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RE.FlECORD141-aio. 06584 87- 1 G 6'. t,-) 0
<br />|/! want to exercisc the Conversion Option. I must first meet ccrigin conditions. Those conditions are that: W
<br />{must give the Note Holder notice that | Want todo so, W)mo the Conversion Date. / must not bein default under
<br />the Note or thwSewuh.yInmmwmm;mi>hyudm*wpec0mdhvthmMo'eHoWm,|mmnpmythwMw*M^ke,a conversion
<br />fee equal (�� phou�m ofmh U.S. $ 250,00 � and
<br />— '
<br />(iv) I must sign and give the Note HmWm moy 4wmwm*u' » the Note Holder requires w effect the conversion.
<br />(5) �����
<br />My Calculation of rate will twequal to the Fmdv,m| National Mortgage AssnwimAon'wrequired net Yield ma
<br />of date and lime of day specified by the Note Holder for (i) if the original term of this Note is greater than 15years,
<br />30-year fixed rate mortgages covered by applicable 60-day inundatory delivery commitments, plus fiv9-cighlbs Of One
<br />percimutite point (0.625 %), rounded to the nearest one-eighth of one percentage point (0.125%), or 00 if the original
<br />term of this Note is 15 years or less, 15-year fixed rdtc mortgages covered by applicable 60-day mandatory delivery
<br />commitments, plus five-eighths of one perccma8c point (0.625 %), roundcd to the nearest one-cishlb of oac percentage
<br />point (0. 125%). If this required net yield cannot be determined because the applicable commitments arc not available,
<br />the Note Holder will determine my interest rate by using comparable information,
<br />(C) Now Payment Amount and Effective Dole
<br />If I choose to exercise the Conversion Option, the Note Holder will determine the amount of the monthly payment
<br />that would be sufficient to repay the unpaid principal I am expected to owe on the Conversion Date in full on the
<br />maturity date at my new fixed interest rate in substantially equal payments. The result of this calculation will be the
<br />new amount of my monthly payment. Beginning with my first monthly payment after the Conversion Date, I will
<br />pay tot new amount as my monthly payment until the maturity date.
<br />C. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER
<br />}. Until Borrower exercises the Conversion Option under the conditions stated in S-.ction 8 of this Adjustable
<br />mwtc Rider, omm,m Covenant 17 of the Security /nm,vm,n, is amended to mud as h`Uvw,`
<br />Transfer of the Property or a Beneficial Interest In Borrower. If all or any part of the Property or any interest
<br />initi, sold o,transferred (or iyx beneficial interest in Borrower is sold u, transferred and Borrower i^ not ^natural
<br />person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all
<br />sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise prohibited
<br />by federal law as of the date of this Security Instrument. Lender also shall not exercise this option if: (a) Borrower
<br />causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan
<br />were being made to the transferee; and (u) Lender reasonably determines that Lender's security will not teimpaired
<br />by the loan assumption and that the wox of breach or any covenant or agreement in this Security Instrument is
<br />acceptable to Lender.
<br />To the extent permitted by applicable law, Lender may charge a reasonable fee as a condition to Lender's consent
<br />to the loan assumption. Lender may also require the transferee to sign *n assumption agreement that ivacceptable
<br />/o Lender and that obligates the transferee tv keep all the promises and agreements made in the Note and io this Security
<br />Instrument. Borrower will continue to be obligated under the Note and this Security Instrument unless Lender releases
<br />Borrower inwriting.
<br />If Lender exercises the option to ,*uoi,* immediate payment in /uU. Lender shall give Borrower notice u«
<br />acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed
<br />within ~W,x Bw,mwp, must pay all sums secured uv this Security Instrument. /r Borrower mux,tnpa«/hmm,vmo
<br />pfio,to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without
<br />further notice vrdemand on oo,,v°e,.
<br />%.nBor,nwr,,^ercimmtn^Conwrmiu"Ondnnundr,tx,coudidonomwt,dinSvch*nBnf'oimadum*WvR^m
<br />Rider, the amendment to Uniform Covenant 17nf the Security Instrument contained in Section C| above shall then
<br />,mme tntein effect, and the provisions nf Uniform Covenant |7ny the Security Instrument shall instead beineffect,
<br />as follows:
<br />Transfer wxThe Property wrm Beneficial Interest Iw Borrower. /[ all o, any part or the Property v, any interest
<br />mi/\» sold u, transferred (or ifubeneficial interest m Borrower io sold v, transferred and Borrower i^ not mnatural
<br />person) without Lender's prior written consent, Lender may, ox its option, require immediate payment in full orall
<br />sums secured uv this Security Instrument. However, this option shall not h, exercised b, Lender ir exercise isprohibited
<br />by federal law maor the date oy this Security Instrument.
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period
<br />v[ not less than 30 days from the date the notice i^delivered or mailed within which Borrower moo/ pay all ovmv
<br />secured by this Security Instrument. lr Borrower fails tu pay these sums prior ,n the expiration ^f his period. Lend,,
<br />may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower.
<br />BY SIGNING BELQW. Borrower accepts and agrees tothe terms and covenants contained in this Adjustable
<br />Rate Rider,
<br />'sca|>
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