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<br /> a' �. � . � � ��i7ST�BI.E RA�'E RIDER . ` .� -
<br /> Y`'� � (bMoffi6 T Hlll,WaEsTy Auctl�n Averaga(Iavcst���M—Rate Cnps) �.1������a"� � ' -
<br /> ;w�• � , • .°
<br /> �_ t'. �:` ','`� ;. 'SEIIS ADNSTABLE RA'i�RIDER is a►ade th9s 328T day of JA.H�lItY. 1995 . ,and is inc�o�porated into aadshall • � ,� .: ,,� �.
<br /> ' ' 6e deEmed to amead aad sappIrr.ment the Mattg�8e.Deed of�]tast as Sect�tity Qeed(the°Sec�Ity Tast�umeat°)of the same tl�te giv�n by . �:�,� � ; <�
<br /> - . c� tItetradet�gued(the"Boaowe�w sectu+e Sonower's Adjustable Rale Nate{tha"Nots")to � - , - `_�`
<br /> •r . . ,
<br /> .. �.� ' . . � � �It�� � � - .'
<br /> - , . ' . (the"LQadd�of tl�e same date aasi coveiin8�Pi'aPertY desctibed�n the Sec�riry Insttnmeat aad lacated at: ' '`�
<br /> .. . . � ..
<br /> : 42?S �3 Ct�Q,B. C,RA1�D �D. 1� 688a1 ' � ,
<br /> � ', . � • - . ' clhogarc�,adarssal . . ...:- ---_.-.:_-.: .
<br /> � .
<br />� ., �,,�_- -... � THE NOTE CONTQINS�ROVIStOI1LS AUAWItllti FOR CHANGES IN THE fNTEREsT RATE AND THE -- -- — -
<br />�a •: � . . ��_ ; MONTHLY PAYMENT. THE NOTE LlMi'��THE AMOUNT THE BORROWER'S INTEREST l�ATE C/�(Et � � � .
<br />-� •.. ' . ' � CHAIN�GE AT ANY ONE TIME AND THE MAXIMCIM RA'TE THE BOI�ROWER MUST PAY. � "..- ..- -_- .--. _.
<br /> �- • .
<br />��... .. . . *���z.t .L� �t,� ,��..�2 p: �.�,t,,� . _ . - -
<br /> 2�':, � .' ADDT[TONAL CQVPNANIS:111 tuiWLL��Y1G�STld�����m WG�cf:uii���D��er��i•LUGS r • ' , '
<br /> � fiuthercovenantaudagteeasfollows: ,', ; • .
<br /> ,_. • .,1.. . . ' .
<br />�y~�� '•� ,.. A. YNT7�1iEST RATE AND MONTffi Y PAYN�Tr CHANG�S • - '
<br /> YNT' . .
<br /> - - 'Ihe note providesforan initlalinte�irdte of �.800 . °,6.'ihe Notc provides for changes�the intcrest -.:'.. ._ ..�'.: `f_: �-
<br /> , tateand the mffithly paymanis,as follow� . ' . ° . ,� Y
<br />_� � ' 4. Il�1�dtF.Si'RA1E AND MONTHLY PAYArff�IT CHAN(iES �. `
<br /> �� .: •: . ; .; . (A)C�aage Dates ' ' . 4 ,.
<br /> _-� � 7he iatcrestrate I will PaYmaY cLange on the fitst day of ADC�R3T • ,19 95 ,and oa tLatday eveiy 6th mnnth �. •:. :
<br /> ti�ereafteP.Fach date oa wluch my interestratecantdcliange is calteda°Change Date." ��' � ;�-
<br /> —_:. ....:_.�.:; ' � . . --- - -
<br /> . � .. —{B)-�.�x-- -
<br /> - . ._ -
<br /> _ _-. .. . . -------�- - --._....__._._ ._.....__...-- -------- . _._._...._.----. .. .. .-- - - ... ............._._.._.._ . -----------�---
<br /> «:.r� ..
<br /> ' .. � Begianingwhh the 5ist cl�s�e 1Jate,mY intetestrate wflSl be based on an Index.lhe°lndes"is the weelsly auadoa average � •. �
<br /> - • • . ;� (investmeat)on bmonth treasary b�Is,as m3ds available by the Federal Reserve Board.11ie�ost recentlndex figue availab2e as of t�e . .. _.;,.���.
<br /> '- � date45 days befaie each Change Date is calledthe"C�urentlndex.,• . ,;;,�-�- -
<br />`:;��.: . ., . - _ -�; ff the indea is�longer available,the Note Ro2detwlll ebaase a new indea w}�ich is basedt�on camparable i�'oimadan.'ihe�Tote . .
<br /> . - _ HolderivJll gtve me notice of this cfioice: - - -- j" '
<br /> ,� , • " (C�Catculadonof Cbaages Rffii�A1�ID '�� .. �,;s
<br /> Befo:e eacfiQange Date,the Note Rolderwill calcnlatemy new interestrate by addtng perceutagepoints( 3.395%) .. , ',�:�-
<br /> - .. _ .��_ , .
<br />_� . . ' w the Gmentlndex.'17ie Note HoIderwill thenmuad the tesWt of this additton to the ncarc.stnn�eighthaf ame percentagepoint .. ,:.
