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<br /> � � � . , ..,i ADJLJS'g'A�LE I�'I'E RII�ER �7�, �0�� . .. `
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<br /> t —T----- --,.�i TFII§ADIUSTABLE RATE RIDER is ID2@e IhiS 12TH �y pf MAY , 199? eIId is . . _ '�`"
<br /> , incrorparated into and shaU be deerned ro a�nead aad supplement the Mortgage,Deed of Trnst or Security Deed(the"SecuritY .
<br /> . ' • __:� Instrument°)of the same datc givea by the und�signed(the"Bmrower")ro seraue Borrow�'s Ad,Nstabte Rate Note(the � �...
<br /> ` "I�Totc")tn s
<br /> ..:. _-._-� HOMB PSDERAI, 3AHIN�S & LOAN ASSOCIATIOid OF GRAND ZSLAL�Il] 4 °- -'— - - ,
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<br /> (the"L�ander")of the same dase and covering the prapecty descd6ed in the Security Instrumrnt and located at -
<br /> ° ;..� 2716 APACFiE RD _ .
<br /> �f,p CsR}1AID ISLAND, NSHRASICA 688Q7. ..
<br /> _� . . [P�a�,erey Addreasl <"�. .
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<br /> � �'� 'fHIS NOTE CONfAINS PROVf5�I0:�S A�A�[`s FO�t CHANGE� E[+�R4Y Ilr1TEttF.Sl'RATL�ANID MY ,,��._` '-
<br /> - . ` ` N�Oi17'HLY PAYMENT. Y'��etL^a.c�� �i '$'il� ��'�`F.�?ST �'�V9�.L fi�StlLT YN H�GI�R PAYMENTS. . �r ,���.:,, ;
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<br /> �:t �� � DECREASF�Ilii�I$E A°l�ST[i1�'L�fE 1A:Y.L RESIJI.Z'IN�.fD'i�'��B,R PAYNI�N7'S. ,�;4:,-�..
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<br /> ' . : :� ADDTPIONAL COYEf�i�NTS. In addition tn � covenantS and ageements made � th� Securag ��men�
<br /> 1 . '�':•��. �s�rower and Leuder fiuthea vovenant and agree as follc��� -
<br /> �� . . ,' �- � A.IN'!'LR�ST ItA'i'�ANU MONTfIA.4�t?AYAREI�T CHEWG�S ... , . ._
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<br />- , 'Rie Notc pravides for an initial inte�est rate of 7.500 %. 1he Nate provides for changes in the Y"r,���
<br />� �± mr�aest rafe arsd the montlily payments.as follows: . �""
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<br /> " � : 4.INTER�ST RAT�:AND MONTM.Y PAYNdEN!'CHANGES ;;'�'`.`,,f•.'
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<br /> ;�. ;+;. (A)C6ange Dates ` ��
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<br />:�:< < _ 'Ihe inte�st�ate I w71 pay may chaB�on the fust day of �� , 1998 and on that da,y �,� ".` *
<br /> �.,: ' ' � i2TS month thereafter.Eac�dae on which m interest ra�coutd chan e is called a"C6an e Date." :��,
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<br /> �'�'` • � Beguu►mS witb tiye fust Change Date.my interest rate w�l 6e based on an Iadex.The"IndeA"i5 �; ,.`°";;.
<br /> � �,+ TB8 WSSIQ,Y AVBRAGE YIELD ON iRJITSD STATSS TREASIIRY SSCQRITIBS ADJI33TED TO A ' " ' :�;.T
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<br /> � � CONSTANT MATURITY QF 1 YSAR. AS MADE AVAILABLB BH THE PEDERAL TiBSERVS BOARD. � �
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<br /> ':�1 � 7he most teoeat Index 6g�e availabte as of the date: � 45 days❑ •,� '�;s��:,,.;�::<}.'
<br /> ` , before eac6 C.hange Date is called the"C�reat Index." r",�:�:,f�,;:
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<br /> y�:�'. � , • � ' 1f the Indes is no longes available.the Note Holder wiU choase a new mdea tl�;t�ba�eci apon cflmpasable�omiation. .`�,t�;u�,,;-;.'r.�;=-
<br /> ';:, � ' 'fLe Tiote Holder aritl give me notice of this choice. � �j'+ ,; "
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<br /> (C)CBZ�OIetiOD Of Chen�C,4 .
<br /> � ' Before each Change Date,the Note Ho2der will ca2culat�my new in�rest rate by adding . .��
<br /> -..,,: .. .� �.. �E Arm orrE � pe�e„rage voinug)( a.so o �>�o me C�nt�nde�c. -
<br />=�'.' . . 'I�e Note Holder will then mund the result of this addition co ihe Q Ncarest Q Neat Highest Q;��xt Lowest • • '
<br /> '�';�i ONB BIQf1Tfi � .125 �fQ�,
<br /> `���s ' �� Subject to the limits stated in Section 4(D)below.this munded amo�ut will be my new int�est r�unW the next Change . ' .
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<br /> • . 'Ifte Nots Holde,r ad11 tP:c�determine ihe amowlt o�'de monihly yaymeni that u�uld be sufficient to repay ahe w�paid �
<br /> - '�? �.��cipal that I am raipe�¢a owe ai the Change D2te i�fv�on the mauuity date an my new interest�atc in substantialty
<br /> ��;h � • ' . equal paymcats.7he resull of fhis catculation will be�he aew amount aY my monthly payment �
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<br />-'��� (�)L��;on Ynterest Rate C6eagea -
<br /> ����;� � P ease check approyr,,ae boxea;if no 8ox is checked,there witl Be no mwdmrer�limlt on changes.) . . '
<br /> (1)'Ilt�e will be�Q r�aximum limit on intraest rate changes.
<br /> • � (2)7�iE int�rest rate 1 am required to pay at the first Change Date will not be p�cater than 9.500 q, ,
<br /> �`=• , � otleS9 5.500 %. '
<br /> :�M1.,. �3)�My interest ratc will never be inereaSed or decreased on any single Change Data by more than � � :
<br /> JO BSRCLNT percentage point(s) ( 2.000 %) from the �
<br /> �•�� iafc of interest 1 Aave been PaYing fm the P��B Penod. .
<br /> �: : • Q(4)MY intr,rest rate witl nevea be greater thaa 12.50 0 qo.which is cal2ed the"Maximum Rate." �
<br /> � :�• THE "MINIM[TM RATE" WILL NEVER BE LE3S THAN 5.500$.
<br /> �' �� ElULTIBTATE ADJUSTABLE AATE RtOEA-Singte Famity 8l94
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