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8. RENEGOTIABLE INTEREST RATE. For purposes of this
nwrtqaqe instrwaent and the NOTE aecured thereby, the tesm
"Reneqotiabla" in the title "Raneqotia.ble Rate Mortqaqe"
means that the interest rate is~subjact to adjustment
pursuant to the federal requla~ions (Section 545.6-4a, Title
12, Coda of Federal Requlations). The Lender is not required
to barqain with the Borrower(s) as to the interast rate for
any Renewal Loan Term.
~ I. BALLOON PAYMENT. Should borrower exercise his
option to repay the outstandinq balance due under this
mortqaqe in full rather than renew his loan for 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 immediately after receipt
of such payment. ~
IN WITNESS WHEREOF, BORROWER_ H~I.S EXECU'~ED '!'HIS RE~IEGOTIABLE
RATE RIDER.
~ ~
~" - ( SEAL)
EDWARD l. 1•'ORTN
( SEAL)
t
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V , -- - ^_ - -- - . '_ ~. - ~ 1961 JAy I 5 A.~`, iI~ 48
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- __- ------ RUGERPOITRAS
~ _. _ ~~` CIERK CIR~WT C~~1~ iQ
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513'75,~
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~CS -6 9
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g~~346 PAGE~,c)~~
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