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SAMPLE LOAN AND OTHER DOCUMENTSBSample Loan andOther DocumentsThis appendix contains: B.1 Sample Mortgage B.2 Sample Promissory Note (Fixed) B.3 Sample Promissory Note (Adjustable) B.4 Sample Change Rate Notice for ARM B.5 Sample Annual Escrow Account Statement B.6 Sample Notice As to Change of Service B.7 Sample Notice As to Assignment, Sale, orTransfer of Ownership of Mortgage Loan(G) “Riders” means all Riders to this SecurityInstrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box asapplicable]:9 Adjustable Rate Rider9 Planned Unit9 Condominium Rider Development Rider9 Second Home Rider9 Other(s) [specify]9 Balloon Rider9 1–4 Family Rider9 BiweeklyPayment RiderB.1 SAMPLE MORTGAGEMORTGAGE(H) “Applicable Law” means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that havethe effect of law) as well as all applicable final, non-appealable judicial opinions.DEFINITIONSWords used in multiple sections of this document aredefined below and other words are defined in Sections 3, 11,13, 18, 20 and 21. Certain rules regarding the usage of wordsused in this document are also provided in Section 16.(A) “Security Instrument” means this document,which is dated , , together with allRiders to this document.(B)“Borrower”is. Borrower is themortgagor under this Security Instrument.(C) “Lender” is . Lenderis a organized and existingunder the laws of . Lender’s address is. Lender is themortgagee under this Security Instrument.(D) “Note” means the promissory note signed by Borrower and dated ,. The Note statesthat Borrower owes Lender Dollars(U.S. ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and topay the debt in full not later than .(E) “Property” means the property that is describedbelow under the heading “Transfer of Rights in theProperty.”(F) “Loan” means the debt evidenced by the No te,plus interest, any prepayment charges and late chargesdue under the Note, and all sums due under this Security Instrument, plus interest.FPC-7-AP.indd 311APPENDIX BA P P E N D I X(I) “Community Association Dues, Fees, andAssessments” means all dues, fees, assessments andother charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization.(J) “Electronic Funds Transfer” means any transferof funds, other than a transaction originated by check,draft, or similar paper instrument, which is initiatedthrough an electronic terminal, telephonic instrument,computer, or magnetic tape so as to order, instruct, orauthorize a financial institution to debit or credit anaccount. Such term includes, but is not limited to, pointof-sale transfers, automated teller machine transactions,transfers initiated by telephone, wire transfers, and automated clearinghouse transfers.(K) “Escrow Items” means those items that aredescribed in Section 3.(L) “Miscellaneous Proceeds” means any compensation, settlement, award of damages, or proceeds paidby any third party (other than insurance proceeds paidunder the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnationor other taking of all or any part of the Property; (iii)conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or conditionof the Property.31110/18/13 4:18 PM
Appx. B FORECLOSURE PREVENTION COUNSELING(M) “Mortgage Insurance” means insurance protecting Lender against the nonpayment of, or defaulton, the Loan.(N) “Periodic Payment” means the regularly scheduled amount due for (i) principal and interest under theNote, plus (ii) any amounts under Section 3 of this Security Instrument.(O) “RESPA” means the Real Estate Settlement Procedures Act (12 U.S.C. § 2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), asthey might be amended from time to time, or any additional or successor legislation or regulation that governsthe same subject matter. As used in this Security Instrument, “RESPA” refers to all requirements and restrictions that are imposed in regard to a “federally relatedmortgage loan” even if the Loan does not qualify as a“federally related mortgage loan” under RESPA.