|
<br />I
<br />
<br />Qz
<br />
<br />Loan No. ......?~.<?~~:t:::;.L.
<br />~3-004174
<br />ADJUSTABLE RATE LOAN RIDER
<br />
<br />NO"tICE: THE SECURITY INSTRl:Th-mNT SECURES A NOTE WHICH CONTAINS
<br />A PROVISION ALLOWING FOR CHANGES IN THE INTEREST RATE. IN.
<br />CREASES IN THE INTEREST RATE WILL RESULT IN HIGHER PAYMENTS.
<br />DECREASES IN THE INTEREST RATE WILL RESULT IN LOWER PAYMENTS.
<br />
<br />This Rider ill made this ..........5.ttL..... day of .................~............., 19..83;., and is incorporated
<br />into and.sbal1 be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt
<br />(the "Seeurity Iristrument") of the same date given by the undersigned (the "Borrower") to secure Bor-
<br />
<br />1Jr:'t ..':t~r'gavrii8$..aiid'.LOaii..A8.iioClai10n.'oI..Li ncoln" ."'a'.tiriited..St;;.t;ii..;;o.....or~t.i'o;...
<br />'.............._....n......................................n.......................................................1...........................................~..................
<br />(the ''Leftder'') of the4me~~tt3~~~~;~ and covering the 8::~"'!!1~~~~~~~~rstru.
<br />ment and located at ............................,........n................. ..................,..........................."............................................
<br />Property Address
<br />
<br />MODIFICATIONS. In addition to the covenants and agreements made in the Security Instrument, Bor.
<br />rower. and Lender iurlber covenant and agree as follows:
<br />
<br />
<br />A. INTEREST RATE AND MONTHLY PAYMENT CHANGES
<br />The Note has an "Initial Interest Rate" oL.....U,!.~,~g..., %
<br />Interest rate changes may occur on the 1st day of ,..................,..........:;J.~~..'m'.....' 19.J~.~.. and on the
<br />1st day of ,....,.........................~~.P,!:~~,~.ki9.~~.., and on the 1st day of ....,.........,...,.......p.~!i~mRg!'..., 19.JI.~.
<br />and on the 1st day of ....................................!:c:!:tmmm.' 19..~~.. and on those data of those months in every
<br />year thereafter. Each date on which the rate of interest may change will be called a "Rate Change Date".
<br />Changes in principal and interMt payments to adjust amortization of the loan to correspond with
<br />intel'eat rate ~ shall be made on the 1st day of ...__........,...........,......,~r!;lL,........, 19.fl9... and on that
<br />date every .............,....,...... year(s) thereafter. Each date on which the principal and interest payment may
<br />cbangewill be called Ii "Payment Change Date".
<br />. Changllll in the. interest rate are governed by changes in an interest rate index called the "Index".
<br />Cheek box(llIl) to indicate Index.
<br />(1) 0 "Contraet Intel'(!8t RAte. Purchase. of Previously Occupied Homes, National Average for all
<br />Majur- T)~-vf I.cndcml' pub~ by the Federal H~ Loan Bank Bc:L.-d~
<br />(2) /j .~~~.!.~~!~,e..,~,t~. ..~.t~...: .,~~.t1~~l.?'...!'I,,~ r.~S~. .xJl!!!~L~!!...l!.!.~.~. ."!)::~~,~.\.H:Y.....,.... .m.... ..........
<br />SeCUl'~,t.~,!!..~,....~~..~!......~~.,~.,~?~!':~.t1~.,..~.~,'!:~!~"l..,?~.,.!..1.':.~!..2.~~~~.~,~~...g:t...);~.~....r.~~~J.:"J,...~U~,:t'.y.'i\.,.llgJlrd .
<br />Check bl)s.(IlIl} to itldk'ate limits.
<br />(1) 0 If thiabox is ~ed, there will be no nuWmum limit on changes in the intenl!lt rate up or
<br />down. The Preliminary Rate referred to in the Note, will be the new interest rate,
<br />(2) 0 11 tbil> box iIlcC~ the interest rate that I pay sball not in~ more than ....................
<br />percentage points on any Rate Ch8nge Date.
<br />(3l [1 If tWsboxis eh~1ld" the in~ rate that I pay sh;lll not decrease more than ......,..'....'.....
<br />~_ PGiAiJ.onam'. Rate CliatJgeDate.
<br />(.)~~~box,i!t~ the inteleit rate that I paysbaU nw<< be mare than ..l.4,...QQ.Q.....%
<br /><l~."~~.X~w.my-. . ... ...
<br />(5)mlftlBbQxis~ the interest rate that I pay shall never be less tban..~O...OO.o.....%
<br />d~~periodI have my loan.
<br />(&)0 Iftbis box is ebecklld" the principal and interest payment that I pay shall not increase more
<br />than ..................... ~t on any Pa}'tUent Change Date.
<br />('1). P I.~~ ~...~ the p~. @d inter$itpayment that. I pay shl1ll not ~ more
<br />_..:""..:.......",.~..~.lI!ilypa~t Cb8it~ Da.~.
<br />'flip. t.atnoull~wiDal8o ~ on PaymentCh.ange Da.te6 as providad m~Note.
<br />_Y~_ofklntbaninterest rate chani{ee and/or maX buubjectto certain
<br />.~. the NQte.. the. .1D.OlJ~.. . payments may be in.6utJlcjent at. tlmQs. to paya@lUl11g....
<br />UnpiIW~ia added to the principllfbabmce of the Note .and if3elf will aceNll
<br />
<br />L
<br />
<br />.J
<br />
<br />L
<br />
|