply with all other covenants, agreements, and requirements of the Note and the Security Instrument, including without limitation, the Borrower's covenants and agreements to make all payments of taxes, insurance premiums, assessments, escrow items, impounds, and all other payments that the Borrower is obligated to make under the Security Instrument 6. Nothing in this Modification shall be understood or construed to be a satisfaction or release in whole or in part of the Note and Security Instrument, Except as otherwise specifically provided in this Modification, the Note and Security Instrument will remain unchanged and in fill] effect, and the Borrower and Lender will be bound by, mid comply with, all of the terms and provisions thereof, as amended by this Modification. 7. If one or more riders are executed by the Borrower and recorded together with this Modification, the covenants and agreements of each such rider shall be incorporated into and shall amend and supplement the covenants and agreements of this Modification as if the nder(s) were a part of this Modification [Check box ifopplicable.] nn 1 -4 Family Rider - Assignment of Rents alraar.oar Page 2 of 3 Fnnn R—iad FeM1nimv 25, 1998