(P) “Successor in Interest of Borrower” means anyparty that has taken title to the Property, whether or notthat party has assumed Borrower’s obligations under theNote and/or this Security Instrument.TRANSFER OF RIGHTS IN THE PROPERTYThis Security Instrument secures to Lender: (i) therepayment of the Loan, and all renewals, extensionsand modifications of the Note; and (ii) the performance of Borrower’s covenants and agreements underthis Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and conveyto Lender and Lender’s successors and assigns, withpower of sale, the following described property locatedin the [Type ofRecording Jurisdiction] of[Name of Recording Jurisdiction] which currently has the address of [Street][City], Massachusetts [Zip Code](“Property Address”):TOGETHER WITH all the improvements now orhereafter erected on the property, and all easements,appurtenances, and fixtures now or hereafter a part ofthe property. All replacements and additions shall alsobe covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the“Property.”BORROWER COVENANTS that Borrower is lawfullyseised of the estate hereby conveyed and has the rightto mortgage, grant and convey the Property and that theProperty is unencumbered, except for encumbrances ofrecord. Borrower warrants and will defend generally thetitle to the Property against all claims and demands, subject to any encumbrances of record.THIS SECURITY INSTRUMENT combines uniformcovenants for national use and non-uniform covenantswith limited variations by jurisdiction to constitute auniform security instrument covering real property.UNIFORM COVENANTS. Borrower and Lender cov enant and agree as follows:1. Payment of Principal, Interest, Escrow Items,Prepayment Charges, and Late Charges. Borrowershall pay when due the principal of, and interest on,the debt evidenced by the Note and any prepaymentcharges and late charges due under the Note. Borrowershall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this SecurityInstrument shall be made in U.S. currency. However,if any check or other instrument received by Lender aspayment under the Note or this Security Instrument isreturned to Lender unpaid, Lender may require that anyor all subsequent payments due under the Note and thisSecurity Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) moneyorder; (c) certified check, bank check, treasurer’s checkor cashier’s check, provided any such check is drawnupon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) ElectronicFunds Transfer.Payments are deemed received by Lender whenreceived at the location designated in the Note or at suchother location as may be designated by Lender in accordance with the notice provisions in Section 15. Lendermay return any payment or partial payment if the payment or partial payments are insufficient to bring theLoan current. Lender may accept any payment or partialpayment insufficient to bring the Loan current, withoutwaiver of any rights hereunder or prejudice to its rights torefuse such payment or partial payments in the future, butLender is not obligated to apply such payments at the timesuch payments are accepted. If each Periodic Payment isapplied as of its scheduled due date, then Lender need notpay interest on unapplied funds. Lender may hold suchunapplied funds until Borrower makes payment to bringthe Loan current. If Borrower does not do so within areasonable period of time, Lender shall either apply suchfunds or return them to Borrower. If not applied earlier,such funds will be applied to the outstanding principalbalance under the Note immediately prior to foreclosure.No offset or claim which Borrower might have now orin the future against Lender shall relieve Borrower frommaking payments due under the Note and this SecurityInstrument or performing the cov enants and agreementssecured by this Security Instrument.2. Application of Payments or Proceeds. Exceptas otherwise described in this Section 2, all paymentsaccepted and applied by Lender shall be applied in thefollowing order of priority: (a) interest due under theNote; (b) principal due under the Note; (c) amounts dueunder Section 3. Such payments shall be applied to each312FPC-7-AP.indd 31210/18/13 4:18 PM
Periodic Payment in the order in which it became due.Any remaining amounts shall be applied first to latecharges, second to any other amounts due under thisSecurity Instrument, and then to reduce the principalbalance of the Note.If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amountto pay any late charge due, the payment may be applied tothe delinquent payment and the late charge. If more thanone Periodic Payment is outstanding, Lender may apply anypayment received from Borrower to the repayment of thePeriodic Payments if, and to the extent that, each paymentcan be paid in full. To the extent that any excess exists afterthe payment is applied to the full payment of one or morePeriodic Payments, such excess may be applied to anylate charges due. Voluntary prepayments shall be appliedfirst to any prepayment charges and then as describedin the Note.Any application of payments, insurance proceeds, orMiscellaneous Proceeds to principal due under the Noteshall not extend or postpone the due date, or change theamount, of the Periodic Payments.3. Funds for Escrow Items. Borrower shall pay toLender on the day Periodic Payments are due under the Note,until