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Home My WebLink About0990 c 1 i ~_l.~ 6. BORRON'ER'S RIGHT TO I.I~i1T ~tOtiTH1.1' PAl'~1E\"1' (A) Calculation of l.imited Pa~ment Unles~ Sectiuns 6(C1 and 6(D) hefuw will nut pc;rmit m~ to ~iu so, 1 m;~y rh~w,e tu limit th~ ~nx~um uf m~ new• m~mthl} payment following the thirJ and ~a~h later Interest Change Dute to the :~mount 1 ha~~c b~:rn psying multiplied by the nwnher 1.075. This amount is called the "Limited Payment." If 1 choose a Limited Pa~~ment as my month~~~ payment, 1 must gi~•e the Note Nolder notice ths~t 1 am doing so at least 15 days be[ore my first neN• monthly pa~~ment is due. (B) Additions to 1ty Unpaid Principal My monthly pa~~ment could be less than the amount of the interest portion ui the munthl~~ payment that N~~~uld he ,uCti- rient to rep:iy the unpaid prinripal I ov?~e at the manthly payment date in fuU on the maturity date at m~~ current interetit rate ~n substantially~ equal payments. lf so, each month that the amount of my monthl}~ payment is less th3n the interest por- tiun, the Note Holder will subtract the amuunt of my monthly pa~~ment from the amount of the interest portion and will add the di;~erence to my unpaid principal. The hote Holder will also add interest an the amount of this difference to my unpaid ~ principal each month. The interest rate on the interest added to principal will tk the rate reyuired by Sertiun 2 or -i(A) atx~re. . (C) Limit on Unpaid Principal; Increased Atonthty Payment 111~~ unpaid principal can never exceed a maximum amount equal to one hundred tw~enty-tive percent (125 `,xe ) of the principal amount I originally borroN~ed. My unpaid principai couid exceed that maximum amount if I pay a Limited Payment. lf so, on the date that m}~ paying a Limited Payment w~~!~Id cause me ro exceed that limit, 1 will instead t~gin Paying a new~ monthly pa~~ment until the next Interest Change Gate. i ne new monthl~~ pa~~ment a~ill be in an amuunt «~hich w•ould be suffi- rient to repa}~ my thrn unpaid principal balance in full on the maturit~~ date ~t m} rurrent interest rate in substanti;~lly ~yuai payments. (D) Final ilionthl~• Pa~~ments Beginning with the tirst monthly pa~~ment after the tinal Change Date. I w~ill pay the Full Payment a~ m~~ munthl}' p:~}~ment. 7, tiOTICE OF CHANGES Thc Note Holder will mail or deliver to me a notice of any chang~s in n~~~ interest rate and in the amount uf my monthl~~ pa~ment tkfore the effective date of any change. The nutice ~~~ill include informatiun reyuired by la«• to tx: gi~~en me anci also the title and telephone number of a person w~ho will answ~er ani~ yuestion I ma}~ ha~~e regarding the notire. B. TRANSFER OF THE PROPERTI' OR A SEtiEFICIAL 1\TEREST Iti BORRO~~~ER Uniform Covenant 17 of the SecuritV Instrument is amended to read as follu~~s: Transfer of the Propert~• or a Beneficial Interest in Borrow~er. If all or am part ot the Property or an}• interest in it i~: sold ~~r transferred (or if a tx:neficial interest in Borrower is wld or transferred and Borrower is not a natural person) w ithout Lender's prior written consent, Ixnder may, at its uption. reyuire immediate payment in full of all suins secured b}~ this Security Instrument. How~e~~er, this option shall not be exercised by Lender if erercise is prohibited by federal la~~ as of the date of this Securitv Instrument. Lender alsi; s!:aL e~ercise this option if: (a) BorroN•er causes ro be submitted to L.ender information required b~~ I.ender to evaluate the intended transferee as if a ne~~ loan were being made to the transferee: and (b) Lender reasonably decermines that Lender's securit~~ will not be im~aired by the loan assumption and that the risk uf a breach of am rovenant or agreement in this Security Instrument is acccptable to Lender. To the extent permitted by applicable law~, L.ender may charge a reasonahle fee as a condition to Lender's consent to the loan assumption. Lcnder ma~ also require the transferee to sign an ass~mption agreement that is acreptable ro Lender and that obligates the transferee ro keep all the promises and agreements made in the Note and in this Securit}~ Instrument. I i Burrow~r w~ill continue to be c~bligated under the Note and this Sec:urit~~ Instru~~~c~t unless L.rder releases Borrow~er in writing. If I.ender exercises the option to require immediate pa~~ment in full. Lender shall gi~•e Borrower notice of acceleration. The notire shall pru~~ide a perioci of not less than 30 da~s from the date the nutice is deli~•ered or mailed ~~ithin w•hich &~r- i ru~.er mu.t pay all ,ums secured b~ this Security Instrument. If &+rruwer fails to pa~~ these ,ums priur to the expiration 's of this ~rioci. Lender ma1' in~~~ke am remedies permitted b~ this Seruritt~ lnstrument w~ithout funher notice or demand on i Borro~~ er. : - Bl' SIGti(~;G BELO«'. Borru~~~er arrepts an~i agree: to the terms snd ce~~en~nts rt~ntained in thi~ Graduated Pa}~ment s Ri~l~ r. ~ ~ i . ~ ~ ' ~ ` t ~ ~ /L ~ (Seai) ~ r,'ji~~L.{..tl-' ~~~j,~i, ~ ~.~~-fl~~~t (Seail ~ - a~.~;,~z, e~~~~2, g ANDREW M. WILLIAMS 'riYRTL S. 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