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• ---- --- Te�t,a.� •.- ,�.,, � � ' _ . �. �• � ,Yl? .� _ .._.....__ ---..a�.r......r r� •. •� oY Vi� ADJtISTABLE RA"I`E RIDER � y tt Ya�Treiwry I�x—R�tt C��c—�ix�A R�t�Co�erda O�lial 94'�1��7 THIS ADJUSTABLE RATE RIDER i:m�de thi: .....1,17�iday of.........E�ER[lAR1C................... t 9 9�t.....ond ia _� incorporatod into and sh�ll bo deemed to Amend and�upplement the MortQaga,Dad of Trust ar Socurity Doed (the "Socurity Instrument")ot the same date Riven by the undertigned(the"8orrower") to secure Borrower's Adjustable � R�to Noto(the"Not�")to.....i�fN.1IS.J�Z�GAt'.i'r.�00RA�ORAT7oi�1............................................................................. .,� ..............................................................................(the"Lender")of the ume date and coverins the proporty dacribed in R• the Security Instrumcnt md locatod at: � --- --= —�--��__ .........a,��..��A�1..��rc a..4��..��.c...�r.r..6��.��........................... ---__ ....................................................... �Ptopetty AddreuJ �:X��-;r'�i�v�� -°"",�°�"'�.�•� THE NOTE CONTAINS PROYtS10NS ALLO�WING FOR CHllNaES IN THE INTEREST RATE - -- �- T-`--.c-' ADJUSTABLE iNTERESTY�A�ENT.CJIN CHIINCE AT AN OtrE TMAE AND�AXIMIIMI ��;��'a:�s:�:��tw -�'��"L:�"°s'--L1J FtATE THE 60RR01NER UAIJST PAY. THE NOTE AL80 CONTAINS 7'HE OPTION TO CON� �:e71d,,�� ;� "'� VERT TFIE AD.NlSTABLE RATE TO A FIxED RATE. .,.,.;�p, ��.,o,tvT-.�,rs ' ' " '''^`.-`'' ' ' ADWTIONA4 COVENAN75. In addition to the covenanu and agreements made in the Sxurity Inst�ument.Borrower n V�G -- �nd Lender funher covenant and agree os follows: A. ADJUSTABLE RATE ANO MONTHLY PAYMENT CHANGES ' The Notc provides for an initial interat rate of.3..7.5QQ0.�. The Note pravides for chan�es in the adjwwble • interest rate and the monthly payments,as follows: `" ''' 4. ADJUSTABLE INTEREST RATE AND MONTHLY PAYMENT CHANGES .. • � (A) C6u�e D�tes The adjustable interest rate 1 will pay may change on the first day of........l�fARQi..........................19...�5..and on that day every 12th month thereafter. Each date on which my adjustable interest rate could chan�e i:called a"�han�e • Date." _ .. . .. . (B) T4e I�dex _____________ �o��ng w;tb�he first Change Date, my adiustable interest rate will be based on an Index. The"Index"is the weekly average yield on United States Treasury securities adjusted to a constant maturity of 1 year.as made avaiiabie'ty •• the Federal Reserve Board. The mact recent Indcx figurc available as of the date 45 days before es�ch ChanQe Date is cAlled the"Current lndex." If the Indcx is no longer uvnilable, the Note Holder wiU choosc a ncw index which is based upon comparable information. The Note Holder will give me notice of this choice. (C) Cakultttia�ofCW�ees 2 75000 � Before each Change Date.thc Note Holder will calculate my new interest rate by adding ...........a....................... ; perantage puint�(..2..7;OAO%�,)to thc Cutrcnl lndex. The Note Hokier will then round the rexult of this addition to r i� the nearest one-cighth of onc perccntagc point (0.125`2.). Subject to the limits stated in Section�(D) below. this ,.`� rounded�mount will bc my ncw interest rate until the next Changc Data The Notc Holdcr will then dctcrmine the amount of the monthly payment that would bc sufficient to repay th� � unpaid principal that 1 um cxp�:cted to owc at thc Changc Datc in fuil on thc maturity datc at my new interest rate in .. substantiaUy eyual payments. Thc result o(this culculation will bc the new amounc of my manthly payment. . ' '. (D) l.imtts on IatKest Rqte Changes - The interest rute I am requircd to pay at thc first Chungc Date will not bc greater than........5..750f?�Q...%or Iess than ..,,,,,.,,�.�7r�p�p?G:. Thcrcafter,my adjustable interest rate will nevcr tx:incrcaced or dccrcased on any single Change - Date by more than two percentage{wints (2.0'�) from the ratc of interest I have bccn paying for the preceding 12 � ; � , months. My intcrest ratc will nevcr bc grcuter thun ......y,,.7.5U!}�:.which is called the °Maximum Rnte". - ; (E) Eflective Uate ot ChAnges � , My new intcrest ratc will become ctTectivc on cach Changc na�c. 1 will pay the amount of my new monthly payment _ � beginning an the first monthly paymcnt dutc aftcr the Chungc Datc unti{thc s�muunt of my monthty payment changes . � again. - � (F) Notice of Ctum�e� : The Note Holder will dclivcr ur mail to mc a noticr of:�ny chunFcs in my adjutitablc intcrest rate and the amount of „ my monthly paymcnt bcforc thc ctTcctivc datc of any changc. Thc noticc will includc information rcyuircd by law to be . given me and also thc titic and tcicphone number of a persun who w•ill answer any yuestion 1 may huve regarding the � notice. B. FIXED INTEREST RATF.OPTION The Note provides for thc Horrower's option to convert trom an ud�ustable interest rate wich interest�ute iimits to a fixed interest ratc,as follows: � S. F'IXED INTERFST RATE CONVERSION OPTION 1 " �; (A 1 Vp[ion io iameri iu�irav naic ; I have a Conversion Option that 1 can excrci�c unlcs.I am in default ur this Se�tion 5(A)will not permit me tu du so. The"Conversion Option"is my option to canvcrt thc intcrest ratc 1 :►m rcyuircd tu pay by this Note from an adjustable • ` rate with interest rate limits tu thc fixed rate calculated under Sectiun SlB) beluw. �� The comcrsion cun only take pluce un a d•rtc(s 1�pe:ci6ed b}•thc Nutr Holder during the perioci bcginning on the first ' Change Date and ending un the lifth Change Datc. Each datc on which my adjustable intcrest rute cun convert tu the new �' fixed rate is called the"Cunvcr+ion Date." ! If 1 want to cxercisc thc CConvcrsiun Uptiun. 1 mu.t hrst mect certain cunditiuns. Thusc cunditiuns are that: (i) l � must give the Notc Hulder nuticc thut (want tudo.u; (ii1 uh the Conver+iun Date, 1 must nut tx:in default under thc � Notc or the 5ecurity In�trument; (iii) by:�d•rte spcciticd bv the Notc t{ulder,l must p�y thc Note Nolder a cunversion � MUITISTATE ADJUSTABLE RATE RIDER—ARIN PIAN 57�—`.:��!• � ��—F�nnN Mu Unlform Instrum�nt Form 3118 /2 87 � ; utMC�tt�lU��YS � e _ _