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<br /> ' •. JQ� {'3. �'Ji iC�l) G��1��7
<br /> ,. ., aflAP�[t'I�S1JIt�A�NE 686�3 °',.�
<br /> ;� . �1DJU5'�'�189�1� RA�'E �ID�Fi ,���j,Qi�'`i,i�� ,r.�:�_�
<br /> � " (t Yeer Yreasury lndex-Rete Ce��j + �•.,x��.
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<br /> 7NI5 At)JU��PABLE HA�t F'►iD'c�{s r.ada thl���__d:Y et l��rr,�lhe!r __._._- ------�1954_.._.,� .end Is �`-':v .
<br />`! ' ;f ktCOrPtXllt�d hto�nd�Aal h� dwrtbd to�rf►end luid tuppfunint Q��MO(1GaQ�� DMd 01 TN�I 0�S9Cll�Ry DMd (111/"�1CUIKy IB6tfUt11M11') "
<br /> al th� uma dat� Okon by lhs und�rafpnnd (lhe 'Borcoxu') to aacurn Fiaraw�e'a Adjustabb Rito Nor (lM 'Not�') to �:-^.
<br /> . NK QPlA fl ISLAND _ —� _=_--
<br /> ��`M�,��(tM 'Lindo�")01 the Bcrr�O dab Ynd COV�rbp iM prapony ctesoribed�►tho S�curry �nswm�nt Nd bated a� __
<br /> 12 SWEE OOD DRIYE QFiAND 15LAND NE 88d03 �-
<br /> vropu��Aear.ss ----
<br /> � THE NOTE CONTAINS PROVISIONS AL.LOWING FOR CHANGE� IN TME INTEREST RATE
<br /> ANO YHE MONTHLY PAYMENT.THE NU`PE �IMO?S THE AMOUNT'PHE 6�RF#QWER'S =_
<br /> INTEFiEBT RATE CAN CHANGE AT ANY ONIE TIME A!1@ YHE MAXJNiUIIA RATE THE
<br /> BOiiROWER MUST PAY.
<br /> � . /ip01110NAL COVENAM&. In addklan to tha coVenants untl��a��a�.s r,:Cs t�tho�t�y t�estnesa_�►!,Ba+�ovv�►�nd Land�r turthx
<br /> [� cown�nt Nd p��s lo7ow�:
<br /> � „ J!. INTEAEST RA7E AND MONTHLY PAYMENT CWANGES �
<br /> � ' The Not�provides(or en InAic� Inlerest tate ot 8.750%. Yh• Note providos (w chrngas in th� htanst nte and tM nor.thb -
<br /> payme�►ts,ts foYOws:
<br /> 4. INTEREST RATE AND MnNTMLY PAYMENT CHANG�S
<br /> (A)Chan��e Datea
<br /> The htereSt nte 1 wiN pey maY chanpe on the 16t dfly o}JaRUaN .199G , and on thtt day w�y
<br /> 12th monl� the�eafter. Each dnte Qn wh�h my hterest rete could Change is eai�ed a'Chunpe Oata'. ��
<br /> (8)Tl�e Index
<br /> ' Beyinniny wRh lha frst Chen�e Oate, my hterest rata wW Ce based on an Index. The 'Index' Is the wesicy�vrn�ylNd orf UNt�d
<br /> States Tre�sury securRi� ad,�usted to n constant rtwWn'ty ot 1 year. as mada avaffabfe by the Federal Reserve Board. TM moat nant Ind�c
<br /> fgun avalYbte as of th�date 45 days betare each Chanpe Date ls calsed tho'Cunent Index'.
<br /> If the Index is no bnger evailebte, the Note Holdcr wi8 choase a new hdex wh�h Is based uDon cortWuBbf�hfo�rrwtbn. 7'�a Note
<br /> Holder wil glvs ma notkv o�thts chokti+.
<br /> ��
<br /> " (C)Galculatton of Changes
<br /> " Belore each Chanpe Date.the NoS�s HoWe►will Catcutats my new hterest rato by addiny T l�Itd 5Q0/10�0 ��t� �,.
