HomeMy WebLinkAbout21178. RENEGOTZABLB INTERE3T RATE. For purposee of this
arortqaq• instrument and the NOTB secured thereby, the term
"Reneqotiable" in the title "Rsneqotiable Rate,Mortqaqe"
means that ths interast rata is subject to adjustment
pur~uant to ths fsderal raqulations (Section 545.6-4a, Title
12, Code of Federal Requlations). The Lender ia not raquired
to barqain with the Horrower(s) as to the interest rata for
any Renav~al Loan Term.
i. HALLOON PAYMENT. Should borrower exercise his
option to repay the outstandinq balance due under this
mortqaqe in full rather than renew his loan fbr an additional
Renewal Loan Term, then and in such event, the final payment
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 innaediately after receipt
of such payment.
IN WITNESS WHEREOF, BORROWER
RATE RIDER. ,.,,..
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