|
<br />I
<br />
<br />Loan No. .....54239::-1:::18...,
<br />
<br />Q
<br />
<br />ADJUSTABLE RATE LOAN RIDER
<br />
<br />83- 004952
<br />
<br />NOTICE: THE SECURITY INSTRUMENT SECURES A NOTE WHICH CONTAINS
<br />A PROVISION ALLOWING FOR CHANGES IN THE INTEREST RATE. IN-
<br />CREASES IN THEccINTEREST RA'J1!}WILL RESULT IN HIGHER PAYMENTS~
<br />DECREASES IN THRINTEREST RATE WILL RESULT IN LOWER PAYMENTS.
<br />
<br />This Rider is made this ....,16th""...... day of .....:eptenter...m..'..........., 19..a3..,and is incorporated
<br />into and sball he deemed to anll'.nd and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt
<br />(the"Seeurity Instrument") of the same date given by the undersigned (the "Borrower") to secure Bor-
<br />
<br />rower's Note .to. " ,...'......,....'.......,....m.......,.'.'.'..,,,...........'.....'...'.,.............'...,..".................".."......................"...,......
<br />..f.i,x.~,.,.J'!!l.c;.~.rl!J...$.'-y.iJ~g!U!.'l.:LJj9.{l.!L~fi,~.Q!;,\~,L\Qn..gI"ki,ns;.Q.ln.,..j"...V.ni.te.4,,:tU.t.U,:,C,QJ:P.ox.:ati.oAL
<br />(the ''Lender'') of the same date (the "Note") and covering the property described in the SeeuritylnSttu-
<br />ment and located at ..}.!JQJ...I:I,!l!tL~.Q~D,........___........., .,...,...,...........g.ntn!t..I.~J.iiD!;t,..,Nll.br.<<llM,Ji8I3D.l.........
<br />Property Address
<br />
<br />MODIFICATIONS. In addition to the covenants and agreements made in the Security Instrument, Bor-
<br />rower and Lender further covenant and agree as follows:
<br />
<br />A. INTEREST RATE AND MONTHLY PAYMENT CHANG.ES
<br />The Note has an "Initial Interest Rate" oL...u1.1...Z5IL%
<br />Interest rate changes may occur on the 1st day of ............."..................r.anua.r;y....., 19.,,85. and on the
<br />1st day of .u..................'.....m.Ajl;ril........., 19..8.5" and on the 1st day of .....u..........m.......rllllL.m"...~ 19~..8.s..
<br />and on the 1st day 01 ....uu...,................O.c,tllP~r...., 19...85. and on those dates of those months in every
<br />year thereafter. FAch date on which the rate of interest may change will be called a "Rate Change Date".
<br />Changes in principal and interest payments to adjust amortization of the loan to correspond with
<br />interest rate changes shall be made on the 1st day of ............."..................D.c.tohar......., 19,.115_ and on that
<br />date every ......::=:::.::::::... year(s) thereafter. Each date on which the principal and interest payment may
<br />change will be called II "Payment Change Date".
<br />Changes in the inten'St rate are governed by changes in an interest rate index called the "Index".
<br />Chock box(es) to indicate Index.
<br />(J) 0 "Contract Interest Rate, Pl1rI::haae of Previously Oc<:upied Homes. National Average for all
<br />Major T)-pee of Lenders" publilthed by the Federal Home Loan Bank Board.
<br />(2). ~ .Mj;>.H!!):>le..l{!'t,'t...I1~.t't,_.:: .tl.'?;>tl)JJ... !,v.e.H&!L .Y.i&t<!".Q!l._.u..,.~.....JX,!l3!!!..XY....,........'"......'"....
<br />Se cu r.i.~. ~~ .~" .{lJ!.j)!,H,!;'L t.9,. .?.-".9, \!~ .t!! 1,lJ. ..J"!',t,\l.!,i.~J... 9..t.. ~.. J.!'.!!);..II.\lk1i~.I:l!lJl...9Y.. .J;Il~.",.f.llliJ:x.llJ...J!..(\'I\IlXY~...liQa
<br /> rd .
<br />Check box(es) to indicate limits.
<br />( 1) 0 If this box is checked, there "ill be no maximum limit on changes in the interest rate up or
<br />down. The Preliminary Hate referred to in the Note, will be the new interest rate.
<br />(2) 0 If this box hi checked, the interest rate that I pay shall not increase more than ,........."n.......
<br />percentage points on any Rate Change Date.
<br />(3) 0 If this box. ill c~, the interest rate that I pay shall not decrease more than ..........."'..,....
<br />percentage points on any Rate Change Date..
<br />(4) 1XI If this box is checked, the interest rate that I pay shall never be more than ,..13d.'i5'O'... %
<br />during the period I have my loan.
<br />(S) Q!lIf this boll: is checked, the interest rate that I pay ahalI never he 1_ than ...9.~95D...... %
<br />during the period I have my loan..
<br />Hl) 0 If thil; box is checked, the principal and interest payment that I pay shaUnot increase more
<br />than ..n................ percent on any Payment Change Date.
<br />(7) 0 If this box is checked, the principal and inte.re\lt payment that I pay shall DOt decrease more
<br />than ................_. peroent on any Payment Change Date.
<br />The moothIy \>IlYJnent amoutl. III will also change on Payment Change Datellllll provided in the Note.
<br />~1J8!i' paymentcbanges may occur Iesa often than interest rate changes and/or may be subject to certain
<br />~ dtlllctibed in the Note, the monthly paymenlll may he insufficient at times to pay accruing
<br />m~ In such cue, unpaid interest is added to the principal balance 01 the Note and itself will aecrue
<br />interest thereafter.
<br />
<br />F...._
<br />
<br />L
<br />
<br />L
<br />
<br />
<br />u
<br />
<br />.-J
<br />
|