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<br /> My new.tixed Intercet r:�te will bc cqual to thc Pcderal Nntionnl Association'e requlred net yield ns af a date nnd tlmc cif' �<-
<br /> Gay speci�ed by thc Note Holder fur (i) if the�riglnal tcrm of tl�is N�te ia grcater than 1S ycara, �0-ycnr (ixcd rntc
<br /> mortgages covercd by applicnbl� 60-day ma�idatary dolivery cominitmc�ite, pfus flve-elghths of onc percentagc �joint
<br /> (0.62396),rounded ro chc ncareet onaeigl�th of onc percentaga�sotnt(9.125�,�).nr(ii)If tlie originnl term of this Note ie 13 �:_
<br /> years ar less. i5-year fixed rate mortgages covered by ag�llc�blo 6Q•dey mandatory delivery commitments, plu9 _
<br />: flve-elghth9�f nne percentage poinc(0.62576),rounded to the nearest onc-elghth of onc perceutnge point(0.!25!o), ff thfa �.•..
<br /> reguired net �icld cannot b� detenained bocAUSC the ap�licable commitmenta are not avail�ble, the Note Molder will
<br /> :,.. .._._�..�.___�_.a..�....a..�h����1�;;S(al w111 hnr hr
<br /> dct�:mtnc my t�t�rr t rate o,u�i::g cv��'vec �;,�;:r;••,•,. �••a•�•.��a•�„�•����.....�..�.. — —
<br /> greater than the Ma�cimum Rate stated in Section 4(D)aUove.
<br /> (C) New P�aymont Amaun�t and EttecRivc D�te
<br /> if i choose to cxercise the Convoreion Option, the Note Holder wili deternilne thc amount of the monthly payment _
<br /> thut would be sufCclent to regay the unp�ld principai l am expected to owo on the Conversion Date in full on thc maturity
<br /> date at my aew fixed int�rest rate in substantially equal payr►tents. The result of this calculation will be the ncw amount of my
<br /> �aoiithly payment. IIcgi;uiing w(th my first monthly paymtnt after the Conversion DLte, I will pay the new amoun¢as my
<br /> monthly payment until the maturity date.
<br /> �.:. TP.ti�e��.+''_-'_`.�,'�'��I:�P�P'll'X l3�F A BE1�i��E�L LAT'A'ERFS'�'�1V BORROVI/ER __
<br /> l. UntilBorrower exercises the Convercioa Option uuder the conditions stated in Section B of this Adjustable Race
<br /> Ridar,�Uniform Cavenant 17 of tiie Securiry Iustruraeat ie ar�ieadul to rad as foll��s: -
<br /> Transfer of the Property or a Bencticial Intc�est in Honrowear,If a11 or any of the Pcnperty or eny interest in it i9
<br /> sold or transfentd (or if a beneficial interest in Borrower is sold or transferred and Bonower is not a natural petson)
<br /> without Lendet's prlor wdtt�n consent,Lencler may,at its option,rululre immediatc paymeat in fu11 of all sums sceured by
<br /> tUis Security Instrumeut.Howcver,this option shall not be eaercised by Lender if exG�ise ia prohibited by tcderal law es of
<br />= the date of this 5ecudty lnstrument.Lender also shall not exerciae this option if:(a)Bonower causts to be submltted to
<br /> l,ender information requltai by Lender to ev�luate the intcnded uaasferee as if a new 1oan wen being made to the
<br /> transferee; and(b)Lender reasonably detertnines that Lender's socurity will not be impaired by t�e loan assumptian and
<br /> that the risk of a breach of any coveaant or agreemeat in thia Securlty Instruraent is acceptable co I.endcr. —
<br /> To the extent pemnitteti by applicable law,L.endes may charge a reasottable fee as a condition to l.ender's consent to
<br /> the loan assumption.I.ender alsa may require the transferce to aiga aa assumption agreement that is acceptable ta Lender
<br /> and that obligates the transferee to keep all the promises and agrainenta maae tn tiie ivote and in chis�ccuriiy insiruuicni.
<br /> Borrower wlll continue to be oUligated under the Note and this Security Insmiment unleas I.onder relaascs Bonower in
<br /> writtng.
<br /> If Lender exercises the optlon to requlre immediate paymeat in full. Lender ehall give Borrower notic- of
<br /> acceleration. The notice shall provide a period of not less than 30 days from the date tbe notice is delivered or mailed
<br /> within which Bonower must pay all sums securcd by thia Securiry Insmiment. If Bonower fails to pay these sums prlor to
<br /> the expiratton of thisperiod,Lender may invoke any retnedies permitted by this Security Insuument wlthout funher aotice or
<br /> demand on 6orrower.
<br /> 2. If�oncowtr exercius the Conversion Option under the conditions stated in Sectioa B of this Adjustable Rate
<br /> Rider,the amendmentto Uniform Covenant 17 ofthe Secudty Instrumentcontainedin SectionC 1 aboveshall then ceasetobe in
<br /> effect,and the provisions of Unifotm Covenant 17 of the Securiry Insmuncnt shalt lnstead be in effect,as follows:
<br /> TransRrof theFroperiy or aBenenclal Interest in Barrowee. If all or aay pan of the Property or any interest in it is
<br /> sold or �ransferred(or if a beneficial interest ln Bormwer is sold ot transfeaed aad Borrower is not a natural person)
<br /> without Lender's prfor wdttcn consent.Lencler may,at its option,require i�runediate payment in full of all sums secured by
<br /> this Sxurity Instrument.However,ttus optinn shall not be exercised by Lender if exercise is prohibited by federal iaw as of
<br /> the date of this Security Instrument.
<br /> if:.ea�';r ez�sciesa thfs opt's�n,LRndc•r shs!!giy!'Rnnpµr�r nntirt�f arr.elr.r�tinn.The notice shall nrovtde a pCrlod of
<br /> not less than 3Q daye from the daca the notice is delivered or mailed within which Bonowcr must pay all swns secured by
<br /> tWs Securiry Instcument.If Borrower fails to pay these sums prior to the expiration of thia perlod, I.ender may invoke any
<br /> remtdies permitted by this 5ecurity Instnur�ent without funher notice or deraand on Bonower.
<br /> 8Y SIt3NIN(i BELOW Bonower accepts and agrees to the terms and covenants wntained in the Adjustable Rate
<br /> Rider.
<br /> ,. . ( - o — (Soaq
<br /> S V N C MKEN •BOrrowei
<br /> ISeai] _
<br /> . MARY A L KEN -eorrower
<br /> (Soal]
<br />° •Borrower
<br /> , (ra08�] _.
<br />— •Borrowor
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<br /> _ � _.
<br /> s � MULTLSTA7L'ADJUS'fABLE RA'IL+RIDLR•AR111 PLAN 57
<br /> � � 3118A Rcv.4/93(R01 O)
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