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r- I 0908666-4 FIXED RATE CONVERSION RIDER <.;;, ,,;i-:ii ~~~~ ; ~ ;,--~,\ r THIS RIDER is Dlade thia 24th dElY of $eptallll>e.r jf9 in(:orporated intoandsba.l,.l . pe deeJll<Hl .l;O;.alIl{Ind.liM l?Q:PP ,lfti~t(.) the Deed of Trust or Mortgage aloagdw1tbanY:Ad~y.lltapl,.. ... . ."~4elf" "Security Insnument") of the same 'dau g:l.venbytbe.undeJ:s~~'4'>("b, to secure Borrower's Note to TOWERFIN1h~ClAl., lNC,' (the "Lender") of the same date ( tbe"Note")a.oo 'coveJ:1'na. in theSet:uritylnstrument and located at: ' Grand Island, Nebraska 68801 (Property Address) In connection with the Note and unders:i.gned Borrower and of even date herewith, to the following additional provisions: 902 E. Sun5H A. CONVERSION TO FIXED RATE AND PAYMENTS (l) Right to Convert" . .... . I have the option, prior to any Pa}'lllent ChaageDate, . of cotlVeJ:tJ.n~;'.~b~~ to 'I fixed interest rate and fixed monthly payment plan as provid~>. section. Once I have converted my loan, the interest rate and theregu1ir>liIOtl, payment Iorl.ll remain unchanged for the rest of the term of theloan. (2) Rate and Payment after Conversion. If I elect to convert my loan, then the interest rate will not exceed the "Fixed Rate Index~ plus 0,750 percent ,TheFmdh'bt.'Itilfe~b is the net yield requirement of. Federal Nations' Mortgage Ass.ociat1oD (F_)'t;~#: 60-day mandatory del1vel'Y of new fixed ratl'} h1'", as St.Ul'~ Fixeu Rata ltidex> is'> available when the rate quotation referred in paragraph (3}{b) below1slliade. The new fixed rate 101111 be effective on the next Pa~nt Change, Date. Thenew fixed payment amount will be the amount which is suffic.ient to repay the unpaid principal balance of my loan in full in substantially equal paytlletlts by the maturity date, I will pay this new fixed amount beginning on the first monthly payment date after the Payment Change Date on which I converted. (3) Exercise of Fixed Rate Option. :+,>" (a) Request fer ~~ot3tion. l If 1 am interested' in converting my loan, I must notify the noteholdar. in writin&~ that I wish to have a fixed rate and payment quoted- to =t._ I..J=;at.- send this request for quotation after receiving a Pa}'lllent Change Notice under section 7 and at least 30 days before the Payment Change Date. (b) Quotation, When it receives my request for quotation, the note holder will send me a notice quoting the f ued rate and payment being offered and the conversion fee which I will have to pay if I decide to convert. The conversion fee will not exceed ? .X)O percent of the oopaid principal balance of the loan on the Payment Change ~- The note holder will send this quotation at least 20 but no more than 30 days before the PS}'1llent Change Date. (c) Accepting Quotation and Converting. If 1 wish to convert my loan at the fixed rate and payment quoted to me, I must notify the note holder of my acceptance in writing. Such notice must be received by the note holder at leaat 15 days before the Pa}'1llent Chaage Date and ~uSt be accompanied by the conversion fee. (d) Reduction of Tillie Periods. tf the Payment Change Notice is not sent by the note holder at least 35 days before the Pa)'lllent Change Date, then each time period stated above shall be reduced by five days, (4) Termination of Conversion Option. If the Fixed Rate Index ever ceases to be published or made available by FNMA, or if FNMA ever ceases quoting and purchasing mortgage loans on the basis now reflected by the Fixed Rate Index, then this conversion option shall terminate and this Rider shall cease to have any effect, However, if by that time, I have alre.t.dy accepted a qU'.;>tat ion and converted my loan, such termination will not affect me. My fixed rate and payment will, in that event, remain in full force aad effect. (5) Leasl Liaitation on Rate. If the fixed rate to be quoted on any Payment Change Date exceeds the maximum cha!8e6 PC rate ~llvwed by applicable law, then conversion will not be allowed for that i'aym"nt eh.nle Dat", l'h" not" holder may offer a lower rate or charges than r~H,;-d~")~ (~;() j--'-1,'};} _..l\, \....'ii: ;T'~