HomeMy WebLinkAbout0947 M~' new, tixc~l inlefCtit ratc NIII hc Cyual l~~ thC hctl~rel t1nlnC Lu;~n thung~ge <<~rEx?r:,uun. rcyuirru nr~ )'iew
u! a ~1ate anJ time ut~ day~ ~Exc~tied hy the Nutr HoWrr ti~r (i1 if the uriginal t~rn~ uf thi~ Note i~ greeter th~n IS
~r~n. 30-~rar tixed r~tr murtgagr, crnrrc~ t~ applir~hle f?0-~a} m~nJatury deli~•~rp cumm~tment~, plu~ three-ei~hth~ ~
~~f une ~eRC~ll:igC (x?1SU (O i75~41. ur I~il if th~ urigin:~l tcrm ~~(thi~ N~i[e i~ IS )ear~ ur le~~, 1S-y~ar fixe~ r.~te murtgage~
c~?~errd tn• applirahle 60-day m:~ndatar~ ~rGv~r~ rununitmentti. ~Iw thre~-eighth~ unc prrcrntwge ~x?int ((1.37S~k
If thi, rryuir~d nrt yield rann~~t t~e Jeternunrd he~au~c the appl~rahle r~?mnutment~ ~re ~c?t av:?~lable, the Nute Holder
uill determine m~ intrrest rate hy u.inK rurnpar~ble ioti?rmati~zn. ti1y ncw ratr ralrut:~te~ under thi~ Sect~<>n SIA) will `
nut tk gre~ter than the !~1a+cimum R:iti ,tated in Sertiun ~i(I)1 ahu~~e
(t') \ew P~~ment :~mount and Fffecti~e Date ~
If ! ~h~x~u [u ~xer~i~r thr C~,mrr.u~n Opuun. the N~~tr H~~I~lrr Hill ~letcrnunr the anwum ui thc rn<~nthl~ pa}ment ~
th~t HuuW be ~ufticient ti~ repay the unpaiJ prin~~pal I am rtiEnrtr~l tu ~rwc ~~n thr Cum~rr.iun D3tc in full on the mawri- ~
n Jate at my new iixrd ~ntrre,t rat~ in ~uh~t:~ntiall~ eyual pa~ mrnt. 'I'he rr.ult u( thi~ ralrulati~m will he the new anx~unt
uf m~ m~mthl~~ pa~ment. Beginning ~rth m~• lir~t m~mthl~~ ~a~ment aticr the ('c~m~rrti~?n f)ate. I will p~~~ the new~ amount ~
a~ m} m~mthl~ pa~ ment until thc maturitv J~tc.
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TRAtiSFER OF THE PROPERTl' OR A BE1EF1('IAL ItiTERFtiT 11 KORRON'ER t
I. Until B~~rrcr+er exerri.e~ the C~~mer.wn Opti~m un~irr the c~~nd~u~~m ~wtcd in Sertiun B uf thi~ AdJu~~hle R:,te
R~Jer. l'niti~rm C~~~~rnant 17 c,f the Srrunt~ In.trument i, ~mrncir~l tu re:~d a~ ti~ll~r~~:
Traa~fer ot the Pn?pert~ or a Krneficial Inten~t in BorroHer. If all ~~r am part ~~f the Pruperty ur an~ ~ntere~t
in it is ~~?IJ ~?r tran~ferre~l 1~?r if a h~neticial intrre.t in B~+rr~~~~rr i..~~1~f ~~r tran,terred and Ac~rr~~er i, nat a naturel
person) u ith<~ut l.ender'ti priur w~ntten am~ent, L~n~i~r m~~, at it. ~~~h~~n, reyuire ~mmrJiate pa~ ment ~n full ui~ all wmti
.ecured tn thi, Secunt~ In~trumcnt. Huur~~r, thi, ~~pU~~n .hall n~~t tk crrrri.ed hy lxn~ier if rxrrr~~e iti prohibiteJ
M feJeral la~ a~ ~?i the Jate ~~f th~. Secunt~ In,trumrnt. I.~n~)rr al,~~ ,hall n~?t ~xer~i~e thi~ epti~m if: ia) &~rnn~er
cau~e~ t~? he ,uhmitteJ tu l.cnJer inti+rmau~m r~yuire~f hc t.rn~i~r t~? ~~aluate the intrnJed trsn.ieree ati if a ne~ loan
werc being made to the tran,terc~; and Ih) Lender re~.un~hl~ ~etrrm~ne. that Ixndrr'. .ecunty u ill not be impaised
t~y thr loan a.tiumpuun and th:~t the n~k uf ~ hjea~h uf am ~~nrn~m ur agrrement in th~, Serurit} In~trument iti acrep-
~ahle co Lender. ~int American Tiffe Ccmpany ~f St Luqg, ~p~
Ti~ thc r~trnt permitteei M appl~rahlr laN, L~rkirr ma~ rh.~r~~r a rca~~~n~hle tre a~ a rtmditi~m a~ l.ender'~ ronsent
tu the lu:,n ~~tiumpuun. Lrn~irr n~a~ :,I,~? r~ywrr ~hr tran.r~•r~r t~~ ~izn an ~.~umpuun agrrrrnent thet i~ arc~ptahle tu
Lender and that ~?bligatr. the tramferre t~~ kerp a11 thr prun~i.~. .~n.f a~rermrnt, ma~e in the Nute an~i ~n thit Serurit~
In,trument. B~rn»~er will c~?nhnur tu hr ~~hligateJ unJer the '~~~?e an~i thi. Secuntv Imtrumr~t unlr.ti LenJer release~
&~rrc?~cer in wnting.