the Note is paid in full, a sum (the “Funds”) to providefor payment of amounts due for: (a) taxes and assessmentsand other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property;(b) leasehold payments or ground rents on the Property, ifany; (c) premiums for any and all insurance required byLender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lenderin lieu of the payment of Mortgage Insurance premiumsin accordance with the provisions of Section 10. Theseitems are called “Escrow Items.” At origination or at anytime during the term of the Loan, Lender may requirethat Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, feesand assessments shall be an Escrow Item. Borrower shallpromptly furnish to Lender all notices of amounts to bepaid under this Section. Borrower shall pay Lender theFunds for Escrow Items unless Lender waives Borrower’sobligation to pay the Funds for any or all Escrow Items.Lender may waive Borrower’s obligation to pay to LenderFunds for any or all Escrow Items at any time. Any suchwaiver may only be in writing. In the event of such waiver,Borrower shall pay directly, when and where payable, theamounts due for any Escrow Items for which payment ofFunds has been waived by Lender and, if Lender requires,shall furnish to Lender receipts evidencing such payment within such time period as Lender may require.Borrower’s obligation to make such payments and toprovide receipts shall for all purposes be deemed to bea covenant and agreement contained in this SecurityInstrument, as the phrase “cov enant and agreement” isused in Section 9. If Borrower is obligated to pay EscrowItems directly, pursuant to a waiver, and Borrower failsto pay the amount due for an Escrow Item, Lender mayexercise its rights under Section 9 and pay such amountand Borrower shall then be ob l igated under Section 9 torepay to Lender any such amount. Lender may revokethe waiver as to any or all Escrow Items at any time bya notice given in accordance with Section 15 and, uponsuch revocation, Borrower shall pay to Lender all Funds,and in such amounts, that are then required under thisSection 3.Lender may, at any time, collect and hold Funds inan amount (a) sufficient to permit Lender to apply theFunds at the time specified under RESPA, and (b) not toexceed the maximum amount a lender can require underRESPA. Lender shall estimate the amount of Funds dueon the basis of current data and reasonable estimatesof expenditures of future Escrow Items or otherwise inaccordance with Applicable Law.The Funds shall be held in an institution whosedeposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any FederalHome Loan Bank. Lender shall apply the Funds to paythe Escrow Items no later than the time specified underRESPA. Lender shall not charge Borrower for holdingand applying the Funds, annually analyzing the escrowaccount, or verifying the Escrow Items, unless Lenderpays Borrower interest on the Funds and Applicable Lawpermits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be requiredto pay Borrower any interest or earnings on the Funds.Borrower and Lender can agree in writing, however, thatinterest shall be paid on the Funds. Lender shall give toBorrower, without charge, an annual accounting of theFunds as required by RESPA.If there is a surplus of Funds held in escrow, as definedunder RESPA, Lender shall account to Borrower for theexcess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA,Lender shall notify Borrower as required by RESPA, andBorrower shall pay to Lender the amount necessary tomake up the shortage in accordance with RESPA, but inno more than 12 monthly payments. If there is a deficiencyof Funds held in escrow, as defined under RESPA, Lendershall notify Borrower as required by RESPA, and Borrowershall pay to Lender the amount necessary to make up thedeficiency in accordance with RESPA, but in no more than12 monthly payments.Upon payment in full of all sums secured by thisSecurity Instrument, Lender shall promptly refund toBorrower any Funds held by Lender.APPENDIX BSample Loan and Other Documents Appx. B313FPC-7-AP.indd 31310/18/13 4:18 PM
