Laserfiche WebLink
��������� <br />BALLOON RIDER <br />(CONDITIONAL RIGHT TO REFINANCE) <br />THIS BALLOON RIDER is made this lst day of March 2011 <br />and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed <br />of Trust, or Security Deed (the "Security Instrument") of the same date given by the <br />undersigned ("Borrower") to secure Borrower's Note to EQUITABLE BANK <br />("Lender") of the same date and covering the property described in the Security Instrument <br />and located at: 308 Campbel l Ave <br />Doniphan, NE 68832 <br />[Property Address] <br />The interest rate stated on the Note is called the "Note Rate." The date of the Note is <br />called the "Note Date." I understand Lender may transfer the Note, Security Instrument, and <br />this Rider. Lender or anyone who takes the Note, the Security Instrument, and this Rider by <br />transfer and who is entitled to receive payments under the Note is called the "Note Holder." <br />ADDITIONAL COVENANTS. In addition to the covenants and agreements in the Security <br />Instrument, Borrower and Lender further covenant and agree as follows (despite anything to <br />the contrary contained in the Security Instrument or the Note): <br />1. CONDtTIONAL RIGHT TO REFINANCE <br />At the Maturity Date of the Note and Security Instrument (the "Maturity Date"), I will be <br />able to obtain a new loan ("New Loan") with a new Maturity Date of March 01, 2021 <br />and with an interest rate equal to the "New Note Rate" determined in accordance with <br />Section 3 below if all the conditions provided in Section 2 and 5 beiow are met (the <br />"Conditional Refinancing Option"). If those conditions are not met, I understand that the Note <br />Hofder is under no obligation to refinance or modifiy the Note, or to extend the Maturity Date, <br />and that I w ill have to repay the Note from my ow n resources or find a lender w illing to lend <br />me the money to repay the Note. <br />2. CONDITIONS TO OPTION <br />If I want to exercise the Conditional Refinancing Option at maturity, certain conditions <br />must be met as of the Maturity Date. These conditions are: (a) I must still be the owner of the <br />property subject to the Security Instrument (the "Property"); (b) I must be current in my <br />11-01-000018 <br />MULTISTATE BALLOON RIDER- Single Family - Fannie Mae Uniform Instrument <br />Form 3180 1 /01 (rev. 9/01) <br />�-875R (0809) � <br />Page 1 of 3 Initials: �_ <br />VMP Mortgage Solutions, Inc. <br />(800)521-7291 <br />