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<br /> � � � ADJUSTABI.E RATaE R�� }. y �Y .
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<br /> �^ ` . ,� .� � �18I5 ADNSTABLE RA'IE R�IIt is made tlns` 18'I� daY of J�RY. ]995 .aad is�ca�pamt�dfnto aadsbalt � � 'r �. �
<br /> • =•'�� , • bs dermed to amend andsupplementtfle Mort�age,Deed of Tnist orSecurity Deed(the"8ec�tIty Ins�um�n�af tha sata�da*�e piven by ' r'`' "-:
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<br /> . , the undersigacd(the"Borm�+e�tnseciue Baaowez's AdjustabteRateNint$(the°Diote�W , . `. ' � • ' __
<br /> ' ` , C�L k'�+� �QT ` . , � 40� , _
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<br /> • . ., . (111E°LCItdC�d�i�C 53II1C�3iB SIId COYCI'lII$t21C�I�dpGI�aCSCii��ll1�1G�Ly�SIZIIIIIEIILBII�ZOf�A� . ; (+;�
<br /> , , : < � i�4y2� t��T Ft�lD. t�tAl� ISL�iZD. NS 68861 . . ' �' � : _
<br /> . [Pra�rqrAd�easl ' , ' � .. .. .
<br /> .�. ._..._` ,�7F Nd� r`vt�'���:3���Sl���'J'Q�.�.N.ifl,{�a R/�Cii7Naiu6v 0� Ri��OiYi G��T AQY Gii1���� • . - _-.-�....
<br /> ` t MONTHLY PAYMEN7: THE NOTE UNiITS TH�AMOU�IT'PWE BORROVYER'S IN4EREST RATE CAN _ • T
<br /> . . � . CHANQE d1T ANY ONE T1ME AND THE M1�XtMUlV1 RAYE THE BORRA1fiiER lIALlST PAY. � � .
<br /> • � � . ° ' ,AI)�TITOIYAL COVENMiTS.In uddiuon to�1te cavcnants aad agrecments mad�in thc Scxiuity fnsttumsat,8n�towtr arid Isadet . • . . - �, .
<br /> . � ,. ii�3her coveaant and agcee as foltows: � . � . <. . _
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<br /> • ' • . ` A. IN'i�tF�1'RA't�AND MON'1HLY PAYME�'CHANQES _ , � . . : .°'�"'
<br /> . • • � . . 7he aote pmvides for aa ini8al inaecsest rat�of 6.Q00 ' Sb.'!he Noic provtdes far cWngcs in the inurest . ,' ,
<br />_' � ` eateand themonthly paymcuts,as foliours: ' . . '`. •�.,_ . :��
<br /> ; � ' ` . , 4. II�'1£REST RATE AND MON'I�fl.Y PAYM6tVTCEIANC3FS . . . , .._-`�.1 ,-�
<br /> : ....• . _ (AD ChaAge Dates _ � •. '<�
<br /> . ��. . • .'Ihe iatcrescrate I will pay may change an�he Cust day of � A�'�' .19 95 ,aad aa tbatday ev�ety 6ib�toath � �+ � ., <_
<br /> � �.� . . . tttereaftr.r.Fach date on which my interest tate could c,�ange is called a'Chaagc Date:' . . .'. . •_ i
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<br /> �� Begianing�vith the first change Date.my inierestrafe ivil!6e�G�sed oa�aa Ind�'Ihe�°Indea"islh"e�tldyautiitstraverage__._.
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<br /> . .�.' , (iave,stmentj on 6month tr�ay bi1Ts.as made availa6Ieby the Federal Reseive Boand.7he most�ceat Index ftgane avaitable as of the .. �:`
<br /> date45 da before each Chan e Datc is called iha°Gmcnt Index." �. � �
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<br /> �. 1f the index is no Iongeravailabte,the Note No2der wiU choase a near indea tivhich is 6ased upon comparable�nfo�matlan.'Ihe Nlatc ,y�;�;/•�
<br /> �. � -V- � ---- � Holder w�!give me aodce of tbis choice. _ --� -
<br /> • . . (G7 Calculaiianof C6anges �2"
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<br /> � � � � . • gefore each Cbangc Date,the Note Holder will catculate my new iater�;t rate b.4 �g� �F�SePoiats( 3.375 °�) ��
<br /> • � to the(�m�nt Index.'Ih�.Note HolderwW tben mund the�+�svIt of this addittoaw the nearest os�eighthof aae pGraatagepaint � ... �" -
<br /> ... '. .. '- .' �(0.125 0).Snbject to tlte limits stated ia Sectioa4(D)betow.tlris muadcd sma�mt will be mp new intcresttatc until ths aaxt CLsnge Da2e. . ;'•�
<br /> � 1he Note Holder�vill then dete�iasthe amouatof the monthIypayment thatwonld be suffacient W i+epay the�mpaidp�dacipal that I • .' ' ._� • �
<br /> ' � � am e�tpscted to owe at the anoe Date in full on the mat�uiry date at my new intraest rate in substantialty eqaal PaymenLs.'Aie tesnit of . ._•:.���
<br /> • • this ealeulation will be the new amrnmt of my montLly paymen� •
<br /> ' • (L?) I3mits on Interest Rate Ci�amges -. . ',`f��`� --
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<br /> .. � ' �he inteiest tate I�sn reqaued to pay ae the fiisi C�nge Datc tivill not 6e gceater tt�an 7.15fl �,or less thaa 5.65fl °b.�ete- � _'- ',; ..
