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200313388 <br />LOAN #: 2333417 <br />BALLOON RIDER <br />(CONDITIONAL RIGHT TO REFINANCE) <br />THIS BALLOON RIDER is made this 22ND day of AUGUST, 2003 and is <br />incorporated into and shall be deemed to amend and supplement the Mortgage, Deed <br />of Trust, or Deed to Secure Debt (the "Security Instrument ") of the same date given by <br />the undersigned (the "Borrower ") to secure the Borrower's Note to CENTRAL <br />NATIONAL BANK, A NATIONAL BANK <br />(the "Lender ") <br />of the same date and covering the property described in the Security Instrument and <br />located at: 1110 N WALNUT STREET, Wood River, HE 68883 -9173. <br />The interest rate stated on the Note is called the "Note Rate." The date of the Note <br />is called the "Note Date." I understand the Lender may transfer the Note, the Security <br />Instrument and this Rider. The Lender or anyone who takes the Note, the Security <br />Instrument and this Rider by transfer and who is entitled to receive payments under the <br />Note is called the "Note Holder." <br />ADDITIONAL COVENANTS. In addition to the covenants and agreements in <br />the Security Instrument, Borrower and Lender further covenant and agree as <br />follows (despite anything to the contrary contained in the Security Instrument or the <br />Note): <br />1. CONDITIONAL RIGHT TO REFINANCE <br />At the maturity date of the Note and Security Instrument (the "Note Maturity Date "), <br />I will be able to obtain a new loan ( "New Loan ") with a new Maturity Date of <br />SEPTEMBER 1, 2033 (the "New Maturity Date ") and with an interest rate equal <br />to the "New Loan Rate" determined in accordance with Section 3 below if all the <br />conditions provided in Sections 2 and 5 below are met (the "Conditional Refinance <br />Option "). If those conditions are not met, I understand that the Note Holder is under no <br />obligation to refinance the Note or to modify the Note, reset the Note Rate, or extend <br />the Note Maturity Date, and that I will have to repay the Note from my own resources <br />or find a lender willing to lend me the money to repay the Note. <br />2. CONDITIONS TO OPTION <br />If I want to exercise the Conditional Refinance Option, certain conditions must be <br />met as of the Note Maturity Date. These conditions are: (a) I must still be the owner and <br />occupant of the property subject to the Security Instrument (the "Property "); (b) I must <br />be current in my monthly payments and cannot have been more than 30 days late <br />on any of the 12 scheduled monthly payments immediately preceding the Note Maturity <br />Date; (c) there are no liens, defects, or encumbrances against the Property, or <br />other adverse matters affecting title to the Property (except for taxes and special <br />Initials: ea ITS <br />MULTISTATE BALLOON RIDER (Refinance) -- Single Family -- Freddie Mac UNIFORM INSTRUMENT <br />Form 3191 1 /01 <br />© 1999 -2003 Online Documents, Inc. Page 1 of 3 F3191 RDU 0307 <br />