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<br /> .°� `�:t� _ �'� ,f�: .:°. � 92— 103�6� � ..
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<br /> r�`4'`�"''"��'�''�`�:;", � IflwanttaexcrciKe�heConvcreionOption,lmustfirstmeetcertaincondi�i�nwThoxcc�mditiontiurcthat:lillmu�t
<br /> �....�,..d,_��;..,._ ��=-
<br /> ry�;Y�.K?��4.'''.��r'"� give thc Note Holder notEce that I want to do so;lii►on thc Conver�i�m Dute.1 mu�l not be in defuult under t Ix Natc o�Ihe
<br /> '�:;��.-,:.,,. ._.�� ,' Securl�y instrument:(ifil by a dat�specified by the Ne�te Nalder. I mu.�pay�he N��tr Ho1Jer u convertiicm fee of U.S.
<br /> l �::��.�• � S 100.00 ;ond Iiv1 I rnuxt sign und give thr Notc Holder uny dc�cumrntti the N��te Hotder
<br /> - �. .��•�`; „• requires to effect the convcraian.
<br /> .. :�`..,�n.ic .
<br /> ♦ 31 • t: ....
<br /> . �`�. .. __ (Bl CokulAtloa of Fixed Rote --
<br /> - T __ . � �_ - .-,�_ • __�_
<br /> . , ,,.�' � �� - .°' My ncw.fixed interest rnte will be equal to the Federul National Mortgu�e Ax�ociution��equired net yield o.
<br /> • ° as of a dAte und time oi dAy spccified by the Nute Holder for Ii 1 if the origin�l term ot�this Nnte i�greu�er�hun I S ____ ___
<br />__-_��e�� � - • yeurs,30-yeAr fixed rote martgagec covered by npplicAblr 60-day mnndutc�ry Jelivery commitmenls, plu�+five- ..;`��:�F�w.�_-�
<br /> ��i.�.��.�;:;:a_.
<br />_�:}= .. ^ •. � , " eighths of one percentAge paint(0.625'�rl, rounded t� the nearest one-cigh�h of one percentage point 10.1?S�ul,or �-- _�____
<br /> . � (ii)if the ariginal te�m of this Note is IS yeurs or less, 15-yeur fixed rAte mortgage�covered hy applicable fi(1•duy �i,�;���,,,.,_
<br /> 6�' • � mandatory delivery commitments,plus five-ei�hths of one percentuFe point 10.62S7o1, rounded to the neu�est �n ,,, _ _
<br /> �'`'" �,,_,; one•eighth of one percentuge point 10.12Srk1. !f this cequired net yield cannoc be determined becausc the uppli- --_��� -
<br />_ ` ,+�:..".-'��.•i �
<br /> ""'�•�+��- —�� cable eommitments are nm avsiilahle, the Note F#�Ider will determine my intcrest rute hy using c�mpnrnhle �:��-�---_.____
<br /> " , • lnformution.Mynewrareculculotedu�drr�hisSectionS(B)willnotbegreutertlT:uetheMuximumRutsstuteJinSection ��'O"�`-�
<br /> �' �{�.��:.=_
<br /> ,, " � 4(D)pbove. MY IN7EREST RAtE WILL NEV�k BE 13REATER THAN 11.250 PERCENT. �?wn�,-='�-_""__
<br /> . -- -;- �
<br /> • ��� � � � � (C)New Payment Ama�pt pnd Effective DAte �;�;��-;;r,,.. -
<br /> • - '' ����4 ��� If 1 cl�oose to exercise the Conversion Option.the Note Holder w ill drtermine the umou��of the monthly - � -- ��-�-
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<br /> • , � puyment that w�ould be sufficient to repay the unpAid principal 1 am expected to owe on the Conversion Date in �t.•.��;
<br /> . �..�"••�. ��.. :
<br /> full on the maturity du�e ut my new fixed interetit rate in substantially eyus�l pnyments. The result of this calcu- � -�:_
<br /> �' � ° IAdon will be the new Amount of m monthl a ment. Be innin with m first monthl n ment ufter the ��=
<br /> Y YPY b'� E Y YPY �r.
