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88- 100924 ADJUSTABLE RATE RIDER (I Year Treasury Index-Rate Caps) r THIS ADJUSTABLE RATE RIDER is made this ~.5.~!1.... day of ....r.el>~.\l.?:);"Y......................... 19 ..aB.... and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the "Security Instrumenl") of the same date given by the under5i~ned (the "Borrower") to secure Borrower's Adjustable Ra te Note (t he "N ote") to.... ..... ... ~.o.r.~~.~~. ..~~?~...N.e.~.r.<lE;...<l.~. ..N.C11;.:!-P~:'l.1... A.~~9.<;J~.tJ!{g................................... .............................................................................. (the "Lender") of the same date and covering the property described in the Security Instrument and located at: . ....... ~ ~.1. ~.. .5.11 ~Il.c. ~.. .~()~.d. .'... .G.r. Cl.Il~... ~ ~ .~.llIl~ '... ~.e. h. r:.a f> ~<l..... .6.8. ~~.~.................................... ............,........ I Properl)' Add:css I THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE MONTHLY. PAYMENT. THE NOTE LIMITS THE AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE THE BOR- ROWER MUST PAY, t fe F. !.' r r;". ~. t. f. ~. ~ l ~. I ~ t f t ~. . ~ t l ADDlTtO~AL COVESANTS. In addition to the covenants and agreements made in the Security Instrument. Borrower and Lender further covenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of .Jt.X?......%. The Note provides for 'changes in the interest rate and the monthly payments, as follows: . 4, INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The interest rate I will pay may change on the first day of .........~~.~~!1.........................., 19...~.?... and on that day every. 12th month thereafter. Each date on which my interest rate could change is called a "Change Date." ( B) The Index Beginning with the first Change Date. my interest rate will be based on an Index. The "Index" is the weekly average yield on United States Treasury securities adjusted to a constant maturity of 1 year. as made available by the Federal Reserve Board. The most recent Index figure available as of the dale 45 days before each Change Date is called thc "Current Indl'x. ".. If the Index is no longer available. the Note Holder will choose a new index which is based upon comparable information. The Note Holder will give me notice of this choice. (C) Calculation of Changes Before each Change Date. the Note Holder will calculate my new interest rate by adding ......~~~...i;1:~~.............. ,.....9X\~...n!llL......... percentage points (..?".?.........%) to the Current Index. The Note Holder will then round the result of this addition to the nearest one-eighth of one percentage point (0.125%). Subject to the limits stated in Section 4(0) below. this rounded amount will be my new interest rate until the next Change Date. The Note Holder will then determine the amount ;)f the monthly payment that would be sufficient to repay the unpaid principal that I am expected to owe at the Change Date in full on the maturity date at my new interest rate in substantially equal payments. The result of this calculation will be the new amount of my monthly payment. ( D) Limits on Interest Rate Changes The interest rate I am required to pay at the first Change DJte will nOI be greater than .....?~.??..............'k or less than ...........z.,.~.::?.......%. Thereafter. my interest rate will never be increased or decreased on any single Change Date by more than one percentage points (1, O%) from the rate of interesl I have been paying for the preceding twelve month~. My interest rate will never be greater than ..J.~...).?.......%. (E) Effective Date of Changes My new interest rale will becomc c1Teclive on e:l<.:h Change Date. I will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change Dale until tile amount of my monthly payment changes again. (F) Notice of Changes The Note Holder will deliver or mail to me a notice of any changes in my interest rate and the amount of my momhly payment before the effeetive date of any change. The notice will include information required by law to be given me and also the title and telephone number of a person who will answer any question I may have regarding the nOlice. B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER Uniform Covenant 17 of the Security Instrument is amended to read as follows: Transfer of the Property or a Beneficial Interest in Borrower. If all or any pan of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or lransferred and Borrcwer is not a natural person) wilhout Lender's prior wrillen consent. Lender may, at its option. require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by rederallaw as of the dale of this Security Instrument. Lender also shall not exercise this option if: (a) norrower causes to be submitted to Lender inrormation required by Lender to evaluate the intended transferee as if a new loan were being made to the transferee; and (b) Lender reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of a breach of any covenant or agreement in this Security Instrument is acceptable to Lender. r- 'OThe Indcx figure available as of the date the initiiil interest ratc was detcrmincd ror this loan .....a'; Borrower.' S initial'{!P-zi_ Co-bon:owel" s initials ,8 t,(./" 6.90 ... U/o. MULTlSTATE ADJUSiABLI RI,~r. ;.IO[~-,\RM 5/1.:;"0<: ;:''':'''1 r C(~' .go =1. uC l1i"WUmO "IJ{}(J