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Home My WebLink About0982 • V "1 ; . 6. BORRON'ER'ti RiGHT TO L1~!!T 110\THI.Y PA1'11t~:\"I' (A1 Calculs~~ion of Limited Ya~~ment Unless Sections 6(C) and 6(D) tk.low Nill nut permit mc to do so, ! may rh~~se to limit tne ~muuni ui ~~~j itcN ,-,;c;;,~;;;-, p~~~?nent following the third and each later Interest Ch~nge Date ro the amount I ha~~e b~en psying multiplied by the number 1.075. This amount is caiied the "Limited Payment." tf 1 choose a l.imiled Pa~~ment as m}' monthli payment, 1 must gi~•e the Note Holder notice that I am doiug so at Ieast IS da~~s brforr iui~ first ne~i~ monthl~~ ps~•ment is due. (B) Additions to 11y Unp~id Principal My monthly pa}~ment cuuld be less than the ~muunt uf the interest poRiun of the monthly payment that ~+ould he suiii- cient to repay the unpaid principal I owe at the monthly payment d:~te in full on the maturity date at my current interetit rate in substantially equal payments. If so, each month that the amount of my monthly pa~•ment is less than the interest por- tion, the I~ote Holder ~~iil subtract the amount of my monthly~ pa~~ment from the amaunt of the interest partion and H~ill a~1d the :iifference to r.my unpaid principal. The Note Holder will alsa add interest on the amount of this difference to my unpaid principal each month. The interest rate on the interest added t~ principal will tx: thc rate required by Section 2 or 4(A) abo~•e. (C) Limit on Unpaid Principal; lncreased ~lonthly Payment M}~ unpaid principal can ne~~er exceed a maximum amount eyual to one hundred twenty-fi~~e percent (125 ) of the prinripal amount I originally borrowed. My unpaid principal could exceed that maximum amount ii I pa} a Limited Payment. if so, c~n the date that my paying a Limited Pa~~ment ~~~ould cause me to exceed that limit, 1 will instead begin paying a ne~~ monthly payment untii the next Interest Change Date. The neu• monthl~~ p;~yment will be in an amount H•hieh would be suffi- cient to repa}~ my then unpaid principal balance in full on the maturi:;~ date at my ;:urrent ~nterest rate in substan[ialiy ryuai p~~'ments. (D} Final ~ionthiy Pa~~ments Beginning ~•ith the first monthl~~ pa}ment atter the tinal Change Uate. I w~ill pa~• the Full Pa}'ment as my monthly pa)~ment. 7. NOTICE OF CHANGES I The Note Holder will mail or deli~~er to ?ne a notire of any changes in my interest rate and in the amount of m~~ monthl~ p3~ ment betore the eftective date of any rhange. The nutice w~iU include information reyuired b~~ lati~ to be given me and also the title and telephone numtxr of a person whu H~ill answ•er any yuestion 1 may ha~~e regarding the notice. B. TRAtiS~~R OF THE PROPERTY OR A BE\EFICIAL i\T~REST I;~ BORRU~!'~K Uniform Cuvenant 17 of the Securit~~ Instrument is amended to read as iollows: Transfer of the Propert~• or a Beneficial Interest in BorroH~er. If all .~r an~~ part of the Property or any interest in it is sold or transferred (or if a bene~cial interest in Barrower is solct or transferred and Borrower is not a natural personl i ~nhout Lender's prior H~ritten conse~t, Lender ma}~, at its option, require immediate pa~~ment in full of all sums secured I b} this Security Instrument. However, this option ;hall not be exercised bj~ Lender if exercise is prohibited b~~ federal law as of the date of this Security Instrument. LeRder also shall not exercise this option if: (a) Borrower causes to be submitted tc~ Lc:nuer iuiv~~~~,~i~~~ ~~y~;r~.; r.~:.- :^*.~nded transferee ~f a new- l~an were t~ing made to the transfere;.; and (b) Lender reasonably determines that Lender's securit}' w~ill not be impaired by the laan assumption and that the risk uf a breach of any crnenant or agreement in this Security Instrument is acceptabie to Lender. To the extent permitted by applirabfe law~. Le;nder may charge a reasonable fee as a condition to Lender's cansent to the loan assumption. I.ender ma}~ also require the transferee ro sign an assumption agreement that is acceptable to I,ender and that oblieates the transferee to keep all the promises and agreements made in ihe ?~bte and in this Securit~~ Instrument. &7rroa~er will continue to be obligated under che Note and this Security Instrument ur~less Lender releases Borrow~er in writing. If Lender exercises the option to require immediate pa~•ment ~n tul1. 1.enaer snaii gi~ e iwrruwc~ a~~~:;,;;:.i:, The notice shall pro~ ide a period of not less than 30 days from the date the notice is deli~~ered or mailed within w~hirh Bar- ruuer must pa~ all s~ms secured b~ this Securit~ lnswment. If Borrow~er fail, to pa~ th~ce sums prior to the expiration ~~f this periai, Lender ma} imoke am~ remediei permitted h~ thi~ Securit~ Instrument w•ithout further noti~e or demand on , Sorrow~er. ; ; Bl' SIG\I':\G BELO~L'. Burro~~er acrepts and agree: t~~ the term. and co~enant~ ~ontained in this Graduated Paymznt Rider. , . ' i i , ~i ~lG•ti ~7-s ~ L1J1 Yc f.+7t~; . ~Scal~ (Seall ?ATHUM MANIPARNRA A e`"=iie~ -~~~~e~ _ _ ~Seail - ISeal) go.; ov.A• gor,o„ve. ISI~q (7r1.E:~1t7~ Un111 ~ SE,P 28 P 3 :56 ~ `~v F~~~~~~~~~ RG~~^ _ c 7 ~ ~ ' . ~ ~ Ei'~4'705 ~o~riic ~~c~ ~ . . , . ~ ,