If LrnJer rxerri~e, thr ~r~ti~~n tu rryuire inimr~~atr pa} mc~~t in tuii. LrnJer ,hal! ~i~c B~~rnn~~r n.m~e uf ar~eler:.-
~iun. The n~ih~e ~h~ll pr~nt.le a Fxn~K1 ~,i nut Ir., than il) J,i~. tn~m thc~ ~late thr nutice i~ ~lrli~err~i c~r maile~ Kithin
whirh &~rnw~er mu~t ps~ :~II wm. ~r~ure~i h~ thi. Srcunt~ In.trument. If &~rn?urr fail~ tc~ pa} th~~e .um~ prie?r ta
the rxpir~n~m uf thi. pen~Kl. Lrn~irr nr.~~ im~~ke sm rrnir~h~~ ~~rmut~J M thi. Serunt} Imtrument Hithuut further
~ ne~t~re ~>r demand ~m B~~rnn+er ~
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If 8~~rr~+uer ctrrci.c~ thr ('~m~er~irn (1~n~+n unJrr thr ~~~n~l~tiun..tsted in Sertu?n B uf thi, :~Jju~tahle fLite
Rielrr, the :~men~lment i~~ l'nifi~rm (~rnenant 17 r~f th~• Sr~ur~t~ in.trument c+mtainr~f ~n Se~_uun CI atk~~e ~h~ll ihen
~ rcatie t~i be in etfect. ~n~i thr prrni~i~~n~ ~~t l`n~t~~rm C'+?~~nant i% ~~f th~ Serurit~ (ntitrument .fiall in~te:~d he in effe~t.
a~ ti~ll+w?ti:
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i 'Transfer of the Propert~ or a tieneficial Interest in Korrnwer. lf all ~~r an~ part ~~f the Pn~pem ~~r am interest
in it ,cild ur tramferre~i ~~~r if ~ tx~nrfi~i:~l intrrctit in f3~~rr~~urr ,ulE! ~~r tr~mferred ;~nJ K+~rruwcr i~ nvt a naturs!
~ ~r.~m? with~?ut Lcn~ier'~ pnur W ntten r~~mcnt. l.cnelrr n~:,~.. .,t ih ~,rti~m. r~ywre imnxcliatr pa~noent in fulf nf ~II .um. ~
~ .z~ure~i tn thiti S~cunt} In~trumrnt. H~»re~~r, thi~ ~~piwn ~h.ili rn~t he ex~rr~.eJ tn Len~ler ~f etcri~tie ~ti prc~hib~teJ
~ hti federal law a~ i~f the ~iate ~~f thi. Setcurit~ ln.trumcnt
; if L~n~er r.~erci,e~ thn ~?pUun. I.cn~fer ~hatl Ki~e &~rr~n~rr nuti~< <~f acielrrau~m. The nu[i~~ .hall pnn~de a pcn~~
; ~~i nut IL~~ th~n 3O frcm~ the ~late ti~e nuti~r i~ d~li~rrr~1 urin.ulr~l Huh~n Hhirh &?rnn?er mu,t p~~ all wm~ >e~~ureJ
~ h~ thi~ Se~unt~ Imtrumem. (f &?rn~u~~r fail, a~ pa} thr.e wni~ ~n~~r tu the etpiran~m ~~f thiti pen~xl, LenJer m~~ im~~ke '
a~~ ~rme~fie` prrm~tte~1 tn thi~ Secur~t} In~wrnrnt wrth~~ut turther nuuce ~~r den~nci ~m &~rr~n+~er.
Ri Su;`i~c~ BEi ~M. &~rr~n~er 3~~eptti ~n~i agr~~ti a~ the t• ;~rx3 «nensnt~ c~mtain~J in thi~ A~f~u.wble Rate Rider.
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Uenis M. Levesq e ~~+~~TMC~
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1~,.~ ~ 200 . f ~ . ~lJ~~t~i.~.~' . . . . . . . . . ISeal?
F; i~... F~ ;~y:,p Phyl s A. Levesque G" t~.,<<,~.~~
: c~~. t~ 9U5772
'~8 26 A~t :23
s,~ ~ c~o . So~K 596 Y~~E 947
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