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<br />84 - 0065,15
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<br />ADJUSTABLE RATE LOAN RIDER
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<br />NOTICE: THE SECUJUTY INSTJtUMl1NT SECUIlJ:SANOTB~COIf-
<br />TAlNS A PROVISION AU.OWlNG FOIl CHAHGIlSINTHE
<br />RATE, INCItEASIlS.INTHE 'INTBUlSTRATE WILL BBS1lL1"
<br />PAYMENTS. DECUASES IN TIm INTBItI:ST RAftMAY-~'i':)
<br />LOWEll PAYMENTS.
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<br />This Rider is made this 14i:h day of ~ , 19-34-- _wi'
<br />shall be deemed to amend and su}lPlement the Mortpp, Deed of Truat, orn.Jto
<br />Ineb'ument") of the same date given by the undeniped (the "Borrower". to ......
<br />EQUtTABLE BUILDING AND LOAN ASSOCIATIONOFGRANOISlAND.~'(tIle.
<br />same date (the "Note", and covering the property dellcribed in the Security I~"
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<br />Property Acldntss
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<br />MODIFICATIONS. In addition to the convenauts and agnlel11eDts made in the Security I_i,
<br />rower and Lender further covenaut and agree as follows: " ........'........',/.
<br />A.INTEREST RATE AND MONTHLY PAYMENT CHANGES: .><i?.iC'
<br />The Note has an initial interest rate of m- %. The Note provides for changes in theiDtenlstrate_tlli' .
<br />monthly payment as follows:
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<br />m Rate C..... Dates and Frequacy n-f: Beginning in 19~ the rate of in~ I must ,..,....
<br />chanp in the f'i raT day of the month Jmm...J:y (Month After CIotDc ~...'.. '
<br />that day every 1 ~ months thereafter. Each date on which the rate of intenlst could dulwpitl~.
<br />a "Rate Chanp Date." . ......?<
<br />I . (2) ~ _~~Jl: A.~y .c~~. in t~e rate of interest will ~ ba~ onan Index. The "Indea': idJthe>M~:
<br />-I .-,,----- '7L"verlIge-rre.u uu v,,,,,,,,,, ........,., j . """ury-1i<<:uc.uw llQJ(fiiI:t!(l to II con5~DiiitUl'KyOT 0"..,
<br />. ---K-l year _3 years ___5 years as made available by the Federal Reserve Board.OI'Othe.N..
<br />i.,. tionaI Moo,h1y M..... c~, of Fand.'",,",,"""', ta FSLIC 1M..... Sa._ and Loon _ _ ~
<br />t available by. the Federal Home Loan Bank Board. (Check only one box.l
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<br />The fint Index figure for this Note is J.l....5&%. I t is called the "Original Index." The most recently.......
<br />Index figure as of 45 days before each Rate change is called the "Current Index."
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<br />If the Index is no longer available. the Note Holder will choose '-' new index which is bued upon comperable
<br />information, The Note Holder wiJI give me notice of this choice.
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<br />(3) Cak1datioa of ChaatJes: Before each Change Date. the Note Holder will ~ aay claanp in my
<br />rate of interest, The Note Holder will calculate my new interest rate by adding ~ poiRta
<br />(~%I to the Current Index IInd rounding the result to the nearest one-eighth of one pIII"C81ltap point
<br />(0.125%1, This rou~ amount will be the new tate of interest I am required to pay.
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<br />The maximum interest rate I will be required to pa~' on this loan will be no more than _..1.5--..%. The
<br />minimum interest rate I will be re<luiroo to pay nn this lotm will be no less than --.JJiJL.,%.
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<br />The Note Holder will then dett>tmine the new amount of my monthly payment which would be IlUfficieat to
<br />repoy the outstanding principal balance in full on the maturity date at my new rate of interetlt in substantiaDy
<br />equal payments, The result of thisl:alculation is called the "Full Payment" and will be the new amount of my
<br />monthly payment,
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<br />PROVISION Aloft applicable nnly if this box is ('ht'Cked,
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<br /><<4) Limit Oft Interest RaLt' Incre'._: Th(> rale of interest I am required to pay shall never be increaged or
<br />decreal'lOO on any sin!(le Ratt' Chan~:e Dill*' hv more than '~ from the rate of interest I have been paying.
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<br />151 Effective Date of Chaall/es: The new rate of interest will bc>come effective on each Rate Change Date. I
<br />",ill pay the new amount of my monthly payment each month tJeginning on the first monthly payment date
<br />aftel" the Rate Change natlt' until tbe amount of m~' monthl~' payment is again changed. or I have fully repaid
<br />the kllln.
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<br />f6t Notkt- of Chaqt!ll: The Note Holder will mail or deli\'f~r to mt. II notke of any chanRC!I before t'al'h nate
<br />Change Date, The Notice will advi~oe fit' of the new inter..st rate on mv loon. the amount of mv new monthlv
<br />payments, and an" additional matters whidl the Not.. Holder is noqu'in'ti to disdml{',' .
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<br />PtfJvil;ions ,\(71, A(I<I. AI9I, lInd /\1101 'jpph('lIhlp (lnly II this box is ('h,...,k,od,
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<br />m 80rr0ww'1I RiRal To l.imil Monthl, Payml'nl,: Unlt.s" St'l:tions /\I911lnd AI Illllx'low WllIllot permit lilt'
<br />1.0 do ~j, ! mBY ..hoOM" to limit thl' ,mmunl oj' mv Ill'W mOllthlv fluymenl fllllowlllj{ u /lllt{. ('huIlW' IIllte IOlht'
<br />I'Inmunt I haw. 1_1l J>>Iyil1~t llIultipli...,j lw tlw numtwr 1 07:, This '!OHlunt i. ('II lit'll thl' "Limited Pnvllll'IlI." If
<br />I dl<"'_" I.illu!....! l'a)/fl1I'l'lt as I1IV mOllthlY pa)/IlWnl, I II"'" loll"" I h.. ~(ll.. HolrlN noli..., I hal I ,,;n doillg '"~
<br />"tl"8SI, I '. dll~'" t",'nn' mv li"t nf'''' m(ll1th!v pMvrnO'1l1 " dul'
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