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<br /> itiwai�to�e�cisetI�eComvers�oaOpSion.Imustfustmeetcertaincondi6oas.Triosecoedifwnsai�ethat:(i)Imust .
<br /> � � . �,,�theNoteHolderaoticethat�wantwdoso:ti�ontIxConkrsianDate.tmustnotbeiadefaultundertheNoucorWe ' �
<br /> _ - Secorit�r iastrumtnr,�ia)bSr a dau specif'xd tsy t6e NtXe HoMes,l must pa}t,he Note Hoider a conversion fee of U S.
<br /> -� � ` a ` 100.00 :and(iv)I m�ut sign�nd gite tbe Note Hoidcr any documenu the Note Holder
<br /> - , ' s�quires to effect tbe conversion. . � --
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<br /> — .�_-�.-� .
<br /> -- (B)CaTcu aT�dRatt--- �- . . - --------- --,—_-___-_ _--___-=
<br /> -�� �a . My riew.fixed interest ratt will be equal to the Federal National Mortgage AssaciaGon's required net'yietd • . __
<br /> _ -_� as of a date and timc of day specified by the Notc Hc►Edec for(i)if the originaI term af ihis Nate is greater tban 15 , ��.._
<br /> , years,3Q-yesr fiaed rate martgages covered by,�ppl�cabte 60-day mandatur�+Qelivery comraitmenu.plus five• -� •-----
<br /> � �---_--
<br />= eighths of.oae petcenta8c pQ"tnt(0.62S�k�,lvanded ta_the�t one-�ig�►th vf onr pecrentage paint t0.l255fc).or _�,:`^
<br /> _ (ii)if the origii�!term of this Note�ss;IS ye�rs orless.15-year.fixed tate mottgages covemd b}apptie�bie C�0-day --
<br /> �y__;�ti�
<br /> mandatary dsUvery commitmenu..ptus�fivetigbths;of aae percentage point la•6255�).rounded ta t6e nearest __��--__� Y=
<br /> - - - one eighttr af one percentage poi�t0:1?S5io3-If tbu�required net yiet�cannot be determined 6ecnuse the appli- ;�,�-,a,;�.::°�-
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<br /> - �, cable commitments are not available:'the Note Holder wilYdetermiae my intesest rate by usiag comparabte ��
<br /> �`. ��" ---
<br /> _ .,�, information.MyaewratecakvlatedunderthisSectioaSfB)willnot6egreatertl�antheMaximumRatesfatedinSectioa �.:. _.,�--_---_
<br /> � -� -:,`• 4(D)above. MV INTEREST �RATE W IL.L NEVER BE GREATER ThtAN 12.5�� PERCENT. :'�t• --
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<br />. � tf i chuose to exercise the Coriversion Option,the Note Halder will determine the amount of the monthiy _. ,�.v.°�
<br /> " - payment that woutd be sufficient�o repaty��inipaid principat I am ea�Qected to owe on the Conversioa Date in ,-.� � - __
<br /> . •� =� • fall on the maturity date at my nep"v fixec�#'�.�rate,in substantiail�ec�ual payments.The result of this p1cu� _ _
<br /> �-� �;-�r^>-: � ladon will be the new amouat+���r�t'`ipayment. Begianiag witfi my�rst mon t h ly p�ytnent a f ter t h e :
<br /> � :`��''E",�j;`L �'j�,=� Conversion Date.I will pay the�*.:e��.s�nnt as my monthly•�a�caent untii the Maturit}.d'ate. � � __
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<br /> - - .,,�°`.•.`.'��:,. ..... . C.T R A N S F E R U F T H E E R[)l E��Y O l�I►BENEFICf��TERI''•S�IN B�RibU�1lER = __
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<br /> �}' :���• 1.Until Bonower eaercises the Conversion Optian undetr the co�Qns,stated in Section B of this Adjust-
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<br /> ���tt" • able Rau Rider,Uniform Covenant 17 of the Security tastrument is ajaec�ed to read as follows: _
<br /> ;.-.a .,,.. . .::�:s�•
<br /> , ro,_�.�; • . , ,_; , . . �
<br /> `�'t s`.:�.. _.'�� 1Ywns[er ot tbe Propert3►ar�►�eneticinl Interest ia Barr+nvrer.If all or any part af the Property or any interest -, —�--
<br /> 5',i�;��'�..�. �. . - �-��.°—'._�.
