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<br /> �<• ;<:.y.,• ::t • THlS ADJUS'TABLE RATE RIDER IS made ihis , ; ..:,
<br /> ,�" " : � . � and is ittcorparated into and shsl�be dean�m amettd aad supplemEnt _� `
<br /> _,--`-�=-- �� 1!�of Thist or SecuritY De� (°S�u�Y Ensaumeat) of the same date given by the under�gned `^, 4::
<br /> _ __- L�L� ` " ("Barmwea")to sec�se 8asrowes�s Note t"Nute)to .�.f
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<br /> _c.��-.:�..,:��,.� � (the"i.endec"�of the same date�a covering ihe piope�ty desrn'bed iu die SecucitY tnscrun►ent aad ta�ated ax ` - � ,
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<br /> ``�:;�.'`,�' ._ .'� HtYPE C011Ff�NS.pAdVISIONS A1dAWING �OR CHANGB� IN THE c` �
<br /> _ > •' Y. :: A�TERFST SATE AND `i�IE MON'i'fl�.Y PAYMEDPt: '�HE N07'E'l.IIVII'!`S T� . . • ��. 1::.
<br /> T:.�'�';;� `. �_ . ' _ AMOUKT Tf3B BQRROWEi��IN'tERFSI'RATE CAN CHA3�IGE'AT A�NY ONE TIME - ; �t:�-
<br /> _ �.�.;:, . AND THE MAffiMdM RATE TNE BtDRR0119ER RrdlJST PAY.� . -_ --
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<br /> "� ADDI'ftOI�FAL COVENANTS. to:add�tion to the cuvenunts a»d �ems made in t6e Security It�wmept, -- _
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<br /> ' � Bosmwer anq Lender further covenant aisd a�ee as foliows: � � �r,..-
<br /> ` s r �� , • � • , '. �NTERF�•RATE AND MONTHI.Y PAYMEM'CHaN(3FS • � ' • . �� . ' �_ �=`
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<br /> �'_ ''.'.�` ` � 7Tie i{tts�st rate may change ort the firsi day Of Mare� !, .1987 .and that dag of each succeeding Year_ � . -- __-
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<br />--_��;`•�F��> ' � "�ange Date",GR�s eacb date on�vfiich the interest rate couidchange: . .. . ___
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<br /> , ,�_. . . . . . � • . ---
<br /> '�a�.'����`.: . (B)TMeindes � • . � �
<br /> =_ �n�� � �. $egi�irfg arit�the first Chaz�ge t�te.the interese rate vrilt be�as�+1 on an�ndex. "Indax"means the weekfY'averag� _
<br /> -Y—'���:.� .• .. yIeld on United States 7�ry Securi�ies ad�usted to a constant mat�uity af one year.as made,available by'l�Federat . , _
<br /> � . �Rese�ve 8oa�d:..".Cur�t TnQex°'means the most recent lndex tigure availabte 30 daya befine th�4�ange Datr� if th�Index
<br /> � � , ,: , _ . (as defia�a4ptne)is no tonger avaiiabte.Lender will use as a�new tad¢x�ylndea prescn'bcd'byi the S�y As'qs@d in . .
<br />--.-�`�:°"�;� � tmis�gides..."SecretarY"means tfie Secc�ta�Y of Houstn��nd UrDan DeveIapment or hls oc herdesigaee. Lendet wili give ,
<br /> ��,� . �.�o�cowetnaticeoYthenewimiea. . � ; . : . ' •--- � _ ---• ..
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<br /> �-""� ����� . (�y Eei�i�lattun atlat�est Ra�C6anges � � � • � , -
<br /> '��;'� � • Befpre escli Change Date.L.ender will catcutatc a new inte�est vate by adding a marg�n of , -
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<br /> � � . ' . . � � an�T6ree-PaurtLs�• .• '. . ��� � - -
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<br /> ��',�,� ; ". . . �Foirts(' 8,,T500,`�o)co the cuce�nt index and,munding the sum to tAe nearESt one�ighth af one Pareatage poi�t , _ _
<br /> a�t�+�, . , . t0.125%):SuQ�ect to the timits stated i�:�aragraDh(D)of tftis Ridea,thia manded amount wW hethe new intetest rate antll L
<br /> = tl�e neM C4range batc. _ .
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<br /> ��•��;�,. ' .t�) Ltmits un�►tee�st Rate C4aoges� ,
<br /> a•{ r 7, � • lnt 1 y single Change Date. --
<br /> �.�,. 'R�e interest rate wiil never increase or deaea�e by more th�mre perc�ntage po (,�.0�'0�on an . .
<br />--�:.:: � -: �..� . . . The intecese�ate wiU dever be more thaz►five percentaSe Polnts lS.11�'!o)higher or ldwer than the initlal ultecest rate. . . . ___
<br /> � - ``� .., , . (L� Calatation olP�qment C6ang,+e � � � ' ��.�_
<br /> ' •,., , ff the intezest rate o1�es on a CAange Date.Lender wlll catculate the amount of moriihty paymer►t of prindpal and
<br /> .. �,: :: �"�-_.'
<br />-__:�.••_:-'.�� �.�x. interest wluch wonld be aecesseiY to�ePa3►the unpaid ydncipal balance in tu11 at the maturity date at the a�ew tateteu rate �,_1,�-
<br /> �• a-'- �g��St�itt�ljy equt�l payAlents, in maliing sucb catculadon.Lender wiit use the w�paid principal Dalance which wauld �,
<br /> -. �aa' .�..-;: . be owed on the CE�ange Date if the�had i�en.no dePautt in payment on the Note.reduced by the amounl of acry ptepayments
<br /> a Y,.� ';� . to pr�ncipal.7'he�resut�ot thiscatcWation wiU be the smount of the new mvnthly pay�►ent o!principal and imeiest.� �-
<br /> � . . ''(F) rlotire atChaages . � � � . � r�`
<br /> ��� � � . ' "Lentteec wiU give iiotice fo 8mmwec of any cha►�ge in We.interes�rate and man�hiy PaYme�[amomtt. The Ymfice must
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<br /> .., , ° : be giverl W teast 25 days hefore the new manthly payraen�nmaum is due.and must set to�h ti3 tiiee d�ot the aadce.
<br /> ' � (ii)1he G�,vtge Oate(iii)the ofa inte�est rate.(iv)the new interes�rate.(v)the new mnmhty paymem an►°uw-tvil die .
<br /> -�: .:- ... ,:� ��.: •
<br /> ;;;,.�:"..�. ,.-' Curreni Index and the date ii was QublistteA.(vii)the metht�d of calcWating the ctr�nge•in monthty payment amounb and .
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<br /> ' "' ' (vliil anY otAer infortnation wh3cfi may be required by taw fram tltae to time. • �,
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