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10 Loan No.... ADJUSTABLE RATE LOAN RIDER Jim WITN OPTION OF CONVERSION TO FIXED INTEREST REST RATE WMCI- THE SXCU1WY A NOTE WHICH CONTAINS A F!RQVISION ALLOWING FOR CHANG= IN THE INTEREST RATE. IN- CREAM IN THE INTOREST RATE WILL RESULT IN HIGHER PAYMENTS. IN THE 1NTZRWr RATE WILL RESULT IN LOWER PAYMENTS. This Rider is made this ............2ZnA., day of ........ SaRfi nr ...................119,02... and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt (the "Security t") of the mum date given by the undersigned (the "Borrower ") to secure Bor- rower's Note to ..... ...,. .................................... I.... "... .. First„ genera ..sxy s .grid .I.g,In. .gip I t otl.. 9f.. ��A113,. A...lo..1fixultR.sArp Out 19.0 (the "Lender") of the same date (the "Note ") and covering the property described in the Security Instru- ment and meted at .....3112 PCnnedY...Circ,le......._................ 1Gl?FnBk..... SQ .... Property Address MODIFICATIONS. In addition to the covenants and agreements made in the Security Instrument, Bor- rower and leader further covenant and agree as follows: 1. INTERESrRATE AND MONTHLY PAYMENT CHANGE DATES The Note has an "Initial Interest Rate" of .......... 7..950_ Interest rate changes may occur on the let day of ........................... t?4x.................... 19..89.` and on the let day of ............... ............August ........ 19 ..... 89and on the let day of ................Noyembgr ........, 19..$g. and on the hat day of ................... February ............... 19....90 and on those dates of those months in every year thereafter. Each date on which the rate of interest may change will be called a "Rate Change Date ". Changes in principal and interest payments to adjust amortizrlaetion of the loan to cgvespond with interest rate shall be made on the hat day of ......................... ...?'........................., 19........ and on that N. _..._ date every......".. .......... year(s) thereafter. Each date on which the principal and interest payment may change will be called a "Payment Change Date ". 2. INTEREST RATE CHANGES (A) The Index with the first rate change date, my interest rate will be based on an index. The "Index" is the: (cl Beginning e one to indicate index) (1) El "Contract Interest Rate, Purchase of Previously Occupied Homes, National Average for all Major Types of Leaders" pubtished by the Federal Home Loan Bank Board. Monthly average yield on U.S. Treasury Securities (2) C� ........................................................................................................................... ............................... adjusted to a constant maturity of 1 year published by the Federal Reserve Board. ....................... .. ............................................ ............................................................................................................ ...... - ......... ..................................................................................._......._..................................................... ........._..................... The most recent Index figure available as of the date 15 days before each Rate Change Date and 45 days before each Payment Change Date is called the "Current Index ". If the Index in no loom available, the Note Holder will choose a new Index which is based upon information. compamble The Note Holder will give me notice of this change. (B) Calculation of Changes Before each Rate �Wge Date or Payment Change I the Note Holder will calculate my new interest rate by adding ........................ percentage points (......:............. %) to the Current index. The results of this addition will be my new interest rate until the next Rate Change Date or Payment Change Date. On each Payment Change Date, the Note Holder will then determine the amount of the monthly payment that would be sufikient to repay the unpaid principal balance of my loan I am expected to owe on the Payment Change Date in full on the maturity date at my new interest rate in substantially equal pay- ments. The tank of this calculation will be the amount of my new principal and interest payment until my next Payment Change Date. (Check box(s)) 1) If this box In chocked, there will be no maximum limit on changes in the interest rate up or down. The rata as calculated under Section 2 (B) will be the new interest rate. 100 (2) s the interest rate that I pay shall not in more than .................. percentage points an y Payment e. 100 (311 th It this box is chwAsd, the interest rate that I pay shall not decrease more than ............. . womaw pw* on say Payment Change Date. (4;)Op If this box in chocked, the interest rate that I pay shell not increase more than .... ... ...... ... on any Rata change Date.