Laserfiche WebLink
z <br />$0--~t1~~55c i <br />RIDER TO <br />RENE64TIABLE RAT€ MORTGAGE <br />- .v <br />~.- <br />~~ <br />In conmection with the Renegotiable Rate Mortgage executed by the <br />undersigned Borrower and of evert 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 rrotifies 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 whom 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 />wild meet standards of creditworthiness and security which are acceptable <br />to it, which standards shalt, insofar as may be practical, be the same <br />underwriting standards as are then applied by Lender i^ connection with <br />making a new loan, (3) the person to whom the property is to be sold or <br />transferred executes a written assumption agreement accepted. in writing <br />by: Lender and agrees to pay Lender's normal conventional loan assumption <br />fee-, and ~(4) no other defaults exist under the Mortgage or the Note <br />secured= hereby. <br />COMM£RCIAC FEDERAL SAVINGS & LOAN ,~,~~,~il.r.~i! <br />a~ ~7elbert A. Linden <br />Linda M. Linden <br /> <br />M-203A <br />`-^- <br />i <br />i___ <br />