|
_ =.t,r,--n*-.• — - ; _ '- -� .. ...c---'---— .— -- — ' — y.�_A
<br /> -ti' , -..� �� t� . - . � � . . . 'rsii�- �.--_
<br /> — `�f'.�'� � �}C?' - - '"—�,..�_ c .��t^ ..— — --___-. . -
<br /> ' 'Y. . S. . _ -. -.' •.
<br /> _ , � . ` ' '. . .. .. .� .. .. .. - _ - ..
<br /> �- �.�,_ �`�`— . . .` '_' � , .t_( �' `` . � �- � -`- � � .-- `-= F� . - . - ` �i��f���
<br /> - ` . .� _ . . ` . , . , _ , ..- _ . � . . � � . .
<br /> �. .. . . . � .� < . . . . . . . , . .- � t ' ' . ... •
<br /> . �lftwra�tpeaencisetheCc�avecsiou0ptioo.imustfsrstm�eetatuincanditioas.ThoseeondiUonsareti�(i)I�st �
<br /> � ___�iYe�Naie�nWernotioet6at�w�todoso:l�load�ConversionDate�.�mustno�6eindefaWtundertl�Ptateathe
<br /> _ __ -- ------ - _
<br /> - - -�----- -_.__ -- ---r��_ - -
<br /> . �s«�rHy.r�a�mew: �a �. . ce s�a� , �� .
<br /> _ . �.' s. lOA.Od , :and#iv}1 pa�i sigQ a�nd give tb�e Notc-Holde�any doclunents the�tate Holder_. . --
<br /> � , ceq�wes ro effect tLe convecsion. � � , , � - � � '
<br /> ` (�l Caial��tFizal ltate ' t ' . ` . . ,
<br /> �- - - � .-_-
<br /> _ _ . _ - _ � . , .
<br /> , ; My.atw..fixed intertst rate�T116e eqaa!to the Federal Nationa!Mortgage Associatioiss required net yietd �-
<br /> as of�date aid time`of day�specifiod by the Note Holder for(if�if the original term of this Note is gt+eater th�n�IS
<br /> , ` years,3�year fixed rate mortgages covered 6y appiicabte b0-day manQatory detivery Commitments,ptus five-
<br /> eigl�tbs of one Pecrentage Point(Q.625�).munded to the nearest one-eight6 of one percentage poim(0.125�k�.a
<br /> � ' !i�)if tbe original urm of this Note is 15 years or less.IS-year�xed rate mortgages covered by applicable 6Q-day
<br /> � m:ndatory delive�'y commitmenu.-plus fi�e-eighths of one percentage�point(0.625�).rounded to the nearest
<br /> . . �one-eig6th of pne:percentage point(A.I25�c).If this required aet pield cannot he determieed beca�se the�PPU-
<br />-- �cabk contmitments'are not av�ilabie.the NoRe Hofder will determine my intetest r�te by usiag comparable , . _
<br /> - iafonaation.Mynewratec�3culatedunderthisSecaat5 t8)�villrtatbegrr.aterthantheMaaimwnRate statedin Section
<br />=_� , 4(D)above. MY INTERES'F RATE WILL�NEVER BE GREA'PER THAN 11.750 PERCENT.
<br /> _ (C)New Ary�eat A�oiNt�ud Fdfieetive D�te . .
<br /> - I�I chqose to esercise th�Eonversio�Option.t1�e Note Holder will determlae t6e amount of the monthiy
<br /> payment ti�at would bt sufficient to repay the unpaid.princi�i�I am expected to owe on the Conversion Date in
<br /> =- ' full on ti�e.maturity date at my.Qew fix'ed interest Fate in suJi��.^�ntialty eqnal payments.The resutt of tbis pica-
<br />��'� �lation vr•fii_ix the aew amount�of m �nonthl a ment:• ,. nnin with m �nt monthl a ment after t
<br /> Y YPY � 8 Y YOY �;-;� .
<br /> — ConveisivQlrate,i will pay tirc new amount as my monthly payment untit the Maturiry'date. � :;�>�:�
<br /> `- C.TRANSFER OF"rHE P1tOPEitTY OR A BENEFICIAL INTERESf iN BORROVYEB =—
<br /> y�, t. Until Bonower exercises tRe:Co�version Option under the cotiditions stated in Section'B of this Adjif�t?;�'.�.,' ��������
<br /><.<:�!�. ' abk Itate Rider.Uniform Cavcnaac LT+af the Security tnstrumeni is amended[o read as foltows: �'�' _
<br /> ,. ;,-;�. . .
<br /> ,•'�j::t..�.•''' 6:-:.�.�.._... .
