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If 1 WOl11to L'\l:n.:iM: Ihc COT\\l:nioll Option. I mU!l1 fir~l mcct l.'~r1ail1 L'(1nditlllll~. nHlw l'U1uhtlllm lII'L' Ihlll: (il Imu!'ll g.ivc Ihe Note Holder notice thut I want to do !'IO; (ii) on the COIl\'er!lion Dutc. Imu...t lIul hL' ill defllult under th.: Notl: or the SC\:uri1y Instrument; (iii) hy n date specified by the Nole HoldeT, I mUM pay thc Note Hulder II conversillll fC'c of U.S. $ 250.00 ; and (iv) I must sign and !!he the Note Holder any dm:umcnt... thc Note Holder requires 10 effect the convcrsion. (Bl C.lcul.don or Filed R.le r.,'ly new, fixed interest rate will be equal to the Federal National Mortgage Associalion's required net yield as of a dale and time of day specified by the Note Holder for (i) ir the original term of this Note is greater than 15 years, 30.year fixed rate mortgages covered by applicable 60-day mandatory delivery commitments, plus five-eighths of one percentage point (0.625%), rounded to the nearcst one.eighth of one percentage poim (0.125%), or (ii) if the original term of this Note is 15 years or less, 15.year fixed r3te mortgages covered by applicable 6Q.day mandatory delivery commitments, plus five.eighths of one percentage point (0.625%). rounded to the nearest onc.cighth of one percentage point (0.125 0/0). I f this required n~{ yield cannot be determined bCl."ause the applicable commitments arc not available, the Note Holder ,\'i11 determine m~' intcresl rate by u~ing comparable information. l\ly new rate calculated under this Section 5(B) ,,,,'ill not be greater lhall the Muximum Rate stated in Section 4(0) above. (el New Payment Amounl and Effective Date If I choose to exercise the Conversion Option. the Note Holder will determine the amount of the monthly payment that would be surficient to repay the unpaid principal I am expected 10 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 monlhly payment .after the Conversion Date. I will pay the new amount as my monthly payment until the maturity date. C. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER l. 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 Ihe Pro pert)' or a Beneficiallnlerest in IJorrower. If all or any part of lhe ProperlY or any interest in it is said or transferred (or it" a heneficial intcre~t in Borrower is sold or transfcrred and Borrower is not a natural person) without Lender's prior wrillen conscT11, Lender may. at its oplion, require immediate payment in full or all sums secured by this Security Jnstrumcnl. Howevcr, this optiun 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 c:xc:rdsc thb option if: (a) Borrower causes to be submil1cd 10 lender information required by Lender to cvaluatc the intended transferce as if a new loan were being made to the transferee; and (b) Lender reasonably determines that Lcnder'" security will not be impaired by the loan assumption and lhatthe risk of a breach of any em'cnunt or agreemcnl in this Security Instrument is acceptable 10 lender. To the extelll permitted by applicable law, Lender may charge a reasonable fee as a condition to lender's consent to the loan assumption. Lender also may require the transferee to sign an assumpdon agreement that is acceptable to lender and that obligates the transferee to keep all the promises and agreemenls made in the Note and in this Security InSlrument. 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 nOlice 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 f unher 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 11 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 shall instead be in effect, as r allows: Tnmfer of the Property or II Beneficial Interest in Borrower. I f 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 transCerred and Borrower is not a natural person) without Lender's prior written consent, lender may, at its option. require immediate payment in Cull of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law 85 of the date of this Security Instrument. If Lender exercises this option, 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. tr 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. ~ \':lr BY SIGNING BELOW. Borrower accepts and agrees to the tcrm!ol and CQyenalllS contained in this Adjustable ~ Rate Rid'll) ~ ~~rIrJ)~ gIn ~ ~Ln ~=i 00' "''''' :a ..... -J ~ ~ ~ ~ 4lI La.. 0 'i I.~ ~ 0 >- ~I'""'a;w~ .s ~ Eg rJ)O "'" j CIl C . W ~, ~ l ~ c u ~~ ;q/JAJa~~ Paul A. Gangwis 1u ~'1Je~~l~~~lQ ~ (Seal) Borrowcr lJ'> Ln "" ;c a.. l- e) 0( I: In . c .... (Seal) Dornl\\lcl 0- .... .,., IScull Iltlllllllocr ClC ~ r:J 1""',111 1\"",''''<,1