201402439 - Laserfiche WebLink

Browse

��14��439 qa3326�164�6 447� 284 42�3 �� alcu�at�onof Inter�st Rate Changes Before each �hange Date, Lender will calcu�ate a new interest rate by adding a margin of TV�� nd N�- Thousandths p�rcentage �o�nt�s} � �.4�� /v} to the Current Index and rounding the sum to the nearest one-eigh#h of one percentage point ��.1�5°�0}. Subject to �he limits stated in paragr�ph �D} �f �his Rider, this rounded amount will be�he new interes� rate unti!the next�hange Date. �D} L�mits on 1nt�rest Rate Ch�n�es The existing �nterest rate �vill never increase or decrease by mare �han �ne and No-ThDusat�dths percentage point�s� � 1.D�D °Io}on any sing�e Change Date. The interest rate r�ill never be more than F�v� and No-Th�usandths percentage points � 5.�� °Io� higher ar[o�nrer than the initial int�rest rate sta�e� i� Paragraph 2 of the N�te. �E}Gal�ulation�f Paym�nt�han�e If the interest rate changes on a �hange Da�e, Lender will calculate the amou�t of monthly �ayment af �rincipal and interest which wou�d be necessary to repay the un�aid �rincipa� balance in full a# �he Maturity Date at the nev�► interest rate through substantially equal �ayments. 1n makin� su�h ca�culation, Lender r►v�ll use the unpaid �rinci�a� balance which w�u�d be o�e� on the �hange Date if there had been no default in �aymen� on the hlate, reduced by the amount of any prepayments �o pr�nc�pal. The result of this c�fculation will be the amount s�f the new monthly payment of pr�ncipaf and interest. �F}Notice of�han�es Lender will g�ve notice �o Borro�ver of any ehange �n the interest rate and rr�anthly payment amount, The notice must be gi�en at least �� days before the nevv mnnthly payment amount is due, an� r�ust set forth �i} the date vf the notice, �ii} the �hange Da#e, �iii} the �1d int�rest rate, �i�} the new interest rate, ��} the n�w manth�y payment amgunt, �vi� �he �urrent �ndex and the date i� was �ublished, ��ii} the method of calculating the chang� in monthly payment �rnount, and 4�ii�� any other �nformation which may be required by law from time to time. �G} Eif�cti�e Date af�hanges A new int�res# rate cai�ulated in accardance with paragraph� ��} an� ��} of �his Rider will becarne effec#ive on the Change Date. B�rrower shall make a payrnen� �n the new monthly arnount beginning on the f�rst paymen� date which occurs at �east 25 days after Lender has �i�en B�rrower the notice of changes required by paragraph �F} of �his Rider. Barrower shall have no obligation ta pay any increase in the monthly payment amvunt calculated in accordance wi�h paragraph �E}of this Rider for any �ayment date occurring less �han �5 �ay� after Lender has given the required natice. If the monthly payment amount calculated in accflrdance �n►ith paragraph �E}of this Rider decreas�d, but Lender failed t� g�ve timely n�tice of the decrease and Borrower made any monthly payment �mounts exceeding the payment arnaun� which �hould ha�e been stated in a timely notice, then Borr�wer has the optivn ta either �i} deman� the return to Borrflwer of any excess payrr�ent, with int�rest �hereon at the Note rate �a ra�e equal ta the interest rate which sh�u1� have beer� stated in a timely notice}, or �ii} request that any excess payment, with interest thereon at the Note rate, be ap�lied as payment of principal. Lender's obligation to return any excess paymen� �tvith interest �n dem�nd is not assignable even if the Note is otherw�se assigned before the �emand for return is made. lnitials: � �-59�u ��5�$� Page 2 of 3 