<br /> � pp;��g� 2.50�Ax)to the Current Index.The Note Hotder witl then round the rosuk of this add�kn to lM ne�nst on�+tphtN ol �:
<br /> one percenteye poht(0.125�). SubJect ro the Itmks steted h Section 4(0)bebw.thts rounded emount wUl be my ne+v hterest nb unll the e T
<br /> . . �••--
<br /> ne�d Chanfle Dato. �,�—;='
<br /> ' Ttse Note Hotd�r wi then determhe ths amau�t ol tha ma�thy paymw�t that would be sutficient to repay the unpab erina�l thtt I em �. • :
<br /> ;y.
<br /> �ctad to owo at the Chin91��te h NI on tha rneturly dato�t my new hterest�n2e fn substanttaEy aqual paymenu. The resuR of thtt '_
<br /> • ca�urtbn w�l be ttw n�w�mcun! ot my monthy paym�nt. i
<br /> ���
<br /> � ;, (D)Limits an Interest Rete Chenges I --
<br /> h The hterest rate 1 am required to pay et tAe first Change Date wi11 not 6e greater Ihan 8.75096 or iess than 4.76016. I'�_
<br /> I
<br /> TRecaafter,my hterest rete w�1 never bo inc�ge58d or decreased on flny shgte Chango Date by more thnn t�++o pereen ffipe po l n t s (2.096) h4m F��
<br /> . � � the�aYa of intnrest I ha��a beon p�y1.�(or the precoding lwaNe months. My hterest rate wili n_ver be groater Ihan 11.76096. „
<br /> 'iF � � ,
<br /> ••.�.;..
<br /> • � (E)EHect6ve Da�e ot Changes I
<br /> • My new inter�sst rale w�l bocome ettectNe on oach Chango Dato. I will pay iho nmount of my now monthty paymont bogtnnhg on tho I
<br /> P ,,.' frst monlhy payment date efter the Change Oate unt�the emount ol my manlhry paymont c��n�es asah.
<br /> ° (F)NoUce of Changes j
<br /> Tho Not3 Nnlde►w01 dellver ar mafl to me n notice of any chenges In my interest rete and Ne amo�nt of my monthy payment botare E
<br /> � tr�eKectHa date ot eny cAartge.The notice wi� hcl,de htarmatien requYad by 4zw ta he phren me and also 1ho tdie end telephone number � ,,
<br /> o!a person�vho wi�ans4ver cinY Questlan 1 may huvo regard'np tho notice.
<br /> . B. TRANSFER�F THE PROPERTV OH A �ENEFICIAL INTEREST IN BORRO�bER
<br /> i
<br /> � _ UnHO�m Covenent 17 01 tAe Securi:,I��Wmont Cs nmondad to�ead ns toLOVrs:
<br /> � TqpNSFEq pF THE PROPERTY OA A BE�tEFiCIN. INTEHEST IN BORROLYER Ii all or nny part of tRa Proper4y or �ny fntorest�n n�s -
<br /> � sold or Insnsterced(ar d a Dcsslcfclil interest in Bartower is seld or Vansberred and Barrower ts not a natuml persan) wThout Lende�s prtor
<br /> f9
<br /> FwrRten consent, lender rntY. e1 tis oAtten,reGw7e irmxtdieta peyrt►ent in Np of ull sums secared by thls Sacurily Insburt�ent. However, this
<br /> � aptbn shstl no2 Qe exercFsad bY ������e ts proA�ited by toderal i�w ns of tRe date ot lhts Socurdy InsUument. lender atso sn3n
<br /> � rto1 exercUe tAts optian[!:(e) Uorrower ceusns to he suCm3ted to Lender i�tortn�tbn iequtud by Lender to evaluate t�e LitSndad transtcrco
<br /> � �� lis�a new ban wan beh� mtQe to tho transtareo; and(b)Lendar reasanebry determEnes that Lendsrs sei.�uriy wiU nat Oo irrpaired Dy I�e
<br /> . iv3n d55umpt(on fln0 t�et lne r�k of e broaCh of ciny Covenant�r flQreement h tAls Secu�y InsWmenf is¢cCCptabFa to Lender.
<br /> MULTISTATE AQJUSYA84.E RATE PI�ESt—AA.'�A 5-2-Srt�gtfl Fnmity-Fannia Mae/Frodd�a Mac Unifortn Inswmont Form 3111 3185
<br /> . Ft7{O.iKO (Q'C�) Pi3�t ol 1 -
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