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(H) "PrOllerty." Ibe p .perty which is described in the Morlgage(s) and in Exhibit B (Property Description) to this Agreement, will be called the "P operty:' The Property is located at: Staten Island ICityl I promise and I agree wit Lender as follows: III. AGREEMENT TO C NGE TERMS OF THE CONSOLIDATED NOTE Lender and I agree that he terms of the Notes are changed and restated to be the tenns of the "Consolidated Note" which is attached to this Agrecllent as Exhibit C. The Consolidated Note contains the terms of payment for the amounts that 1owe to Note Holder. I agree t pay the amounts due under the Notcs in accordance with the tem1S of the Consolidated Note. The Consolidated Note will sup rsede all terms, covenants, and provisions of the Notes. V. NOSET-OFF,DEFEN ES I agree that I have no rig 1t of set-off or count.erclaim, or any defense to the obligations of the Consolidated Note or the Consolidated Mortgage. 342 Winchester Avenue (Street] Richmond (Coonlyl (Page 2 of 9l'ages) New York 10312 (State and Zip CodeJ I. BORROWER'S AGRE MENT ABOUT OBLIGATION UNDER THE NOTES AND MORTGAGES I agree to take over all of the obligations under the Notes and Mortgages as consolidated and modified by this Agreement as Bonower. This L1 eans that I will keep all of the promises and agreements made in the Notes and Mortgages even if some other person made those promises and agreements before me. The total unpaid principal balance of the Notes is U.S. $390,500.00 of this amount, U.s. $33,817.73 was advanced to me (or for my account) immediately prior to ths consolidation. U. AGREEMENT TO CO BINE NOTES AND MORTGAGES (A) By signing this Agl ement, Lender and I are combining into one set of rights and obligations all of the promises and agreements stated in the N es and Mortgages including any earlier agreements which combined, modified, or extended rights and obligations under ill of the Notcs and Mortgages. This means that all of Lender's rights in the Property are combined so that under the law ender has one mortgage and I have one loan obligation which I will pay as provided in this Agreement. This combining of otes and mortgages is known as a "Consolidation." (B) In the event that xhibil A indicates that all of the Notes and Mortgages have already been combined by a previous agreement, then Lend rand r agree to change the terms of Section II, paragraph (A) of this Agreement to the following: IV. AGREEMENT TO CI ANGE TERMS OF THE CONSOLIDATED MORTGAGE Lender and I agree that the tenus of the Mortgages are changed and restated to be the terms of the "Consolidated Mortgage" which is attached to this Agreement as Exhibit D. The Consolidated Mortgage secmes the Consolidated Note and will constitute in law a single Ii II upon the Property. I agree to be bound by the terms set forth in the Consolidated Mortgage which will supersede all terms, .ovenants, and provisions of the Mortgages. NEW YORK CONSOLIDATION, E 'n:NSION, AND MODIFICATION AGREEMENT-Single F~llIi1y- Fannie Mae!Fre(tdle Mac UNIFORI\o INSTRUMENT ITEM 7'331.2 (0401)-MERS Lender and I agre that all of the promises and agreemeJits stated in the Notes and Mortgages--including any earl. r agreements which combined, modified, or extended rights and obligations under any of the N tes and Mortgages--have been combined into one set of rigHts and obligations by an earlier agrec lent wbidl is referred to in Exhibit A.This means that all of the Lender's rights ill the Property hay already been combined so that under the Jaw Lender already has one mortgage and I have one loa 1 obligation which I will pay as provided in this Agreement. The combining of notes and mortgag is known as a "Consolidation." . Form 31721/01 (rev. 5101) GAEA Tl.ANO • ro Or~ef Cal., .800.530-93930 Fa>.:516.791-1131
VI. BORROWER'S INTE EST IN THE PROPERTY 1 promise that I am the awful owner occupying the Property and that I have the right to consolidate, modify, lmd extend the Notes and Mortgage . VD. WRITTEN TERMINA ION OR CHANGE OF THIS AGREEMENT This Agreement may n t be terminated, changed, or amended except by a written agreement signed by the party whose rights or obligations are eing changed by that agreement. VIII. OBLIGATIONS OF B RROWERS AND OF PERSONS TAKING OVER BORROWER'S OR LENDER'S RIGHTS OR OBLlGA IONS If more than one person igns this Agreement as Borrower, each of us is fully and personally obligated to keep all of Borrower's promises and obli ations contained in this Agreement. The Note Holder Ulay enforce its rights under this Agreement against each of us in ividually or against all of us together. The temlS of the Consol dated Note and the Consolidated Mortgage may not allow any person to take over my rights or obligations under this Agree lcnt. Lender and I agree that if any person is permitted to take over my rights and obligations under this Agreement, that pers n will have all of my rights and will be obligated to keep all of my promist'.sand agreements made in this Agreement. Simil ly, any person who takes over Lender's rights or obligations under this Agreement will have all of Lenucr' s rights and will b obligated to keep all of Lender's agreements made in this ,\greement. IX. LIEN LAW Iwill receive all amoLlII lent to me by Lender subject to the trust fund provisions of Section 13 of the New York Lien Law. This means that I will: (A hold all amounts which Ireceive and which I have a right to receive from Lender under the Consolidated Note as a "trust md;" and (B) use those amounts to pay for "cost of improvement" (as defined in the New York Lien Law) before I use th m for any other purpose. The fact that I am holding those amounts as a "trust fund" means that for any building or other illprovement located on the Property Ihave a special responsibility under the law to use thc amount ill the manner described in this Section IX. x. TYPE OF PRO PERT Check box(es) as appliC' Ie. D This Agreement covers r al propet;typrincipally improved, or to be improved, by one or more structures containing, in the aggregate, not more an six.(6) residential dwelling units with each dwelling unit having its own separate cooking facilities. This Agreement covers r al property improved, or to be improved, by a one (1) or two (2) frunily dwelling. This Agreement does 110 cover real property improved as described above. NEW YORK CONSOLIDATION, E TENSION, AND MODIFICATION AGREEMENT-Single Family-. Fannie Mae/Freddie Mac UNIFORM INSTRUl\1ENT HEM 7133L3 (G401)-MERS (f'".~e 3 of 9pages) Form :H72 JlOI (rev. 5101) GAEATLAND •• fo Order C.all: 1.800.530-9393 0 fax. 616.791-1131
Page 1 and 2: Return To: i • ISpn« Above Tbis
Page 3 and 4: • • BORROWER'S TRANS ER TO LEND
Page 5: ~--------------------------------_.
Page 9 and 10: MERS, By: STATE OF COUNTY OF • Le

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