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r r 88- 101594 ...J If I want 10 c.xcrcisc the Convcrsion Oplion, I must first meel cenain conditions, Those conditions arc that: (i) I Illllsl give the NOll' Holder notice thai I want to do so; (ii) on the Conversion Date, I must not be in default under the Note or the Security Instrument; (Hi) by a date specified by the Note Holder, IIllUSI pay the Note Holder u conversion fee of U.S. $ 250.00 ; and (iv) I lIlust sign and give the Note Holder any documents the NOll' Holder requires to effecl the conversion. (B) Calculalion or Fixed Rate My ncw. fixed interest rate will be equal to the Federal National Mortgage Association's required net yield as of a date and time of day specified by the Note Holdcl' for (i) if the original IeI'm of this Note is greater than 15 years, 3D-year fixed rute morlgages covered by applicable 60-day mandatory delivery commitments, plus five-eighths of one percentage point (0.625 %), rounded to the nearest one-eighth of one percelllage point (0.125%), or (ii) if the original term of this Note is J 5 years or less, IS-year fixed rate mongages covered by applicable 60-day mandatory delivery commitments, plus five-eighths of one percentage point (0.625 %), rounded 10 Ihe nearest one-eighth of one percentage point (0.125 %). I I' this required net yield cannot be determined because the applicable commitments arc not available, the Note Holder will determine my interest rate by using comparable information. My new rate calculated under this Section 5(8) will not be greater than the Maximum Rate stated in Scction 4(D) above. (C) New Payment Amount find Effective Date If [ choose to exercise the Conversion Option, the Note Holder will determine the amount of the monthly payment that would b'e sufficient to repay the unpaid principal I am expected to owe on the Conversion Date in full on the maturity date at my new fixed interest rate in substantially equal payments. The result of this calculation will be the new amount of my monthly payment. Beginning with my first monthly payment after the Conversion Date, [ will pay the new amount as my monthly payment until the maturity date. C. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER I. Until Borrower exercises the Conversion Option under the conditions stated in Section B of this Adjustable Rate Rider, Uniform Covenant 17 of the Security Instrument is amended to read as follows: Transfer of (he Property or a Beneficial Interest in Borrower. I I' all or any part of the Property or any interest ill it is sold or transferred (or if a beneficial interesl ill Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written conselll, Lender may, at its option, require immediate payment in full of all slims secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. Lender also shall not exercise this option if: (a) Borrower Cllllse.~ to be submilled to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made to the transferee; and (b) Lender reasonably determines that Lender's security will not be impajn~d by the loan assulllption and that the risk of a breach of any covenant or agreement in lhis Security Instrument is acccp!~ble to Lender, To the extent permitted by applicable law, Lender may charge a reasonable fee as a condition to Lender's consent to the loan assumption. Lender also .nay require the transferee to sign an assumption agreement that is acceptable to Lender and that obligates the transferee to keep all the promises and agreements made in the Note and in this Security Instrument. Borrower will continue to be obligated under the Note and this Security Instrument unless Lender releases Borrower in writing. If Lender exercises the option to require immediate payment in full, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 2. If Borrower exercises the Conversion Option under the conditions stated in Section B of this Adjustable Rate Rider. the amendment to Uniform Covenant I7 of the Security Instrument contained in Section C I above shall then cease to be in effect, and the provisions of Uniform Covenant 17 of the Security Instrument shaH instead be in effect, as follows: Transfer of the Property or a Bendldallnterest in Borrower. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may, at its option, require immediate payment in fuIl of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. If Lender exercises this option, Lender shaH give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay aH sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Adjustable Rate Rider. t2f6~ Jc#f<~Y-\ Allan Scott Helge . ~ III ife!p-Sd>-' Josep ne M. Helgeson r i ! (Seal) norrowcr (Seal) Horrowcr (Selll) IhlrHHH~' ~ (Scal) IJUIIO"'''''