<br /> .� Rfte�my Intrrest rat�cJil}aever be incieasedor dec�eased on any siagle Change Date hy moie thaa 3/4 petceatage poi�ts(0.754;ii) . '. ,c.,��?�_t
<br /> ' . . ' - from the rdte of interest I Lave been payiag for the preceding six moaths.My interest rate wiU never be gteatet tLan 10.90Qb. ., • _
<br /> ` •�.�� : ,
<br /> . .. (E? Effective Date of Cbanges
<br /> � •• � My new interestrate will became et�'ective on each Chaage Date.I will pay We amouat of my nea�montbly payment begiaaing on the ' . . , �:
<br /> � ... . , firstmonthly payment date after the Change IIate�til the amount of my monthly paymeat cl�aages again . . ,. >�:
<br /> � .� � (F)Notice of Ghanges _ . _ . . . . :
<br /> • ' 'Ihe Notc Holdet�vill dellvet or mail to me a notice of any ct�amges in my interESt tate aad the amo�t of my manthty payment before � *: '
<br />-- � th�e effective date of any change.'t1�e noilce will iaclude informatton rec}uired by law w 6e givea me snd aLso the Htle and telep}toae • � - �"�
<br /> � • � numbcr af a person who will ans�ver any qacs6on I may heve regarding thc nodce. ,�` " ,I t
<br /> � ' .. . • B. TRANSFER OF THE PROPERTY OR A HENEFICIAL ll�i'�'ERFST IN BORROWFR . . . _ .
<br /> � ; . , Uniform Covenant 17 of the Securiry I�ostrumcnt is amarded eo rcad as follows:
<br /> . .. . Traasfer of thc pmperty or e beneficial3atcrest iu boisuwer.If eU or any part of t�e propetty or aay inteiest iait is so2d ar tiansfe�d� . .
<br />����� , ' (ar if a beneficL�e:iBtetest in Ba�mwet�soId ot trandertedand Bouotivcr is not a nahual petson)wlthottt L�entler's�sior writtm oa�seat. . . . • .,
<br /> , .' Lender may,at its option,reqoite immedlatc payment in ful!ofall sum9 ssciaed by this SecmIry InstmtneaL I�nderelso sLall not execcise _ ; �.
<br /> . �' t�isoptIon if:(a)Bnrrowcr causcs to be submitted w Lender infatmadon tequiced by Lender to evainaIe the iateaded ttaasfcree as if a nea �
<br /> , -.. , . taan nrcie bcing made to thc tran�'etee;and(b)Lender reasonably detetmines tbat Lendet's sectuEry will not 6e imgatted lry the Ioan � .
<br /> � ' � • assumpdoa and that the risk af a bmach of any r.ovenwt or ageement in this Seciairy tns�umcnt ls aocegtableto tr.ndsr. �
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<br /> • To tSte extent pemaitted by applicable law,t�adermay ch�rge a reasonable fee as a condldon tu Isnder's conseat to the Iaan �� .
<br /> ' ' assvmptian.Lender may nlso requit�e the transfe�ee to sign an assumpflon agreement tLatls aooeptabietn iendei and that obligates the
<br /> ��' � • , � �aasfcrcc to keep aU tlse promises and�greements made ia the Note aad in�hls Sec�n�ity lns�umea�Bonower will continue w be
<br /> �. .
<br /> �� • obllgated uader the Notc and this Security Instnmtent unless Leader�+eleases Boaower in writiag. .
<br /> ,�' � � � • lf l.cnder excrclscs thc option to cequire immcdiatc paymcnt in full,Lcnder shall give Barcow�tttotIce of accelesatlon.The notFce � ' .
<br /> .�� � sDa11 provi�te a periad of not less than 30 ds�ys from the date thc notice is dcltveredor m�ited�vithinwhich Soaawer most pay a11�s ; .
<br /> . : ` s��ued b ttis Sccurit Insttuanen�IP Borrowcr fails to a these svms ar m tHa ea iratIon of tLi9 od.i�nderma invuke any .
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<br /> ° . .' remedies peimitted by ' SecurIty Instrument withaut furt,ker aot�ce ot dcmand on Botrawer. �� •
<br /> . . � L;Y SIC3 G B V.Borrawer accepts and a�to the tertas and covensn�tained in thts Adj�mb2e Rate Rlder. ` , •
<br /> .�.�;, : ' : (Soaq (Soal) � • ,
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<br /> --� � . . � • (Seal) (Seaf) •
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<br /> _ _ _:... ...:....._. l4tiJl.Tl�FATE A�u te�AFLF R�4TE AIF'�ER-ARM 5-2-Cin�►e Fnntity.- :._���:____-
<br /> . �� �. Fannio Mae/F�eddie Mac Uniiorm instrument Form 3119/3/85 EG3033(REV d3/93) � ..
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