83006070 - Laserfiche WebLink

Browse

r ~;j ~ ADJUSTABLE RATE RIDER 83-- OO;8~.~<>:.; r THISA[}]USTABLE RATE RlOl!Rismade this .4t~..... dll}'of...............Nl:t\;(arntle;r:c.:,..;;.;;.,19 aad is incoi"pQraled irlo and shall be deemed to amend andsupplemeot Ihe~ongage'Deeq~fJ"~t.. SecilreDebt . (the "Security Inslrument"1 of tile. S1\",e da,e given by tbe undersigl\ed(the\'!l<>rr?~~r'~J Borrower's Adjustable Rate Note to ....~!;!!U'J,...@,W!!\.!;?$.~!'!.,...!.Jr.t~l;,+.~li!.Q:..~......:.....,.......,............;..,.:::..,.., ................................................................................... (the "linder")of tbe same date ( tbe "Note") a'nd,CQ' pl"Openy described in the Security Instrument and.IQcated at: .. ............~.??.~~.?.~ ...f?!:~rf.J. ...~E!'!.~Q..I~),~.I]\!J....~~9.t?i!k.?........... ...!'lS.e.Ql................................ ...............h..;;.A;;.h;.s);l~'. (prC>PGrtY':"drtiMl>. ...... .;, ...... . . ........ ......<. .<{.;~ The Not. containsprovlsionnltowlngfC)fcl1lmg..lnthelnt81..tratll';.lf tlUt'l"t...~if<.t", '.. 'f: l~ ttleBonower'a monthly pa,J1len.. Win be higli81, if lhlflmerftt','rate.. '1 ~,tfutBorrower'.montl1lypa~"Wjnbelower;.. '. ... '.. . ... ;...i.'d'/ d4 ADDITIONAL COVENANTS. In addition to the covenant.and.agreementsmatleinthe.Security.lnstrn:meilt;.~.w.et" . . . and Under tunber covenant and agree as follows: .~ k INTEREST RATE AND MONTHLY PAYMENT CHANGES. . . .. ..... .... .ui. The Note provides for an initial interest rate of .....J.l.,.7.5.......%. Scction 4 of the Noteprovides.for'ch:inges.iihilt~ interest nile and tbe mombly payments, as follows: -'- / 4. INTEREST RATE AND MONmLY PA YMENT CHANGES (A) Clumge Dates The interest rate I will pay may cb311ge on thc ..........h.t...m.u. day of ..........JanuaJ:,y.............,........ 19:85:.:. and on that day ot'the montbcvery ........AZ..muhu.... months tbereafter. Eacb date on wbicb my intereSl(ate couldcbange is caUeda "Change Date." The minimum rate charged will be no less than 9.5% and the. (8) The Index maximum rate charged will be no more than 14.5%. Beginning witll tile first Change Date,my interest rate will be b.ased on an "Index." Tbelndex istllc weekly average yield on United States Treasury securities adjusted to a constant maturity of ...u.....o.~e:........... years, as macle available by the Federal Reserve Board. Tbe most recent Index figure available as of 45 days before eacb Cbange Date is called the "Current Index." If the Index is no longer available, tbe Note Holder will choose a new index wbich is based upon comparable information. The Note Holder will give me notice of its cboice. r C) Calculation of Changes Before eacb Cbange Date. the Note Holder will calculate my new interest rate by adding .......Three..............., .......................,.............u....... percentage points (..........3............%) to the Current Index. The sum will be my new inltrest rate., rounded to the nearest 1/8%. The Note Holder will then determine tbe amount of the montbly payment that would be sufficient to repay in full the principal I am expected to owe on tbe Change Date in SUbstantially equal paymenls by tbe maturity date at my new interest rate. The result of tbis calculation wilt be tbe llew amount of my monthly payment. (I)) ElI'ective Date of Changes My new interest rate will become effective on eacb Change Dale. I will pay tbe amount of my new Olonthly payment begilUling on the first monthly payment date after tbe Cbange Date until the amount of my monthly payment changes again. (E) Notiee of Changes The Note Holder will mail or deliver to me a notice before each Cbange Date. Tbe notice will advise me of: (i) the new interest rate 00 my loan as of tbe Cbange Date; (Ii) the amount of my monthly payment following the Change Date; (iii) any additional matters wbich tbe Note Holder is required to disclose; and (iv) thetille and telepoone number of a person wbo will answer any question I may bave regarding tbe notice. B. CHARC~ LIt;NS Uniform C.ovenant 4 of tile Security Instrument is amended to read as follows: 4.Cbarps; Ueus. BolTOwer shall pay all taxes. assessments, and otber cbarges. fines and impositions amibutable to ~l'~~y which lII~y attain a priority over this Security Instrument, and leasehold payments or ground rents. if qy. in, the manJlef provided under paragraph 2 bereof or. if not paid in such manner, by Borrower making payment. w~ due. directly to the payee thereof. Borrower sball promptly furnish to Lender all notices of amounts duc under t~J!l'I~Jf~,.lIdjntheeventllorrowenhalI make payment directly, Borrower sball promptly furnish to Lendcr ~~~~~Cs\!thp;tymellts. Borrowersball.promptly discharge any lien which bas priority over this Security IllSl@mM~no..._r'Borrower shllll nOt ber.:quired to discharge any sucb lien so long as Borrower: ( a) sballagrei: ill ~.~~~yment of the obligation secured by such lien in a manner acceptable w Lender; (b) shall in good C1"'FQlMH'IWI~ UNiFQaMAD1USlAiLERATE LOAft...-llREASl!ll't Itllli'XHI83