|
<br />I
<br />
<br />83-005237
<br />
<br />Loan No. u'h;j{j9..a.Q::l~,UL,.
<br />
<br />F
<br />
<br />Q
<br />
<br />ADJUSTABLE RATE LOAN RIDER
<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 THE INTEREST RATE WILL RESULT IN HIGHER PAYMENTS.
<br />DEcnEASES IN THE INTEREST RATE WILL RESULT IN LOWER PAYMENTS.
<br />
<br />This Rider is made this ,.uu?,~thu...n... day of .....~P.t~n'.'....'..h.....' 191Pu.., and is incorporated
<br />into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt
<br />(the "Secllrity Instrument") of the same date given by the undersigned (the "Borrower") to secure Bor-
<br />
<br />rower's Note to h...h."........ 'u.u...n.....h.hh..nhU...............,u ..".un..'........ 'u.h..un..'.n'nu.n.nU..u'hun..........u.......u......
<br />,?:!E!lcF:,.!f~~.e.E~.!...~~!.~.~!'!..~.~~"~!?~,~h~!!!~.?~~~.~'~??n?fn!:-'~~~!?,!.~A..~,.9.!!g~.<,In,2);~,~,~!!..f,9;r.P.!!f~,~.j,g!JUh
<br />(the "Lender") of the same date \.the "Note") and covering thet,roperty described intheSecurll:YInllW-
<br />ment and located .at "~~!?,~...I!e.!!.~.....~.~.ll"......,.......Uh....u....nu...'n.....E~Mn~!!J~!!~A..,~~J?E~.~n~n.g.??Q!........~..
<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 CHANGES
<br />
<br />The Note has an "Initial Interest Rate" oL,...P.,.?05.Q.... %
<br />Interest rate changes may occur on the 1st day of .................'.Uh.hUu'J'~.:t;\'!'.....un.u.' 19ue,2n and on .the
<br />1st day of UUhU....UUUhU....hh.~!'!l'J;~!l!J?."',L, 19Jt'L and on the 1st day of u.........uu...h....Jke-embe.L-n' 19u8.5.-
<br />and on the 1st day of ...n...'hnnh.........n...!Y!!':S;!L..,...." 19.J:H?.. and on those dates 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 />
<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 ....h......h.....'U....'..h.!1~...CJL.........;, 19.1:l.L. and on that
<br />date every ...,::::::-::':::::n... year(s) thereafter. Each date..on which the principal and interest payment may
<br />change will be called a "Payment Change Date".
<br />
<br />Changes in the interest rate are governed by changes in an interest rate index called the "Index".
<br />Check box(es) to indicate Index.
<br />
<br />(1) 0 "Contract Interest Rate, Purchase of Previously Occupied Homes, National Average for all
<br />Major Types of Lenders" published by the Federal Home Loan Bank Board.
<br />
<br />secur~ye.~~~fj~.~~?:~~::~::~?~y~~~1.:::~:€~~r~i~Li:i'::.:~i::'{{~~:~;i:~:~~~::::~:~~:~iL~~:~:~F.ii~:j9.~rd.
<br />
<br />Checkbox(es) to indicate limits.
<br />(1) 0 If this box is checked, them will be no maximum limit on changes in the interest rate up or
<br />down. The Preliminary Rate referred to in the Note, will be the new interest rate.
<br />(2) 0 If this box is checked, the interest rate that I pay shall not increase more than "un..mm.mn
<br />percentage points on any Rate Change Date.
<br />(3) 0 If this box is checked, the interest rate that I pay shall notciecroose more.than ....."_hhhhm
<br />percentage points on any Rate Change Data.
<br />(4) ~ If this box is checked, the interest rate that I pay shall never be more than ..13A..9.5Q..... %
<br />duringtheperiQd I have my loan. .- .
<br />(5) Il9 If this box is checked, the interest rate that I pay shall never be less than ..!1A..9.5.Q;,...., %
<br />during the period I have my loan.
<br />(6) 0 If this box is checked, the principal and interest payment that I pay shall not incroose more
<br />than '''hn'....m'u" percent on any Payment Change Date.
<br />(7) 0 If this boxiscbecke4, the principal an<,l interest payment thatI pay shallnot decrease more
<br />t~ ........,....;h.... percent on any Payment Change Date. .
<br />The monthly payment amounts will also change on Payment Change Dates as provided in the Note.
<br />Btlc:a- p&ymtlntchanges may occur less often than interest rate changes and/or may be subject to certain
<br />limitationsdB'll:ribed in the Note, the monthly paym. ellts.. may be insufficient at times to pay accruing
<br />interest. ha SUlliC8lle, unpaid interest is added to the principal balance of the Note and itself will accrue
<br />intei'est thereafter.
<br />
<br />F_1!4S
<br />
<br />u
<br />
<br />L
<br />
<br />L
<br />
<br />-.J
<br />
<br />L
<br />
|