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<br /> - (CONDITIONAL W�HT'li0 R�F7NANCB) —
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<br /> , � ., :�L;..:,.�' 'Rii3 BALLOON RIDBR 4 mode thts day tooefleal6 day o[A�rt�1992,ond 4 inoorporeted Into and sdell be damed to ��i6 -
<br /> +� � paaend and wppkment tha Mor�Bap� Deod at Tnut or Deed to Sxuro Dobt(We'Security Inutumant•)ot tbe�wne dAto�iven by �-
<br /> � � ,�,n�- the undasi�aed(tbe"Honower")w securo tha HarrowePt Nota W �
<br /> _ � �~ A850CIA7E3 NA1701VAL MORTGAGE CORPORA170N (the"I.eader')
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<br /> �'`�",.�.`-.,,N'".%��tia;:�, of the rWne dYte wld onverl0�the propaty de1ClibQd iq tho Secudty 1nNrumW1t rOd IoCated iU:
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<br /> �,;�.:�::�:. :a`'� ?A17 ArroM6wd iMlw�1rni, �" '1h�
<br /> �'. .,�., .. ° �'. ... anad Irlwd�NE 68801
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<br /> - �_ . °� `.` ';. j�� 1Ue iatcreu rete etated on tdo Nato is callcd tda"Note Rate" The date of thc Note Is caUed tdc"Note Date." lundentendthe - � � ---
<br /> _ ��;��' Lender may tranefer the Noto,Suudry Lutrument aad tbis Rider. 'ibe Lender or auyone who tekea the Nate,[ha 3a:udty Imtrumen� --
<br />���: �"• , , aad tN4 Rider by traa�fer aad who b eaqtied to raaive payd�eats uador tde Note Is calkd tda"Nnte Holder."
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<br /> , ADDITlO1VAI.COVENA(VTS. In addiUon to the oovenaata and agreemeata b the Secu�ity Insuument, Borcaaver end Lender ,�„r�`-.__�
<br /> _'— . . '_' tuttber coveaeiqt and egrca as foNow�(dapita enyU�fag to tha contrery conWaed in Ihe Secutky Iastromeat or tda Nata} �`..---
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<br /> . � , � � --- 1. CONDI110NAL RI(iHT TO R6FWANCE ---, .
<br />: , At tho matudry docc of the Note aad Secudty Iagtrument(tln"Maturity Date"), 1 will be able to obtah a aew loan("1Yea' � ''_
<br /> , �� I.oan")altd a pcw MatuNty Date of 5kptember 1, 2022, and with an interest rete equal to the"New I.oan[tate'determiaed ia � �
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<br />' '. � aoctxdanca witq SecUon 3 belav i[aN the condttloru provlded in Sectbns 2 and S beiow arc met(the"Condldonal ReBaeacing Optioa). .. . _ �
<br /> ' , r f� If thaae coaditlaos are not met,I uaderatend thet the Note Holder ia uader no obNgadon to re8nenw or modity thc Note�a e�end :;�.: . �
<br /> " the Maturity Date.aad that I wW deve to repay the Nwe froro nry awa►ewuras or 8ad e kader wUUag to lead ma the moaey W roPH!' "�=
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<br /> ' , 2. COND1170N3 TO OP770N
<br /> •• If I want to axrciae t6e Condhioaal ReBnancing Option at meturlry,certatn condidona muat be mec as o[the Mawrky Date.
<br />° ,.�,,:;•;, U:... 7Mae candlqooa ere:(1)I awst etlU be tde awner and occupaat of the PropertY subJect to the SecuNty Instrument(the "Ptopeny")� ,� —
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<br /> ��, (2)I must be currcnt in my moat6ty paymenta and cannot bave been more ehat 30 days lete on a,ry af the 12 echeduted mont6ly __
<br /> .. ' paywepu immediately preoeding the Meludty Date;(3)no Ikna agalnst the Yropetty(e�roepc frn[wces aad epcx:iel as�e�n�s��y'a �'� ,..
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<br /> • due and payeble)ot6er tdaa that ot tdc 5ecurlty Inswment may e�dah,(4)the New Notc Rate cannot be roore than S percentaye pofata �
<br />. above the Note Rate;aad(S)1 muu meke a written request to th�Nole Hoider aa prwided la Section S below. --_-° _
<br />� ' ' 3. C.AI.CUI�TING TtIL�NLVY NOTE RA'TE . --
<br /> , 'ilfc Nea Notc Rate wfll be a 8xed rate of intcrest equal to the Federel Natlonal Martgage AssociaUon's require0 aet ykld for ;�_,;�
<br /> , • � � 30.year Poced rate moRgages subject to a 60�day mandetary delivery cammliment,plub one-half of one percentage point(OS�),roundcd „ r'..
