Loan Modification And Extension Agreement - Minnesota Housing (Page 2 of 4) in pdf

NOW, THEREFORE, in consideration of the foregoing premises and the terms and

conditions, provisions and covenants contained herein, Borrower and Lender do

hereby agree as follows:

The Promissory Note shall be modified and extended as specified herein

below.

All payments due under the Promissory Note shall be temporarily suspended

until the date on which the first payment due under Section 5 herein below

becomes due and payable.

Concurrently with, and in addition to, the first payment due under Section 5

herein below, Current Borrower shall deliver to Lender a payment in the

amount of ____________________________________________________

($__________________) which shall be applied against the amounts due

and owing on the Promissory Note in the following order: (i) first against

interest on any advances made there under, (ii) second against any such

advances, (iii) third against any interest on principal due there under, and

(iv) last against the outstanding principal balance thereof.

Under the terms and conditions of the Promissory Note, and assuming that

Lender does not make any additional advances there under, the amount due

and owing by Borrower to Lender immediately prior to the date of the first

payment due under Section 5 herein below will be the sum of ___________

_____________________________________________________________

($__________) for principal, plus __________________________________

($__________) for interest thereon, plus ____________________________

($__________) for advances made by Lender there under, plus __________

($__________) for interest on such advances, minus the payment described

in Section 3 hereinabove, which aggregates to a total amount due of

_____________________________________________ ($____________).

The Promissory Note is hereby amended, modified and extended related to

the payment of indebtedness evidenced thereby so that the total amount

due specified in Section 4 hereinabove shall be paid, with interest on the

unpaid balance thereof and any additional advances made there under at the

same rate per annum as is specified in the Promissory Note, in _________

monthly installments consisting of ________________ equal installments of

_____________________________________________________________

($________________), with the first of such payments due on the ______

day of _________, 20______, and successive payments due on the same

day of each succeeding month as the day of the month the first payment

was due, and the last payment in an amount equal to the total outstanding

MMP_Servicing

2 of 4

04/2007

Loan Modification & Extension

Agreement

Loan Modification And Extension Agreement - Minnesota Housing Page 2