HomeMy WebLinkAbout0930 H. RENEGOTZABLE AiTEREST RATE. For pur}~oses cf ~
mortqaqa instrumaat and the y0~'E sacured t~ere~y, ~e -~er.n
"ReneqOtiable" in ths titla "ReaeqOtiable Rate t~artg~a~e'"
means that the interast rate is subject to ac~~u~ent
pursuant to the federal =equlations (Saction ~43.~-da, '"`.~.;~-1-e
12 , Code of Federal Requlations The Lander is nvt ~ui..,-~d
to barqain with the Horrvwer(s) as to the iaterast ~r~ ~
any Reaawal Loaa Term.
I. BALLOON PAYI~NT. Should borroaer exarcise ~
optioa to repay the outstandinq balance due undar ~
mortqaqe in full rather than =enew his , loan ior _~n 'i- ~
Reneaal Loan Term, then and in such eveat, the f~al ~a_p~er~
due shall be a balloon payment which shall equal-~e ~n ~
the last monthly payment due and the outstanding ~ria~i~a1
balance and acc=ued interest due iamtediately after
of such payment.
IN WITNESS W$EsZEOF, BORROWER SA5 ~CU'?'~.,.D "_'Si~ .
t'tA~' RZDER.
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PATRICIa A. LUGARA
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