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ADJUSTABLE RATE RIDER (1 Y.., T.....ury Index-Rale Caps I THIS ADJUSTABLE RATE RIDER is made this ..7.1;h.... day of ......J:!\ly.(\Wll.~.F..................,...., 19 ,~!L.. and i. incorporated into and shan be deemed to amend and supplement the Mort8age, Deed of Trusl or Security Deed (the "Security Instrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Adjustable Rate Note (the "Note") 10...,...N\l;rnllll.1;":e.~m-..I'I.\\h..<\1l1s.\\.,J:\l\1;;l.Q.nill..M.ll\l,,,iil.t.i\l1J..,........,.........."................. .............................................................................. (the "Lender") of the same dale and covering the properly described in Lhe Security Inslrument and located at: 88- 106042 ................;\~Q.7...K\\n1J.\\\IY..,WilY....r,.l:~1J.Q...l.lllil.n\l.....N.\\h..<\llls.\\..fi,e.allJ....................................................................... l Propcr.y Addrcu I THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE UMITS THE AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE THE BOR. ROWER MUST PAY. .:-:, A.DDITIONAL COVENA.NTS. In addition to the covenants and agreements made in the Securhy Instrument. Borrower and Lender further covenant and agree as follows: A. INTEREST RATE AND !\10NTHLY PAYMENT CHANGES The Note provides for an initial interest rate of ..Z...f.?.......%. The Note provides for changes in the interesl rate and the monthly payments, as follows: 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (At Change Dales . The intercsl rale I will pay may change on the first day of .......J?!l!;!swll.\\F...................., 19.~.9....., and on that day every 12th month therearter, Each date on which my interest rate could change is called a "Change Date." ( B I The Index Beginning with Ihe first Change Date. my interest rate will be based on an Index, The "Index" is the weekly average yield on United Slates Treasury securities adjusted to a constant maturity of I year. as made available by the Federal Reserve Board, The most recent Index figure available as of the dale 45 days before each Change Dale is called the "Current Index. "." If the Index is no longer available, Lhc Note Holder will choose a new index which is based upon comparable information. The Note Holder ....iII give me oolite of this choice. (C) Calculation of Changes Before each Change Date, the Note Holder will calculate my new inleresl rate by adding ......T.!i:9...!!!!!!...9.!}!\::.. .........h;!J...f................... percenlagc points (..~.,j.Q......,%) to the Current Index. The Note Holder will then round lhe result of this addition 10 the nearest one,cighth of one percentage point ( 0.125%). Subject 10 the limits stated in Seclion 4(0) below, this rounded amount will be my new interesl rale un Iii the next Change Date. ",", The Note Holder will then determine the amounl of the monthly paymenl thai would be sufficienl 10 repay lhe itnpaid principal that I am expecLed 10 owe aL the Change Date in full on Lhe maturity dale at m~ new inLerest rale in substantially equal payments. The result of Ihis calculation will be the new amount of my monlhly payment. ,: I DI.Um;ts on Interesl Rale Changes The interest rale I am required to pay at the first Change Date will not be greater than ...9...25...............,<;> or less than ........5.....25..........%. Thereafter. my interest rale will never be increased or decreased on any single Change Dale by more than two percentage points (2,0%) from Lhe rate of interest I have been paying for the preceding twelve month., My interest rate will never be greater lhan lit"f.?......... %. I E I ElJ'ecti.. Date of Changes '.' My new interest rate will become effcctiyc on each Change Date. I will pay Lhe amounl of my new monthl~ pa~ment beginning on Ihe first monlhly payment date aflcr the Change Dale unlilthc amount of my monlhly payment changes again. ( F) Notice of Changes The Note Holder will deliver or maUto me a oOlice of any changes in my interest rale and the amount of my monlhly payment before the effective date of any t::hangc. The notice will include information required by jaw to be given me and also the title and telephone number of a person who will answer any question ( may have regarding the nOlice. B. TRANSFER OF THE PROPERTY OR A BENEFICIAL I"'TEREST IN BORROWER Uniform Covenant 17 of the Security Instrument is' amended to read as follcws: Transfer of lhe Properly or a IIooe/iciallnlerest in Borrower. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lcnder.s prior wrhten 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 ex.ercise is prohibited by federal law as of the date of this Security In~trument. Lender also shaH not cxercise this option if: la) Borrower causes to be submitted to Lender information required by lender to evaluate the intended transferee as if a new loan werc being made to the transferee; and (b) Lender reasonably determines thai 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 Leoder. ...Thc Index figure available as or the date the initial intercst rate was detcrmined for Ihi!'. loan \\'a~ ......9.~.~~...... U/o. ....nsTATE AO..'USTABLE RATE RIDER-lRM ~2-S.,..;1t: F-.lmil,,-Fannia ..... Freddl. IUc Umlcrm InllNm.nt Form 3'" 3 85 "/C1.....6IHfIIO/HII'..UOll'