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r <br />~0-- p04197 <br />RIDER lU <br />RENEGOTIABLE RATE MDRTGAGE <br />In connection with the Renegotiable Rate Mortgage executed by the <br />undersigned Borrower and of even date herewith, Borrower and Lender <br />hereby agree to the following additional provisions: <br />If all the property is said <br />2a. Transfer of Property; Assumption.! Lender shalt waive <br />its option to accelerate under paragraph 17 hereof if'(1) prior to <br />such sale or transfer Borrower notifies. Lender of the proposed <br />transaction and sees that Lender is given any information it may <br />request in order to evaluate. the person to wham the property is being. <br />sold or transferred, (2) Lender determines, in its sole discretion, <br />that assumption of the loan by the proposed purchaser or transferee <br />vrill meet standards of creditworthiness and security which awe acceptable <br />to. it, which standards shall, insofar as may be practical, 6e the same <br />underwriting standards as are then applied by Lander in connection with <br />making a new loan, (3) the person to whom the property is to 6e sold or <br />transferred executes a written assumption agreement accented in writing <br />by Lender and agrees to pay Lender's normal conventional loan assumption <br />fee, and (4) na other defaults exist under the Mortgage or the Note <br />secured hereby. <br />COhNiERCIAL fEOERAL SAVINGS & LOAN -~rw %~' c ~~ <br />~f Gilbert A. Chapin / <br />Q / Max Ellen Chapin <br />OATS: D' ~l'"~~ DATE: `~ °" ~~ - `~'lC'i <br />~1 <br />M-203A <br />U <br /> <br />l___ <br />