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<br />If I wanl 10 m'~~~;ecg:~~~ion M~ I m~tOfi:1 ~~t:ertain conditio",. Tlll~e~:iti~n?a: ~~~)
<br />
<br />I must gi,e the NOle Holder noriee thai I wanllO do so; (ii) on the Con,enion Dale. I must not be in default under
<br />Ihe NOIe or the Security Instrument; (iii) by a date specified by the NOle Holder, I musI pay the Note Holder a conversion
<br />fee of U.S. $ 250.00 ; and (i,) I must sign and give the Note Holder any documents the
<br />NOlc Holder requires to effect the conversion.
<br />
<br />(Bl Calculalioo of Fixed Rale
<br />My new. fixed inlerest rale will be equal to the Federal National Mortgage Association's required net yield as
<br />of a dale and lime of day specified by the Note Holder for (i) if the original te,m of this Note is grealerlhan ] 5 years.
<br />3Q-ycar fixed rare mortgages covered by applicable 6O-dny mandatory delivcry commitments, plus live-eighths of onc
<br />percentage point (0.625 %J. rounded to the nearest one,eighth of one percentage point (0.125%). or (ii) if Ihe original
<br />lerm of Ihis NOle is ]5 years or less. IS-year fixed rale mortgages co,ered by applicable 60,day mandatory delivery
<br />commitments, plus fivc~eighths of one percentage point (0.625 % I. rounded to rhe nearest onc~eighth of one percentage
<br />point (0.125 0/0). I r this required nct yield cannol be determined bccau~c t he applicable commitments are not available.
<br />lhe NOIc Holder will determine my imcresl ralc b~' u:o-ing comparable informmion. My new nile calculated under this
<br />~<'Clion 5(11) will nol be grealer than Ihe Maximum Rale slaled in Section 4(0) above.
<br />
<br />(el N.w Pa)'m.nl Amounl and Err.cll.. Dal.
<br />If J choose to exercise the Conversion Option, rhe Note Holder will detenmnC' the amoun1 of the monthly paymCnl
<br />thai would bt sufficiem to repay the unpaid principal I am expected to owe on Ihe Conversion Date in full on the
<br />maturity dale al my new fi.ed inte,esl rale in substantially equal payment>. The result of this calculalion will be Ihe
<br />new amounl of my monthJy payment. Beginning with my first momhJy pa~'ment after the Conversion Date, J will
<br />pay the new amount 3.!. my monthly pJymenl until [he malUrity dalc.
<br />
<br />C. TRANSFER OF THE PROPERTY OR A DENEFlCIAL INTERt:ST IN BORROWER
<br />
<br />l. Until Borrower excrci!te~ rhe Cl1nver~ion Oplion undcr Iht" condilion~ stated in Section B of thi!! AdJustablt-
<br />Rale Rider. Uniform Cosenanl 17 uf the Security Instrumenl is amended 10 read as follows:
<br />
<br />'fransfer of the Propt"rI) or Ii Bcondici.llntrrr!lil In Horro"rr, It all llr any pari of Ihe Property or an~ inlerest
<br />in il i~ ~old Of transferred (or ., a hcncfll.:ml mterC\1 In UC1rrO"l"' 1:0- 'told or aansferrcd and Borrowcr 1\ Tim .1 nawral
<br />pcr"-on) without l.cndl'r', pram \H1Uen -':(ln~enl. lender ma~'" at II.. opllon. require ImmL-uiulc paymcm In rull Llf all
<br />!turn!! 'ccurcd by Ihi, Sn:urllY 11l\IfUmerll. Buy.cver. tl1I", llpllUII !lhullllol be excrci!!cd l'1~' Lcnder if cxc:rcl~c j, prohibited
<br />b)' federal lu\\ a~ of the ti.ule of IllI'. SCL'U'II~' InstrumC'1I1. l.ender ..IhLl !\hall mll c\crci!tC Ihi!t oplilln If: (al Borro\\er
<br />cause!! 10 he \uhnuttcd to I,cudct IfJfmrnalllln Il"qulfl"d h~ Il"ndcf to l"\aluall' 1hc mtended IransfcreC' 3\ If a nt'\\ loan
<br />\\erC hemg made In Iht.' trumkrc."c; and lb) l.cndl~1 rcu"unahl~ dell'r111111C''' Ihal I ender'.. M:t."Uflt~ will nol be Impaired
<br />by the loan a\!tumplltlU itl1d Itwllhc f1,l (II a hrcadl (ll" ill1) l,.H\l"Il.H11 UJ a~'c.'cmcnllll thi.. Sl"\.'UT1I~ hl\trumCIIII\ a~ccpl.ablc
<br />10 Lender.
