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88- 10652-1 \ THIS ADJUSTABLE RATE RIDER is made Ihi. ....~9.~.I). day of ........N~.y.e.!1'.i?e.r...................., 19 .~13..... and is incorporated into and shall -be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the "Security Instrument") of the same dale given by the undersigned ~thc "Borrower") to secure Borrower's Adjustable Rate NOle (the "NOle -) to ...... !!.9.r!'!.e.?t...~!!.9.~...N~.i?.r~.~.~~.,...!!.~...ig.m!.1...!\~.~.g.~.i.~.URn......................................... ...................... ................................ ......,........ (the "lender") of the same dale and covering the properly described in the Security Instrument and located at: ADJUSTABLE RATE RIDER (I Year T....ury Index-Rat. Caps) .............~~9...~.e..9.n.e..d.Y....9.r..i.y.e..,...~r~.9..<!....I.?J.~n.~....N~.i?mJ~..@~.Q.~.. I Property Addrcnl 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 AND THE MAXIMUI,lJ RATE THE BOR- ROWER MUST PAY. A.....1DITION"l CO\.'E..."....T5. In addition 10 the covenants and agreements made in the Securily Inslrument. Borrower and Lender further covenant and agree as follows: A. INTEREST RATE AND \10NTHLV PAVMENT CHANGES The Nou: provides for an initial interest rate of. ......~_..~.!?.%. The Note provides for changes in the interest rate and the monthly payments. as follows: 4. INTEREST RATE AND MOi'oTHLV PAVMENT CHANGES j A I Chang. Da,.. The interest ratc ( will pay may change on the first day of ......De.cenb.er........................ 1989.____. and on that day every 12th month thereafter. Each date on which my interest rate could change is called a "Change Date.- I B) Tho Ind.. Beginning with the first Change Date. my interest rate will be ba~d on an Index_ The "Index" is the weekly average yield an United Stales 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 date 45 days before each Change Date is called thc "Current lodell.. ...... If Ihe Index is no longer available. the Nole Holder will choose a new index which is based upon comparable mformation. The NOle Holder will give me notice of this choice. I C) Calculation of Chang.. _, Bf~re each Change Date. the Note Holder will calculate my new interest rale by adding ......T.~9...g_f)_g...I?I.:!~.7m ~.....~.i!_........................ percentage poinls (......?:.~.Q...%) to the Current Index. The Note Holder will then round the resuh of this addition to the ne3rcsl onc.cighth of onc per~cntage point (O.125'k-). Subject to the limils Slated in Section 4(0) below, this rounded amount will be my new interest rate umilthc next Change Dale, The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that I am elt~ted 10 owe: at the Change Date m full on the maturity date at my new inlerest rate in substantially equal pa).ments The result of this calculation will be the new amount of my mon~hl)" pa).ment. I 0 I Umits on Interest Rate Changes The interest rale I am required 10 pay at the first Change Ollie will nOI be ~re3ter than. ..1Q.,2.5... ......t;. or Jess (ban .......~_, ~.~...........~,. Thereafter. my Interest rate will ne\ler be: increased or decreased on any smgle: Change Date: by more: Ihall two percentage points (2.0%) from the rale: of interC:S1 I h3ve: been pa}'ing for the preceding t\1..e:lve months. My interest rate will never be greater than ...J.J...2.S.....'l I E I Elfoctir. Dal. 01 ChanK" My new interest rate will become effective on each Change Date. I will pay thc amount of my new monthly payment beginning on the firsl monthly payment date after the Change Dale until !lIe' amounl of my monthly pa)'ment changes again. (I'I Noile. 01 ChallJ:C3 The Note Holder will deliver or mail to me a nOlite of any changes in my interest rate and Ihe amount of my monthly payment berore the effeclive date of any change. The notice will include information required by law 10 be given me and also the title and telephone number of a person who ....ilI answer any qucstion I may have regarding the notice. B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER Uniform Covenant 17 of the Security Instrumenl is amended to read as follows: Trall"n ortM Proprrty or a BeMfidallntfrest in Borrown. Irall or llny part of the Property or any interesl in il is sold or transferred (or if a benefiCIal interest in Borrower is sold or transferred and 9orrower is nOI :t nalural person 1 without Lender's prior wnllen consent. Lender may. at its option. require immediale payment in (ull of all sums secured by this Securily Inslrument. However. this option shall not be exercised by Lender if eltercise is prohibited by federal law as of the date of this Securit)' Instrument. lender also shall nOI exercise lhis option if: (a) Borrower causes to be submitted to lender information required by Lender to evaluate Ihe lOtcnded 1fansferee as If a new loon were being made 10 the transreree; 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 ('ovenant or agreement in Ihis Security Instrument is acceptable to Lender. "The lode)!. figure available a~ of the dale lhe initiul intcrc~t rale \\a~ dt.ll.flllllll,d llll till" 1";\11 \\01". Sr.l.3.. "(I IlIUlTlSTa.TE a.o..ruSTAIlE RATE RIDER-ARM !).2-S,.,.I>'. I'" ",-F.nru..... 'reddle W.e. Ur"fotm l",lt\lment Fotm Jill J as