Appx. B FORECLOSURE PREVENTION COUNSELING4. Charges; Liens. Borrower shall pay all taxes,assessments, charges, fines, and impositions attributableto the Property which can attain priority over this Security Instrument, leasehold payments or ground rents onthe Property, if any, and Community Association Dues,Fees, and Assessments, if any. To the extent that theseitems are Escrow Items, Borrower shall pay them in themanner provided in Section 3.Borrower shall promptly discharge any lien which haspriority over this Security Instrument unless Borrower:(a) agrees in writing to the payment of the obligationsecured by the lien in a manner acceptable to Lender, butonly so long as Borrower is performing such agreement;(b) contests the lien in good faith by, or defends againstenforcement of the lien in, legal proceedings which inLender’s opinion operate to prevent the enforcement ofthe lien while those proceedings are pending, but onlyuntil such proceedings are concluded; or (c) secures fromthe holder of the lien an agreement satisfactory to Lendersubordinating the lien to this Security Instrument. IfLender determines that any part of the Property is subject to a lien which can attain priority over this SecurityInstrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which thatnotice is given, Borrower shall satisfy the lien or take oneor more of the actions set forth above in this Section 4.Lender may require Borrower to pay a one-time chargefor a real estate tax verification and/or reporting serviceused by Lender in connection with this Loan.5. Property Insurance. Borrower shall keep theimprovements now existing or hereafter erected on theProperty insured against loss by fire, hazards includedwithin the term “extended coverage,” and any otherhazards including, but not limited to, earthquakesand floods, for which Lender requires insurance. Thisinsurance shall be maintained in the amounts (including deductible levels) and for the periods that Lenderrequires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan.The insurance carrier providing the insurance shall bechosen by Borrower subject to Lender’s right to disapprove Borrower’s choice, which right shall not be exercised unreasonably. Lender may require Borrower topay, in connection with this Loan, either: (a) a one-timecharge for flood zone determination, certification andtracking services; or (b) a one-time charge for flood zonedetermination and certification services and subsequentcharges each time remappings or similar changes occurwhich reasonably might affect such determination orcertification. Borrower shall also be responsible for thepayment of any fees imposed by the Federal EmergencyManagement Agency in connection with the review ofany flood zone determination resulting from an objection by Borrower.If Borrower fails to maintain any of the coveragesdescribed above, Lender may obtain insurance coverage, at Lender’s option and Borrower’s expense. Lenderis under no obligation to purchase any particular typeor amount of coverage. Therefore, such coverage shallcover Lender, but might or might not protect Borrower,Borrower’s equity in the Property, or the contents of theProperty, against any risk, hazard or liability and mightprovide greater or lesser coverage than was previously ineffect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed thecost of insurance that Borrower could have obtained.Any amounts disbursed by Lender under this Section 5shall become additional debt of Borrower secured by thisSecurity Instrument. These amounts shall bear interestat the Note rate from the date of disbursement and shallbe payable, with such interest, upon notice from Lenderto Borrower requesting payment.All insurance policies required by Lender and renewals of such policies shall be subject to Lender’s right to disapprove such policies, shall include a standard mortgageclause, and shall name Lender as mortgagee and/or as anadditional loss payee. Lender shall have the right to holdthe policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any formof insurance coverage, not otherwise required by Lender,for damage to, or destruction of, the Property, such policyshall include a standard mortgage clause and shall nameLender as mortgagee and/or as an additional loss payee.In the event of loss, Borrower shall give prompt noticeto the insurance carrier and Lender. Lender may makeproof of loss if not made promptly by Borrower. UnlessLender and Borrower otherwise agree in writing, anyinsurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration orrepair is economically feasible and Lender’s security isnot lessened. During such repair and restoration period,Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspectsuch Property to ensure the work has been completed toLender’s satisfaction, provided that such inspection shallbe undertaken promptly. Lender may disburse proceedsfor the repairs and restoration in a single payment or ina series of progress payments as the work is completed.Unless an agreement is made in writing or Applicable Lawrequires interest to be paid on such insurance proceeds,Lender shall not be required to pay Borrower any interestor earnings on such proceeds. Fees for public adjusters,or other third parties, retained by Borrower shall notbe paid out of the insurance proceeds and shall be thesole obligation of Borrower. If the restoration or repairis not economically feasible or Lender’s security would314FPC-7-AP.indd 31410/18/13 4:18 PM
