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4. PAYMENTS (A) Tiling sad Place of Payments 5--m f 1 will Pay principal and interest by making payments every month. My monthly Payments Qi 1"630 before principal. M to interest I will make my monthly payments on the first day of each month beginning on ......................lea will snake these payments every month until 1 have paid all the principal and interest apd any other charges described ..... 19..5.. I that I may owe under this Note. If I still owe amounts under this Note l the maturity daft, T th Pay. tho4e auts below il on that date. 1 will make my monthly Payments at ........$u8r•ior, Mortgage,,... Inc..., „ 2121 „North Webb Road v.. P.O. Box ......... ........1b8,...Gxamd...Isl.antd N....6t1.Q2............... or at a different place if required by the Note Holder. (8) Amount of My Initial Monthly Payments Each of my initial monthly payments will be in the amount of U.S. 5.....524...94 ............... change my monthly Payment as required by Section 4(C) below on the 5th Interest Change Date and one verytfif hoaneni erl, sary of that date. Each of these dates is called a -Payment Change Date.” (C) Calculation of Monthly Payment Changes Before each Payment Change Date, the Note Holder will calculate my Scheduled Payment. The "Scheduled Payment" is the new monthly Payment sufficient to repay the unpaid principal balance on my loan in full on the maturity date at the Payment Rate in substantially equal Payments. The "Payment Rate" is the sum of the interest rate figures calculated under Section 2(C) above for the Payment Change Date and the four preceding Interest Change Dates, divided by the number 5, rounded to the nearest one - eighth of one Percentage point (0.125`k). (D) Effective Date of Payment Changes I will pay the Scheduled Payment each month beginning on the first monthly payment date after the Payment Change Date, until my Scheduled Payment changes again in accordance with this Section 4 or Section 5 below. S. BORROWERS RIGHT TO LIMIT MONTHLY PAYMENT (A) Calculation of Graduated Limited Payment 1 may choose to limit the amount of my new monthly payment following a Payment Change Date if the monthly payment I have been Paying otherwise would increase by more than twenty percent (207). If I choose to limit the amount of my alostVy Payment. I tiettst give the Note Holder notice that 1 am doing so at leas[ 15 days before my first new monthly payment is due. When I do so, on the first monthly payment date after the Payment Change Date I will begin paying a new monthly Payment which will be equal to the amount I have been paying each month multiplied b� Tile number 1.20. Thereafter, on each of the first four anniversaries of my new monthly payment effective date, my monthly payment will increase to an amount equal [o the amount 1 have been paying each r ror the preceding twelve months multip!;td by the number 1.075. These amounts are called he "Graduated Limited Paymen ,." Even if 1 ,lave elrasea to limit my monthly payment, Section 5(B), SICI or 50) may require me to pay a different amount. (8) Reduced Monthly Payment A Graduated Limited Payment could be greater than the Scheduled Payment If so, on the date my paying a Graduated Limited Payment would cause me to pay more than the Scheduled Payment, I will instead then begin paying the Scheduled Payment as my monthly payment until the next Payment Change Date or until 1 am required to increase my Payment under Section 5(C) below. (C) Increased Monthly Payment It my paying a Graduated Limited Payment or a Scheduled Payment would cause my unpaid Principal to exceed the limit stated in Section 6(C► below at any time after an Interest Change Date, I will instead begin paying L new monthly payment until the next Interest Change Date. The new monthly payment will be in an amount which will be sufficient to Prevent my unpaid principal balance from exceeding the Section 6(C) limit 'Thereafter, 1 will pay as my monthly payment until the next Payment Change Date the greater of: (i) the Scheduled Payment; or (it) an amount which will be sufFicym to Prevent my unpaid principal balance from exceeding the Section 6(C) limo. (D) Rot{ttired Full Payment Unless 1 exercise my option under Section 7 below, I will pay the full Pa�nten, as 11, monthly payment beginning with the first monthly Payment after the final Payment Change Date. 6. CHANGES IN MY UNPAID PRINCIPAL (A) Additions to My Uslaid Principal My monthly Payment could be less than the amount of the interest portion of the monthly Payment that would be sufficient to repay the unpaid principal 1 owe at the monthly payment date in full on the maturity date in substantially equal payments. If so, each month that the amount of my monthly Payment is less than the interest portion, the Note Holder will subtract the amount of my monthly payment from the amount of the interest portion and will odd the difference to n1y unpaid Principal. The Note Holder will also add interest on the amount of tills difference to n1y unpaid principal each nionth The interest rate on the interest added to principal will be the rate required by Section :Ic) ibsrvc (0) Reductions in My Uwid Principal My monthly Payment could be greater than the dittouot of a nuothly my unpaid Principal balance in full on [tic muturuy date at my current rile (if snucro,tsui sub'stdniwll c u.,i u d he .ullirrcnt to tepid the Nqg ) {older will subtract the diRcrcnce born the unpaid principal ti ilancc of nn i,,, Change Date as If I had made a 4 ) ayntuits If W. partial in ui rurh rtu,ruh until rile nett Intcresi t p.n urges under Ser: iron ri !x•I„w (C) Limit an %1y Capaid Principal ,, prnfntmrrrrrewed,'..cd d rna4nflUni JlnUnnt ryuai unircd .rnil.ii,c iRrrn1 t i , (tie ananilng .,rnaily