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I r E. TRANSFER OF PROPERTY; ASSUMPTION The following Paragraph 24 ia hereby adopted: 24. Transfer of Property; Aasumption. Notwithstanding the provisions of Paragraph 17 hereof, Lender shall waive its option to accelerate under Paragraph 17 if (1) prior to such sale or transfer, Borrower notifies Lender of the pro~osed transaction and sees that Lender is given any information it may request in order to evaluate the person to whom the Property is being sold or transferred, (2) Lender determines, in its sole discretion, that assumption of the loan by the proposed purchaser or transferree will meet standards of creditworthiness and security which are acceptable to it, which standards shall, insofar as may be practical, be the same underwriting standards as are then applied by Lender in connection with making a new loan, (3) the person to whom the Property is .to be sold or transferred executes a written assumption agreement accepted in writing by Lender, agrees to pay an assumption fee which shall be equal to the origination, discount and other fees, charges and processing costs then being charged by Lender on similar new loans, and agrees to an increase in any applicable maximum interest rates as provided below, and (4) no other defaults exist under the Security Instrument or the Note. 84 __003414 /. /// . /.< ....t.>'"--.""L...--/ (Borrower) This Paragraph 24 shall only apply to a sale or transfer consummated prior to conversion of the loan to fixed interest rate and payment under Paragraph 1 of the Note. Upon an election of Borrower to convert to a fixed rate and payment, the provisions of this Paragraph 24 shall terminate and shall have no force and effect on any sale or t 'nsfer consummated thereafter. The maximum interest rate provided in Para~ra~ 4(b) of the Note shall be increased by 1 percent, consecutively. for each assumption pursuant to this Paragraph 24. Any such increase will be effective on the first Change Date following Lender's offer to api-Love the assumption if such transaction is thereafter consummated, By signing this, Borrower agrees to all of the above. 'j\:l (" I ... / /.1:/ _L ./ i"-L(jf.i(ZJ-"c~I.J-&? . (BorrQ1il.er) 1 l:~ (' (', t L TMC-029 (qc) (Page 2) Rev 2/84 (CAP 5)