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<br /> .�'�±'/ • ' � � �faM �1 0117�0007L . -
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<br /> . M • ' A�TUST'ABLE �tATE �ER
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<br /> n�at�aurr�.a�u►rt�r�.ar ir s�r�+o►d �ar��. �s ��� � � � �••d
<br /> �.�_ idl b�d�w+d b��d wd w�pplNwt tM liiwy�/�,u�i oF lnrt ar i�riq►GMd ii�"S«�wity iu.�t�Y'f d sb.:.r.�� --
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<br /> THE NOTE CONTAIN�PROVI810N8 A�.tQWIN10 FOR CHANOES IN THE INT�REST RA,TE AND THE
<br /> MONTHLY PAYMENT. THE NOT'E UMRS TH�AMOUNT THE BORROWER'S IM'EREST RATE CAN
<br /> CHANOE AT ANY ONE TIME AND THE MAXIMUM RATE THE BORROWER MUST PAY.
<br /> ADDI110NAL OOVFNAN'!'S.In addidoa to tha coveo�ats aod asreemeat�nude in We Socuelty ine�m�ay Bawvrer aad Lea�les
<br /> fu�liret covea�at wd a�tee a�folbws:
<br /> A. INTFREST RATE AND MONINI.Y PAYN�NT CHAN(iES
<br /> The note provlda for an IoiWl laterat t�te of 6.700 �.1be Note providea fa ch�a�ea in tha intrarst
<br /> __ — nte aad the moathlY P�Y�+►�►.as foilows:
<br /> - 4. IIV'[FRFSf RA1E AfJQ MON'IHLY PAYM�.'[�Tf CHANf3FS --- .
<br /> (A) C:htnEe Datea
<br /> '-�i 'ibe intarst tate I will pay may chaaac on thn tirst dry of ��t .�L 1998�and on tlut day every 12th monih
<br /> thereafter.Fich data on which my latenst rata could chrn�e is caUed a"C6�a�e Dato." �_
<br /> -•`,+M (B) The Index �"'_
<br /> F:�"_ �".
<br /> =�;.;.: �,, geglnning wltli the titst ehange Dau,my intarest rata wil]be based on an Indox.The"Iadea"ls the weekly sverage yield ar Udud
<br /> Stat�'l�asury Sec�uidea sdjutted to a constant mapuity af 1 year,as made avdl�blo by the Federal Rescrve Bo�nl.'lhe most t+ocxat
<br /> ��'�� Iadex figun available aa of the date 4S days bafac each Change Date is csUed tbe"Cuaent Indeu."
<br /> ]r": •
<br /> `•!:: � ff the index is no loa�u availsble�the Nota Hddor wW choose a n�w index whicb is baeed upon eomp�rable lnfottmd�.'Ihe Note =.
<br /> +': ``� Hoider will�ive me aodce of this cboico. =`'°:
<br />-_�'+� � (G� Glculadon of Chauges '1�]1I�D '��
<br /> _• •�•,
<br /> ';::':;.: Safore sach Gtsnagt L�'�te.the N��Hot�kr wUl aaleulau my new interest rau by addinR P�ntage points( Z.750 9b)
<br /> . «�',...,�,.�;. 'Y,���� to�he Cutnut Index.Tt►e Not�Holder wlll thcn tound thu resolt of t6is addltlon to We noat�e.0 one-cighth of one Fierceatsge point �.
<br /> • ,r.-..,fit''�.:..�,S�ss,.
<br /> � ; .. p. (0.12S9b).Subject to the limita stated in Seodon 4(D)bolow.tbis munded�mouat will be my aew Intereat rate untll tIu uezt Cdange Date. __
<br /> �,;t���;,�;',�i.E�,r�;,,,��;,.'.;.
<br /> -' •F`'�:�` ' ��.`'.'.��'•^,. .:�� 'llie Note Holder will Wca detemnlne the amount nf thu monWly paymeat that would be sufficient to repay the�mpaid principsl that I
<br /> -:'+ ''�'�"'"'' .° '''-; am expecud co owe at the Chaage Aate in full on the mnwc3ty daa at my ncw interest rate!n subscat�dWY equal payments.The rosult of
<br /> _ ..�._,.. ..
