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ADJUSTABLE RATE-RIDER • SO 1050"� r (I 'Yesr Tmttwlr h>+ex --Rate Gam) - THIS ADJUSTABLE RATE RIDER is mark this ...310& day. of........ .... ind is ` incorporated int�sttdth "t °deemed -tu attend and suppTerterii the Mortgage. Dccd of Trust br Security Deed (the "Security- Instrument "} of the sine date given by the undersigned (the "Borrower") to secure Borrower's Adjustable , _ Rate Note (the -*NOW) to ... ..Jae.B�,.,ap1�.Ne �,..Nxtinal..Al m ....... _ ............ ° .... .iths" Lender`) ofthe same date and enver ,n[r6enre,�rtud,«a�, � ....................... ».... —one aRcurity lastrumertraanli licat at: .. ., ..�Et�3100.S�s:..W..i .�» .......... ....» ....Y .... .......... .... IAtort ddress.. ... » ....................... ......... G THE NOTE -CONTAINS PROVISiONS ALLOWING FOR CHANGES IM THE INTEREST RASE AND THE MONTHLY• PAYMENT. THE NOTE LIMITS THE AMOUNT THE 'BORROWER'S - INTEREST RATE CAN CHANGE AT ANY ONE ?IME AND THE MAXIMUM RATE THE 8011= ROWER t4UST PAY: ADOMON,at-t ovENAMS..In addition to the covenants and agreements madvin the Security instrument. Borrower and Lender further covenant and aEree as follows: A. • iNTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of .... 8,50. .... 96. The Note provides for changes in the interest rate and the monthly payments. as follows: 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The- interest rate I will pay may change on the first day of ........ SAptember .. ...............19...81.., and on that day every 12th month thereafter. Each date on which my interest rate could change is called a "Change Date." ( B) The Index JtPoinnins with th- fim- n - R < . Chat:oe Dater- stay - interest rate will be based on an- Itrdcx: 3hc iitsdea tsth�i+ree� _ - average yield on United States Treasury securities adjusted to a constant maturity of I year. as made available by the Federal Reserve9owd. The mosi recent Index - figure available as of the date 45 days before each Change Date is called the •'Curreol Index. "•• If the Index is no longer available. the Note Holder will choose a new index which is based upon comparable } information. The Note Holder will give me notice of this choice. (C) Calculation of Changes 1 Before each Change Date. the Note Holder will calculate my new interest rate by' dding .......y�ra,..>i>�.,p•- Hal.t .............:............ percentage points ,(IA5.0........%) to the Current Index. The Note Holder will then round the result of this addition to the nearest one - eighth of one percentage poini (0.1259'0).' Subject to the limits stated in Section 4(D) below. this rounded amount'will be my new interest 'rate until the next Change Date. The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that I am expected to owe at the Change Date in full on the maturity date at•my new interest rate substantially equal payments. The result of this calculation will be the new amount of my monthly payment. I D) Limits on Interest Rate Changes , The interest rate l am required to pay at the first Change Date will not be greater than ...9.5.Q .............. or less than 1AN .................%. Thereafter, my interest rate will never be increased or decreased on any.singlc Change Date by more thanone percentage points (1.02) from the rate of interest I have been paying for the preceding twelve months. My - interest rate will never be greater than .13..5.0.......76. (E) Effective Date of Changes My new interest rate will become ell'ective on each Change 15atc. I will pay the amount of my new monthly payment beginning on the first monthly.payment date after the Change Date until the amount of m month) again. Y y payment changes (F) Notice of Changes t The-Note Holder will deliveror mail to me a notice of any changes in my interest rate and the amount of my monthly payment before the effective date of any change. The notice will include information required bylaw lobe given me and also the title and telephone number of a person who will answer any question 1 may have regarding the notice. ' 8. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER Uniform Covenant 17 of the Security Instrument is amended to read as follows: Transfer of the Property or a Beneficial interest in Borrower. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may, at its option. require immediate payment in full of all sums secured – by This Security instrument. 110 wcvcr. this option shall not be durcised by Lender if exercise is prohibited by federal lay. as of the date of this Security instrument. Lender also shall not exercise this option it. (a) Borrower causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made ..to the trass-40m and (`v). Lauder teamvnably determines that Leflder s security will-nnt .�_im�i� aireri i,v -(be luau assumption and that the risk of a breach of any covenant or agreement in this Security instrument is acceptable to Lender. "The Index figure available: as of the date the initial Interest rate was determined for this loan ~vats .... 7 ;73 wo. Borrower's. initials iy Co- borrower's initials malisirm Awusirmu RATE RIDER —ARM 5IX– Str.Ve. Family Form 3.85 Ne ll16D tu0!!.tlT.s11�) • 1.. f` a- I J