|
<br />I
<br />
<br />,<I
<br />,
<br />
<br />003011
<br />
<br />B L\ ~......
<br />
<br />Loan No. ....5.S9U2..-,l..Ja.....
<br />
<br />Qz
<br />
<br />ADJUSTABLE RATE WAN RIDER
<br />
<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 mGHERPAYMJi:N'llS.,;
<br />DECREASES IN THE INTEREST RATE WILL RESULT IN LOWEaPAYMENTS;'
<br />
<br />This Rider is made this ..... .lith. ,,0., day of ".0.. ....hm.....J.une..h........ 19..a~_, and is .~.
<br />:nw and e!u!!! be d~ed to !!mend !U~.d auppltmlent t.,h.e ~-.-1ort'..g~-gc~ Deed of Trust, or Deed- tG:~tD'6,;;"-
<br />(the "Security Instrument") 01 the same date given by the undersigned (the "Borroww") tolllleU.''''
<br />
<br />rower's Note to .. ......0.0...... ....0......0............0....,..,..............,0......,..........0.............,..........-...............,_~...,:'-i_.,L",.,;;...
<br />Pi,",,~..F.e!!l!J'~~.. ~,rv1r1g'!l.tlIld)".0Il1l. ..A.l!l!Qc,i,!!~~.<?!l,o r.. Ll..n.9<),l!.lo." !l..gn~~)~~,~.!!U?9..m!9!!!.J,~...
<br />(the "Lender") of the same date (the "Note") Md c()Veringthep~delcrihedin'the~?t....
<br />ment and l.-tM at 9011J{j)!"t!'l A~ mh" ........'m..h..Gran.d..IAland....llel:lJ:.a.ska;,.~a81Lt:_.......
<br />Property A~
<br />
<br />MODIFICA nONS. In addition to the eovenants and agreements ronde in the Security IlIIltrument,cBOr-
<br />rower and Lender further covenant and agree as follow8:
<br />
<br />A. INTEREST RATE AND MONTHLY PAYMENT CHANGES
<br />
<br />The Note has sn "Initial Inte.rest Rate" ot... 12...o.9Q co,%
<br />Interest rate ch8IlltE"l may occur on the 1st day of CO.co. . .. .O!:ttQbfll'......, 19JI.5... andont;be
<br />jgt dav of Ji!!'l.i},4\rY.h, 19.~... nnd on the 1st day of ................._.j.P~ll._...._... 19.J!~:..
<br />and o~ the 1st day of.....,...,JJ.i.U.......19. 6fi. and on those datell of tl1,- montbll in~
<br />year therooIt..r, Each date nn which 'he rate of interest may chang" will be called a "Rate Chanp Date.
<br />
<br />Changes in principal and intemJt payments to adjust amortizat.ion of the loan to comwpond with
<br />int.erlll<t rate chanI!es .hall be made on the 1st day of................!uljl................ 19.86... and _that
<br />date every ~~~~~~~ "".arl.) th""""fter. l<::ach date on which the principallUld in~ pIlyment may
<br /><'tlange will be caUN! a "Payment Cbange Date",
<br />l 'hlUlgtlS m the mt"""'t rate are governed by ('hang... to un intel't'l!t f>lte index called the "Index",
<br />Chock box I 6ft j to indK-ate Index,
<br />\ 1) c.: "Contract lntertl!lt Rate, Purcha.... of PreviOludy Occupied Homes. National Average for aU
<br />\Iaior Typ"" of Lendenl" pubiillhed by the Federal Home Loon Bank llaard.
<br />; 21 (J Adjuata.lll.e.llal.a.N uta ~ Mont.hl.y all'erage. ..Y.iel.d,a.n. 11..5... Ir.ea&.tr-y...'3.aauriUes...
<br />ad ..ju"t..ed,to..a...c~. -.t.ur..it,y.. .cf. 1. year. pub.U3had..bjl...t.be. Ea1eI!a1..Jl~lte..,.Boa.rd....................
<br />ell",,;' boxi...) to indicate lirmta.
<br />
<br />I I) c: if t..'lil< hex is chec.ked. ~ .....n be no maximum limit on cha,ngllfl in the inW1'eIlt rate up or
<br />tim\'7i. The Prei.iminary !lat~~ rdit~ t-o in the Not-e. ",,-ill t)€, the nt-ow interest rate.
<br />
<br />(2) If thill box is che<':Ited. the mWt'est rate tI'o1lt I pay shall not incre&oo more than
<br />JX''''.>ntlll-l'' pomts '''' any Rat<- Chang" Llat<-..
<br />
<br />III . ; If this box is eha'ked, the mterest l'IIte that I pay shaU not decrease more than ....
<br />percentage points on any Hate Change Date,
<br />
<br />1.,,) .Xi If this ~ ~ dlockmi, th-i;< iniefAt rate tr-Uit 1 pay shall ntN;:r he Ir'J)i'G: tha.~ . ~tfi~;-s.o.~." %
<br />during the penod I l!a,'ll! my loan..
<br />
<br />\ f,) ~ If thi8 box is ,1le..,ked. the mte......t rate that I pay shall neWll' be 1_ than ..,0.............. %
<br />dunng the penod i nav" my loan,
<br />
<br />'6) 1l this box "' checked, the pnn(~pal and inten..t payment that I pay "hall not increase more
<br />than pt"l'\.'ent on any Payment Chang" DatA;,
<br />
<br />( ;) ..., If this box is chcckml. th" prineipal and inten."t payment that I pay ..hall not decrease more
<br />tban percent 011 any Payment ('hang!! Date..
<br />
<br />The monthly peyment amounts will aLia <change on Payment Chan!;" Dates as nrovided in the Note.
<br />Bcca_ payment dllmll('Ji/ may OCt.'Ur less olt..n than interest I'1'1te chang... and/or may be subjoct to eertain
<br />i1mitatj"ll1I ,~bed ;n the Not... the monthly pavnwn!;J; may be 111Sutlident at tim.... to I'"Y ncenlit1l!
<br />mt~t In :such ("UC, unpaid ln~ 18 added to t.he iJnneipai ba~'inw ~}f the. Now and iLw f w-ill accrue
<br />Ul_~ ther...aiter,
<br />
<br />f_>i'l4'f.
<br />
<br />u
<br />
<br />L
<br />
<br />~
<br />
<br />L
<br />
|