<br /> ' ' 11rAnsfer of the Propesty ar a�eneticJal Interest in Borrovrer.lf all or an�part af the Property or any inter�st . • -�
<br /> ' in it is sold os transferred tor if a bene�cial iaterest in Borrower is soid ar transferred the Bqrlrawer is not a ' ` �'�
<br /> ' �~ ��:;_"_
<br />-=�s,r: ^_� natural person)without Lender's�rior written consent.Lender may.At its option.require immedisit�pa�+mer�t in —_—v
<br /> .;;F: =.; fuU of atE sums secured by this Security Instrument.How�ever.this option shall not be eaercised by Lender.'�. , �
<br /> ,_,:.. , _
<br />`3���, exercisc.is Qrohibited by feAeial I�ww at of thc date of this�urity Instrument. Lender also shaU not e�ercise.this' ` � _
<br />�'�� .' =� opaon if:fa)Borrower causes tu be submitted ta Lendec irifnt�ation requirec!6y Lender to evaluate tfie intendc� � ����
<br /> �' `�°_ transfer�e as if a rte�Eoan were being made ta the transferees�and Ib);l�ender reasonably determines�that Lend- �;�-;,� �<. :
<br />;:;,,,�,.. er's security will na�be impaired by the laan assumptien:.�u�#tf�ai.ifi�risk of a breach of any covenant or ='�^;_��
<br />�� .. , :_'� agreement in this Security Instraseot is acceptable ta Lertdx.c :. . � _ _ ;��
<br /> To the extend percnitte�i��a�C"scable law.Lender m�}ci�arge a:r�asunable fee as a conditian to Lender's .��
<br /> � jr .� • ' consent[o the loan aa�ui�tion:�l:�ader alsa rnay require the transfere�s�a sign aaassumption agreement that is . . ' � ��?t=-
<br /> ' - ~'� ; acceptable to Lender.:�nu-iYat��iigates the[r:a�-�eree ta keep all the pii3mises and agreements made in the Note ' " - ��-
<br />�:��" ' ' and in this Security�na:n�e';�ae-��:rrou�et uill'°�ominue ta be obligated under the Mote and this Security Instru- : }"�
<br /> . .� ;. . mentantessienderreteases�ur�.u��wr�iti�.: ' .. - '�-` :,.=:;
<br /> ..�.;-: , =—
<br /> : - ' If Lender exeresses the optian to requir�±in::�ediAte:�s;ment in ful l..Lender shalt give Bonawer notice o� - __
<br /> J" �.r aceeleratian.The crn�x shall provide a periac�•+��not le�s than 30 day��irom the date the nattcr is delivered or , �� __..._
<br />�� =' mailed within whicix 8oricjwer must pay alt�u3r.�secured by this 5eeurity Instrument. If Bortctw�r fails to pay . r =
<br /> t hese sums p ria r to the ex pirotion of this period.Lendcr�a y imoke any remedies permitted by this Secarity ��, � _i'
<br /> Instrument withaut further notice or demand on Borraa•er. . �`�`.,;:j`�;Z==_
<br />_t ' �
<br /> �• 2. lf Bonawer exercises the Conversian Qptian under the conditionti ytated in Section B of tbis AdjustabTe�. '.� =�ti'�V'
<br /> � �'; � [tate Rider.the amendment of Unifarm Coven�nt 17 af the Security In�irument contained in Section C 1 abave � • ��""
<br /> shall�hen cease ta be in effect.and the pr�ivisiom of Uniform.Cov�nant 17 af the Security Inctru�neni shall ��� ' � �'�':
<br /> instead be in eifect.as folfows: . ' �;� � � � ' �
<br /> � ; . , '�,�, . . ,
<br /> � `'"� h y=�^. , Ttnnsler of the Property ar.0 Beneficial lntcrest in t�ort�'er.If'atl��r any part af the Property or any intere�t � • .
<br /> `�t"::..: .
<br /> ' "*�"�'�°°'"� in it is sold as transfened lor if a beneficial intcrest in B�+rr��wcr�i��>td ur tran�ferred and Borrow•cr is not� _ . •
<br /> � '� natural person)without L.endet s prior written.t�n�ent. Lender may:su.ii.aption,reyuirc irtfinediate payment in : � , •
<br /> ��;� . "
<br /> .-_',Ft;:-0il�,� t'ull of all,sums secured by this S�curity: In�3Li.tuient. Haw�ever.thi�option�hall nrn he exerci.ed by Lender if �� ,
<br /> . � � � --�'-tl �i�f; � exer�ise iy rohibited b federalla�v-as'i�fthe'datc af this Sec+:r+ty Intitrument. f , .
<br /> , . _ '?�_.�:.,:� , P . y � •
<br /> �-��"-"���" If Lender exercisec this apriuttc Lendet�hall gi�•e Barn��ver n��tice.�i'aceelerati�m. The notice.r•hall proviJ� ' �"''"
<br />. � {+f�i-r � : �• • .
<br /> ;'' ` a period of not less ihan 3b days fmm the date the nafice i�dcli�•.r�d nr rn�ited���ithin which Barrower must pay
<br /> * al)sums secured by this Security Instrument. !f Burro�ver iail�to pay the�e�ums pri��r ro the expir.�ti��n of thi� �
<br /> ��~:^ • . • .,.
<br /> ���=':_� ..' period.Len�ter may im�okr any remedies permitted by thi�.5ecurit}� tn�truni¢m with��ut further notice or Jemand
<br /> �� �� on�orrower. .
<br /> ��/}�,. +�
<br /> ��'t�?^i ':'F"� � ' . .
<br /> � ° ''-.' �` ' � BY SIGN1Nt3 BELUW.���rt��wet acrepl�snd a�tce�tu the term�an�i anenunt.contained in this Adjust�.ble `. s .
<br /> _ �.,:.:a�.�..:�. ' Rate Ri�ter. .. . , . .
<br /> � • ' � ..................... ..... �5ealt !�•�����---�1�- •!/•••.�� ... f . .�sc�ti� ; . . . .
<br /> • ••..••.•.• - iiuttaacr /� durro��cr .
<br /> �
<br /> .:�`_ • WILLIAM W CAR'fER Ji�
<br /> . . . . . ' .. . .. ..............................I5ra1► MAi2Y, E, CARTEF���. .. .��!�?�`4t;ea1� , . ;
<br /> . . . •••••• ••.• • , Nurrcnree
<br /> —_—_ -= -. , _;— - . - � . _ . . Hnszm.ee _ - � -�.�__._
<br /> -• ' . ', ' fOte1311AUD9�P,�c�:�•!:� '.r� • •
<br /> - , j .
<br /> • , ' % ' • . .
<br /> , . ' . _ . ..- - -� -. .... .. . . _ . _ - ---- -- . _ . . _ _ _. - - — - - - - --- . _ _
<br /> . ' r � ' , . �' , . .
<br />
|