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Home My WebLink About2154 2~0. 00..... 1nd ~ i~ ? 1 mu~t ;ign and ;ive the `~te Holder ~n< <~~umenu thz \~te Holdcr ier ot 1..5. ~ . reyuires t.~ efTect the com~ers!un. ~ B I Calculation of Fixed Rate ~ty new, fixed interest rate ~~ill be eyuai to the Federal ~aeional `lortgage Ass~xiatiun's reyuired net ~ield ~i ~~f a dace and time uf day ipecihed by the Vote Holdtr for 1 i) if the original term of this \ott is greater than I~~ears. ?0-~ear nxed rate murtgages covered by applicable 60-day mandatury deliven commitments, plus five-eighths ol one percentage point (0.62~`% rounded to the nearest one-ei~thth of one percentage point (O.12~'~), or (ii) is the original t~rm of this `ote is I~~ears ~r less, t~-~esr tixed rate murtgages covered by applicable 60-day mandatory deli~~ery~ commitmenu. ' plui tive-eigh[hs af une percentage point 10.6_'~"~ rounded to the nearest one-eighth of one percentage point 10. 1. If this required net }ield cannot be determined because the applicable commitments are not available, the `ote Hulder will determine my interest rate by using comparable infurmatiun. ~1~~ new rate calculated under this Section B1 ~~ill not be greater than the ~taximum Rate stated in Section 4( D) abo~•e. 1 C I Vew Pa~•ment :~mount and Efl'ective Date tl ( choose to exercise the <_onversiun Uphon, the vote Holder will determ~ne the amount of the monthl~~ pa}~ment that w•ould be sutfi'icient to repay the unpaid principal I am expected to o~~e on che Conversion Date in full on the macunc~ date at my new hxed interest rate in substantially equal payments. The result of this calculation wi11 be the new ~muunc ol my monthly payment. Beginning with my hrst monthly payment ~fter the Conversion Date, I will pay the new amount as my monthly payment unti) the maturity date. C. TRANSFER OF THE PROPERTY OR BENEF[CIAL I;~TERFST IN BORROWER 1. l; ntil Borrower exercises the Conversion Option under the conditions stated in Section B o: this AdjustablC Rate Rider, t;niform Covenant 17 oi the Security Instrument is amended to read as follows: Tra~sfer of the Property or a Bene6cial lnterest in Borrower. lf all or any part of the Property or am• interest in it is sold ur transferred 1 or iF a benehcial interest in Borrower is sold or transferred and Borrower is not a nawral perwn ? ° wichout Lender's prior written consent, Lender may, at its aption, require immediate payment in full of all sums secured by this Security Instrument. However, this option shal! not be exercised by Lender if exercise is prohibited by federal la«~ as of the date of this Security Instrument. Lender also shall not extrcise this option if: ( a) Borrower causes to be ~ submitted to Lender information required by Lender to evaluate the intended transferee as if a n~w loan were being made j iu thc transiercc; ~nd (b) Lender reasonably determines that Lender's security wiii not be impaired by the loan ~ assumpcion and that the risk of a breach of any covenant or agreement in this Security Instrument is acceptable to Lender. To the extent permitted by applicable law, Lender ma~~ charge a reasonable fee as a condition to Lender's consent tu the luan assumption. Lender also may require the transferee to sign an assumption agreement that is acceptable to Lender and that ob{igates the transferee to keep all the promises and agreements made in the Note and in this Securit~ Instrument. Borrower will continue to be obli~ated under the ~lote and this Security Instrument uniess Lender refeases : Borrower in writing. , If Lender exercises the option to require immediate payment in full. Lender shall eive Borrow~er notice of accelera- tion. The notice shall provide a period of not less than 30 days from the date the notice is delivered ur mailed with~n ~ ~ which Borrower must pa}~ all sums secured by this Securiry Instrument. If Borrower fails to pay these sums pr?ur to ~he ~ expiration of this ptriod, Lender may invoke any remedies permitted by this Security Instrument without turther notice ~ or demand on Borrower. E 2. If Borrower exercises the Conversion Option under the conditions stated in Section B of this .~djustable P.ate ~ Rider, the amendment to l.'niform Covenant 17 af the Security tnstrument contained in Section C 1 atw~~e shall then ~ cease to be in etTect, and the provisions ot l;nitorm Convenant 1? of the Security Instrument shall instead be in erl~ect. ~ follows: ~ Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or an}~ interest in it is ~old or transferred (or if a benehcial interest in Borrower is sold or transferred and Borrower is not ~ natural person ? 5 without Lender's prior writcen consent, Lender may, at its option, require immediate payment in full of all sums secured ~ by this Securiry Instrument. However, this option shall not be exercised by Lender if exercise is prohibited b}~ federa! la« ~ ss of the date of this Security (nstrument. ~ f f Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a peri~d of r.ot less than 30 days from the date the nutice is delivered or mailed within which Borrower must pay all sums ;ecurcd ~ by this Securitv Instrument. If Borrower iails to pay these sums prior to the expiratiu~ of this period. Lender ma~ im ~~A~ t an}~ remedies permitted by this Security Instrument without further notice or demand on Borrower. ~ Br~ Sic~i~c BEi_oti, Borrower sccepts and ~grees to the terms and wvenants contained in this :~djust.~bie R.~i~ ~ Rider. ~ : ' ~ , ~ ~ 1_-~ . ^ ~ ~ .../...1__.~C~l ~~~:C~~ I Seal I ~ Y DAN ~'L E. HUBER - • ~ , ~ ~ ~ ~ ~ . . ~...~...l.-../.:....~~.~~..r-el..~../~...... 1 5~11 1 'I ~ ~ DANIELLE bi. HUBER , _r.--~ -t? ; ' ~ 'y0 JRN 31 P ? :55 I r- -a , ; w ` ; ' _1'; : ~ - 10z266~ gN , . : ; ~ ~ _ ~ . ~ ~ ~ ~ - . ~~a' ~~~U~•~_ X.~;y ~ x ~ o ` r~ ,;n;~ . . ~ \ ~ Li~ ~ a~ A\`/ ~yJ ~ y C 8~~~ 675 PAGE 2~5~ _ . . - - _ ~ _ s~c~~~ ~