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1409 South Locust, - Island NF RRRM (Property Addrea) The Now oaasalas 0 1 We apes ft far'ehaysa In dw Ibleswf twM: It the (atermt rats laessant, the Rear e s Mr.Md! li m IS will be fir• N the lr•Nrut raft Melttaam, ors ser owees taasMhly pya w� 1f. (rwar. ADDITIONAL COVENANTS. In addition to the coverm.t and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. INTERN RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of A Section 4 of the Note provides for changes in the interest rate and the monthly payments, as follows: 4. INTEREST RATE AND MONTHL Y PA YMENT CHANGES (A) Change Don The interest rate I will pay may change on the 1st day of Jan. nary .19 88 .and on that day of the month every 12 months thereafter. Each due on which my interest rate could change is called a "Change Date." (a) The Imes Begiming with the first Change Date, my interest rue will be based on an "Index." The Index is the weekly average yield on United States Treasury securities adjusted to a constant maturity of nnF, years, as made available by the Federal Reserve Board. The most recent Index figure available as of 45 days beforeeach Change Date is called the "Current Index." If the Index is no longer available, the Note Holder will choose a new bid" which is based upon comparable information. The Note Holder Will give me notice of its choice. (C) Caledatiar, of Chaagss Before each Cbtutge Due, the Note Holder will calculate my new interest rate by adding t In raa percentage points ( 3 - n %1 to the Current Index, and rounding to the nearest I /8%. The sum will be my new interest rate. The minimum interest rate on this loan will be no less than S - n A. The maximum interest rate on this loan will be no more than 1 ? _ fl %. The Note Holder will them determine the amount of the monthly payment that would be sufficient to repay in full the principal I am expected to owe on the Champ Dsae in substantially equal payments by the maturity due at my new interest rate. The result of this alculatier will be the new amount of my monthly payment. (D) Effw#w DnMaf Changers My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment beginning on the rrst monthly payment date alter the Change Date until the amount of my monthly payment changes again. (E) Ne"Orchasgsa The Note Holder will mail or deliver to the a notice before each Change Due. The notice will advise me of- (i) the new interest rate on my Ivan as of the Change Date; (ii) the amount of my monthly payment following the Mange Date: (iii) any additional nutters which the Note Holder is required to disclose: and (iv) the tide and telephone number of a person who will answer any question I may have regarding the notice. IL CHARGES; LIENS Uniform Covenant 4 of the Security Instrument is amended to read as follows: 4 Crytr Liens. Borrower shall pay all taxes, assessments, and other charges, fines and impositions attributable to the Property which may attain a priority over this Security Instrument, and hansehold payments of ground rents, if any, in the manner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment. when due, directly to the payee thereof. Borrower shall promptly furnish to Ltnnde all notices of amotmts due trader this pantgrapb, and in the event Borrower shall make payment directly. Borrower shall promptly famish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Security li sirdn ein;'however. Borrower shall not be required to discharge any such lien so long as Borrower: (a) shall agree ir. writing to the payment of the obligation secured by such lien in a manner acceptable to Lender; (b) shall in good faith contest such lien by, or defend against enforcement of such lien in, legal proceedings which in the opinion of Linder operate to prevent the enforcement of the lien or forfeiture of the - Property or any part thereof; or (c) shad secure from the holder of such lien an agreement in a form satisfactory to Leader subordinating such lien to this See.r�r truer _ If Lewder daaeeaa that ad or any put of the Property is subject to a lien which may attain a priority over this Security Instrument, Lender sham give Borrower a notice identifying such liar. Borrower shall satisfy such lien or take one or more of the actions set forth above within ten of the giving cf the notice. C. _`- NOTICE Uniform Covenm 14 of the Security Instrument is amended to read as follows: It 4 Nwiles, Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in this Security Instrument shad be given by delivering it or by mailing it by first class nail to Borrower at the Property Address or at such other address as Borrower may designate by notice to Meade as provided herein, and (b) any notice to Lender shall be given by first class mail to Lender's address staled herein or to such other address as Londe may ditWI M by notice to Borrower as provided herein. Any notice pro provided for fiat this Security lmtrwmem shad be deemed to have been given to Borrower or Lender when given in the manner designated herein.