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r ....::.., . ADJUSTABLE RATE RIDER 83-006082 r THIS ADJUSTABLE RATE RIDER is made this ...JJI.t.tJ. day of ..........N.o.v.l'mbl'r................... 19~.B:i., a"disin<\Orporaledinto and shaUbe deemed 10 amend and supplement the Mortgage. Deed of Trust. .or Deed to ~re;Debl (the "Security Instrument") of the same date given by the undersigned (the "Borrower") to seCure D'ortowei's Adjustable Rate Note to ...JE.Elfl.Y,..L.....sCl:lUI..T.l..ANO..UNli~I....sv..,<;;CHl&+l.)...bJ.lspal:ld..and;'Jl!.i;f~ .i....i....,........................................................................ (the "Lender") of the same dalt (the "Note") and. covering. the property described in the Security Instrument and located at: .........................................~.~.?..?.o.~.l:.h...fJ.?!:f>.,...r:;.Em.9..J3?~.?r..t;iA..J\lot~X.'i!ii!';.9........Q.ll!IQl...........................,................ (Property.Address) . The Note contains provl8lona allowing for chang.. In the Intareat rate. If thelnler..tr.te increlItM, the Borrower's mOilthIy PlIJlnente will be higher. If theintereat r.te decrenM, the Borrower'. monthly payments will be lower. AoomONAL COVENANTS. In addition to the covenant and agreements made in the Security Instrument, BOrrower and Lender further covenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of . ....1L..........%. Section 4 of the Note provides for changes in' the intere$! rale and the monthly payments. as follows: 4. INTEREST RATE AND lotoNTHLY P.4YMENT CHANGES (A) O1ange Dates The interest rate I will pay may change On the ..ls.t........... .... day of ..................J.anwar.y............. 19...85... and on that day of [he month every. ...............12 ..... months thereafter. Each date on which my interest rate could change is calIed a "Change Date." The minimum rate charged will be no less than 9.5% and the (B) The Index maximum rate charged will be no more than 14.5%. Beginnilli with the first Change Date. my interest rate will be based on an "Index." The Index is the weeldy average yield on United States Treasury securities adjusted to a constant maturity of .......CIne.............. years. as made available by the Federal Reserve Board. The most recent Index figure available as of 45 days before each Change Date is called the "Current Index." If the Indel( is no longer available. the Note Holder will choose a new index which is b~d upon comparable information. The NOle Holder will give me notice of its choice. (C) Calculation of Changes Be~~:~ )'ach Change Date. the NOle Holder will cal~l~te my new interest rale by adding t\i!Q...?G.r;I...QO"'.~........ ...........;.:,,;~L........................ per~-entage point:. (........u....~.,..~...%) to the Current Index. The sum will be my new Interest rate, rounded to the nearest 1/8th:t. The Note Holder will then Uetermme the amount of the monthly p:Jyment that would be sufficient (0 repay in full the principal I am expected to o)we on the Change Date in substantially equal payments by the maturity date at my new interest rate. The rosuh of Ihls caiculation will be the new amount of my monthly payment. (D) Effective Date of Changes My new interest rate will become e/fecu\e on eael, Change Date. I will pay the amount of my new monthly payment beginning on Ihe fifSl ownthly payment date after Ihe Change Dale until Ihe amount of my monthly payment changes again. (Ii:) Notiee of Chanllcs The Note Holder will mail or deh~'et to me a nOIK-e before each Change Date. The nouce will adVise me of: \ i} the new interest rate on my loan as of the Change Dale; (ii) the amount of my mumhly payment following the Change Date; (iii) any additional mailers which the NOle Holder is required to disclose; and (iv) the title and telephone number of a person who will answer any question 1 may have regarding the notice. B. CtiARCES; WENS Uniform Covenant 4 of the Seeumy Instrument is amended to read as follows; 4, CIuuJes; LiS$. Borrower shall pay an laXes. assessments. and other charges. fines and impositions attributable to tllQ Propclt.Y which may allam a priority o."ef this Security Instrument. and leasehold payments or ground renl.. if any, in tile manner provided under paragraph 2 hereof or. if not paid in such manner. by Borrower making payment, when due. dire(;tly II) the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this patagraph, and in the event Borrower shall make payment directly. Borrower shall promptly furnish to Lender ~pu evidellci1'l,illCh paymenu. Borrower shall promplly discharge any lien which has ~)riorily Over this Security IllllNmellt; ho_cr. !Iocr.....er shall no! be requirM to discharge any such lien so long as Borrower: (a) shall agree in wrilinllQ IIlQ paynlent or IIlQ obhgallOJl secured by sucl1lien in a manner acceptable 10 Lender; \ b} shall in good UlIAt. f~KlMC UNIfORM AllSUSTABU RATE tOAlt-PRfMUfl\' i/iflUH!iJ