83006427 - Laserfiche WebLink

Browse

I" Loan No. .....560J.(r.,1::-l.8..... Q ADJUSTABLE RATE LOAN RIDER 83-006427 NOTICE: THE SECURITY INSTRUMENT SECURES A NOTE WHICH CONTAINS A PROVISION ALLOWING FOR CHANGES IN THE INTEREST RATE. IN- CREASES IN THE INTEREST RATE WILL RESULT IN HIGHER PAYMENTS. DECREASES IN THE INTEREST RATE WILL RESULT IN LOWER PAYMENTS. This Rider is made this ....200............. day of ........~~..................., 19...~~., and is incorporated into and shall be 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- rower"" Note ..to.. .._........................ ..... ....... .................. ........ ....... .... ........ ..... .............................................._u............... r:.t+.l!T" .f.~~Il:r.lll..Sil.Y.1.11g.$. ..amL~QA);t..1).lillQc.1.a);.t.Qll..Qf..],.J.!I!; R.ln ~.. !!..JJ.n;t~!?It..~.t.l!!;!',!!..s.Q~P!?r.l!H!?\'!... (tne "Lender") of the same date (the "Note") and covering the property described in the Security Instru- moot and located at ..4.Q69.).'.ala~.e...D.xi.y.e....m .........m..Grand..l.s.land~..NehI:ask.a..6B.8.Ql......_... Property Address MODIFICATIONS. In addition to the covenants and agreements made in the Security Instrument, Bor- rower and Lender further COVE'.nant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note has an "Initial Interest Rate" oL....lL.7.S0.... % Interest rate changes may occur on the 1st day of .................m... ...April........... 19..135.. and on the 1st day of ...............................Ju.Lyc............, 19.85... and on the 1st day of .....m..................Uctnher....., 19...8.~. and on the 1st day of ...............................Januar.}c...., ]9..86.. and on those dat$ of those months in ever;{ yeftr thereafter. Each date on which the rate of interest may change will be called a ;'Rate Change Date' . Chang.... in principal and interest payments to adjust amortization of the loan to correspond with interest rate changes shall be made on the 1st day of ...............;................,Ja""""r:l'.....;.., 19.8.6... and on that date every ....~=..... year(s) thereafter. Each date on which the pnnClpal and mterest payment may c.hange will be called a "Payment Change Date". Changes in the int.erest 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 l'ttajor Types of Lendel'8" published by the Federal Hame Loan Bank Board. (2) iiiJ -AQ:l_l;al>-l.....R'"'....N'*....~.. M0Ml>-.l.y-...a._-cag.. '.l'i..J..d... Q.....U_S_.. .Tre.u.uq...... Sec uri.t.j,_.......j~...d..-t~..Q......,nK.n"C.. ._t,Ulft.t.l'.........j. ..1'..a......pul>J.'Lshed-..b;r...t.he...Ee.dera.L,Re arve...B.as rd. Check box(es) t<> 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 interest rate that I pav shall not decrease more than .................... percentage points on any Rate Change Date. . . (4). iiiJ If. this box is checked, the interest rate that I pay shall never be more than ...:1..3-..950....% dunng thlf penod I have my loan. (5) !;] If this box i.~ checked, the interest rate that I pay shall never be less than ...9,.-950-.....% during thg- period I have my loan. . (6) 0 If this box i.~ checked, the principal and interest payment that I pay shall not increase more than .................... pettent on any Payment Change Date. (7) 0 If this box is checked, the principal and interest payment that I pay shall not decrease more than .....u............. pemmt on any Payment Change Date. The monthly payment amounts will also change on Payment Change Dates as provided in the Note. ~ payment changee.may occur 1_ often than interest rate changes and/or may be subject to certain limitations described in the Note, the monthly payments may be insufficient at times to pav accruing in~ lneuch eaae, unpeid interest is added to the principal balance of the Note and itself ivill accrue intenat. thereafter. 1'-- u L -3 L