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I 0060309-2 r ADJUSTABLE PAYMENT RIDER 83- 005276 THIS AOmSTABLE PAYMENT RIDER is made this "",. ,29th." day of .. ..Sel?te~~"r........ , 19 ,.~3, and isincQrporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trost, or Deed to SecureOebt (the "Security Instrument") of the same date given by the unden;ifed (the "Borrower") to secure Borrower's Adjustable Payment Note to ....,. ~?~,:~~i.a.l . F~.'~e~~l. .S~yi.~lls, ,& , . oa:,,: .A'!l~'<~c ~ . . . . . . . . . . . . . . . . . . . . . . . ......................,.......,................ (the "Lender") of the same date (the "Note") and covering the property described in the Security Instrument and located at: ..~o.~.~.~~a~~,.G!~nd.!~1'!l~~,.Ne~r~s~~.~88~1 (Property Address) The N()t8Contalns Provlslol1s Allowing For Changes In The Interest Rate And The Monthly Payment And For Increases In The Principal Atnount To Be Repaid. The NoteAI80 Provides ForCalculationsOf Two Separate Monthly Payment Amounts. One Will Be The Amount That The Borrower Must Actl.lally Pay Each Month; The Other Will Be An Amount That The Borrower Would Pay Each. Month To FuliyRepay The Loan On The Maturity Date. This Means That The Borrower Could Repay More Than The Amount Orig". inally Borrowed Or That The Borrower Could Repay The Loan Before The . Maturity Date. ADDmoNAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument. Bor- rower and Lender further covenanr and agree as follows: A. . INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of ,.U, 7?1iIb. Sections 2. 3. 4. 5 and 6 of the Note provide for changes in the interest rate and the monthly payments. as follows: . 'y, "2. INTEREST (A) Interest Owed Interest will be charged on that part of principal which has not been paid. Interest will be charged beginning on the date of this Note and continuing until the full amount of principal has been paid. 11 .750 Beginning on the date of this Note, I will owe interest at a yearly rate of '. %. The rate of interest I will owe will change on the first day of the month of .~p!-".i.+.....,... , 19 .?'>. and on that day every 6th month thereafter. Each date on which the rale of interest could change is called an "Interest Change Date." The new rate of interest will become effective on each Interest Change Date. The rate of interest I will owe shall not exceed 13.990%. (B) The Index Any changes in the rate of interest will be based on changes in the Inde". The "Inde,," is tbe weekly auction average mte on United States Tteasury bills with a maturity of 6 months, as made available by the Federal Reserve Board. If the Index is no longer available. the Note Holder will choose a new index which is based upon comparable infom}ation~ The Note Holder will give me notice of this choice. The most recently available Index figure as of the date 45 days before each Interest Change Date is called the "Current Index." ' (C) Cak:uIation of Interest Rate Changes Before each Interest Change Date, the Note Holder will calculate my new rate of interest hy adding ,3,592... percentage points (3..502, . .. %) to the Current Index, The Note Holder will then round the result of this addition to the n~ one-eighth of one percentage point (0.125%). This rounde<l anlount will be my new rate of interest until the next Interest Change Date. Except that the maximum interest rate change shall not exceed 13.990%. (D) hlterest After Default The rate of in.lerest require<l by this Section 2 is the rate I will owe both before and after any default described in Section 9(B)beklW. 3. CALCULATION OF AMOUNTS OWED EACH MONTH TIle Note Holder will calculate my Full MonthlyAmounl. The "'Full Monthly Amount" is the amount of the monthly payment that would be sufficient to repay the unpaid principal balance of my loan in full at the rate of interest I am. requiredtQ pay by Sections 2(A) and 2(C) above in sUbstantially equal payments on . P.cl;9~.t; . . ~.s.l;. . . . . . . 20 . .~~ ,which is called the "'maturity dale", My first Full Monthly Amount is U.S. $ ..... ~.5,'l.?9, '... Before each Intet\>SI Change Date, lhe Note Holder will calculate the new Full Monthly Amount whicb I will owe each month beginning on tbefirst monthly paymeiltdate after the Interest Change Date. Th~ F1411. MonthJy Amounr J oWe" may be more or less than the amou]U 1 am required 10 pay each month. Section 4 be/ow $(arestlU;amount of my monthly payment and how it will change. SeclionS below describes how my unpaid principal balance will change iflhe arn.qunt of mymallthly.paY"lem and Ihe Full Momhly Amount"re different. '\..~ (~..'J.'!l!w.~~of~)'JDen.ts. Iwillpa)'pt:incipallU;ldinten;stbymakingpa:vments every.m<lnth, My m<lnthly payments will be applied to interest. ~(lI'e. Pt:incipal. IW:!Ull\lI.IIe myltlOOthly paymen\.'l.on the first day of each month beginning on '" Nnll'ember . ' lat ' , '19 . ,83.. .1W!lIJlJ<lk.ethese paymeuts.every montl1 until I have paid all the principal and interest and any other charges ~~be,IllW)\1ll:~) ~QW~ unaerthisNQtc:. IflstiU owe umountsund",: this Note. on the maturity dute, I will pay ~}l!l~~.intullunJNltdate, Those amoullllf collld be greater thlU! tbeamount <If my last monthly paymcnr before the ~'.' AD.JU$TABLE PAY~ RiI)ER - SiIlgio FarrnIy - t2181 - FNNA Uniform lnatnlment (PWm 2.fMg. Am.) M-1F