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<br />~3~-:v~l~~~.~ <br />RFDER TO <br />RENEGDTIA~.E 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 />' Transfer of Property; Assumption. Lender shall waive <br />its option to accelerate under paragraph 17 hereof if (1) prior to <br />such sale or transfer Borrower notifies Lender of the proposes! <br />transaction and sees that Lender is given any information it may <br />request in order to evaluate the person to whom the property is being <br />said or transferred, (2) Lender determines, in its sole discretion, <br />that assumption of the loan by the proposed purchaser or transferee <br />will meet standards of creditworthiness and security which are acceptable <br />to it, which standards shall, insofar as may be practical, be the same <br />underwriting standards as are then applied by Lender in connection with <br />malting a ne++ loan, {3) the person to whom the property is to be sold or <br />transferr¢d executes a written assumption agreement accepted in writing <br />.,:~, by Lender and agrees. to pay Lender's normal conventional loan assumption <br />1F,~, <br />fee, and__ {4) no r defaults exist under the hkrrtgage nr the Note <br />~:~ <br />,~ secured trereby: _ <br />-~ %, ~. <br />i` ~ - <br />CQNIMERCIAL FEDERAL SAYINGS & LDAN ~ ~ rfr// ~ <br />~ ;'c r ~ ~ t (. 1 _ r , lit. -- <br />~ Donald A, llennnardt <br />~. } //~, <br />Cat n, . , P.-ennl:ardt <br />DATE: %~ 3~ DATE: iC:~. ~..~~ <br />~9II 203A <br /> <br /> <br />I <br />