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~~_ 10'17'15 b~ carried over for inclusion in adjustments to the Existing Interest Rate in sub- sequc-nt years. (g) If the Index is no longer available, Mortgaoce will be required to use any 1ndex prescribed by the Department of Housing and Urban Development. Mortgagee ~ill notify Mortgagor in writing of any such substitute index (giving all necessary information for Mortgagor to obtain such index) and after the date of such notice the substitute index will be deemed to be the Index hereunder. 4. (0) If the Existing Interest Rate changes on any Change Date, Margagee will recalculate the monthly installment payments of principal and interest to determine thi' amount which would be necessary to repay in full, on the maturity date, the unpaid principal balance (which unpaid principal balance will be deemed to be the amount due on wuch Change Date assuming there has been no default in any payment on the Sote but that all prepayments on the Note have been taken into account), at the ne~ Existing Interest Rate, in equal monthly payments. On or before the Chang~ Date, ~tortgagee \Jill give Mortgagor written notice ("Adjustment Noticell) of any change in the Existing Interest Rate and of the revised amount of the monthly installment pay- ments of principal and interest, calculated as provided above. Each Adjustment ~otice ~ill set forth (1) the date the Adjustment Notice is given, (ii) the Change IJ.3te, (iii) the new Existing Interest Rate as adjusted on the Change Date, (iv) the 3ffiQUnt of the adjusted monthly installment payments, calculated as provided above, (vI the Current Index, (vi) the method of calculating the adjustment to the monthly ~nstallment payments, and (vii) any other information which may be required by law tram time to time. (b) Mortgagor agrees to pay the adjusted monthly installment amount be- gillning on the first payment date which occurs at least thirty (30) days after Mort- gagee has given the Adjustment Notice to Mortgagor. Mortgagor will continue to pay the adjusted monthly installment amount set forth in the last Adjustment Notice given by Mortgagee to Mortgagor until the first payment date which occurs at least thirty (30) days after Mortgagee has given a furthsr Adjustment Notice to Mortgagor. Not- ~ithstanding anything to the contrary contained in this Adjustable Rate Rider or the Mortgage, Mortgagor will be relieved of any obligation to pay, and Mortgagee will Ilave forfeited its right to collect, any increase in the monthly installment amount (caused by the recalculation of such amount under Subparagraph 4(a) for any payment date occurring less than thirty (30) days after Mortgagee has given the applicable Adjustment Notice to Mortgagor. "(c) l~otwithstanding anything contained in this Adjustable Rate Rider, in the event that (1) the Existing Interest Rate was reduced on a Change Date, and (ii) ~1Qrtgagee failed to give the Adjustment Notice when required, and (iii) Mortgagor, consequently, has made ~ny monthly installment payments in excess of the amount ~...hlch would have been set forth in such Adjustment Notice ("Excess Payments"), then ~!urtgagor, at Mortgagor's sole option, may either (1) demand the return from Mort- g~gee (who for the purposes of this sentence will be deemed to be the mortgagee, or mortgagees, .....ho received such Excess Payments, whether or not any such mortgagee subsequently assigned the Hottgage) of all or any portion of such Excess Payments, witll interest thereon at a rate equal to the Index on the Change Date when the Exi~ting Interest Rate was so reduced, from the date each such Excess Payment was m~de by Mortgagor to repayment, or (2) request that all or any portion of such Excess P~yments, together with all interest thereon calculated as provided above, be applied .:is payments against principa 1. S. Nothing contained in this Adjustable Rate Rider will permit Mortgagee to ~ccumplish an interest rate adjustment through an increase (or decrease) to the un- paid principal balance. Changes to the Existing Interest Rate may only be reflected through adjustment to Mortgagor's monthly installment payments of principal and in- terest. as provided for herein. BY SIGNING BELOW. Mortgagor accepts and agrees to the terms and covenants con- taln~d in this Adjustable Rate Rider. flJ~ k~~ (Seal) Mortgagor Hal" tanley Bea y ~L.v:). -~ .GfP.v.l....QO(3 (Seal) Mortgagor Dana B. Heas ey -