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<br />88-105321
<br />LoOII No. ...~~~,e.7."bl.8..,....
<br />
<br />Q
<br />
<br />ADJUSTABLE RATE LOAN RIDER
<br />WITH OPTION OF CONVERSION TO FIXED INTEREST RATE
<br />
<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 IDGHER PAYMENTS.
<br />DECREASES IN THE INTEREST RATE WILL RESULT IN LOWER PAYMENTS.
<br />
<br />This Rider is made this ......I9J.I1......... day of ..........~~J?~.~mp..~.L..............., 19J\lL, 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") 01 the same date given by tbe undersigned (the "Borrower") to secure Bor-
<br />rower's Note to ..~~!:".s.!:..~~.~."!:",,.l,..S.!!'!.i.'.'.S~..!~.'.'.\!..!,.Q.!!!!...M~_~.'=-!!!~J9.!!.,~t..!,!!!.c;9.),!!~..l!..J!!!.:!-J.\;Il...$.tlltl:ll.
<br />
<br />..__._..___.._..__.__.s...<<?!.P~~~.~.!9J!.n..u_._.... ....__........_........................._.................__....................__....n.........._..__...
<br />(the "Lender") of the same date (the "Note") and covering the property d~scribed in the Security Instru.
<br />ment and located at .......!t.O.Ib..ko.la..Lane. ...,......_.......J;!!~.!l.\L!.sJ!!!!g....N\;!1.n\!i!H!.....fl~!l.Q.~....................
<br />Property AddrCBB
<br />
<br />MODIFICATIONS. ln addition to the covenants and agreements mode in the Security Instroment, Bor-
<br />rower and Lender further covenant and agree as follows:
<br />
<br />1, INTEREST RATE AND MONTHLY PAYMENT CHANGE DATES
<br />
<br />The Note has an "Init:a! Interest Rate" of ,.~.,.z~.Q......,... %
<br />
<br />Inrerest rate changes may occur on the 1st day 01 .......,.N.~;r~!!!\>.~!: ...................,..... 19.11)1,.. and on the
<br />1st day of .,..,....f)lJU1\1I!:Y................ .......,. 19..9.0.. and on the ]st day of ....... ....May.......,................. ]9.9.Q,__
<br />and on the ]st day of ..,...___.,....Augus.t. .......__... 19.90.__ and on those dates of those months in every
<br />year thereafter. Esch date on which the rate of interest may change will be called a "Rate Change Date".
<br />Changes in principal and interest payments to adjust amortizntion 01 the loan to correspond with
<br />interest rate changes shall be made on the 1st day of ......... .N.CJ'!.e.Dlb.~,r.""..,...".,.."..."..... 19.11.~." and on that
<br />date every '" year(s) thcreofter. Each date on which the principal and interest poyment may
<br />change will be called a "Payment Change Date".
<br />
<br />2. INTEREST RATE CHANGES
<br />
<br />I A) The lndcx
<br />
<br />Beginning with the first rate change date, my illterest rate will be based on an index. The "Index"
<br />is the: (check one box to indicate Index)
<br />
<br />(I) 0 "Contract Interest Rate. Purchase of Previollsly Occupied HomCfl, Nationol Average lor
<br />aU Major Types of Lenders" published by the Federal Home Loan Bonk Board.
<br />(2) jg: ..~!!~E.!.Y...!!'!.~.r.!'g~._.Y..i.~J~., .!!!).J}-,. ~,,' :r.1'_~!!~!!.!".Y.._ ~~.'=-\!r..i.~.:!-g~h!!.~.1!!~,~-"',~ . ~9, ,.!L _ 'h.......
<br />_.,..,_.e.~~lO.a,l1!:,~.~.~".1.t.Y...CJ.~..,~"y.,,~.r__.P1!.b.1.!,'!"e.~,_b.Y..,.~J.>.~.,f.~!".~!:!'!...~~~!HY.~.,)!9,'\!:<!",. .
<br />
<br />The most recent Index figure available as of the date 15 days belore each Rate Change Dote and
<br />45 days before each Payment Change Date is called the "Current Index".
<br />If the Index is no longer available, the Note Holder will choose a new Index which is based upon
<br />comparable information. The Note Holder will give me not:ce of this change.
<br />(B) Calculation of Changes
<br />
<br />BeIore each Rate Change Date or Payment Change Date the Note Holder will calculate my new
<br />interest rate by adding ..,..Z50_.... ...." percentage points (h. J,,~.9.!L%) 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 Dste.
<br />On each Payment Change Date, the Note Holder ..ill then determine the amount of the monthly
<br />payment that would be sufficient to repay the unpaid principal balance 01 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 substantia!ly equal pay.
<br />mmta. The ft!IIult of this calculation will be the amount of my new principal and interest payment until
<br />my next Payment Change Date.
<br />(Check bas.(a))
<br />
<br />(1) 0 If this box is checked, there will be no maximum limit on changes in the interest rate up
<br />or down. The in_t rate as calculated under Section 2 IB) will be the new interest rate.
<br />
<br />(2) ]i1 If this bas. is checked. the inrerest rate that I.pay shall not increase more than ,10..0.,
<br />P"ft"!Iltqe pomto on any Payment Chance Date.
<br />(3) ]iJ If this bas. ill checked. the interest rate that I pay shall not decrease more than .~QQ
<br />percent.qe pomta on any Payment Change Date.
<br />(4) P If this box ill checked. the int.erest rate that I pay shall not increase more than
<br />pIIalIIt.qe pomta an any Ra!!t ChaoII' Date.
<br />
<br />r..lll1.
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