<br /> to the aeareat one�elghth of one percentege point(0.1?59b)(the"New Note Rate"). '[Le required net yleld shaU be the applicabk '� '''
<br /> ` qet yieid in effect on tde datc and time of dey thet the Note Holdcr receives aotice of my election to exercise the Conditionel
<br /> ' �; �' ReBnancing Optbp. Tf thia required net yictd b na available,the Notc Hotder wiU deterndae tbe Nevv Notc Rote by usb8 mroparebk �^_y_ _ _
<br /> J= _�,.�- ,---� tnforn�adon. �.•f"Mr. ..
<br /> 4. CALCULAIING THE NEW PAYMENT AMOUNT �� - -
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<br /> Provlded the Ncw Note Rate as cakulated In SecUon 3 above Is not greater then 5 percentage pointa above the Note Rate and �., 7A ::
<br /> �� " all ot6er conditiona requlred ln Sectlon 2 abovc arc aatis(ied,the Note Ho�der will determine the amoupt of tde monthly paymeat tdat
<br /> (,` , . ' ; wUl be aufSdeat to repay ia full(a)the unpaid principal,plua(b)accrued but unpald interest,plus(c)all ot4er sums I will awe under
<br /> � � the Note and Securiry Inatrument on the Maturity Date(assuming my manthly paymenta then are cunent,as required under Sectlon y'.��•
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<br /> � 2 above),over the rerm of the New Note at the New Nate rate in equal monthly peyments. '[he result of this calculadoa witl be tUe �._�:�:e=
<br /> atnount of my new principal and fnterest payment wery month until the New Note 4s fully puld. �`:,,':•�'
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<br /> ' .. S. EXERCISING THE COND1170NA1.REFINANCING OP'170N � �`:�
<br /> �� ' 7Le Note Holder wfll noUfy me at least 60 calendar days in advance of the Mawdry Date and advlse mc at the principal, _::�,;,,,..
<br /> •• ' accrued but unpaid interest,and aY othcr aums I am e�cpected to owc on the MatuHry Date. 'Il�e Notc Holder abo wiY advLse me that _
<br /> ' . ' I may arerclse the CandiUatal Retinancing Opdon if the candidons in Sectton 2 above are met."Il�e Note Hdder wW pravide ary - °
<br /> , .- " payment record information,together with the name, tit�e and address of the person represcnting the Nute Holder that I must noti[y - __
<br /> .. , !n order to exerc4se the Conditional Retinancing UpUon, If 1 meet the conditions of SccUan 2 above,I may exerclse the Conditional
<br /> , � Reflneudng dpdon by nodfyfng the Nate Hdder no Inter than 4S culcndar days prbr to the Maturity Date. 'Ihe Note Hoider will R
<br /> • . cakulate tha t'ixed Ncw Note Ratc based upon the Fcdcral Nationul Martgagc Ass�ciatlon's applicable publishcd requlred net yield in !"
<br /> � � :j eftect on the date and Ume of day notificaUon is received lry Ihe Note llolder and as cakulated in Section 3 above. 1 wfll then have �y�
<br /> �, 30 ealendar days to provide the Nae Hotder with aceeptehk proof of my requfred cnvnership, accupancy and propeny lien statua. (�
<br /> • Before the Mawriry nAte the Notc Holder will advise mc ot thc new intcres� rate(thc New N�tc Itutc),and new monthly payment C
<br /> amount and a date,time and pluce at which I must appear to sign uny documems r¢quired to wmptete the required refinancing. I
<br /> � • ' underatand the Nae Holder will cherge mc a S2S0 procescfng fec and the costs assocfuted with updating the titk insurance policy,if �
<br /> , ., any. E
<br /> ; ' q�(SI(3NINC3�fiLOW,�OR O :R acccpGS an�agrees to the terma and covennnts contained in this Balloon Rider. j
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<br /> - � _.-- - - i v�,i r� c �� i i i,,v � / lCL 2 . �-� •rLG� � / (.(�C..C.� Scal '
<br />- i �c' r / v (S�al� / t� � �
<br /> SEPH GERAI.D McNE1L •Borrrnvcr MARY N ' cNE1L -��� i
<br /> ' � _l,yca�) (Scal)
<br /> , -Dorcowcr -Borrower
<br /> � ' �Sign Original Unly�
<br /> � � ' MUI:flSTATEi BAI�.00N WUI'.It(Itl�.I�IIdAN(.'H}-.Singlc 1'amily-I�annic Mac lJnlform Imirumcnt
<br /> , I2DIt.BLI.N.MFN Fam 3180 1T189
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