|
��-_. :: � �y.�;�..,�..:..., _ _
<br />- �":�`s -,...f_�:��t Mbia: .. „ ' ___- _�--—
<br /> � �- ,�i ., - . . _�,'�
<br /> .�� . ,
<br /> � . . . » �
<br /> .
<br /> .. �. ,,.
<br /> �
<br /> � __.�._
<br /> 1 .
<br /> . /
<br /> - .. �::�:�� : -_. r
<br /> ::���- 9�- _
<br /> -� . 106SSi
<br /> lf I want toexarciac tfno Canversion Option.l must t irst meet certain conditions.Thosc conditiona nre that:(111 must
<br /> give thc Note Holdernwice tluit 1 want to do ao:(ii1 on the Conve�ian Dc�e,I must not be in defeult under the Noto arlhe
<br /> -- - �curity 3nsteument;(i{i>by a d�te specified by the i�:ate Holeler. !mu�t pay the Nalr Halder n cenversian fee of U.S. `-
<br /> ' ���x S 100.00 ;and tiv)1 must sign and�ivc the Note Halder any dacuments►the Note Holder
<br /> ,.d�. requires to efFect the convorcion.
<br /> .... �
<br /> �.... .. ._....._ - ___ lB)C�knl�tlon otFlxcd R�te
<br /> ~ My new. fixed interest rate will F+e equal to the Federal Nutional Mortguge Assnciation's rcquired net yield
<br /> � as of a date wid dme of day spccifed by the Note Holder far li)if the orlginal term af this Nate is greAter than IS
<br /> ����a��ai�.iwi .-
<br /> yeurs,30-year fixed rute martgugeR covered by applicuble 60-dny mundntary delivery commitments. plus five- -
<br /> �� eighths of one percenlage point(0.625�,),rounded to the neorest one-eighth of anc percentage point(0.12596�or
<br /> ��'�`-��-' (fi)if the originul term of this Note is IS yenrs or less, IS-year fixed�ate mortgages covered by upplicable 60-doy
<br /> ��.s"`�*q"qa.
<br /> ��•�:�;;,;;,;;;; mundatory delivcry cammitments,pluK five-eighths of one percentage point 10.6259fn),rounded to the nearest
<br /> `i��� one-eighth of ane percentage paint�Q.1259b). If this required net yield cunnat 6e determined becpu�e the eppli-
<br /> *�[u�^�_'��
<br /> a'�''�='--�F-- �� cable commitments are not avniluble, the Note Holder will dettrmine my interest rate by using compbrable
<br /> �:�� information.MynewratecalaulatedunderthisSecuonS(B)willnotbegreaterthantheMwcimumRutestatedinSoctfon
<br /> ����.�k��� "::`.-�°�-� 4(D)above. MY INTEREBT RpTE WILL NEVER HE OREATER THAN 11.500 PERCENT.
<br /> ,�,�,�
<br /> y�!y...�.riJ�;c��:,y •
<br /> �i.��.,4..:1�.J.�
<br /> �� (C)1Vew Paymwt Amouat qnd EtkcUve Date
<br /> =L�.::��„�.�,i�:",¢�� If i choa�e to exercise the Conversion Op�ion,the Note Holder wiU determine thc umuunt of thQ monthly - -
<br /> - �;,: .,�. : .
<br /> i T,�;,�;��,i„„.�;,�;,�,•• payment that would be sufficient to repny the unpaid principal I am expected to owe on the Conversion Date in
<br /> , full on the maturity date at my new fixed interest rute in substantially equal paymcnts. The result af this calcu-
<br /> a� � . `� ` lation will be the new amaunt of my monthly pnymcnt. Beginning with my first monthly payment after tbe
<br /> �`'rr����' �'` '• Conversion Date.l will pay the new umount as my monthly payment until the Maturity date.
<br /> � ac -�
<br />� ��; ����;;�'�+.:�� C.1'RANSFER OF THE PROPERTY OR A BENEFICIA4INTERFST!N BORROWER
<br /> — �"''�"°" '" � I. Until Borrawer exercises the Conve�sion Option under the conditions scAted in Section H of this Adjust-
<br /> "' �` '�S; able Rate Rider. Uniform Covenant 17 of the Security Instrument is emended to reud ns fotlows:
<br /> . . 7�asfer of the Property or A Benei7cial laterest in Borrower.lf pll or uny pnrt of the Property or nny Intcrest
<br /> ` .�n4::•��:.x....:�,:.;�' in it is sold or transferred (or if a beneficiul interest in Borrower is sold nr trnnsferred the Borrower is not a
<br /> � � 'd4i"" "', ' nptural persan) without Lender's prior written consent. Lender m�►y,at its option,require immedinte pAyment in —
<br /> "'_ " ' full of all sums secured by this Security Instrument. However,this option shnll not be exercised by Lender if
<br /> -,� �... exercise is prohibited by federal luw us of the date of this Security Instrument. Lender also shall not exercise this
<br /> � '�la' optio�if:(n)Borrower cnuses to be submitted to Lender inforrnntion required by Lender to evAluute the intended
<br /> --�� �°"` . transferee as ff n new loan were bei��g mnde to the trs►nsferee; und(b)Lender reASOnubly determines that Lend-
<br /> �_� � � ' ;, er's security will nat be impaired by the loan nssumption and thut the risk of a breuch of any covenunt or
<br /> --� -�„��. . •. �Y. ' agreement in this Security Instrument is ucceptable to Lender.
