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<br />88-
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<br />103954. Loan No. ,....8!123.8n.l_1.a....
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<br />ADJUSTABLE RATE LOAN RIDER
<br />WITH OPTION OF CONVERSION TO FIXED INTEREST RATE
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<br />NOTICE: THE SECURITY INSTRUMENT SECURES A NOTE WHICH CONTAINS
<br />A PROVISION ALLOWING FOR CHANGES IN THE INTEREST RATE. IN-
<br />CREASES IN THE INTEREST RATE WILL RESULT IN HIGHER PAYMENTS.
<br />DECREASES IN THE INTEREST RATE WILL RESULT IN LOWER PAYMENTS.
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<br />This Rider is made this ........~9J.h,...,.. day of .....,...,.......-!.I!J,y,......,............" 19..e,tL, and is incorporated
<br />into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt
<br />(the "Security Instrument") of the same date given by the undersigned (the "Borrower") to secure Bor.
<br />
<br />rower's Note to ..................................,............,......,.......................,...,.............,..........,.................,...............................
<br />.nz:At...lBl1eml...say~s.".and..,Loan.bsaa1atio~..o.t, ,lJAco.1A.,..a..,.tID1ted..-States.,cor.pcwa.t1o~
<br />(the "Lender") of the same date (the "Note") and covering the property described in the Security Instru-
<br />ment aud located at .., ..1.428.. Sou.tb ..lIeWIlS.t.le...IloIl4.......... .......Gl'&nd..,:tIJ1.a=r..HGbAaka.....6aaO~........
<br />Property Address
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<br />MODIFICATIONS. In addition to the covenants and agreements made in the Security Instrument, Bor-
<br />rower and Lender further covenant and agree as follows:
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<br />1. INTEREST RATE AND MONTHLY PAYMENT CHANGE DATES
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<br />The Note has an "Initial Interest Rate" of ..,....,.8L50.Q..%
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<br />Interest rate changes may occur on the 1st day of ......,...........,......,Sep.t&IIIbar.,....." 19,.a9.. and on the
<br />1st day of ..,.......................~tIIIller........., 19....89 and on the 1st day of ..,..,.........Mar.ah-..................., 19.9-0..
<br />and or the 1st day of ...................Iune,..............,.......... 19..,90. and on those dates of those months in every
<br />year thereafter. Each date on which the nte of interest may change will be called a "Rate Change Date".
<br />
<br />Changes in principal and inll!rest payments to adjust amortization of the loan to correspond with
<br />interest rate changes shall be made on the 1st day of ..............,.......,.sept.ember............., 19..89.. and on that
<br />date f!Nery .....=,,::::-"'::'..... year(s) thereafter. Each date on which the principal and interest payment may
<br />change will be called a "Payment Change Date".
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<br />2. INTEREST RATE CHANGES
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<br />(A) 'I'he Index
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<br />Beginning with the fil'llt rate clulnge date, my interest rall! will be based on an index. The "Index"
<br />is the: (check one bolt to indicate Index)
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<br />(1) 0 "Contract Interest Rate, Purchase of Previously Occupied Homes, National Average for
<br />all Major Types of Lendel'll" published by the Federal Home Loan Bank Board.
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<br />(2) Ii .1tmt.Qlj:..~Y.!U'R.ll:fLY.1ell1_QIl..ll..s...,TrIlaAur.v...sacur.it.1ea..., n' ..__n.'....'........ ,....... ..,......
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<br />"ll!U1l3,.~,.tg.,.lL.CQ.Qlltant...matur.1t~,..Qt",1.,,1ellJ:, ,puh.1ished..h)f,.tb.e..I'eda~"Re8el'V-e.,1loar-d'r'"
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<br />.........4.._.__..._n.._.h...U..._~U.__. ...... __ n.... ...... _."'U_' ....... _ . ..' ......_. . ._....... .... .ou....... _.......n..n.......... .h. ..-. -.,. .... .-..... ,- ....... .._..on.
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<br />The most:recent Index figure available IIlI of the date 15 dllYs before each Rate Change Date and
<br />45 days before each Payment Change Date is called the "Current Index".
<br />
<br />If the Index is no longer available. the Note Holder will choo5e a new Index which is based upon
<br />comparable information. The Note Holder will give me notice of this change.
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<br />(B) Calculation of Changes
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<br />Before each Rate Change Date or Payment Change Date the Note Holder will calculate my new
<br />interest rate by adding ...-2S0............. percentage points (.,2.;500...,.., %) to the Current Index. The results
<br />of this addition will be my new interest rate until the next Rate Change Date or Payment Change Date.
<br />On each Payment Change Date. the Note Holdl'.r will then d'ltermine the amount of the monthly
<br />plIymEllt that would be sufficient to repay the unpaid principal balance of my loan I am expected to owe on
<br />the Payment Change Date in full on the maturity date at my new interest rate in substantially equal pay,
<br />menta. The result of this calculation will be the amount of my new principal and interest payment until
<br />my nl!l[t Payment Change Date.
<br />(Check box(8})
<br />
<br />(1) 0 11 this bolt is checked, there will be no maximum limit on changes in the interest rate up
<br />or down. The interest rate 88 calculated under Section 2 (B) will be the new interest rate.
<br />(2) !JI1f thie box is checked, the interest rate that I pay shall not increase more than, lQ.Q..
<br />percmtap pomta on any Payment Change Date.
<br />(3) iii If this bolt is checked, the interest rate that I pay shall not decrease more than .. 100
<br />percentage pombl on any Paymell,t Change Date.
<br />, . (4) P If this box ill checked, the interest rate that I pay shall not increase more than
<br />percentap pomta OIl auy Rate Change Date.
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<br />FONI 101ft
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