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i F ADJUSTABLE RATE RIDER a9� 103994 THiS ,ADJUSTABLE RATE RIIIER is mado thi*3,t ar _day of T1111 V , l9$9 and is Incorporated into and shall be deemed to amend and aupplema lf, the 1ltorgags. Deed of Trust or Security Deed (the "Security instrument ") of the same date given by the undersigned 01)ft "borrower ") to secure Borrower's Adjustable Rate Note (the "Note") to t= txiMitd_ -F ilRQwi_ SAV1lrLrS & IXAN AqsnrTJTTnN (the "Lender ") of thessms dateand covering the property described in the Security instrument and located at: 3552 age __AMIE GEM Igr.=. KA 04"wrty Adder••) THE NOT$ CONTAINS PROVISIONS ALLOWING FOR CHANGES IN TIIE INTEREST RATE AND, TIM MONTI#LY PAYMENT. THE NOTE LIMITS THE AMOUNT TILE BORROWER'S INTERIn. RATS CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE THE BORROWER MLTST PAY, ADDITIONAL COVENANTS. In addition to the covenants and agreements made In the Security Instrument, Borrower and Lender further covenant and agree as follows: ' 4. INTEREST RATE AND MONTIMY PAYMENT CHANGES (A) Change Dates The interest rate I will pay may change on the first day of Atrguet ,19_20— and on that clay every 12th month thereafter. Each date on which myr,�terest rate could change is called a "Change Date." (B) The Index Beginning with the first Change D4tb, my interest rate will be based on an index. The "Index" Is the final average contract interest rate on conventional, loans clviA$ rtr purchasing previously occupied homes, by all major lenders for that month, as made available by the Federal Home LeaatrP gmk Board. The most recent Index figure available as of the date 45 days before each Change Date is called the "CurxiAt'Index." If the Index is no longer: available, the Note Holder will choose a. new index which is based upon comparable infeinmflon. The Note Holder will give me no!ti6o ;df this choice. - -- tVr a,..c.a=utmvi%iaansas- - Before each Change Date, the Note Holder will calculate my new interest rate by adding 17011i1TREN i1IMRRTH percenteV- points to the Current Index. The Note Holder will then rrusy?4 the .tinait of this au6iti40 to the nearest one- eigj;th of one percentage point (0.12570). Subject to the limits stated in Section 4(b) 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 urA*d 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. (D) Limits on Interest Rate Changes The interest rate I am required to pay rat t;f:e first Change Date will be no less than the current index but no more tharr, In % points more than the current: Ectf ex rate. Thereafter my interest rate will never by irrcreared or.decreased on any single Change Date by more than WE. --A wsT t; tarrt:t'Fi<�* (_ )Tram the rate of interest I have been paying for the preceding twelve months. My, interest rate will never be greater than 14 - 63 ry0, (E) Effective Date of Changes My new interest rate will become effective on each Change Date. I will pay the amount of my new moisthly payment beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again. (F) Notice of Changes 3j The Note Holder will deliver or mail tn, ire a notice of any changes in my interest rate and the amount of my monthly payment before the effective date of any charge. The notirm will include information required by law to be given me and also the title and telephone number ot'a person wrho will answer any question I may have: regarding the notice. B. TRANSFER OF TIIE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER Uniform Covenant V of the Security Instrument is amended to read as follows: Transfer of the Property or a Beneficial Interest in .Borrawer. 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 thix Security Instrument. However, this option ah&ll not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instriment Lender also shall not exercise this option if.- (a) Borrower causes to be submitted to Lenrier information required by Lender to evaluate the intended transferee as if a new loan were being made to the transferee: and IN Lender reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of a breach of any covenant or a=reeesent in this Security Instrument is acceptable to Lender. TO the @Aunt permitted by applicable law. Lender may charge a reasonable fee cis a condition to Lender's ! consent to the loan assumption. Lender may also require the transferee to sign an assumption ageernent that is L acceptable to Lender and that obligates the transferee to keep all tt,e prnmises and a; reemrnt mr:de in t1 a [tiatp and in this Sertr;•_y Instrument Borrower rill continue to lie ot;L;;.-itcd under tl a Nf,te and ti-it- Security Instnnnerit unless Under relexced Borrower in writing. 7 t i —i- _.