|
<br />ADJUSTABLE RATE RIDER
<br />(I Yen Treaury I_x-Rale Cape)
<br />
<br />THIS ADJUSTABLE RATE RIDER is made Ihis .J.~.. day of ...............~X............,.......... 19 ..~~..., and is
<br />incorporated into and shall be deemed to amenl1and supplementlhe Morlgage, Occd of Trust or Security Deed (the
<br />
<br />~~u~~~~~:~~:~:~~~~~.~..~~..~~~;~~~~~~~~.~~..~.~~.~.~~~:.~.~~~~~~~~~
<br />
<br />....................................,...............................,....,.., (the MLenderft) of the same date and coveringlhe property described in
<br />the Security Instrument and located at:
<br />
<br />88-
<br />
<br />103862
<br />
<br />.....~,..~~...~~~..~.~,..~~,!,..~..~.~~~~..............,................,.............................,......................................
<br />I ProperlY Addr.., I
<br />
<br />THE NOT! CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE
<br />AND THE MONTHLY PAYMENT. THE NOTE UMITS THE AMOUNT THE BORROWER'S
<br />INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE THE BOR-
<br />ROWER MUST PAY.
<br />
<br />ADDITIONAL COVENANTS. In addilion 10 Ihe covenanlS and agreements made in the Security Inslrument. Borrower
<br />and Lender further cove!!ant and agree as follows:
<br />A. INTEREST RATE AND MONTHLY PAYMENT CHANGFS
<br />The Note provides for an initial interest rate of ~Q~.99.Q,...%. The Nete provides for changes in the interest rate and the
<br />monthly payments, a. follows:
<br /><t. INTEREST RATE AND MONTHLY PAYMENT CHANGFS
<br />( A I C1Iaqe Dal"
<br />The interest rate I will ray may change on the first day of .,.. ..........,~..Q,-l:.... ..... 19,9.~..,. and on Ihal day
<br />every 12th month thereafter Each dale on which my inleresl rate could change is called a -Change Date,"
<br />I B I TIle IIIIIn
<br />Belinninl with the first Change Dale. my mlerest rale will be based on an Index. The Mlndex" is Ihe weekly
<br />averale yield on Uniled Slales Treasury securilics adjusted to a conSlanl malurily of I year. as made available by the
<br />Federal Reserve Board. The most recenllndex figure available as of the dale 45 days before each Change Dale is called
<br />the "Current Index, "..
<br />If Ihe Index is no longer avaIlable, Ihe Note Holder will choose a new index wh,ch is based upon comparable
<br />information. The NOle Holder Will give me nOllce of Ihis choice,
<br />(C J Cllculalioll of CIIuc"
<br />~ach Change Dale. Ihe NOle ~olfsbcrdll calculale my new Interest rale by adding ..OO..N()..~....
<br />........,....,...................... percemage points I...~......,......,%I (0 the Current Index. The Notr. Holdcr will then round the
<br />result of Ihls addition to lhe neare51 one-eIghth of one percenlage poInt (0.125%) SubJecltO the hml($ staled In Section
<br />4(01 below, Ihis rounded amount w,lI be my new interest rate unlil the nell Change Dale.
<br />The Note Holder will then determine the amount of Ihe monthly paymen! that would be $ufficienl 10 repay Ihe
<br />unpaid principal that I am expecled 10 owe al Ihe Change Date In full on the malUrny dale al my new interest rale m
<br />subslantially equal payments The result of (his calculallon w,lI be the neW amounl of my monthly payment.
<br />l D I U..lll 011 InleRSI Ralr CUIII"
<br />The interest rale I am required 10 pay at the nrst Change Date w,lI nol be greater than U~()()~O.~...'Jf or less Ihan
<br />......,..!~,~.9.9~..%, Thereafler. my InlerCSI rate will never be Increased or decreased on any "ngle Change Date by more
<br />than IWO percentalle points (2.0%) from i~e ~S of InlcreS! I have been paYIng for the precedIng Iwelve months. ~y
<br />inlerest rate will never be greater than ......~.......,....'J1-.
<br />( E) E1JKtlwe Dalr of C1IaIll"
<br />My new interesl rate will become elfecllve on each Change Dale 1..,11 pay the amoun! of my new monthly payment
<br />beginning on the nrsl monthty payment dale afler the Change Dale unl,1 the amounl of my monthly paymenl changes
<br />again,
<br />4 F) Nocke ur C'IauI:n
<br />The NOle Holder will deliver or mail to me a nollce of any changes in my Inlerest rate and the amounl of my monthly
<br />paymenl before the effective date of any change. The nOllce w,lI Include information required by law to be given me and
<br />also the title and Ielephone number of a person who will ans"'er any queslion I m3Y have regarding the nOlice,
<br />B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTERFST IN BORROWER
<br />Uniform Covenanl 17 of Ibe SecurilY I nstrument is amended to read as follows:
<br />T_fl!t' of 1M Proprrty or a Brnrficiallnlursl in Borrowrr. If all or any part of the Property or any inlerest in it is
<br />sold or transferred (or if a benefiCIal inlerest In Borrower IS sold or transferred and Borrower is not a natural person)
<br />without Lender's prior wriuen consenl. Lender may. at lIs option. require immediate payment in full of all sums secured
<br />by this Security Instrllmen\. However. this option shall nOI be exercised by Lender if el<ercise is prohibiled by federal law
<br />as of lhe dlle of this Security Inslrument. lender also shall nOI elercise this option if: (a) Borrower causes to be
<br />submitted to Lender information required by Lender to evaluate the intended Iransferee as if a new loan were beIng made
<br />to the transferee; and Ibl Lender reasonably delermines that Lender's securily will not be Impaired by lhe loan
<br />assumplion and Ihat the risk of a breach of any covenant or agreement in this Security Inslrument is acceplable 10
<br />Lender,
<br />
<br />.'The Inde" figure available AS of the date the Inlllal imere,t late wa, delermllled fur It", 1"al1 \la'
<br />
<br />7 ~ 5.90()() n".
<br />
<br />IIUl.n5TATt ADJUSTABLf RATE ~1Ot:R-SRM So2-s.-'..! ,...-..,-Fon.... _ F,"""",!IIIac Uniform 'nltru_n!
<br />
<br />Fonn J" I J 85
<br />
<br />"- .!~~il4I)i1...'....4O!!,'
<br />
|