HomeMy WebLinkAbout1039H. RENEGOTIABLE INTERE3T RATE. For purposes of this
mortqaqs iastrument and the NOT$ secured thereby, the tona
"Renaqotiabla"~in ths title "Raneqotiable Rats M~ortqaqe"
meaas that the intere8t rate is subject to adjuatment
pursuant to ths federal requlations (Section S45.6-4a, Title
12, Code of Federal Requlations). Tha Lender is not required
to barqain with the Borrow~rts) as to the interest rate for
any Renewal Loan Tena.
I. BALLOON PAYMENT. Should borrower exercisa his
option to repay the outstandinq balance due under this
mortgaqe.in full rather thaui renew his loan for an additional
Renewal Loan Term, then and in such event, the final paymeat
due shall be a balloon payment which shall equal the sum of
the last monthly payment due and the outstandinq principal
balance and accrued interest due im~aediately after receipt
of such payaaent.
IN WITNESS WHEREOF, BORROWER 8AS COTED '*HIS RE~IEGOTIABLE
RATE RIDER.
(SrAL)
J. FLA K -
, ( SEAL)
MARY L. F CK
1960 QcC 19 ~' ~ 08
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