83006133 - Laserfiche WebLink

Browse

I" Loan No. .....2.?p.41::1:::J.!L... Qz ADJUSTABLE RATE I!JAN RIDER 83-() 06133 NOTICE: TIm SECURITY INSTRUMENT SECURES A NOTE WHICH CONTAINS A P:ROVISION ALLOWING FOR CHANGES IN TIm IN'I'ERESTRATE. IN- QREASES IN THE INTEREST RATE WILL RESULT IN HIGHER PAYMENTS. DECREASES IN THE INTEREST RATE WILL RESULT IN LOWE:R PAYMENTS. This Rider is made this h..m;!..9.!::h........ day of ..........m..;Ngy~..mm..., 19..~}..and is incorporated into and shallbe deemed to amend and supplement the Mortgage. Deed of Trust. or Deed to Secure Debt (the "SeCUrity Instrument") of the same date given by the undersigned (the "BorroWer") to secure BOr- !.~~~~.~~r~~.L~~yI~~~::~'ii{:~~a;~::~~:~~~1~~~~~::9:L~!~C.:o.~;;:;:::a;::~~~~~~:::~~~E~:~::~~:~P.~~~:~:~~~::: (the "Lender") of the same date (the "Note") and covering the property described inthe SecurilfInstru. ment and located at .}.~.1.g..!!~"!.~...~!;E~':!;................... ....................!!.9.2!!...~JY~EI...~~.~E?!!~~...~~~.~.............m Property Address MODIFICATIONS. In addition to the covenants and agreements made in the Security Instrument. Bor- rower and Lender further covenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note has an "Initial Interest Rate" of.......J.?!.??.9.... % Interest rate changes may occur on the 1st day of ......m..................h...~.~.<;.!t..m.n.. 19...~~. and on the 1st day of..........m....m......mm-I\\!!!L........., 19..lJ.?.. and on the 1st day of h...mm..m..n......!?~.P.!:~!ll.l?~.E, 19...~:? and on the 1st day of ....m..................m....p.gg.~.ll!!1grm' 19...~.?. and on those dates of those months in every year thereafter. Each date on which the rate of interest may change will be called a "Rate Change Date". Changes in principal and interest payments to adjust amortization of the loan to correspond with interest rate changes shall he made on the 1st day of ...mmm.m.......m....mD.e.c.ew.1;>.e.Lm., 19..~?.. and onthat date every ....::.::::::::.::::.m year(s) thereafter. Each date on which the principal and interest payment may change will be called a "Payment Change Date". Changes in the interest rate are governed by changes in an interest rate index called the "Index". Check box (es) to indicate Index. (1) 0 "Contract Interest Rate, Purchase of Previously Occupied Homes, National Average for all M<:!jorTypes of Lenders" published by the Federal Home Loan Bank Board. (2) gg .A<ijyJ>.t.a.lllli:...Riltli:.J:...Qtli:...::..MQ:Q.thly....i\J1IU..{l.&!l..y.J.!lJA..9.!!..!!.:.?!...!.~.~~!?~.~..........,............... Secur:l.J;J~Il..ilJii\lIlJ;.e.dutg...a.~Q.tllltlmt:...Jllil.t!.rc:j,ty....Qt:.)...y..e.a!:..);>M!1J,;l,~.h~!1..!?y..~!?~....~g!!~.!.?:~..g.~;>.~!y.~...!!~ard . Checkbox(es) to indicate limits. (1) 0 If this box is checked, there will be no maximum limit on changes in the interest rate up or down. The Preliminary Rate referred to in the Note, will be the new interest rate. (2) 0 If this box is checked, the interest rate that I pay shall not increase more than .................... percentage points on any Rate Change Date. (3) 0 If this box is checked, the interel't rate that I pay shall not decrease more than ........mm..h.. percentage points on any Rate Change Date. (4) !Xl If this Qox is checked, the interest ra~ that I pay shall nev.er be more than ...l3A9~.Q... % during the period I have my loan. (5)00 If this box is checked, the interest rate that I pay shall never be less than ....9.A95.Q.....% during the period I have my loan. (6) 0 If this box is checked, the principal and interest payment that I pay shall not increase more than ........m......... percent on any Payment Change Date. (7) 0 If this Qox is checked, the principal and interest payment that I pay shall not decreasemor~ ~ ............,....... per<:entonany Payment Change Date. The monthly payment amounts will also change cr Payment Change Dates as provided in the Note. Beca\lSe payment changes may occur less often than interest rate changes and/or may be. subject to certain limitations desl)ribed in the Note, the monthly payments may be insufficient at times to pay accruing interest. In such case, unpaid interest is added to the principal balance of the Note and itself will accrue interest thereafter. Fonn 8i3 u L- L -.J L