Laserfiche WebLink
<br />'" <br /> <br />200703878 <br /> <br />Loan Number: 0 0 2 0 0 4 3 2 6 5 4 0 <br /> <br />PREPAYMENT RIDER <br />(SECURITY INSTRUMENT) <br /> <br />FIXED RATE NOTE - THREE YEAR PENALTY PERIOD <br /> <br />This Prepayment Rider is incorporated into and shall be deemed to amend and supplement the Mortgage, <br />Trust Deed, Deed of Trust or Security Deed (the "Security Instrument") of the same date executed by the <br />undersigned (the "Borrower") to secure Borrower's Note or Fixed Rate Note, as applicable (the "Note") <br />payable to FREEDOM LENDING LLC <br /> <br />(the "Lender"). <br /> <br />Additional Covenants. In addition to the covenants and agreements made in the Security Instrument, <br />Borrower and the Lender further covenant and agree as follows: <br /> <br />Paragraph 1 of the Security Instrument shall be modified by adding the following to the end of Section 1 <br />entitled "Payment of Principal and Interest, Escrow Items, Prepayment Charges and Late Charges:" <br /> <br />Borrower shall have the right to make payments of principal at any time before they <br />are due. A payment of principal only is known as a "Prepayment." When Borrower <br />makes a Prepayment, Borrower will tell the Lender in writing that Borrower is doing so. <br />Borrower may not designate a payment as a Prepayment if Borrower has not made all the <br />monthly payments due under the Note. <br /> <br />Within the first THREE (3) years fromthe date of this Note, <br />if the Borrower prepays the balance of the Note in full, the Borrower agrees to pay a <br />Prepayment penalty in an amount as follows: <br />THREE AND 000/1000 <br /> <br />( 3 . 000 %) of the unpaid Principal <br />Balance of the Note if the Borrower prepaid prior to one year after the date of the Note; <br />TWO AND 000/1000 <br />( 2 . 000 %) of the unpaid Principal <br />Balance of the Note if the Borrower prepaid from one year but prior to two years after the <br />date of the Note; <br />ONE AND 000/1000 <br /> <br />( 1 . 000 %) of the unpaid Principal <br />Balance of the Note if the Borrower prepaid from two years but prior to three years after <br />the date of the Note; <br /> <br />_____________________________________________ /f:~-----------------__n......u____...---. _ <br />PREPAYMENT RIDER (SECURITY INSTRUMENT) -r-!!....-J DocMiJgic~; 800.649.1362 <br />FIXED RATE NOTE. THREE YEAR PENALTY PERIOD _-. _ www.docmagic.com <br />MB4625 04/01/06 Page 1 f 2 <br />