<br /> '}- ' th�s calculadon wIU be the new amount of my monthly paymen�
<br /> °1i�•`'`', :. . (p) L9mits on Intetest Itate Chaa�es
<br />— ry. , � —
<br /> ,�._ ;1: ''.,. �:=:,-
<br /> � -• . � 'Ibe idterest rau I am rcquircd w pay at the fitst Chruige Date wtll not be greacer ttw� 8.700 '%or les,s than �.700 yG.There-
<br /> after,my interest rate will never be increased oc decreuscd on any single Ch�nge Date by more tlw► Rf� percentage points( 2.00Q ��-.'
<br /> '� ?i)from the rata of lnterost I have been payiug for tha preceding twclve months.My interest rata will aever be�reater thau lZ.70�r. -;
<br /> '' ' (E) Effeedve Dato of C6anges
<br />;� , My new intercst rate will become effectivc on euch Chnngc Datc.I will pay th�azrwunt ot my new monthly payment beginning on the �n'
<br /> �_.
<br /> tirst monthly payment date after the CdAnga Date undl tho amount of my ma�thly payment changes again.
<br /> (�Natice of Changes �'�,
<br /> �'�`�'•,. � • 'Il�e Note Holder will dcliver or mail to me a nutica of any changes in my intctc,�t rate and We amouttt of my monthly payment before �
<br />.--. ' � ihc effectivc date of any change.Thc notice will include iuformation required by law to be given me and�Iso the title arid tclephone �: ._
<br /> .:.;_,• ::.
<br /> ,:�;:s,,;.•: nwnberof a person who will answcr any question 1 tuuy]wve tegarding the notice. °"'�
<br /> ��_'
<br /> � ' B. TRANSFER OF THE PROPERTY OR A BENEFlCIAL INTEREST IN BORROWER F=�•
<br /> �?�>}e' Udifotm Covenant 17 of t6e Security Instnunont is�tnonded to ccad as follows: t' "
<br />_ �- ;;:�''� 'I't�u�sfer of the properey or a bcneticial intarest in boerower.If all or any part of the property or any interest in it is sold or a�wfemd h. ,
<br /> � • (or if a beneficial interest in Borrower is sold or transfernd and Bocrower is not a natutal petaon)without Lcnder's pdor writtcn conscnt,
<br />`.�;. Lender may,at its op[ion,nquirc immediatc paymonc in full ot�li sums securcd by this Security lnstnunent.Lender also shall not exercisc t
<br /> t;�. this option if:(a)Borrower causes to bc subm{tted to I.ender information rcquired by Lender to evaluate the intcndcd traiuferce as if a new
<br />_ �a;., � •� � lou►wcre being made to thc transfet+ce;and(b)La:nder reasott�bly detecmines that Lender's sccutity will not 6e impaired by the loatt
<br />_ • assumption and that the dsk of a breach of nny covenant or agmement in this Security Instrument is acceptablc to Lender.
<br /> i r� ` To the extent permitted by applicablo law,L,ende�may ch�rge a reasonable fee ac a condition to Lender's consent to thc loan .
<br />��� asswqption.Lender may also rcquire tha transfetee to sign an assumption agreement that is acceptable to L.ender and that obligates the
<br />�� n�ferec to keep all the promises and agt+eements mnde in thc Notc und in this Security lnvwmrnt.Bottower wiU continue to be
<br /> � obligatcd under the Note and this Sccwity Guwment unlcss Lendcr relca�Borrowcr in writing.
<br /> '�P% � If Lender exerciscs the optioa to require immediatc payment in full,Lender shall gtve Borrower nodre of accelentton.T6e not{cc
<br /> C
<br /> . . , ehall providc a period of not Icss than 30 days from thc date thc nwicc is delivcred or mailed within which Borrower mu�t pay all swn�
<br /> ,._, secuer.d by this Security lastrument.If Botrower fails to pay thwe sums prior to the expiration of tbis period,Lcndcr may invoke any
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<br /> �," �� BY SIGMNG BFlAW. w rrower accopts and ngrees to the terms and covenants contained in this Ad jusmble Rate Rider. •
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<br /> j_`�,. 1� . . _ :� GN-t i/ Oi •--�– (Seai) L -�'�y�c� L � �� �_ '"� i� lSeal) .
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<br /> , /Sign OrigisalO�rlyJ
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<br /> . , MULTiSTATE AOJUSTABLE RATE RIDER–ARM 5•2–Sinpl�Family–
<br /> ��::y�.. ' • -� Fanni�M��/F��ddi�Mao Unifomn Instrum�nt Form 3111/3/85 EC•3002(REV 03/93�
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