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<br />00601.57-7
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<br />ADJUSTABLE PAYMENT RIDER
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<br />83-' 005802
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<br />AO THIS ADJUSTABLE PAYMENT RIDER is made this ..' 77th... day of .. .Octoh.er........... ,
<br />19 .': ~ ,and is incolJlOrateil into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to
<br />~ure Deb! (the "~urity Ins!ruIIl\ll'J~)e'i! tj!!J~~f=rr ,gi~~~c~Y the undersigned (the "Borrower") to secure Borrower's
<br />Adjustable Payment Note to .. .......'......,..,..,.....................................................
<br />. . . . . . . . . . (the "Lender ") of the same dale (the "Note ") and covering the
<br />property described in the Security InSltument and located at;
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<br />1122 E Str1 Crcnrl Islapc, ~p~r~ska 6BP01
<br />(Property Address)
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<br />The Note Contains Provisions Allowing For Changes In The Interest Rate And The Monthly
<br />Payment And For Increases In The Principal Amount To Be Repaid.
<br />
<br />The Note Also Provides For Calculations Of Two Separate Monthly Payment Amounts. One
<br />WIll Be The Amount That The Borrower Must Actually Pay Each Month. The Other Will Be
<br />An Amount That The Borrower Would Pay Each Month To Fully Repay The Loan On The
<br />Maturity Date. This Means That The Borrower Could Repay More Than The Amount Orig-
<br />Inally Borrowed Or That The Borrower Could Repay The Loan Before The Maturity Date.
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<br />ADDITIONAL COVENANTS. In addition to the covenant.s and J.~rcements made in the Security Instrument, Bor~
<br />rower and Lender fUrthcoT covenant and agTt~l.:' ;t." ri..\u()W~:
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<br />A. INTEREST RATE AND MONTHLY P.WMENT CHANGES
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<br />The Note pm\"Jdes tvr an mmaj Intt"fC:'il rale ot ll. ~.("_i\~ Sct.:llons 2. J. -1. .5 and b of the Note provide for changes in
<br />the imere~1: rate and the monthly p-aynwm.... ,1\ folkn\-'!<>
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<br />"2. INTEREST
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<br />(AI Int"rest Ow"'!
<br />Interest y,-dl tx' .:hargcd pfi thai pan ,It pnnclpai \4 hKh na,;;; not hccn pallt lnte-rest wdi lx~ ~~huq!:cd beginning on the date
<br />of lh_ls Note and contlnum~ untll the lull J.m\Junt or pnn~'lpaj ha:;. neen paid. 11. ~~(\(,
<br />Beginning on the dale of thIS Nntc. _lll~~l_t ~jwe m!tres.t at a YGfl,;' rale 01 Tht: r~lte of interest I wll1 oowe ,"'HJ
<br />dlange nn the first day llf {~ munth ot -" _..t l\)"" ~md on thut day every 6th month thereatter. Each
<br />date {in whICh the rate Of Hltere~l ..',II.Jld ,.-hangt-o !" ,:alled an "Interc~l Chan~c Date, 'Thl~ nc-\v mte of interest will become
<br />t"ffectl\'eone.Khlntt:'re~t{.h.mgt:'Palt.. -"L._ ;-:1tl..: ;_,t frtt.-n>~t. r ~:'ij1 t'\'(> ,:,j',I.lI net t:'XC€(.{i IJ.~H{'~'
<br />
<br />(81 'I'M 1"*,,
<br />t\"Y changes In the rate of tmere~~ wlii he bn~cti on l,.~h"'n~~ In the Indc~_ The "Index "IS the \\-'cekly aUl:tion average rJte
<br />i,'n Cmte-d Stares- "lre-"-.t..\ury h~H.. u.tth a malum)' ut {; nwnths. :1.:> nwdc ;lvallabk tJ,y the h'deral Rt'servc- Board,
<br />If the inde.' I:') nn k\ng.a.n ..liable. th~ ~n-lO: Hph.kr "" Iii ,--ho1.Y,.t.> .t 11t:'''' lnde,\ whlt,:h l~ oa,\l.'>-d up'on J.:omparabJc infommtion.
<br />The ~1'te Hukkr ~ tii ~l'"..' m.( n(\{~(~ d t!1l~ ..:hul.-n~
<br />The- must rt."\.'cntl~ ;,1\',;uiabk- InJ.t'''I. n~un:.' a~ nf thi..' dol!-\;.' 4'\ J,ay... he-fore- l'al,.-h intcrt'\t (.hangc Date 1:-. railed the "Current
<br />lnde,."
