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<br />84 -002833
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<br />Loan No, ......'~.51:15-1-1.a...,
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<br />ADJUSTABLE RATE LOAN RIDER
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<br />NOTICE: THE SECURITY INSTRUMENT SECURES A NOTE WHICH CONTAINS
<br />A PROVISION ALLOWING FOR CHANGES IN THE INTEREST RATE, IN'.
<br />CREASES IN THE INTEREST RATE WILL RESULT IN mGHERPAYMEl~'
<br />DECREASES IN THE INTEREST RATE '''ILL RESULT IN LOWER PAYMENTS:'
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<br />This Rider is made this ....,...;!.;!J;A___.... day of ............___............~y..........., 19!t4...., andisim:cl~ted
<br />into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Det!dto~:~t'
<br />(the "Security Instrument") of the same date given by the undersigned (the "BOrrower") to'~:BQr.;:
<br />rower's Note to .. ,...... ...."", ",...... ....", ,.............. "..".",..,..,.. .,....'... ..",...,............m..................:...,..,...,::.,:::;;",.;Xi;,,~{,.:..
<br />.l'-its.t,.F.edeI:al"Sallings"and,.Loan, Association,.of,.LiocD.ln",.a,. Uni.t,e.Q..S~,Q.t.~l!,-:Q.W9.!:~~~P,~..
<br />(the "Lender") of the same date (the "Note") and covering the property describeditt'tIre~:InilfiIi"'
<br />ment and located at ..E6L East...G.wf.f....... ,...........,.. ,....,.....,........,ar.and.lsland,...Ne.t:l:taskS.c.:6BB.Clli",:....,
<br />Property Addrellll
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<br />MODIFICATIONS. In addition to the covenants and agreements made in the Security InstrQm.ent;'BOr~"
<br />rower and Lender further covenant and agree as follows:
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<br />A. INTEREST RATE AND MONTHLY PAYMENT CHANGES
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<br />The Note has an "Initial Interest Rate" oL......ll_5ML %
<br />Interest rate changes may occur on the 1st day of .................................Sep.tembe.t; 19m.e2.and.9tt;~.
<br />1st day of .........................,...,..QilC8mbet.., 19..aS. and on the 1st day of ...........................Man:.b........, 19L~
<br />and on the 1st day of .................................JuQe...,---..." 19....86 and on those dates of those monthsine~
<br />year thereafter, Each date on which the rate of interest may change will be called a "Rate ChengeDate'.
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<br />Changes in principal and interest payments to adjust amortization of the loan to colTl!llpond with
<br />interest rate changes shall be made on the 1st day of ...................................lJne............., 19...86. and on that.
<br />date every .._____... year(s) thereafter. Each date on whicl. the principal and interest payment may
<br />change will be called a "Payment Change Date",
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<br />Changes in the interest rate are governed by changes in an interest rate index called the "Index".
<br />Check box(es) to indicate Index.
<br />(1) 0 "Contract Interest Rate, Purchase of Previously Occupied Homes, National Average .for ,all.
<br />Major Types of Lenders" published by the Federal Home Loan Bank Board,
<br />(2) Q ..Adj$tab-le'flate,-Note....,Mooth-ly:, ,a>,ier.aQ8-.,y.ielcl"on.U..s_...T.I:easux:Efc..s.e.curitieS.
<br />adjusted.,to...a..cansl:ant..matUJ:it.y,..of..l.,'/.eaI,..pul.i.lisbe,d..~y...t.,he..fg.Q!,!:I;'.~+..,R!'!.~J::~~,..,.~!'!!;.9.~.......,....,...
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<br />Check box(es) to indicate limits.
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<br />(1) 0 If this box is checked, there will he no macumum limit on changes in the intel'ellt .rateupor
<br />down, The Preliminary Rate referred to in the Note, will be the new interest rate. "
<br />(2) 0 If this box is checked, the interest rate that I pay shall not increase more than .......,.....,......
<br />percentage points on any Rate Change Date,
<br />(3) 0 If this box is checked, the interest rate that I pay shall not decrease more than ....................
<br />percentage points on any Rate Change Date.
<br />(4) Q(1f this box is checked, the interest rate that I pay shall never be more than .....n,.:2.?Q..%
<br />during the period I have my loan.
<br />(5) Dxlf this box is checked, the interest rate that I pay shall never be less than .....Q............,%
<br />during the period I have my loan. '
<br />(6) 0 If this box is checked, the principal and interest payment that I pay shall not increase more
<br />than .................... percent on any Payment Change Date, ,
<br />(7) 0 If this box is checked, the principal and interest payment that I pay shall not decrease more
<br />than ..................., percent on any Payment Change Date,
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<br />The monthly payment amounts will also change on Payment Change Dates as provided in the Note,
<br />Because payment changes may occur less often than interest rate changes and/or may be subject to certain
<br />limitations described in the Note, the monthly payments may be insufficient at times to pay accruing
<br />interest, In such case, unpaid interest is added to the principal balance of the Note and itself will accrue
<br />interest thereafter,
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