<br /> ;;.�'.�;.�,-;,.:. in it is sold or transfened(or if a:heneGcial interest in Borrawer is�Qld or transferred che Borrower is nat a _ _ ,
<br /> �-J?'•�:;° :' - natural person)wiL�out Lender s prior writcers�consent.I.ender may.'st ii:�:.�ption,require immediate payment in --�
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<br /> �"�';�?!�:.;;.,�. .� full of all sums secured by this�ritj�����ment.However.tt�i�:a�s�oa shalt not be exercised by Lender if `'.�-,.�-��__
<br /> � .� >1 exercise is• rahibited by federaL i��,as of tbe dau of this Security lasrrlrnen�.Ls�er also sball not exercise chis '
<br /> �,,,;a.: o rian i�(a)Borrower causes ie£�:submitted to Lender i�f�rmation required by:� ��der ta evaluate the intended i,� ���r�'_
<br /> �``�+��"" transferee as if a aew loan were being made to the transf�e�,and Ib)Lendei sry,.,.isa�ly determines that I.end- � � ".:,;,Y,� �'��
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<br /> ♦ ` ' er's security wiU not be impaired by the laan assumption arsd that�tF�e�isk�f"�breach of any covenant or �,�. , ;�. „
<br /> agreement in this Secvrity Instrument is acceptabte[o Lender. � - , '"
<br /> ;�,, . , . ��'�
<br /> � Ta fE�e extend Qermitted by applicable law.Lender may cFizrge a ae.:�onable fee as a condition to Lender's � �'
<br /> conse�.�t�the loan assumption. Lender also may require t�tr:u*.sferee ta sign an assumptian�greement that_is i.
<br />• '' ' •� acceptabte to t.ender and that obligates the tran.feree to keep afI a�t�is�.e-mises an�agreements made in the I�1ote ; 1:
<br />. ;;;�;'""'�' � and in this S'ecurity Instrument.Borrower will continue ta be obfigzCe:ur,3er the.Nate and this Security Instru- . ,. . � : Y .
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<br /> ,�;:,yt,;,,.� � ', ., mcnt untess lenderFeleases Bonawcr in writing. . . . ,
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<br />. :��; ' '� Tf Lender exercises the option ta require immediat�pay��:nE in fuFt.�[.er:�:�s�:�;al l give Borrawer notice uf:, .; f ' , : ; �
<br />• ��`;�;����`` .� aaceleration.The notice shall pr�vide A periad of not less s�a!�3f��ay�s from tr�d:x;the natice is delivered=pT , � � ',::,l;t�;. ':,; . ,
<br /> � m�ited within whicb Borrower must pay all sum�yecure8 b3 this 5.c��rity Ir,:.tz::��-nt. If Borrower fails ta��x;�y . �`:`�'�;;i .
<br /> i,- :, ,
<br /> , " thase sums prior ta ihe expiration of this periad. Lender ma}e�ca��zwy�remedies permitted by this Security � -
<br /> lnstcument witha�:ff.�arther natire or demand an Borrower. ' ". � ��I ,:..�.'_�F
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<br /> ` � 2. If Barrower exercises the Canversian Option uncer th:cand"Ri�ns ytated in Scction B of this Adjusta6te , :, ' ::: � , ,
<br /> � � R�te Rider.the amendment of Unitorm Covenant 17 of tht 5ecurity tn�trument cantained in Section C 1 abn�e � � . �
<br /> shult then cease td be in effcct. and thc provisions ot'Gt�iform Co4c7ant 17 of ehe Security Insuement shall •
<br /> insteud be in effect.as follows: � � •
<br /> 7fansfer of the Property o�a Nenefici�Intesest M Basrower.!f utl or any p�art af thc Prc�per�:�az any interest ,
<br /> in it is sold ar transferred{os if•a beneficial intere�[in��rrn�ver i�sotd or trar,>t�FreQ ar.d Borccswer is not a ;
<br /> ti .�,;�,�'` natural persan>wlthout Lettdar's prior weitten ronsca=. l.��rder may.at its nptiorr.rac;:�:re imme�`i�te paym�r.r.ia � �
<br /> . ' full of�Il yums secutrd by this 5ecurity In�trument: However.this�option tiha2i not be exerci��isy�rde:�if •
<br /> ' � exercise is prohibitedby federal law as of the date a�thi.r Security Instrac�x:�t. •
<br />: ' lf Ler,Cer exereises this option.Lender�hatl�give Bosrawer notirc nt'uccelerutian. The notte��all�pmc%d�.
<br /> a peria�S o9 not?e:•s th�o-�U d�ys fre�m ehe date the natice is dcinrred or mailed�vithin which Borrrnver musr-p�� , '• , ' ,
<br />' • � all surrT.�securE��bj�thi9 Security lnstrument,�ti�btrnwer fs�il�t��pay thc�e�u�m prior ta thc expirution of ehis ', .
<br /> � . period.Lender nsa�invuk�any�vemedies p�:cmmueted by this 5ecurit} tri�trument�vi�hout further r.ccice vr demand '
<br /> �� � on Hnrrawcr. �
<br /> " ' "` , ' .� �BY 51GNiNG BELOW.$:.:rnwpr scrcpto�:md�.lgrrc't tc.-th:•t��:rm�i cn�enants cc�ntair.eu�ia•thiy�Adjustablc i
<br /> .._ _ - Rate Rider. . . . _
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<br /> . • ' !'h�...i..�-.�.;1••r��_�.t'�!i-...�1 i�.�S fdr11U�O� ........gliff/ri/Ct •HI�ttlsNl't . .
<br /> _ � ::. . . �. � ', . �.I._���C�:,���r.:n!�. :. �'ral� �t C�)��;�Liri1t, Form311S1JA9�r„c�:,.�:,.,�Y,:, ,
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