<br /> Conversian Date,I will puy the new amount as rny mon�hly payment until the MAturity dAte. _�"'����_
<br /> . �' C.TRANSFER OF�'HE NROI'ERTY OR A BENEFICIAL INTEREST[N BURRUWER ��-
<br /> � .. � � . ' 1. Until Bnrrowcr exercises the Conversion Option under the condilions stated in Section B of this Adjust- m==�'-=-- _
<br /> • � able RAte Rider, Unifarm Covenant 17 of the Securiey lnytrutnent i�amended to reud as foliows: ��;��_.,...;,_
<br /> � 'l�nsfcr ot thc Property or a Beneiiciwl Interest in Borrower.If ul I or any purt of the Proprrty or nny interest �"��;t�. �.s?,. .��
<br /> :_ ,.,,�;.•`�. � in it is�old or tranxferred(or if u beneficial interes�in Borrower is sold ar trunsfcrred the Borrower is not a �',���;Y`
<br /> - �*-�---�—^~,- � w �lien cu�weut.Le��d�r ma:at itc o ttan. rc uire immediate � ment in ��':��,-.:•.`=--Ti�:�""-`
<br /> � ,,.,. • . naturul personl wit6out i.ender�prior n y P �i � y �����- ��r-
<br /> � � � �'�, full of ull sums secured by this Security Instrument.However,this option�hull not be exercised by Lender if �+��-=-'�'''�
<br /> .,.;;7i�_��r: .�...
<br /> ., exercise is prohibited by federAl luw as of the dute of�hi, Security Instrument. l.ender also shall nc�t exercise this �•'.1i°����„-�L,,
<br /> �•,,;�;' , option if:(a)Bormwer cuu+es tu be submitteJ to Lender informution requfred by Lender to evuluate the intended _�"�-1°•�=_''•"`..
<br /> ���" .', trnnsferee as if u new loun were being made to th�transferee:und (b) Lender reA:�onubly dciermines that Lend- � �'_�=='=
<br /> '�� �� ���. er's security will noi be impaired by the loa� assumption and that the rick oF n breuch of un co�•enunt or !;1 �:��`••,
<br /> Y .,1•���,i?�. •-
<br /> ' � ,''':;' :� �greement in thi�Security Intitrument is acceptable to Lendec , � �
<br /> To the extend permitted by upplicuble law. Lender muy charge n reuscmable fee a�a condition to Lender's �
<br /> ��� '=i'-
<br />� � '' consent to the loun usxumption. Lendcr ulso rnuy reyuire the trumferee tn sign an nsxumption agreement thut is ;• . :,. . �
<br /> '���� acceptuble to Lender And thut obligate+the trun,t�ree to kcep ull the prom ises und agrcemenh made in the Note � '�•� �'��r• :-�"�
<br /> •.,� s.�����, and in this Security Instrument. Borrower will continue to be obliguted under the Note and this Security Instru- � ,,,,�____
<br /> ; ,. '',�';;'.,� ment unless lender releuses Borrower in writing, �n;:.s,_�--
<br /> � If Lender exerci�es the ciption to reyuire immediatr paymcnt in full. Lender tihall give Borr�wer notice of - " -•�. �•� �'-�'�_�,,,
<br />. �'.'''�,'1 : � ' f_
<br /> .,, acceleration.The natire shall providc a perind of no�les,than ;(1 duy�from the dutr thr notice i�delivered or .,_
<br /> � . mailed within which Borrower must pay all.um.tiecurr�l hy thiti Security Imtrumrnt. If Borrower fnils to pay � •�.�.�' '�•�=6�
