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•_� ... .. � 1�� . �isr. ___-,� .,��,;►..; ' ; . -� - _...:�:_ .3 � — - - .: � � . - — ."n'"� �f�S;,CI)� � � � ADJUSTABLE RATE R1DER 94•�� — (1 Ytsr Trtawr I�it�c—R�1�Cyt—/Imi R�lt G�rtrtio�Ofll� � � „ THlS ADJUSTA�LB RATB RIDER i�m�de this � t A '�y°t !.b aa rt ' I S► � �nd!�incorpor�ted Into and thRll be damed t�anxnd�nd wpplem 1 the MaF{a��,DMd ot Tru� _ _ o��urtty Deed(the"Security in�trument")of the same d�te�iven by the under�iNd(tht'•Bo��owsr")to Kcur� — • Bor�ow�'�Adjwt�bb R�t�Nole(the"Note")to � ��a.�e.�a�Y�tRI�q��o'�P¢'�'�r1��ie�ecu�Srity l�utrumeat and Iocated�t: �e� •��,�„a�,•�or sn� �. ---�u,��.� . __-_a'i:2A.`i.+� -�'��`�""" b220 Q 11TY S�Rt�T GR��D IsL1MD� 1� i8803 —---_=°LL�.;,�11 �Property Addreu� ---- - �-��,r.i - =� �'""��'�` THE NOTE CONTAINS PROVISIONS ALLOWiNO FOR CHANOES 1N THE INTEREST RATE -- ---`�� = � �� AND THE MONTHLY PAYMENT. TNE NOTE UMIT8 THE AMOUNT THE 80RROWER'8 �"—_'- f.��i�?i�}�u�� '� • ; ' f.��.;�.. •• ,ADJUgTABLE INTEREST RATE CAN CHANOE AT ANY ONE TIMAE AND THE MAXIMUM "`"""�"'v � RATE THE BORROWER MU8T PAY.THE NOTE AL80 CON7AIN8 THE OPTION TO CONVFAT �s:M...'L �.;.H, :-` ° �''�� " �` •�"�}' THE AOJUBTABLE RATE TO A FIXED RATE. .�� .:. , �.. :. :,:�;.�.x_.,.:�,.�.,l; . _..,,._; . ... . . '�'` =--: . � -`'�" ADUITIONAL COVENANI'S. In�ddition to the coven�at�and�{reamenu made in the Secur(ty Inarument� ' Borrowcr�nd Lender further coven�nt And aaree�s follows: " A. ADJUSTABLE RATE ANU MONTHLY PAYMENT C1IANCES . The Note provides for�n intti�l inte�at rate of 4.5000 96. The Note pcovlda for ch�n�a in the Rdju:table interest rate nnd the monthly payment�. u follow�: 4. AUJUSTAQLE INTEREST RATE ANU MON'[11LY PAYMENT CHANGF.4 • (A) Ch�nQe Ddea The idjuatable Intecest r�te I will pay m�y chan�e on the fint day ot March . ' 19 9 S .and on that day every l2th month thereafter.Each d�te on whtch my adjustable interat�a�e could chan�e is c�lled i"Chan�e Date.'• --___=--_ -- � • -- (8) The Index — Be�innina with the flrst ChanQe Date,my adjustable inte�est r�tte will be b�sed on�n Index.The"Index"ts the weekly averaQe yield on United States Treasu�y securities adjusted to�canstant maturity oi'I yes�r� as m�tde�v�tilable �_ by the Federal Reserve Board.The most recent Index ti�ure avail��ble�s ot the date 43 daya before e�ch ChanQe Date � is called the "Current tndex." �F� It the lndex is no longer availvble� tlu Note Holde�will choosr�t new index wh(ch is b�sed upon comp�rable i�� � . informatlon. The Note Holder will�ive me notice of tliia choice. �'� (C) C�Icul�lton of Ch�n�a {�� ' Before each Chan e Date,the Note Holder will calculate my new Intercst rate by addin� M �•�50 Q percentage point:( 2.7 5 0 0 •y(�)to the Current Index. �.--- � The Note Nolder wtll then round the result of this pddition to the nenre:t one-ei�hth oP one percenta�e point(0.125li). :��-� -' ! 5ublect to the timits:tated in Sertion 4(D)below, thi:rounded amount wNl be my new interat rtte until the next � � Change Date. r��-: , ; The Note Holder will then determine the�mount of the monthly psyment th�tt would be su(ficient to repRy the �- ! unpaid principat thnt 1 am expected to owe At the ChanQe Date(n tull on the m�writy date at my new interest rate ��^` � i�substantially equal payments.The resulE of this calculatfon wtll be the new amount oF my monthly payment. �:.,.., � tD) Wmits on Intereat It*te Ch�ngea 6.5000 ' Tlie(nterest rate�I.�be�uired to pay at the lirst ChanQe Date wlll not be�reater than !6 or less tl�an 4'i.Therealtcr�my ad ust�ble interest rate will never be increased or dcere�sed ��! � on any single Change Date by more tlian two perceataQe pofnts(2.0!'i)(rom the rate of interest 1 have been payin; . ' � for the precedinQ 12 months.My interest cate will neve�be�reater th�n 10.5000 �fr,which it called �. the"Maximum Rate". p � ' (E) Et[ective Uate ot Cban�es �•` E � My new interest rate will become effective on earli Clian�e Date.l will puy tl�e amoun�ol'my new monthly payment . beginning on the first monttily paymcnt date after ti�e Cliange Date until the emount of my monthly payment ch�nQes -; again. . � (F') Nol(ce ot ChAnges � • The Note Holder will deliver or mail to me a notice of any changes in my aJjustable interes�rate and the amount • �I of my monttiiy payment before ti�e effective date of uny cl�ange.Tl�e notice will inrluJe in�ormntion required by law . to be�iven me And also tlic title and teleptione number of n person wi�o will ans��er any question 1 may have re�arding the notice. �' I3. FIXEU INTERFST RATC UI'TIUN � -... •:�--�-- '�'- n_'-�...��..._.t....•......«..�.�f�..«. ..«...�t..��.Mt�t«��.�.� ..��...i�A t«��.�.!...•�ti...L. .. . TL_\t_�__ . " ' - - i l�G 1\VlG FlIVNIVGA IVI li1G YV��V\t{�1 .1 VF1{tV��tV VVIIt�.�\��V�� 1��V)YO�YV�V 11�\r�V�� \v �� \r��i\�w��i �� to a fixed interest rate.as foilows: , �. S. FIXEU INTERFST RATE CUNVEItS10N UPTIUN } (A) Opqon !o Converl to Fixed Itate i 1 have a Conversion Optton tiiat 1 can exercise uniess I am in defautt or this Sectton StA? W�� not yxrmi� me � to do so.T'he"Conversion Option"is my option to convcrt the interest rate 1 am rcquired to pAy by this Note from an udjustable rate witl�interest rate limits to the fixed rate calculated under Section S(B)betow. The conversion can only take place on a date(s)s�xcified by the Note Holder du�i�g the perfod be�inninQ on tlu tirst Change Uate and e��dinQ on the fifth Cl�ange pate.E�ch date on wl�ich my adjustable interest rate c�n convert . . to the new fixed rate is c�lled the "ConversEon Uate." MUlT18TATE ADJUSTABLE RATE RIOER-ARM PLAN 67-Sinpte F�mily-FMnb M��Unitonn Imltum�nt Fam 311i 12/i] �T a�RA�,+�ti vM►4o�TWnr ronM{• ��7�tf��00 ��ao�s��7�� - —t --