<br />
<br />To lltc exten! permllled b~ applicable la,,'. Lender ma~ charBe a rea","able fee as a condillon III Lender's consent
<br />to the loan assumplion. Lendcr al..u ma)' requJlC' Ihe: Irandcrec 10 !tlgll an a~\umplion agrcocmcnl Inal i!t acceptable:
<br />to Lender and that obliBates lhe tramferee 10 keep alllhe promis.,. and agreemen.. made in .he NOle and in lhi. SecurilY
<br />Instrument. Borrowe, will conlinue 10 be obligaled under lhe Note and .lti. Security Instrumenl unle.. Lender releases
<br />Borrower in writing.
<br />
<br />If Lender exc:rcisl:!I che oplion (0 re:quire ,mmedialC' payment In full, lender !J,hall gl\'!: Borrower notice of
<br />acc.lcralion. The notice shdl pnmde a period uf nol Ie.. lhan 30 da~" from the dale Ihe nolIee is delivered 0' mailed
<br />wilhin which DorrowCT muM pay all 'loum!t ~ecUlC'd by thi, Securiry Im.trumenc. If Borrower fail!l to pay thC'!ae: sum!.
<br />prior to Iheexpirauon of thIS penlld. tender may invoke any ,emedles pernlllled by this Securil~' Imtrument wilhoul
<br />fun her notice or demand on Borrower.
<br />
<br />2. If Borrower exercises Ihe ConversiulI Oplion under lhe condlllom 'taled on Section II of Ihis Adjuslable Ralc
<br />Rider, lhe amendment 10 Unifo,m Covenant ]7 of Ihe Ses:unlY Instrument <mllamed on Section C I above shalllhen
<br />cea'tC' to be in effect, and Ihe pro1ii!lion!ro of Uniform ( ll\(,lUtnl J7 of IhC' S(,t:urll~ Im,Humenl ~hall inlllcad be in cffC'Cl.
<br />a. follows:
<br />
<br />Tra.rer or lb. Pro...rt) or a BendlclalInl.....1In Borro".r. If all 01 an~ part of the Property 0' any intereSI
<br />in il is sold or transferred (or If a benelioal interest in Borrower IS sold 0' translerred and Borrower is nOI a natural
<br />person) without Lende:r's prior wriucn conse:nt. lende:r mD), at 11' upllun, require immediale payment in full of all
<br />sums ~ecured by this Sccuril)' InslrumCnI. However, Ihi~ option ~hall not he excn.1\cd b)' lender if exerci!lc III prohibited
<br />by federal law as of Ihe dalC of Ihi. Secu!ity Instrument.
<br />
<br />If lender exercise!lthis uplion, l.ender ...hall gl\'C Harrower no Lice of accelcralJon. TIle notice !thaI! provide a period
<br />of nol less than 30 day~ from Ihe- dale the omice IS delivered or mailed \\'lIhll1 which Borrower muM pay all sum!.
<br />s.ecured by this SecurilY Ins1Tumenl. If Borrower faib 10 pay these: !Ioum!\ prior to Ihe expiration of thi~ period. Lender
<br />ma)' invoke any remedies permil1ed by Ihh Securily InslrumcO( withoul funhcr notice or demand on Borro\\'cr.
<br />
<br />BY SIGNING BELOW. Horrower accepts and agret:4l to the lerm\ and I.:o\cnanl\ comaincd in thi\ Adju!ilablc
<br />Rale Rider.
<br />
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<br />~ n R. Wardyn .
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<br />Denise Wardyn
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