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84~--~r00985 (B) Amount of Monthly Payments Mq monthly psysent will be in the amount of t3:S: $ The Note bolder will dvmge mq monthly paymecrt as required by Section 4(C) telow m theme t Change lldte and on ttrt day every 36th month hereafter. Fade of these dates-is cal]ed a •'Pa9ses~t'Change Diate." The Note Holder wt]1 also dmcge my momhly payment an any Interest CbanBe Date"if`Sectian 5(B) belay recpdrea >te'to pay the Full Monthly Amxmt. (C) Calculation of Monthly Payment Ctaangea Before each Payment Clecge Date, the No[e HoldeYwill=eslmate a ne+ monthly pny~ect suff3cieot- to repay the uegaid principal halac-ce on mY loan in full-oa [he'maturlty date at tM Payment Rate. in acbatantially -equal payments. The "Payment Rate" is the s~ of the< Indoc figures on tie five Interest Chaog~e Dates preoeeding a Payment Charge Date plus -the Current; Isar,; ,divided by the caber: percenta@e~1~X points ( '~_tsn X), rounded to tie aesreat one-eightfi of sae'. Except the payment rate will not ecxeed 13:990X. (D) Effective Date of Payment Cten@es Until the next Payment Change Date, I vtil pay the amt of my rev monthly"payment each month teginccicg on the first monthly payment date after the Payment Change .Date, or Ioter~t CtlaoFje Date if Section 5(B) Aelow requires me to pay the Full Monthly Amam[. 5. UNPAID PRINCIPAL BALANCE (A) Qaac~ges in My Unpaid Pricicipsl Balance My monthly payment could be less than the- a®cmt of the icrternat portico of the ` first Full Monthly Amount I osie or less than the interest portion of my first full Monthly Aanmt after an Interest Chacage Date. If so, the Note Holder will subtract the amiat a~f my mo~hly:paymect from the. amouc¢ of internst I owe and will add the differeooe to mY unpaid principal. halancss each month. until the next Interest Change Date. The Note Holder will also add interest as tie ascent of ttcia differare to my uc~aid principal ts]anee each month. Until the next Interest C6ptt8e Date men the Note Holden dera,cntn~ my rev interest rate re my then ~ principal belarce, the robe of interest on the interest added to principal wlll be the rate determiced in Section 2 above. My monthly paymecrt could be more than the amount of the Full Monthly Amount. Lf so,-.the Note Holder will subtract rte differeme fr® the uccpaid primlpal laalance of mq loan eadc month until tie next Intermit Ctrrcge Date as if I had made a partial prepayment under Section S below. (B) Limit as Unpaid Principal Balance: Required Full Monthly AmacK My unpaid principal balance ran never exceed a maximm amount egret to one }aadred twenty-five percent (125X) of the principal amount I originally:boaaaed. If my payicg the amwnC=.of my monthly paymec~ after acry Interest Charge Date would cause the u[~aid principal balaccce to ecaceed that maximm amount at acry time, I must pay instead the Full Monthly Amount as mY monttcly payment until the naR Payment Change Date. 6. CONVERSION TO FIXED RATE AND PAYMENTS (A) Right m Convert. I have the option, prior [o acry Payment Change Date, of converting this loan to a find interest rate acd fixed ®nthly payment plan as provided in this section. Once I have converted my loan, the interest rate acd the regular monthly paymecrt will rain uuidta[ged for the rest of tie term of the loan. CB) Rate acd Payment after Conversion. If I elect to coctvert my loan, then the interest rate for the r~inircg tare will not esoeed the "Fixed Rate Icdex" plus p~ percent. The Fixed Rate Indac is the ret yield requirement of Federal Horrors] Mortgage Assoc3atwn (FNMS) for 60-day mazdatory delivery of xew find rate ],Dacia as such Fixed Rate Inhx is available whar the rate quotation referred to in paragraph 6(C)(2) telw is made. The new fixed rate will be effective on the nett Payment Charge Date. The new fired payment amount will be the amouact which is suffident to repay the unpaid principal halazace of mq loan in full in subetantiallY equal payments by the maturity date. Z will pay this new fi7md amwact begincdng on the first monthly payment date after the Payment Charge Date on wYilch I carverted. (C) Exercise of Fixed Rate Option. (1) Request for Qurotation. If'I am interes[e~ in canerti[g my loan, I most ratify the mte holder, in writing, that I wish to have a fizad rate sad payment quoted to me. I must seal this request for quotation after receivicg a Payment Charge Notice ucder section 7 ani at least 30 days before the Payment Charge Date. (2) Quotation. When it receives my request for quotation, the note holder will seed me a notice quoticg the fined rate acd payment being offered acd the cornersion fee wizich I will have to pay if I decide to convert. The comrersion fee will mt e~oceed~.percent of the unpaid principal balacre of the loan on the Payment Change Date. The note holder vi11 nerd this quotation at least 20 but no ®re than 30 days before the Payment Chem Date. (3) Accepticg Quotation acd Carnerticg. If I wish to curvert my loan at the fined rate acd payment quoted to me, I most ratify the cote holder of my acceptance in writing. Such notice must be received by the cwte holder at least 15 days before tie Paymecg Change Date acd most be acc~acil.ad by the conversion fee. (4) Reduction of Time Periods. 1f the Payunent Charge Notice is not sent by the note holder at least 35 days before the Payment ~tEge Date, then each time period stated above sha11 be reduced by Five days. (D) Tere1natiac of Conversion Option. If [he Fired Rate Inieac ever ceases re be published or made available by FNMA, or if FNM!v ever asases quoticg and pv¢dcasing mortgage loads on the basis now reflected by the Fi~ueid Rate Index, then this corcvetaion option shall terminate and this section 6 shall cease to have any effect. However, if by that time, I have already accepted a quotation and com+erted my ]cart, such ten nation will not affect re. My fiaoed rate aryl payment will, in that event, rvmain in lull force acxi effect.