NEW YORK CONSOLIDATION, EXTENSION, AND MODIFICATION AGREEMENT--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3172 1/01 (rev. 5/01) (page 1 of 8 pages) [Space Above This Line For Recording Data] CONSOLIDATION, EXTENSION, AND MODIFICATION AGREEMENT WORDS USED OFTEN IN THIS DOCUMENT (A) 223Agreement.224 This document, which is dated , and exhibits and riders attached to this document will be called the 223Agreement.224 (B) 223Borrower.224 will be called 223Borrower224 and sometimes 223I224 or 223me.224 Borrower222s address is . (C) 223Lender.224 will be called 223Lender224 and sometimes 223Note Holder.224 Lender is a corporation or association which exists under the laws of . Lender222s address is . (D) 223Mortgages.224 The mortgages, deeds of trust, or other security instruments and any additional security instruments and related agreements (such as assignments, extensions, modifications, or consolidations of mortgages) identified in Exhibit A to this Agreement will be called the 223Mortgages.224 (E) 223Note Holder.224 Lender or anyone who succeeds to Lender222s rights under this Agreement and who is entitled to receive the payments I agree to make under this Agreement may be called the 223Note Holder.224 (F) 223Notes.224 The Notes which are identified in Exhibit A to this Agreement, and which are secured by the Mortgages, will be called the 223Notes.224 (G) 223Property.224 The property which is described in the Mortgage(s) and in Exhibit B (Property Description) to this Agreement, will be called the 223Property.224 The Property is located at: [Street] , , [City] [County] [State and Zip Code] I promise and I agree with Lender as follows: I. BORROWER222S AGREEMENT 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 Borrower. This means 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. $ ; of this amount, U.S. $ was advanced to me (or for my account) immediately prior to this consolidation. II. AGREEMENT TO COMBINE NOTES AND MORTGAGES (A) By signing this Agreement, Lender and I are combining into one set of rights and obligations all of the promises and agreements stated in the Notes and Mortgages including any earlier agreements which combined, modified, or extended rights and obligations under any of the Notes and Mortgages. This means that all of Lender222s rights in the Property are combined so that under the law Lender has one mortgage and I have one loan obligation which I will pay as provided in this Agreement. This combining of notes and mortgages is known as a 223Consolidation.224 American LegalNet, Inc. www.FormsWorkFlow.com NEW YORK CONSOLIDATION, EXTENSION, AND MODIFICATION AGREEMENT--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3172 1/01 (rev. 5/01) (page 2 of 8 pages) (B) In the event that Exhibit A indicates that all of the Notes and Mortgages have already been combined by a previous agreement, then Lender and I agree to change the terms of Section II, paragraph (A) of this Agreement to the following: Lender and I agree that all of the promises and agreements stated in the Notes and Mortgages -- including any earlier agreements which combined, modified, or extended rights and obligations under any of the Notes and Mortgages -- have been combined into one set of rights and obligations by an earlier agreement which is referred to in Exhibit A. This means that all of the Lender222s rights in the Property have already been combined so that under the law Lender already has one mortgage and I have one loan obligation which I will pay as provided in this Agreement. The combining of notes and mortgages is known as a 223Consolidation.224 III. AGREEMENT TO CHANGE TERMS OF THE CONSOLIDATED NOTE Lender and I agree that the terms of the Notes are changed and restated to be the terms of the 223Consolidated Note224 which is attached to this Agreement as Exhibit C. The Consolidated Note contains the terms of payment for the amounts that I owe to Note Holder. I agree to pay the amounts due under the Notes in accordance with the terms of the Consolidated Note. The Consolidated Note will supersede all terms, covenants, and provisions of the Notes. IV. AGREEMENT TO CHANGE TERMS OF THE CONSOLIDATED MORTGAGE Lender and I agree that the terms of the Mortgages are changed and restated to be the terms of the 223Consolidated Mortgage224 which is attached to this Agreement as Exhibit D. The Consolidated Mortgage secures the Consolidated Note and will constitute in law a single lien upon the Property. I agree to be bound by the terms set forth in the Consolidated Mortgage which will supersede all terms, covenants, and provisions of the Mortgages. V. NO SET-OFF, DEFENSES I agree that I have no right of set-off or counterclaim, or any defense to the obligations of the Consolidated Note or the Consolidated Mortgage. VI. BORROWER222S INTEREST IN THE PROPERTY I promise that I am the lawful owner occupying the Property and that I have the right to consolidate, modify, and extend the Notes and Mortgages. VII. WRITTEN TERMINATION OR CHANGE OF THIS AGREEMENT This Agreement may not be terminated, changed, or amended except by a written agreement signed by the party whose rights or obligations are being changed by that agreement. VIII. OBLIGATIONS OF BORROWERS AND OF PERSONS TAKING OVER BORROWER222S OR LENDER222S RIGHTS OR OBLIGATIONS If more than one person signs this Agreement as Borrower, each of us is fully and personally obligated to keep all of Borrower222s promises and obligations contained in this Agreement. The Note Holder may enforce its rights under this Agreement against each of us individually or against all of us together. The terms of the Consolidated Note and the Consolidated Mortgage may not allow any person to take over my rights or obligations under this Agreement. Lender and I agree that if any person is permitted to take over my rights and obligations under this Agreement, that person will have all of my rights and will be obligated to keep all of my promises and agreements made in this Agreement. Similarly, any person who takes over Lender222s rights or obligations under this Agreement will have all of Lender222s rights and will be obligated to keep all of Lender222s agreements made in this Agreement. IX. LIEN LAW I will receive all amounts 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 I receive and which I have a right to receive from Lender under the Consolidated Note as a 223trust fund;224 and (B) use those amounts to pay for 223cost of improvement224 (as defined in the New York Lien Law) before I use them for any other purpose. The fact that I am holding those amounts as a 223trust fund224 means that for any building or other improvement located on the Property I have a special responsibility under the law to use the amount in the manner described in this Section IX. X. TYPE OF PROPERTY Check box(es) as applicable. 001 This Agreement covers real property principally improved, or to be improved, by one or more structures containing, in the aggregate, not more than six (6) residential dwelling units with each dwelling unit having its own separate cooking facilities. 001 This Agreement covers real property improved, or to be improved, by a one (1) or two (2) family dwelling. 001 This Agreement does not cover real property improved as described above. American LegalNet, Inc. www.FormsWorkFlow.com NEW YORK CONSOLIDATION, EXTENSION, AND MODIFICATION AGREEMENT--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3172 1/01 (rev. 5/01) (page 3 of 8 pages) By signing this Agreement, Lender and I agree to all of the above. - Lender - Borrower By: - Borrower [Space Below This Line For Acknowledgment] American LegalNet, Inc. www.FormsWorkFlow.com NEW YORK CONSOLIDATION, EXTENSION, AND MODIFICATION AGREEMENT--Single Family--Fannie Ma