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MULTISTATE ACMUSUBLE RATE RIDER —ARM 5/1- Sr.G,te Farmly form 3.85 Nt; in.MLNDIMY-440e1 . ADJUSTABLE RATE RIDER .1O5O� THIS ADJUSTABLE RATE RIDER is inade. ;his 31st• Lay otr...... Ailk nst•• »..... ...» t9 .� .. and is »Security - - _ i.,,,,, incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or (the 'Sttewity ` Instrument ") of the sane datc'jiven by the undersigned (the "Borrovr r'� to secltre Borrower's Adjusnbk` ` ftito Note (tlt "Nate "3 ttka, tit n - .....: n.......... .. »:. , ».. ..., ... Lille "I ceder" 1�Af.b -_ '� -- -- fife 5excuntT trutaetttr and located 41ti - - �' .............. ` (lropeny Adtraq..,.,... »:. ».... ..... »....... THE NOTE CONTAINS PRO1nS10NS ALLOWING FOR CHANGES IN THE INTEREST RATE - AND, THE MONTHLY PAYMOlT. THE NOTE LIMITS THE AMOUNT THE BQRROWEi'S . " • _ IIiT AW RATE CAN CHANGE AY•ANY ONE TIME AND THE MAXIMUM RATE THE BOR. R04 M MUST PAY. Ai 01TIONALCOVEMINITS. lnaddition to the covenants and agreements made in the Security Instrument. Borrower, and Leader further covenant and'agree as folhawr, A. iNi AWr RATE AND MONTHLY PAYME 4T CHANGES - .- ' The Note.piovides for an initial interest rate of .. »$s 50 ....96. The Note provides far Changes in the interest rate and the monthly payments. as follows: ' .. 4. - INTEREST RATE AND IVIONTHLY. PAYMENT CHANCES (A) Cbage Dates ' The interest rate ,I will pay may change on the first day of ....... . ,,,,,•••,••• 19...2L, and on that day every 12th month thereafter. Ea& date on which my interest rate could change is called a -Change Rate." (e) Tltr Gtdex _B�. wah_3h� -'= - IIinnsng- - fast - interest= rate- will - be- basetf on- an- ladcx: Tha,"Iudcx'- ivthc* ekry - - - -- - average yield on United States Treasury securities adjusted to a constant maturity of 1 year. as made available by the Federal Reserve Board. The most recent Index figure available as of the due 4S days before each Change Date is called the "Current 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 Chases ` Before each Change, Date. the Note Holder will calculate m new interest rate b adding 8 o and One �• »••••1 11 .................: percentage points (.....2..S.SL..%) to the Current Index. The Note Holder will then.round'the result of this addition to the nearest one-eighth of one percentage point (0.125%). Subject to the limits stated in Section 4(Q) below, this rounded amourtit 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 in substantially equal payments. The result of this calculation will be the new amount of my monthly payment. ' 1 D1 •Limits on Interest Rate Changes 1`he interest Tate 18M required to pay at the first Change Date will not be greater than ....... 9,►SQ...........% or.less than ........2. M .........%. Thereafter. my interest rate will never be increased or decreased on any single Change Date by more thanone percentage points (I.O.V from the rate of interest I have been paying for the preceding twelve months. My interest rate will never be greater than A3..5P.........95. ; (E) Effective Date of Changes My new interest rate will become c1lective on each Change Dale. i wVJ pay the amount of my new monthly payment beginning on the first. monthly payment date after the Change Date until We amount of my monthly payment changes again. t (F) Notice of Changes ' The Note Holder will deliver or 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 by law to be given me.and ' also the title and telephone number of a person who will answer any question I 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 &nefscial 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.] 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. 'However. this option shall not be exercised by Lender if cxercisc;s prohibited by federal law ' as of.the date of this Security Instrument. Lender also shall not exercise this option if: (a) Borrower causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if anew loan were being made to the transferee: and [b) Lender reasonably determines that Lender'; security will not be impaired by the loan ' - as'sumption and •that the risk of a breach Of .811Y covenant or agreement in this Security Instrument is acceptable to Lender. L +a The Index figure available as of the date the initial interest rate was determined for this loan was .IA5........... v'o• r- Borrower's Initials Co- borrower's initials a � MULTISTATE ACMUSUBLE RATE RIDER —ARM 5/1- Sr.G,te Farmly form 3.85 Nt; in.MLNDIMY-440e1 .