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<br />bi� carried over for inciusion in adjustments to the Existing interest Rate in sub -
<br />(g) If the index is no Banger aiiailable, Mortgagee will be required to use
<br />any index prescribed by the Department of Housing and Urban Development- Mortgagee
<br />will notify Mortgagor in writing of any such substitute index (giving all necessary
<br />information for Mortgagor to obtain such index) .and. after the date of such notice
<br />the substitute index will be deemed to be the Index. hereunder.
<br />L. (a) if the Existing interest. Rate changes on any Change Date,,Morgagee will
<br />recalculate the month,l; installment payments of principal and interest to determine
<br />the amount which +could be necessary to repay n full, on the maturity date, the
<br />unpaid principal balance '(which unpaid principal balance will be deemed to be the
<br />amount due on -wuch Change Date assuming there has been no default in any payment on
<br />the Note but that all prepayments an the mete have been taken into account), at the
<br />new Existing interest hate, in equal monthly payments_ char before the.Chaingg abate,
<br />!ortgagee will. give Mortgagor - written notice ("ddjautaaeret notice ") of any change in
<br />the Existing Interest Rate and of the revised ammunn of the mthly instalrmew, pay-
<br />ments of principal and interest, calculated as provided above Each Adjustment
<br />Mice will set forth (i) the date the Ad,justmerm Notice is given, (ii) the Change,
<br />Date, (iii) the new Existing 'Interest Rate as adjusted on the Change skate, liv) the
<br />writ of the adjusted munt hi p installment payments, calculated as provided awe,
<br />v) the Current Index, (vi) the- method of calculating the adjustment to the zonthly
<br />mstallverst payments, and (vii:)' any other- information which way be required by ;lair
<br />froth t.me to tied,
<br />(b) Mortgagor agrees to ,pay the usted monthiv installment amount be-
<br />ginnIng on the first panamenL mate which occazs at :east thirty (30) days` after ?fort
<br />gagee has ,given the Adjustment Notice. to 4or„gagsar_ nortgaggor will continue to, p
<br />the add -iusted mthly installment amount set forth in the last Adjustment Notice give
<br />by Mortgagee to 'mortgagor until -the first payment, date which occurs at `least thirty
<br />(34) days after Mortgagee has given a further Adjustment Notice to 4ortgagor. t-
<br />uithstaasding Anything to the contrary contained in this Adjustable Rate Rider or
<br />Che Mortgage, Mortgagor u 11, be relieved of any obligation to pair, and Mortgagee will
<br />Dire forfeited its r g it, to collect. any increase iss the monthly installaerst mat
<br />(caused
<br />_V
<br />the reCafc- labor of such Amount . A;tndet Subparagraph +(a) for any pay:seat
<br />date occurring less than thirry (0) days ofrev Mortgagee has given the appYiea€ile
<br />? AdJustment %otic:e to Mortgagor
<br />Vic? �otv1trmtand3nS anything contassaed in tisia Adjustable Rate R dery ifl
<br />the e. vent, that (i) the Ex3sring interest Rate was reduced on a Change Date, and (ii)
<br />Mortgagee failed to give the Adjuster Notice uben required, and (iii- Hartgagor, .
<br />i- 7onsequently, has made any monthly installment psyments in excess of the t .
<br />=c)s would have been set forth in such Adjustment Notice (- Excess Psymente). t
<br />Mortgagor, at Mortgagor's sole optima., aa" ±etc r (lj' demand clam return from Mort-
<br />gagee, (;.rho for the purposes of this sentence will be deemed to be the mortgagee, or
<br />mortgagees, who received sucb Excess f'ayseats,. whether or not any such mortgagee
<br />subsequently assigned the Mortgage) of all or any portion of sucxs Excess. Payments.
<br />wi la. interest thereon at a- "rate equal to the { nd x_ oaa time Waage Date srben the
<br />Existing interest Rate was sea reduced, fr€x= lbe- date each such Excess Para mt was
<br />asade� by Mcrtgagor to repayment, or (Z.-, request that All or any portion of such Excess
<br />Pavawe .:s, 'ogetber s,zxh al! interest thereor there dale :slaved as provi -ded above, he Applied
<br />as 'pa yments against principal. -
<br />b. Nothing Contained In this Adjustable Rate hider will permit errgagee to
<br />accompl st an interest rate ad ustmeeat through an increase (der decrease) to the un-
<br />paid pri. ipal balance. Changes to the Existing, irzterest Rate may only be reflected
<br />through adsustment to _'mortgagor's manthly installment Payments of principal and in-
<br />terest, as provided for herein'. - - BY SI—G 2_T C Eitl� , > ..'Sagas accepts and agrees to the terms a.,,i cavefftants �-
<br />-_ ra;.7,.'.ed .. t1.s Atiustable hate- Rider,
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