<br /> ,.�, , • r,;'-t To the extend permitted by applicablc law,Lender muy charge a reasonable fee us a condition to Lender's
<br />_T- consent to the Inun assumption. [.ender ulso mny require the transferce to�ign an Assumption agreement thut is
<br /> �' •• � acceptable to Lender und that obligutes the trnn�feree to keep all the promises und agreements mode in the Note
<br />-` ' ., nnd in this Security Instrument. Borrower will continue tu be ablignted under the Note and this Security Instru-
<br />_.n , 11
<br />- �'�� f, ment unless lender relenses Borrower in writing. _
<br /> �``� If Lenderexercises the option to require immediute payment in full, Lender shull give Borrower notice of ���-
<br /> a � �� � � acceleration. The notice shall provide a period�f not less thun 30 dnys from the Jute the notice is delivered or �-
<br /> ..,., • �.
<br />_-_�..-' - m�iled within whtch Borrower must puy nll sum�secured by this Security Imtrument. If Borrower fAils to pay
<br />:�. � '� � these sums prior to the expiration of this period.Lender muy invoke uny remedies permitted by this Security
<br />- ,'� �� �� Instrument wi�hout further notice or demand on Borrower. __
<br /> -�� .,:,,. �:
<br /> �� � 2. If Borrower exercises the Convenion Option under �he conditions stated in Sectian B of this Adjustuble ��°..
<br />,� a';.� �, Rs+te Rider. the nmendment of Uniform Covenant 17 of thr Security Instrument contained in Section C I above `�`-
<br /> ,.�'';� shall then ceuse to be in effect, and the provisions of Uniform Covenant 17 of the Security Instrument shall �I ��
<br /> �� �'� ', � insteud be in effect,as follows: --
<br />��. , . •
<br />�� , „' 'Pransfer of the Property or a Bencficial lnterest In Borrower.If ull or any part of the Property or any interes� .
<br /> � .� �� „ , in it is sold or trunsferred (or if a brnefiriul interest in Bnrruwrr is.uld or tr�n+fcrred und Borrower is not a F
<br /> C • naturul personl withnut Lender's• prior written ron,ent, Lcnder muy.A�its��pti��n,require immedia�e pa��ment in f
<br /> " full of all sums secured by this Srru�iry Intitrument. Howc�•rr,this option +hall not be exerci�ed by Lender if
<br /> c � exercise is prohibited by federul law a.of the date i�f thi.Security In.rrument.
<br /> „ ' If Lender e!crrcises thi�option. Lender�hall gi��r Horrowrr n��tice�f,iccelrratinn. Thr notice .hall proaide �
<br />- � �. n period of not less thun 30 day�fmm thr dute the noticr i.deli�ered��r maileJ u•ithin a�hirh Borrower mu�t pay
<br /> e all sums secured by thi,Security Instrument. II' Burruwer fail.t��pay thr.e �um+prinr to the rxpir�ti�►n ot'thi� k
<br /> ;; period, Lender may invoke any remedirs permittcJ by�hi. Securit�•In+trument w•ithout further noti�r or demand
<br /> � • on Borrower. �
<br /> -�--- tlV CIl11UIN/1 O[:1(1W R..rr..u,.,. •, •.,.��. •�nJ •�ur...+.f.�16..I..rm.:m�l rna.•n:�nh rnntalnP��Itt 1{fl� Adiuct:�hlr i _ .
<br /> , .
<br /> . _ �-__.__ _--_.__ -.= v. .i.v.....v ........... ..........�. ..�' Y .. ....�.-r "..... ..._ .�.... _.._ '. "'_"' ' '......_.. ... ... � .
<br /> ' _ � Rute Rider. �
<br /> �
<br /> . {
<br /> � ............ . ...... .... ............... . ISt:lll �j' ��, i�rl� '
<br /> Nurr����rr N�.rrnu�r '
<br /> . . �
<br /> k:ENNE TH M M'ARMANN •
<br /> . � � „nty ............. . .... ... ................... . 11C:11) . .�XM/R�7(.� ...'."!••..�G�!m'U!'Y/L.J.... .. (SC:111 �
<br /> " ' Notrnwrr Hurruw�r
<br /> � . AFTER RECORDING REYURN TO: ��ANrv M i�:AFiMAIVN
<br /> � � Nawest MorMcn�,, Ifl�. Foren�fl�l��9ry,.,<.:••,:,.,,...
<br /> � , CU^tonu:r S�r�:.-r I��n Ur�•��i,�rnt�!�nn � �
<br /> � �:?CO N;id�ti��st E�r.�:•.; �: •_•r
<br /> ,. er;n IUa���ue�ttr A..� ;; ,
<br /> ' �.��nit. .i;`��li; 11i� ,��, ,
<br /> . .•,
<br /> � i • �-
<br />
|