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ADJUSTABLE' RATE RIDER (I Year T.....ry Index-R.I. Clps) 88- i0644€ THIS ADJUSTABLE RATE RIDER is made this ...Z.~.th. day of ..........NR.y.~mQ.~L................ 19 .~~..... and is incorporated into and shall be deemed to amend and supplemenllhe MortgBSC. Deed of Trust or Security Deed (th~ "Security Instrument") of the same dale given by the undersigned {the "Ronower"} to secure Borrower's Adjustable Rale Note (the . No'e") 10 ......~.Q.r.w!1~.~...~;w.~....r!.~!l.r.i\~.~.i\.,...~;l.t.i.Rni\J....(!~.~.9.~.i.i\~~.9.n. ........................................ ........................... ............ (the "Lender") of the same dale and covering the property described in the: Security Instrument and located at: . ... .........~~9.4...~.9..~.t~.. qUWJ j.~J~~.r.L~r.~.I1!LJ.~.li\n.g,...N~!l.r.i\~!i.~...~.??Q.L....................................................... I ProperlY Address ) THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME ANO THE MAXIMUM HATE THE BOR- ROWER MUST PAY. AJ)DITlO~Al Con:''''''Ts. In addition to the covenants and agreements made in the Security Instrument. Borrower and Lender further covenant and agree as follows: A. INTEREST RATE AND !\lONTHlY PAYMENT CHANGES The Note provides for an initial interest rate of "..8.\.~.Q.....%. The Note provides for changes in the interest rate and the monthly payments. as follows: 4. INTEREST RATE AND MOJloTHlY PAYMENT CHANGES ( A I Ching. Da.es The interest ratc I will pay may change on the first day of ......P.e.~~ml).~r....................... 19...a~... and on that day every 12th month thereafter. Each date on which my interest raLe could change is called a "Change Date." ( i1) The Index Beginning with the first Change Date. my interest rate will be based on an Index. The "Index" is the weekly average yield on United States Treasury securities adjusted to a constant maturity of I year. as made available by the Federal Reserve Board. The most recent1nde~ figure available as of the date 45 days before each Change Date is called the "Current Index. .... If the Index is no longer available. the NOle Holder wilt choose a new inde~ which is based upon comparable information. The Note Holder will give me notice of this choice. () (C, Clle.I,'lon or Changes ';),,1'/1' ( P I ( ').bll Before each Change Date. the Note Holder will coIlculate my new interest rate by adding ......Iwa.:!1!e.sme~__ ...~J:.f,"......... ... percentage poinL' (......2....0.0....%) to Ihe Current Index. The Nole Holder will then roond Ihe resuh of Ihis addition 10 lhe nearest one-eighth of one percentage point (0.125%). Subjecllo the limits stated in Section 4{ 0) bcl\Jw. this rounded amount will be my new interesl rate until the nexl Change Datc. The Note Holder will then determine the amount of the monlhly payment that would be sufficient to repay lhe unpaid principal thai I am expecled to o\l/e at Ihe Change Date in full on the maturity date at my new interest r3te in substanlilllly equal payments The result of this calculation witt be the new amounl of my monthly payment. I D 1 Umit5 on Inlrust R.lt' Changes The inlerest rale I am required to pay allhe firsl Change Date will nol be greater than lP.,.~O........ ......'"; or less than ........6...50... ....%. Thereafter. my interesl rale will never be Increased or decreased on any smgle Change Dale by more 1han two perc;entagc poinls (2.0'.t) from the rale of intercsl I have been paying for the preccding twelve month!>. ~1y interest rale wilt never be grealer Ihim 13...50.. . ,..'l- I E I EIf.clio. Da.. or Ching.. My new intereSI rate will become effective on each Change Date. l will pay the amount of my new monthly paymenl beginnmg on the firsl monthly paymenl date after the Change Dale untilllle amounl of my monthly paymenl changes again. ( F) Nnllee of Chlnges The Note Holder will deliver or mail 10 me a nolice of any changes in my inleresl rale and Ihe amount of m)' monthly payment before the effecti\le date of any change. The notice will include inrormalion required by law to be given me and also the title and telephone number of a person who will answer any question I may have regarding the nOlice. ,r' B. TRANSFER OF THE PROPERTY OR A BENEnCIAL INTEREST IN BORROWER Uniform Cavenant 17 nr the Security Instrumenl is amended to read as follows: Transfer of the Proprtrly or I 8eneftelallnrrrestln Borrower. Ifall or Dny part of the Propert)' ar an)' inleres1 in il is sold or lransferred lor if a benefiCial inlerest in Borrower is sold or traosferred and Borrower is not :t nalural person) wilhoul Lender's prior wrinen conSent. Lender may, at its option. require immediate payment in full of all sums secured by IhlS SecurilY Instrument. However. this option shall nOI be elcrcised by Lender if e~ercise is prohibited by federal law as of the dale of this Security Inslrumenl. Lender also shall not elCrcise this oplion if: (a) Borrower causes 10 be submitted 10 Lender inrormation required by Lender to evaluale the intended transferee as ir a new loan were being made to the Iransferee: and (b) Lender reasonably dcterminc.1l; Ihat lender's security will not be impaired by the loan assumption and thlt the risk of a breach or any covenant or agreemenl in this Security Instrument is acceptable to lender. UThe Inde, lil!urc ul,;;lililhlc ".. 011111.' L1"tl'lhl' iniliill inll'rC"1 Hill' \\'11" th..'h:rllllllcLl Ill! 11m Ill.1l1 \\".. .~...q.l. ..... "n. YUll1STlTE ADJUSTABLE RATE RIDER-ARM S.2-S.r.:;1fo ~,ll"'l't'l'-Fannle.... Ff~(U. Wee. UMorm InatflJmlnl Form 3111 J 85