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RE.RECORD!r:88~ 106853 . 88-103.11 E .'. I r I wane to exercise the Convcrslo,n qPjion, I, must nrsl meel certain conditions. Those, conclTii'o'ns ore rhot: (i) I must.slve ,he NOle Holder nOllce lhat HVlthl 10 do so; (II) on Ihe Conversion Dale, I must n01 be In deraull under ,he NOle or the Seeurity Instrument; (III) by a date specified by the NOle Holder, I must pay the NOlc Holder a conversion reeoru,s, $, ,~:;P,.,Q9"", ". , . . .: and (Iv)l must sign and give the Note Holder any documents Ihe NOle Holder requl",s 10 erreCI'he conversion, (B) CalculaUon of Fixed Rale My new, fixed interest rate will be equal to the Federal National Mortgage Association's required net yield as of ad..e and lime of day specified by the NOle Holder ror (I) If the original term of this Note is g",ate,' than 15 years, 3D-year fixed rale mortgages cove",d by applicable 60-day mandatory delivery eommltments, plus ,I,I.?"", one pereentage point C.. On5.CVll). rounded to the nearest one-eighth afone percentage point (0.125070), or (ii) irthc original term arlhis Note is 15 years or JesSI IS~ycar fixed rate mortgages covered by applicable 60-day mandatory delivery commitments, pi". J.!.2, , , , , of one pereentage point (,.,QQ~,'Io), rounded to the nearest one-eighth of one pereentage point (0,125'70), If this required nel yield canno: be determined because the applicable commitments are not available. the Note Holder will determine my inte",st rate by using comparabie Information, My new rate calculated under this Section 5(B) will not be greater than the Maximum Rate stated in Section 4(D) above. (e) New Payment Amount and Effeclive Da'e If I choose to exercise the Conversion Option. the Nate Holder will determine the amount of unpaid principall am expected to owe on the first day of the second month after the Conversion Date. The NOle Holder will calculate the monthly amount that would be sufficient to "'pay the unpaid principal, at my new fixed inte""t rate, in full on the maturity date in substantially equal paymems. The resull of this caJc:ulation will be my new monthly payment amount. Beginning with my monthly payment due on the first day of the third month 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 1. 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: Traasfer of the Property or B BeneficlalIDtcrestIn Borrower. If all or any part of the Propeny or any interest in it is sold oc 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 full of all sums secu",d 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 causes to be submitted 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 Lenders security will not be impaired by the loan assumption and that the risk of a breach of any covenant or agreement in this Security InstrUment is accepatableto Lender. To the extent permitted by applicable law, Lender may charge a ",asonable fee as a condition to Lender's consent to the loan assumption, Lender may also require the transre",e to sign an assumption agreement that is acceptable to Lender and that obligates the transre",e to keep all the promises and agreements made in the Note and in this Security InstrumeoL Borrower will continue to be obligated under the Note and this Security Instrument unless Lender releases Borrower in writing. !fLender exercises the option to require immediate payment in full, Lender shall give Borrower notice of acceleration. The notice shall provide a period of oat 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 funher notice or demand on Borrower. 2. If Borrower exercises the Conversion Option under the conditions stated in SecLion B of this Adjustable Rate Rider, the amendment to Uniform Covenanl 17 of the Security Instrument contained in Section C I above shall then cease to be in erfeCl, and the provisions of Uniform Covenant 17 or lhe Security Instrument shall instead be in erfCCl, as follows: Transfer of the Property or II. Beneficiallnleresl in Borrower. If all or any part of the Propeny or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold Oi transferred and Borrower is not a natural person) without Lender's prior written consent. Lender may, at its option. require immediate payment in full of all sums secu",d 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 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 lnstrument without further notice or demand on Borrower. By SlaNINa BELDW, Borrower accepts and agrees to the terms and covenants contained": 7 ~uslable Rate RIder. "",U~.~"~.,, . (Senl) Wayne w. Holz UorrOlHI .",ct~a~.. Lynne A. Halz ." (Scali Uormllel