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<br /> � '' � ��•/V�7v7��t'l.DLid �t3�a`i d�iL�ii� �C➢����,e�7 : ';
<br /> • (6-Month T-iflll,Weekly Aucttan Average Rnvestmcnt)-Katc Cap}�)'��"w' i •�.
<br /> ��� . da af t�II1RL'�I. 1995 ,nml is Inc,�r�wtntc�l Into an�l sfiall `�
<br /> :'j�t�n?'; ,• • THIS ADIUSTABLE RATE RIDFR ls mada lhja 9'I!i Y �
<br /> be dcemcd to amcnd nnd supplcmcnt the Mortgagc,Qeed of'Ih�st ot 5ccurlry Dccd(thc"Scc�uity instnnncnt")of ttie sunc dutc givcii by �F
<br />=', :,r•,•��.° .�, Q�c undcnignui(thc°Borowc�")to sccum.�atro�v�stnbl�c Rn�tc Notc�(thc�"�tc")co�'��N t
<br /> � (the"Lendet")of the same datc end covering the property describcd in ths yocurity[nstniment wid locnted nt: �'
<br /> . �:.�: 3135 V�C�'mf�:ffi+M. GR11tD IS�Ilt�. 2� 6E3003
<br /> , .N�:i:�- [propety Addrenl ,.
<br /> s :-" ,
<br />- n .x:. . , . :-..
<br /> THE NOT�CONTAINS PROVISIOfY�ALLOWING FOR CHANGES IN`TH�1�17Ef�FST R�4TE AND TM �
<br />. , MONT�E AT ANY ON TIME AND T EIMAXIMUM RATE THE BORRAW�i�•Ml G'A'PAYT RATE CAi� �
<br /> ,, cra�
<br /> ADDITIONAL�O��NANTS•In addidon to the covennnts and agreements mnda in the Security Ituuumcnt,Botmwcr nnd l.ender
<br /> ' further covcnaat nnd agtce es follows:
<br /> �
<br /> 1;.1 �
<br /> -�" �- I A. IlV'E'EREST RAT'E AND MONTt11.Y PAYMENT CHANG�S .
<br /> — 'Ihe note provides for an init}al incerest rate of 7.000 �i�.Tti�Nat�provldes for change.s i�►thc intere.st . -
<br /> � ' rnte and the�monthly payments,as follows: .
<br /> _- , , . 4. �TEREST Rp'I'E AND MONTHLY PAYMENT CHANGES � •
<br /> A' ° .. �p) Chunge Date�
<br /> pC1C)B�3t ,19 9�a ,and on Ihat day cvcry 6th mvu'r.'u ."
<br /> 'llie intcrost tate I will pay may c4�ange on thc f irst day of .,�
<br /> • �,:, thereafter.Ench date on which my fnterest rate could change is cnlled a"Chnnge Dats" „
<br /> (B) 17ic Index . ��
<br /> �i�. �
<br /> Beginning wi�h thc Cust�h�biu aa�.s'made avuilable y the Federal Iteserv Boarctl'It t'mostirecent Index f sure nvailuble ns of the .������
<br /> � ,� (invesmient)on 6-month treuauy 4 ��"
<br />:;: • !
<br />:;,`.,:_- � date 4S days before cach Cfiange Date is called the"Cutteut Indcx." 1 �.��
<br /> - --
<br /> :��;�.: � . If the lndex is no longer avuiiabie,[he ivote Hoi.;ee:.-3t1 c6c�e a�-`•'•'f�•�"-`-whioh is Toased upon compsuabDe informadon.'Ihc. ate
<br /> ��'� ,�^� Holder will give me nadce of this choice. ;,
<br /> ' • (C) Calculudon of Changes �'�� �� � �
<br /> �,1.'.�' Beforc each ChanEe Date,the Note Holder will calculatemy ncw intcrost rate by adding percentage points( 2.750 °�+) �'
<br /> ;�:
<br /> to thc G�rtent Index.'�e Nate I-Iolder will then round the result of this nddidon tn eh�neatcst ane-cighth of ane percentage poins :.y��
<br /> ' • (0.125 SG).Subject to thc limits stuted in Secdon 4(D)below,this rounded amount will be my new interest ratc eantil the next Change Datts. ' ` c., +
<br /> ...�`� �. . .
<br />; Thc Note Nolder will then determine the umount of the monthly paytnent that would be sufficient to repay c4�e tu►pald principal that I =.�•. :�<<,
<br /> ''•.,`�;'�: . nrn expc:cted to owc at thc C7�ange Datc in full on thc maturity datc at my new intereat rnte in substnntially equal paytnents.T�e result of :S(�,�5'{�,;,.
