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200504755
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200504755
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Last modified
10/17/2011 6:48:00 AM
Creation date
10/28/2005 10:50:21 AM
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DEEDS
Inst Number
200504755
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c• <br />200504'755 <br />BALLOON PAYMENT RIDER <br />TO SECURITY INSTRUMENT <br />(30 -Year Amortization - Unpaid Balance Due in Full in 15 Years) <br />Loan Number: 500672787 <br />THIS RIDER TO MORTGAGE /DEED OR SECURITY INSTRUMENT, is made this <br />25TH day of MAY, 2005 and is incorporated into and shall be deemed <br />to amend and supplement the Security Instrument made by the undersigned <br />(the "Borrower ") payable to the order of (the "Lender ") and dated as of the same date <br />as this Rider (the "Note "). I understand that the Lender may transfer the Note, the <br />related mortgage, deed oftrust, or other security instrument, and this Rider. The Lender <br />or anyone who takes the Note, the Security Instrument, and this Rider by transfer and <br />who is entitled to receive payments under the Note is included in the term <br />"Lender ". <br />BALLOON PAYMENT NOTE: This loan is payable in full at the "Maturity Date" stated <br />in the Mortgage /Deed of Trust. You must repay the entire principal balance of the loan <br />and unpaid interest then due. The Lender is under NO obligation to refinance the loan <br />atthe time. You will, therefore, be required to make payment out of other assets that you <br />may own, or you will have to find a lender, which may be the lender you have a loan with, <br />willing to lend you the money. If you refinance this loan at maturity, you may have to pay <br />some or all of the closing costs normally associated with a new loan even if you obtain <br />refinancing from the same Lender. <br />THIS LOAN HAS A BALLOON FEATURE, MEANING THAT THE MATURITY DATE <br />OCCURS AT THE 180TH MONTHLY PAYMENT DUE DATE. THEREFORE, IT IS <br />ANTICIPATED THATASUBSTANTIAL UNPAID PRINCIPAL BALANCE WILL REMAIN <br />WHICH YOU MUST PAY IN FULL AT THAT TIME. <br />ballpyrd Rev 2/02 <br />Online Documents, Inc. <br />Page 1 of 2 <br />Initials: �, <br />3388'T DU 0311' <br />05 -23 -2005 15:48 <br />
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