HomeMy WebLinkAbout0831H. RENEGOTIAHLE INTEREST RATE. For purposes ot this
mortqaqe instrument and the NOT$ secured thereby, the tena
"Reneqotiable" in the titls "Reaeqotiable Rate Mortqaqe"
meaas~that the interest rate is subject to adjustment
pursuarit to th~ federal requlationa (Saction 545.6-4a, Title
12, Code ot Federal Requlationa). The Lender is not required
to barqain with the Borrower(s) as to the interest rate for
any Renewal Loan Term.
~ I. BALLOON PAYMENT. Should borrower exercise his
option to repay the outstandinq balance due under this
mo~tqage in full rather than renew his loars for an additional
Renewal Loan Term, then and in such event, the final payment
due ahall be a balloon payiaent which shall equal the sun- of
the last monthly payment-due and the outstandinq principal
balance and accrued interest due immediately after receipt
of such payment.
IN WITNESS WSEREOF, BORR~WER HAS EXECOTED '!'HIS RE~IEGOTIABLE
RATE RIDER. -
. /s/ Alva D. Heneh~~ Jr.
ALVA ~. NCNEHA~, JR.
/s/ Patricia B. Heneha~
PATR I C i A (3. IaEkEHAN
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