<br /> � , '. ,���
<br /> • �•' this esslculadon will be tk�e new amount of my monthly payment. (, �•
<br /> ,��,�: (D) Limits on Interest Rnte Changes ' �, -
<br /> ';,.:.�� . _'' � -
<br /> • 'R►e intcrest rate I am res{uired W pay at the ftrst Chan�e Date wiU not be greater ihan 7•750 %or tess W�n 6.250 �,{,.'Ibete� �' ��
<br /> `�w�`,
<br /> :;:. after�my interest rate will never be increascd or decreased on any single Chax►ge Datc by tnore thea 3/� perccntagepoints N•750�) � +.!�!�'.�'/.��"`:
<br /> <�'� .���.....•_.
<br /> ' from the rate af Interest I lwve bcen paying for the preccding six months.My intere,gt rnte�vill nvvar be gteatcr than 11.500b. 4` �
<br /> . . 1.. .'y�'.
<br /> . . (B) Effcctive Date of Chnnges r. r.•••.. .,,:
<br /> � h• My ncw intere.gt rntc will becomc effecdvc on each ChanBe Date.I wtll pay thc amount af my new monthly paymcnt bcginnln8°n tY� � � • ' ''`•.,,
<br /> � :# ., first monthly payment date aftet the Chnnge Date undl thc emount of my monilily payment chsnges again. � r:'r�,; .•`.-;,;
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<br /> �. (1�Nouce of Changes S;�;1.:;,r;.,
<br /> �- ,+�,; ,
<br /> The Note Holder�vill deliver or mnil to me a noticc of any chnnges in my ittterest rate and thc amowit of[-.iy���onthly payancnt before ,.. ; �
<br /> the cffective dnte of any change.'Ihe nodce will include informadon rcquired by law to be givcn me and also tlhe ddc and telcphone , ; �,
<br /> number of a petson who will nnswer any guesdon i may have regnrding the noticc.
<br /> . B. TRANSFER OF THE PRQPERTY OR A BENEFICIAL INTERE�T IIV DORROWER , •.,;,. .. .
<br /> ` Uniform Covenent 17 of the Security Instnunent is amended to tcad as follows: '�'��'
<br /> �� Tninsfer of thc property or n beneficiul intctest in borrower.If nll or any part of thc propetry at nny intetcst in it is so��'ur��ansfened
<br />-- ., (or if a beaeficinl interest in Bortower is sold or trnn.sfeiccd und Borrowcr is not a naturnl person)without Lcndcr's prior written consent,
<br /> � Lendcr mny,nt its option,ecqulre immeciintc paymcnt i�i tull of ull s�►ms secutcd hy thls Sccuriry Ir�swment.I..r.nder also shall nat exetcise
<br /> ' thls optton if:(n)Boirower ea•�.scs co be submittcd to Lender infaimadon rcq+�ired by Lcnder to cvaluato the intended uansferec as if a new
<br />-- � ;.,;.;: . loun wcre Ue[ng madc to the trnnsfcrce;fmd(b)Lendcr tc�.wnnbly detem�ines t1�at I.ender's securiry will not bc impaired ry�hc loan ,;•:•,
<br /> � assumptlon and thae ihc rlsk of a breach of any covcnant or a�mement in this Security Instnuncut is acceptnblc:tu I.endcr. I
<br /> To the cxtent permitted by applicablc law,Lender muy charge u m,�sonable fce as a condltion to Lcndcr's conscnt to the loan �
<br /> . : ':� asswnpdon.Lender may also requirc the cransf�re�to s9gn an essumptian agrccment t�at is accep�iblc to Lender nnd that obligates the �.
<br /> . trans feres t o k e e p n l l t h e p r omises and a g r e cments mude in the Note and in this Seeuriry Instmment.Borro�vor�vill continue to bc j
<br /> ' �- ___-_ __.�_ • _ „ti�soo.pa�tnAr.r ehe Note nnd thls Sccurity tn.gm►ment unicss Lendet rcicases Borrowcr in wridng. ; °' '.
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<br /> " 3 If Lendet cxcrcises the optioa to require�nmediute payment in fuli.Lender snau give norrowcz nuii.n�.a.n....�=o.,�......_..___- -- -
<br />-_- . �
<br /> shail providc a perlod of not less thun 30 days fmm the date the nadcc is delivcred or mailed�vithin�r•hioh Bnrro�vcr must pay nll sums
<br />- . sccured by d�is Sccurttv Instn�ment if Bnrrower fnils to pay thcse swns prior to thc czpirntion of tt►is perioci,�.cndcr m�y invoke nny
<br />��` remedles permitted by diis Sccurity Instrument without furthcr notice or demand oa eorrower.
<br /> - ` " BY SIGNWd BELAW,Borcower ncccpts and agcees to thc tetms and wvenn�t�contained in Wis Adjustable Ratc Ridcr.
<br /> �S� �,.'`(,Ll,(�u.�( l (Seal) i
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<br /> � � MULTISTATE ADJU5TABI_E RATE RIDEH—ARM 6-2--Sirtglo Family— �C-3033(REV 03/9 3)
<br />��„ • • Fnnnie Moo/Freddie Mac Uniform Instrumont Form 3111/3/85
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