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8. RENEGOTIABLS INTEREST RATE. For purpoaea o! thia
mortqaqs instrumeat and th~ NOT$ secursd thereby, the term
"Reneqotiabl~" in~th~ titls "Reneqotiable Rats Mortqaqe."
meana that th~ inter~at rate is subjsct to adjuatment
pursuant to th~ lederal r~qulations (Ssction 545.6-4a, Title
12, Cod• o! l~ederal R4qulatfona). The Lende= is not required
to barqain with~th~ Borroa~r(s) as to ths interest rate tor
any Renewal Loan Term.
I. BALLOON PAYMENT. Should borrower exerciae hi9
option to repay the outstandinq balance due under this
mortqaqe in full rather than renew hi9 loan for an additional
Renewal Loan Term, then and in auch event, tha final payment
due shall ba a balloon payment which shall equal the sum of
tha last monthly payment due and the outstandinq principal
balance and accrued interest due imtaediately after receipt
of such payment.
IN WITNESS WSEREOF, HORROWER HAS EXECO'1'ED THIS RE:~TEGOTIAHLE
RATE RIDBR.
(SEAL)
STEPNEN M. REOOWAY /`
(SEAL)
THEL G. I2EDOh'AY
. 1981 fE6 -4 P!~ 12~ i I
1ILE0 ANC ~! CUEGCO
~ ST.l.U(:~E' CQt1YTY.f( q. •
AQG~R POITR~lS
~CLERK"CIF:CU~i CL",,q;~
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