<br /> , , .� ., '
<br /> (O.1Z5°k).Subject to the limits stated tn Sect�on 4(D)below,this munded amotmt wIll be my new interesttate tmtil the next C�age Data T •x
<br /> � , '. ' , ,. ._,��•
<br /> _ ' . . , � 'Ihe I�Totc Holderwill then detemune the amouatof the montbly payment thatwonid 6e s�&c#entto repay the wigaidpiiacipal Wat I . `o-".
<br /> . . atnexpectedw owe at the Chaage Date in full on themaAultydatc atmy new interestrateia substantiallY equal PaYments.�he result of .' � =�%" .; ,
<br /> . <<,.
<br /> - ' " this calculatioawIU be thenew amotimt of my montWY PaY�� � _':... - :-. ..:�. :..�.
<br /> ' � �ti• N) Limits on Iatcrest Ratc Changes � •• ` •`
<br /> , ,
<br />—_ • ' 'I�e interest rate I am required to pay at the ftist Change Datc will not 6e greatcr than 7.SS0 'Ib or les�thaa 6.050 �.'i4iere- ' � ,� ;:; '`
<br /> ..i '�� .
<br /> f�� , �. . aftcr,my interestratecvill nevesbe iacteasedor dccieasedoa any stagte C6ange Date by mote tbaa 3/d percentagepoiata�0.750°,6) . ,.. :�.��' � .
<br /> f�m the rate of intenst I bave been payIng for the pieced�ag sk mantl�s.My inteiest rate will never6e greater tban 11.3006.
<br /> .' (� Fdt'ective Date oYCI►anges .
<br /> • � ��;' � My new Iat�restrate will become efFective on each Cbaage Dats.I will pay the amo�mt of my new'montlily paymentbegtnnin�an the � -
<br /> _ �st monthIy payment date aftet the C�aage Date uadl the amo�t of my mantl�Iy payment cl�aages egai�t. � .
<br />- � �•: (E�Nadce of Changes . - . . , .'. -. ::
<br />— �, .`� 'Ihe Note Holderwlll deliveror mail to me a nolice of aay changes in my intemstrateand the amaunt of my maathly gayment before •� : • '�:�:` �
<br /> - � „. .. the effecdve date of any cLaage.lhe notice will incIude informat�on required by Iaw to be given me aad aLso the tide and telephone
<br /> •� n�berof a petson who wll1 aaswer any questIoa I may have regarding the aodce.
<br /> � , ..'" .. B. TRANSFFdi OF'THE PROPFdtTY OR A BFNFd=ICIAL Il�TFREST IN BORROWFlt . .
<br /> . • . • Uaifaim Coveuaat 1,7 of the Sec�uity Ins�ent is amended w read as follows: � •
<br /> . . •' Zitansfer of the praperty or a beneftcial interest in boaower.If aIl or aay part oF the pmperty or arry interest in it is sold or traas�erted ' • '
<br /> ' (otif a beas8cial Interest ln Ba�owerfis sold o:t�an.�ferc�dand Borcawer is not aaahnal peson)withrnrt Lcnder's priorwritien consen; � .
<br /> � Lendermay,at its opdon,rcquin immedlate payment ln fWl of sU s�s sec�ed by�his Sec�uity Ins�►�menE.Lender also shall not eaercise j �
<br />_ • ';, tLis opdr�a if:(a)Bormwer causes w be submitted to L�nder iafonnadon required by Lender W evaluate the iateaded uaasferee as if a aew f . . '
<br />—`_ . loanwtie being made w tLe tiansferee�and(b)Lender rEasonably detenniars that Lender's security arill not be 3mpaired by the loan r . , .
<br />==�Q.'� ' � assumptton and tLat the risk of a breach of any eovenaat ar agreemeni in tbis Sec�Ity Insuumenc ls ecceptab2e to Iender. .
<br />=�"� �. . � . ' To the extentpem�it*.edby applieabie law,L�dermay eharge a masanable fee as a condittan to Leader's consent to the loaa . � . � :
<br />_�•..� �;; asti�ptifln l.endes may also requine We traasfetee w s3�ea ass�pttan agteementWatis accepta6leto Lender and thatobllgates the � .. •
<br /> uaaYferee to keep all the promises aad agreements made in tha Note and in tHis Secialty Instn�men�Botmwer will conUnue to be •
<br />-�—�` � .. � obligated�mdcr tlte Note aad tbis Seciuity Inswmen�unless Lender releases Bairnwer in writing. �,� •
<br />. , �;.�� r� + .
<br /> � . If Lender exercises the apflon to require immediate payment in fuU,Lender shaU�ive Botrower noitce o!acceieration.7he notice .
<br /> i t
<br /> - "�ti:;�:. shall pravIde a perFod of not Iess tl�an 3�days from the date the not�ce is delive�d or mailed wltl�n wluc6 Boaower must pay a11 sums 4 � . .
<br />= " � ' �c�ed by tWs Security Insttumen�If Batrowet faiis to pay these sums prtor to the expiradon of ihls perIod,Leader may invoke any ` �
<br /> t�medlespermitted by this Secutity Iastrument without fiuthernotice or demand on Ban+ower. � •
<br /> ���.'.. ' �`� ' BY S �BFd,Aw.Bo�awer ts end a to the terms aad covenantsconrai�ed in this Ad'ustable Rate Rtdet. � �
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<br /> ��� � � Fannie Mae/Froddie Mac Uniform Instrument Form 3111/3/85 � EG3033(REV�3/93) • �
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