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<br /> _ -==--.-y�� ' • ADJUSTABL� RATE i�IDEFi � _W
<br /> � (1 Y�ar Troa�ury Ind�x-R�ts CAps�
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<br /> — THi8 AOJU37A9LE RA1E RtOER ta mide thfe ��h d+y�.����"w � �� ,Nd
<br /> ______________ _� la Incorporatad Into and ehaU bs deemed to amend and suppttment the Mortqa�c,Deed of Truet or Seouily Oeed(th�'8�aurity In�ttum�nt')
<br /> ot the ume dnte qlven by the u�dersi9ned(th�•BoROwK")to seaun Barowa'e AdJvotabta tiato Nota(tho 'Note•)to�--� ��_ ____
<br /> "��. � „�Irat Fodoral�atdrt�a nn�d t e�rd,�RRel�tlon of Uncol —_ — —
<br /> ,�� (the'Lende�')ot Iho aame date and covatnp the properly deacdbad in the 3ecudty inetrument and loaatad st: �� � � -�'
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<br /> . ��.'�. (Proporty Addro6e)
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<br /> ,r�,• � 7HE N1�TE CONTAINS PROV18fON8 ALLOWIN� FOR CHAN06S IN THE INTERE8T RATE
<br /> � ���• ''"�-�'�'`� AND THE MONTHLY PAYMENT. THE NOTE UMIT3 THB AMOUNT TNE 60RROWER'8
<br /> ,1� ' ,�;�'.'.,,�.,.:..;, _, ;
<br /> ^k�:�_: �: �. •� INTEREST RATE CAN CHAN�E AT ANY ONE TIME AND THE MAX�MUM RATE THE
<br /> ' ' " BORROWER MUST PAY.
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<br /> - k- •• � AQOITtONAL COVENANTB. M addiNon to the covenants and sgreerr�ents made in the 3ecudry Instrument, Borrower and Len er a
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<br /> �;', , � covenant and agree ea fotlawa: �-- --
<br /> _ _`..___.____._. � INTERE8T RA'i'H AND MONTHLY PAYMENT CHANCi�8
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<br /> . The Note providea tor an IniUal interest rete of 4.290 96, The Note providea tor changes in the intetest rste and the
<br /> '�• � monthly payments, as followe;
<br /> � �� � �' 4. INTEqEST RA7E AND MONTHLY PAYMENT CHANGES
<br /> - � .. ', � (A) Change Dates Ap�i� 1995 ,and on that dey �.T='�
<br /> � The intereat mte�w111 pay may ahange on the flrst day ot � ___
<br /> � " evey twefRh(121h) month tharc3after. Eaoh date on whloh my interest rete aouid ohange ia cailed a"Change Date'. _-----
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<br /> , (e) 7he Index �+���
<br /> °� • . 68ginning wiih tiie ilrsi Changs Data,my lntere9t rttte wll!h?haaed on an Index. The'Index' Is the monthly everage yleld on Unfted ,;
<br /> States Treasury secudllea ad�uated to a eonatant matudry of one(1)year,as made avaltabie by the Federel Reserve Board. The most re� �.,
<br /> cent Index flgu►e avallebie ea ot the date tortyfhre(45)daye before eaoh Change Qate is ceYed the'Curtent Index". ?"�.. _,_
<br /> It the Index Is oo bnger avaiiabie,the Nota Ho�der wlil ohoose a new index whioh is based upon comparabie IntortnaUon. The Note •,�:�_
<br /> �._:,_—.'_..___:__ -� Hnider wili aHe me nodce of thia choice, .
<br /> (C) Calculetion of Ghanges 2 ei90
<br /> <> � � Betore eaah Change Date, the Note Holder w�l calculate my new Intereat rate by adding �
<br /> ' percentage points to the Current Index. The results ot this addiUon will be my new interest rete untN the , �
<br /> � � � next chenge dete. 3ubject to the Iimlts steted in Seetlon 4(D)be�ow,this new amount wili be my new intereat rete until the next ��_
<br /> .' ' Change Date. -
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<br /> 1_ The Note Hader wlll lhen d�tertnfne the amount oi the monthty payment that woWd be euHlcient to repay the unpaid princlpai that I am ���y�
<br /> , expe�ed to owe at the Change Date in tu�l on tho maturily date at my new Interest rete in substuntially equat payments. 1'he result of this ��i�
<br /> eatcuiation wltl be the new amount of my monthiy payment. ,:. .,..+y�f'
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<br /> (D) Um(ts on lnterest Rate Chenges .��•�'•�=''�= �--
<br /> � ' The Interest Rate 1 am requUed to pay at the flrat Change Date wui not be greater than g 28Q �� '��
<br /> Thereallor, my interest rate wNi never be Increased or decreased on eny atngle Change Date by more thaa 1•9gfl ,y
<br /> � perosntage potnte from the rete of interest�have been paying for the preceding tweive(121 months. My Intereat �i�•�
<br /> ' rete wlll never be greater then 9 990 �. •�
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<br /> (E) Eifective Date of Changes ��
<br /> �� My new Intereat rete wiA become etfeotive on each Change Date. 1 wlli pay the amount oi my new monthy payment beglnning on the
<br /> flrat monthy payment dete efter the Change Dato untli the emount of my monthy payment changes again.
<br /> . . (F) Nottce of Changes
<br /> • The Note Hotder wili deiver or mell to me a notice of any chenges in my interest rate end the amount oi my monthy peyment betore I
<br /> r, �, � the eHeetMe date ot eny change. The notice wlll lnelude intormatlon requlred by Iaw to be given me and atso the titie and telephone
<br /> number of a persdn who wYl anawer any question I may have regarding the notice. `
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<br /> • ' MULTISTATE ADJUSTABIE RATE RIDER-ARM S•2 •s��yi�Fa�����y •Fannfe Mae/Freddie Mac Uniform Insttument (FF�L Mo� 3185
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