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<br />ADJUSTABLE RATE RIDER $6-- 10693Q
<br />(1 Year Treasury Index—Rate Caps)
<br />THIS ADJUSTABLE RATE RIDER is made this . ;Z!!d:: day of ..... December,,,,,,,,,,,,,,,,,,,,,, 19 and is
<br />incorporated into and shall be deemed to amend and supplement the Mortgage. Deed of Trust or Security Deed (the
<br />"Security Instrument ") of the same date given by the undersigned ( the - Borrower ") to secure Borrowers Adjustable
<br />Note_ "Nate ") EA State, ar►d,,,t ru t, t:,( ny„ of 4Af*JC PlC
<br />Rate ( the to- ;Bank ,. , ..::a ::.. ..............
<br />"Lender ")
<br />.................... ........... ........ .......... ........ ( the of the same date and covering the property described in
<br />the Security Instrument and located at'.
<br />..:.......:. ..... :...................... Q 6' 5,...0 QKaw. l5. laid :...W..... Owl..:.:.......... ...............................
<br />(Property Address(.
<br />THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE
<br />AND THE MONTHLY PAYMENT., THE NOTE LIMITS THE AMOUNT THE BORROWER'S
<br />43
<br />INTEREST RATE CAN CHANGE AT ANY ONE TIM AND THE MAXIMUM RATE THE BOR-
<br />ROWER MUST PAY.
<br />AmTN)NALC0%'F.SA%,V, In addition to the covenants and agreements made in the Security Instrument. Borrower
<br />and Lender farther covenant and agree as follows:
<br />A. INTEREST RATE AND MONTHLY PAYMENT CHANGES
<br />The Note provides for an initial interest rate of .... 7.,625.. . The Note provides for changes in the interest rate and the
<br />monthly payments, as follows:
<br />4. INTEREST RATE AND MONTHLY PAYMENT CHANGES
<br />(A) Chance Dates
<br />The interest rate I will pay may change on the first day of ...February... 1 ................. 19..88.., and on that day
<br />every 12th month thereafter Each date on which my interest rate could change is tailed a "Change Date.-
<br />(B) The Index
<br />Beginning with the first Change Date, my interest rate will be based on an Index. The "Index" is the weekly
<br />average yield on United States Treasury securities adjusted to a constant maturity of I year, as made available by the
<br />Federal Reserve Board. The most recent Index figure available as of the date 45 days before each Change Date is called
<br />the "Current Index.-
<br />If the Index is no longer available. the N'ote Holder will choose a new index which is based upon comparable
<br />information. The Note Holder will give me notice of this choice.
<br />(C) Cakolatiea of Changes
<br />Qcfore each Change Date, the Note }Molder will calculate my new interest rate by adding .tWQ..A 1d... eyen.- ,
<br />e1�11t)lS percentage points (.2.- 87`1.... ) to the Current Index. The Note Holder will then round the
<br />result of this addition to the nearest one- eighth of one percentage point (0.125 %). Subject to the limits stated in Section
<br />4(D) below, this rounded amount will be my new interest rate until the next Change Date.
<br />The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the
<br />unpaid principal that 1 am expected to owe at the Change Date in full on the maturity date at my new interest rate in
<br />substantially equal payments. The result of this calculation will be the new amount of my monthly payment.
<br />(D) Units on Interest Rate Champs
<br />The interest rate 1 am required to pay at the first Change Date will not be greater than ..9...2............ or less than
<br />5.625 Thereafter, my interest rate will never be increased or decreased on any single Change Date by more
<br />than two percentage points (2.0%) from the rate of interest I have been paying for the preceding twelve months. My
<br />interest rate will never be greater than ..13.625___..
<br />(E) Effective Date of Changes
<br />My new interest rate will become effective on each Change Date. t will pay the amount of my new monthly payment
<br />beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes
<br />again.
<br />(F) Notice of Champs
<br />The Note Holder will deliver or mail to me a notice of any changes in my interest rate and the amount of my monthly
<br />payment before the effective date of any change. The notice will include information required by law to be given me and
<br />also the , itie and telephone number of a person who will answer any question I may have regarding the notice.
<br />B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER
<br />Uniform' Covenant 17 of the Security Instrument is amended to read as follows:
<br />Trager of the Property or a Beneficial Interest N Borrower. If all or any part of the Property or any interest in it is
<br />sold or transferred (or if a benefictall interest in Borrower is sold or transferred and Borrower is not a natural person)
<br />without, Lender's prior written consem. Lender may. at its option. require immediate payment in full of all sums secured
<br />by this Security Instrument.: However, this option shall net be exercised by Lender if exercise is prohibited by federal law
<br />as of, the date of this Security Instrument. Lender also shall not exercise this option if: (a) Borrower causes to be
<br />submitted to Leaderirformation required by Lender to evaluate the intended transferee as if a new loan were being made
<br />to ,the transfer=; and (b) Lender reasonably determines that Lender's security will not be impaired by the loan
<br />asswutation'and that the rift of a breach of any covenant or agreement in this Security Instrument is acceptable to
<br />Lender.
<br />iM4'I Imf Ate we ( =Am s- a—sir a iw 4 ors* —Fmmw NIM4 rslMlis Mat IMP" kwhunant Form 3i 11 3 95
<br />WMi6BAb ��C @�S1rCw k�. S.Y.AM1Ci�HV dkJm'SB +$1+++ ♦AF93
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