be lessened, the insurance proceeds shall be applied tothe sums secured by this Security Instrument, whetheror not then due, with the excess, if any, paid to Borrower.Such insurance proceeds shall be applied in the orderprovided for in Section 2.If Borrower abandons the Property, Lender may file,negotiate and settle any available insurance claim andrelated matters. If Borrower does not respond within 30days to a notice from Lender that the insurance carrierhas offered to settle a claim, then Lender may negotiateand settle the claim. The 30-day period will begin whenthe notice is given. In either event, or if Lender acquiresthe Property under Section 22 or otherwise, Borrowerhereby assigns to Lender (a) Borrower’s rights to anyinsurance proceeds in an amount not to exceed theamounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower’s rights (other thanthe right to any refund of unearned premiums paid byBorrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverageof the Property. Lender may use the insurance proceedseither to repair or restore the Property or to pay amountsunpaid under the Note or this Security Instrument,whether or not then due.6. Occupancy. Borrower shall occupy, establish, anduse the Property as Borrower’s principal residence within60 days after the execution of this Security Instrumentand shall continue to occupy the Property as Borrower’sprincipal residence for at least one year after the dateof occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld,or unless extenuating circumstances exist which arebeyond Borrower’s control.7. Preservation, Maintenance and Protection ofthe Property; Inspections. Borrower shall not destroy,damage or impair the Property, allow the Property todeteriorate or commit waste on the Property. Whetheror not Borrower is residing in the Property, Borrowershall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to itscondition. Unless it is determined pursuant to Section5 that repair or restoration is not economically feasible,Borrower shall promptly repair the Property if damagedto avoid further deterioration or damage. If insuranceor condemnation proceeds are paid in connection withdamage to, or the taking of, the Property, Borrower shallbe responsible for repairing or restoring the Property onlyif Lender has released proceeds for such purposes. Lendermay disburse proceeds for the repairs and restoration in asingle payment or in a series of progress payments as thework is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property,Borrower is not relieved of Borrower’s obligation for thecompletion of such repair or restoration.Lender or its agent may make reasonable entries uponand inspections of the Property. If it has reasonablecause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower noticeat the time of or prior to such an interior inspection specifying such reasonable cause.8. Borrower’s Loan Application. Borrower shall bein default if, during the Loan application process, Borrower or any persons or entities acting at the directionof Borrower or with Borrower’s knowledge or consentgave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lenderwith material information) in connection with the Loan.Material representations include, but are not limited to,representations concerning Borrower’s occupancy of theProperty as Borrower’s principal residence.9. Protection of Lender’s Interest in the Propertyand Rights Under this Security Instrument. If (a)Borrower fails to perform the covenants and agreementscontained in this Security Instrument, (b) there is alegal proceeding that might significantly affect Lender’sinterest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy,probate, for condemnation or forfeiture, for enforcementof a lien which may attain priority over this SecurityInstrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may doand pay for whatever is reasonable or appropriate to protect Lender’s interest in the Property and rights underthis Security Instrument, including protecting and/orassessing the value of the Property, and securing and/or repairing the Property. Lend er’s actions can include,but are not limited to: (a) paying any sums secured by alien which has priority over this Security Instrument; (b)appearing in court; and (c) paying reasonable attorneys’fees to protect its interest in the Property and/or rightsunder this Security Instrument, including its securedposition in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Propertyto make repairs, change locks, replace or board up doorsand windows, drain water from pipes, eliminate building or other code violations or dangerous conditions,and have utilities turned on or off. Although Lender maytake action under this Section 9, Lender does not have todo so and is not under any duty or obligation to do so. Itis agreed that Lender incurs no liability for not takingany or all actions authorized under this Section 9.Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower securedby this Security Instrument. These amounts shall bearinterest at the Note rate from the date of disbursementand shall be payable, with such interest, upon noticefrom Lender to Borrower requesting payment.APPENDIX BSample Loan and Other Documents Appx. B315FPC-7-AP.indd 31510/18/13 4:18 PM
Appx. B FORECLOSURE PREVENTION COUNSELINGIf this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. IfBorrower acquires fee title to the Property, the leaseholdand the fee title shall not merge unless Lender agrees tothe merger in writing.10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan,Borrower shall pay the premiums required to maintainthe Mortgage Insurance in effect. If, for any reason, theMortgage Insurance coverage required by Lender ceasesto be available from the mortgage insurer that previouslyprovided such insurance and Borrower was required tomake separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay thepremiums required to obtain coverage substantiallyequivalent to the Mortgage Insurance previously ineffect, at a cost substantially equivalent to the cost toBorrower of the Mortgage Insurance previously in effect,from an alternate mortgage insurer selected by Lender. Ifsubstantially equivalent Mortgage Insurance coverage isnot available, Borrower shall continue to pay to Lenderthe amount of the separately designated payments thatwere due when the insurance coverage ceased to be ineffect. Lender will accept, use and retain these paymentsas a non-refundable loss reserve in lieu of MortgageInsurance. Such loss reserve shall be non-refundable,notwithstanding the fact that the Loan is ultimatelypaid in full, and Lender shall not be required to payBorrower any interest or earnings on such loss reserve.Lender can no longer require loss reserve payments ifMortgage Insurance coverage (in the amount and forthe period that Lender requires) provided by an insurerselected by Lender again becomes available, is obtained,and Lender requires separately designated paymentstoward the premiums for Mortgage Insurance. If Lenderrequired Mortgage Insurance as a condition of makingthe Loan and Borrower was required to make separatelydesignated payments toward the premiums for MortgageInsurance, Borrower shall pay the premiums required tomaintain Mortgage Insurance in effect, or to provide anon-refundable loss reserve, until Lender’s requirementfor Mortgage Insurance ends in accordance with anywritten agreement between Borrower and Lender providing for such termination or until termination is requiredby Applicable Law. Nothing in this Section 10 affectsBorrower’s obligation to pay interest at the rate providedin the Note.Mortgage Insurance reimburses Lender (or any entitythat purchases the Note) for certain losses it may incur ifBorrower does not repay the Loan as agreed. Borrower isnot a party to the Mortgage Insurance.Mortgage insurers evaluate their total risk on all suchinsurance in force from time to time, and may enter intoagreements with other parties that share or modify theirrisk, or reduce losses. These agreements are on terms andconditions that are satisfactory to the mortgage insurerand the other party (or parties) to these agreements.These agreements may require the mortgage insurerto make payments using any source of funds that themortgage insurer may have available (which may includefunds obtained from Mortgage Insurance premiums).As a result of these agreements, Lender, any purchaserof the Note, another insurer, any reinsurer, any otherentity, or any affiliate of any of the foregoing, may receive(directly or indirectly) amounts that derive from (ormight be characterized as) a portion of Borrower’s payments for Mortgage Insurance, in exchange for sharingor modifying the mortgage insurer’s risk, or reducinglosses. If such agreement provides that an affiliate ofLender takes a share of the insurer
APPENDIX APPENDIX B 311 SAMPLE LOAN AND OTHER DOCUMENTS This appendix contains: B.1 Sample Mortgage B.2 Sample Promissory Note (Fixed) B.3 Sample Promissory Note (Adjustable) B.4 Sample Change Rate Notice for ARM B.5 Sample Annual Escrow Account Statement B.6 Sample Notice As to Change of Service B.7 Sample Notice As to Assignment, Sale, or