<br /> � these sum�pricir to the expiration of thiti 4xri�d, l.ender may invoke uny remrdirti permiued by thi.Security ,.t�_;__:.: •. �
<br /> •' " Instrumcnt without further notice or Jemund on Borrower. "` %�'�`- -
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<br /> ...'•;'�''�,'• 2. If Borrnwer exercises the Convertiinn Option undrr ih�ronJiti�m� .�ated in Sertion B uf thi, Adjustable � �..4°
<br /> .' ' ' '' ' ��"�° " Rate Rider,the um�ndment of Unifnrm�'a��rnunt 17 nf�hr Srcurit� 1 n.trumrnt cuntaincd in Scction C 1 above ,
<br /> ','. ,.. t� ,: ,��t:::, • , �
<br /> � shull then ceuse to he in effcct, and the provisicins nf Unifonn Cov�n•rnt 17 uf thr Srcurity Instrument shull j _
<br /> • ' instead be in effcct,us folluw�: �
<br /> , � .>:'
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<br /> ° 7lransfer of thc Property o�a Benciicial Interest in Borrowcr. II'u I I ur any piu•t��f thr Pruperty ur am�inter�tit � ��`��
<br /> . � . •`,���±. • in it i��old ur tran.fcr�•ed lur if'a bcncficial int�rc��in Borro����r i. .uIJ ur tr.►n.l'crrrd anJ Burr���+•cr i, not a � �
<br /> • •� nawrnl person)without Lender'�prior wrinrn r��rnrnt.Lrnder m,��.ut i�� upii�m. reyuire imm�di.u� payment in ,
<br /> full of all �um,�ccurcd b�• thi�Seruri►}� Intitrumcni. H�►u,�er. thi,��pii�,n.hall nol hc cscrci,r�i b�• I.cndrr if 1�.','�:�,�;� ��
<br /> '� � excttis�i�prohibitrd by fcdrrul laµ a.��f thr date��(thi�Seruriq In,tru nknt. { �:',?:i ,,�:,ti�
<br /> ' . .;,,..
<br /> , , ' • .;.��'.� If l.ender exerci.e. �hi. optian. I.rnder�ball gi�c Hc�rra«rr nrni�c�,f ar.clrratinn. Thr n�,�ic� �hall prin•idr .�,,,
<br /> i •, ' , '�`�;`� a period of nnt Ir�.than �0 d�y from thc Jate the n���ice i.d�li�•rred�►r mail�d a ithin«•hich Burr�,u•rr mu.�pa) �
<br /> � ,1,�,�`:• .,.,t`;:,'
<br /> , all sums seCUrcd h�•thi� Security Instrument It Bornnrrr tail.tu pa� thr�e�um,priur 1u thr e��iration uf thi.
<br /> perioJ.Lcnder muy invokr.�m rrm�die.permittrd hy thi.tirrurit� In.�rurncnt a ithaut furthcr nuticc��r demand ; .'.
<br /> � . ,�; on Bnrmwcr. , .
<br /> , :
<br /> BY SIGNING filil.l)���. li�,rr����rr;��.•r�h:inJ a:�nr� tu thr irrm. and�u�rnant.c�mlainrJ in thi. :1Jju.iahlc
<br /> -;r,-::;�-.—.----:. ftateRider. t:. `
<br /> ,. ♦ ,,'' • , .. . .... . .. . (1CJ�) �/�"MII^ . �l QVN/.1 \dS�1 itiraU r . .
<br /> , ..... ... .... ... .... . ... .... . .µ.m�a�cr O � N��rn�acr
<br /> JAMES MO�.RIS E+UFGESS
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<br /> .......... ..... �Sral► .�.�!}�.':���.,l:��(�.�r�.a.... ... . �tir:il►
<br /> '" -� ....../;;:..'. ..I. ..... .... .. Nutl����¢r � G Nnnn��dr
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<br /> �,�...:. , . � J EANEtN J f] BURGE58
<br /> Farm 31181r6Y�r.,o:. 'n,.•..
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