<br />iCl Cakulation uf Int...",.c Rate UllIng". . . _',
<br />Be:t(}re ca~h tntef!~~ Chang~ Date. the Nt1te H\\IJr:r \.qH cah.:ulate my fie'" rate of intt:rest by adding .J..'.t )l,
<br />pe:n:entage pl)tnts {.[, ')(l .~ \ fo the (.urn:nt Indc:\ rhe N{)!c Holder will then round the result of this addition w the
<br />ne-.arest one-eighth of one pen."'Cnta~ P'-)101 10_ l.::jt~,) 1111~ ftlunded amount will be my new mle of intcrc-s{ until the- ne).t Inlcrest
<br />Lnangt: Dale. t'Y{'t'i't t!:tit rbi' :"'-R:!o"l~l1r' Inrpr(~~;t ratt' chnr;!..'{.> shall not t'}:c('e(~ 13.(}9('~;'.
<br />iDl Interest Aft",. o"Cauit
<br />Ibc rate of interest rc-quned b)- thl~ S~dlon 2 !s rOt: rate I will mi,e both before and aflt.~r any default des{.'ribed in Sl'(:tion
<br />9(BI below,
<br />3. CALCULATION 0.' AMOUNTS OWED EACH MONTH
<br />1be- Note liO-lder "-ill i.;akulale my FuB ~1outhiy Amount. The -.Full Monthly Amount" IS the amount of the monrhly
<br />j:myment that would he ~ufticlcnt to fCpa)' the unpaid pnnCtp-aJ halancc of my loan 'P }~~IL,,1~ . the )a~c of imCft'sl I
<br />am ~lIjred to pa)i hy Se-ctioo.\ 2(Al and 2ie} alxwe m ~uhstanuaUy equal paY".lcnlS on . 10.,-(. ~,~'_,'.~ r<__ ~ ~ t ,
<br />~O ~ ~ ,\A1.uch IS i..'-aUco the .'matunty date" !\ly hOlt FuH Monthly AnhJUnt is U_S. S <, '-'! -;. ':'J Before
<br />each Intere.s1 Change Date. the.\iote Hvkkr "'iH ..:ah:uhue the- n~\\- Full Monthly Amoum v.hit'h I will owe- tat.:h rnunth beginning
<br />\.m. tbe: tit'S-t nwolhl,-- paymenl date a!h:r the Int-ere~l Change Date.
<br />The FuJ.l Jl:onthly Amoum I <J.n' men fn:' mOly 01' leu ;han tnt' l1muuru / om ri'I{uunJ {(l pili' t'(lch mOl1.lh. St>ditm.J hdo>1
<br />stUles rht-{Uft(}unJ l~r my m(,mhl)' ptJ"!'melJ[ ami haw it "'Ill {.himgc St'{'Iiofl 5 behHV dr,KriiwJ how my unpuiJ pr1ndl'<JI balam'e
<br />wjn change ~l the llIrnJunl ilf mv mumhJ.y pa.,;mi:1Jl I,md th~ Full ....'omhi,,, i4mount art' d~tlf:rt~m.
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<br />4. PAYMENTS
<br />(A) TIIlle aIM! "*" of Pl!ymenu
<br />I wdl plly pnt"'ll"'l and lOt<:n;>t by m....wg payments ocr)' I1lvnm. My lllunlhly payments "Ill be applied 10 mtere"
<br />belM> prim;lf'lll.
<br />l;4'uJ make om) n~mthl_)' pU)'HwnbJ un the tirsl da~' of each month beginning on J:1.PlJ~lr'y l. st
<br />!9 t'., I WlU male dle-Je: p*)mc.nt~ CH."4')' monUl untd I hi1ve f.laW ;.\11 the priucii>.aJ and ~ntcrest and any other chargt;~
<br />-<lncribed hek'No thai. I may owe UtKkl l.tUilt ~ott:. If 1 :o,tdl owe amv-unt~ UnUc_f l.hi:, Note lHl the matunt) dale. 1 "Ill pa~
<br />~\te ~lUl!A Ui fuU {}{i tb:.Ql d.ate, Tho!W; 4I-llOUOttlo .:ouk! be .greater dUtJi the amouru tlf Ol}' laM Hlt.mthly payment before the
<br />-.t).~.
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<br />AOJUSTABU: PAYMENT RtDER - ~ r..mdy H!!l' - FNMA UnlIomlll1tltl'ulMnt (PI... 2-Nl!g. Am.)
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