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G. BORROWFR'S OP'['!ON TO CUtiVERT
I3orrower may, at Borrow~er's option, modify the repayment terms of the indebtedness secured hereby on the tirst Change
Date. At that time, ~rro~~er may com•ert the Adjustable Rate Luan evidenced by the Note intu a fixed interest rate loan to
be fully repaid in equal monthly payments of prinripal and intere~,t o~~er the remaining term of the toan.
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t N~~iP~~c ••N~[ic_P ~f ('haneec" ~n Rorro~~er pursuant to paragranh 41E) of the Note x~~en prior to the first Change Date
shall also rontain the follow;ng additional information pertaining to Borrow~er's option to convert:
(i) the tired interest rate payable b}~ Borrow•er if Borrower converts into a fixed interest rate loan;
(ii) the amount of Borro~~~er's new~ monthl~~ payment at the fixed rate of interest; and
(iii) a date, not more than I S da~ s t~rom the date the notire is giren, b~• ~~~hirh Borro~~~er must exetute and deliver to Lender
a d~ument in thc form requirc~i by l.ender e~~idenring the moditication of the Note to pro~~ide a fixed interest rate.
1. SFLECTION OF M1XED ItiT~:RF:.ST RATF. AVD MOtiTHI.I' PAYMF.NT ADJUSTMEtiT
Lender shall set the ~i~ed rate o( interect payahle by Borro~cer at a rate identirai to the sum of the Federal Home Loan Mort-
gage Corporation's Required Net 1'ield I~or 60-day deli~~ery of i0 ~~ear, lued rate mortgages available 45 days prior to the
tirst Change Date plus three-eighths ol one pcrcent (.375°'0). If no surh Rcquired Net 1'ield is a~~ailable, Lender will deter-
mine the fixed interest rate b~~ u~ing a com~arable figure. The ne~c iixed intere~t rate will Ix~ome effe~tive on the firsi
Chunge Date if I3orro~~~er rh~~se, tu ron~en to a tixcYl intereu rate.
' Borrower's monthly payments at the ne~~~ ti~ed interest rate ~~•ill begin as of the first monthly pa~•ment after the first Change
Date. The monthly payment ~.~ill be the amount that i5 ne~essary to repa}• in fult the principal BorroH~er is expected to owe
: or. the Change Date in substantiall~~ equal Pa~~ments b~~ tt~e maturit~• date at the fxed interest rate.
, J. BORROWER'S f~:LI~:CTIOti tiOT TO COtiVERT
Borrower must exerute and deli~ er to Lender the document e~•idencing the modification of the Note ~~~ithin the period set in
Lender's notice as pro~ided in pa:agraph H abo~e. If B~rro~~er dces not do this H~ithin thr s{xti itied date, Borrow•er can no
: longer exercise the option to con~~ert. In this ra,e, the terms of E3orro~~~er's Note «i!I rontinue in effect without an~~ change.
~ K. EFFECTIVE:tiF:SS OF PRO~'1!~IOti~
Upon Borro~~er'; deli~erc of~ the e~eruted nu~dili~atiun to the Note, ~aragra~h A ahotie ~ha!I ~case to be effecti~~e.
1~ W'ii~t.. ~~'tif Hr~?F. BurroNer hay e~eculed thi~ C'un.ertible ARM Rider.
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` HAURINE HAUGABOOK
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...........................................................................................(Seal)
FfLE~ - -eorrower
ROGEP, ~ : .
ST. LUCIE '
. . ......................~Seall
~,ynppCQ -Borrower
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ROGER Pu`=::'~;; ~i. fRK FILED a . _ . _~-f ~
ST. IUC~E cau~+~ ROGER ~~i ~~r kK
ST. LUCIE ~~,~.:h; .
gooK 462 Pb~E 1463
~~~K 463 PAGE 48~ ~ 46~ Pa~E 97~
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