200505494 - Laserfiche WebLink

Browse

200505494 D. New Payment Amount If and when the LDPF is terminated as described above, Note Holder will advise Borrower (I) of the amount of the new monthly payment that would be sufficient to repay the unpaid principal Borrower will owe on the date the LDPF is terminated, in full by the maturity date at Borrower's Note Rate in substantially equal payments (the result of the calculation will be Borrower's "New Payment Amount ") and (2) the date on which the New Payment Amount is to commence, which shall be the next payment due date after the First Cancellation Date, the Second Cancellation Date, or the Termination Date, as applicable. E. Original Property Value For purposes of this Low Down Payment Mortgage Rider to Security Instrument, the original property value is 566,000.00. Borrower acknowledges said value is: a) with respect to purchase money loans, the lesser of the purchase price or the appraised property value; or b) with respect to refinance transactions, the appraised property value if one was required, or in the absence of an appraisal at origination, the estimated value of the property Borrower provided at the time of loan approval. BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions contained in this Low Down Payment Mortgage Rider to Security Instrument. Borrower Michael R Duncan Borrower Dorothy A. Duncan by Michael R. Duncan, her Attorney in Fact Borrower Borrower 0679017 (041405),;