|
<br />I
<br />
<br />ADJUSTABLE RATE RIDER
<br />
<br />(l Year ....-P.,... Ca,)
<br />
<br />THIS ADJUSTABLE RATE RIDER is m.de this..,?,~.. dayo( ..,..........:!.~...................,..,. 19 ...~t. and
<br />" Incorporated infO and sball be deemed 10 amend and supplemenl !be Mon.a"" Deed o( Trusl or SecurilY Deed
<br />(the "Securiry Inslrumenl") o( !be same dale liven by ~ uncJeni._ (!be "Borrower") fO secure Borm_r's
<br />Adjuslable Rale NOIe (!be "Nole") fO ....................$.~;l,9.f..11?rt:9:~9:'?/...J!.!q"...............,......................................,
<br />..... ,.....................,... ............ (!be "u,nder") O( !be same d.1e and coverin. the propeny
<br />descnbed In the SecurilY Inslrumenl and 10000ted a~:
<br />
<br />84 -003094
<br />
<br />.Z.H..,~..Qj'S:g;y..::-..,GF.~...+.('!J.~g,t...~.....~,~~Q!..,...................................................
<br />l~yAdd_1
<br />
<br />THE NOTE CONTAINS PIlOVISlONS ALWWING FOR CHANGES
<br />IN THE INTEREST RATE AND THE MONTHLY PAYMENT, THE
<br />8ORROWDt MAY UMFr MONTHLY PAYMENT INCIlbSIS TO
<br />-m... EACH YEAIlI' THE PROVISIONS OF THE NOTE PlRMIT IT,
<br />
<br />~SO.UL ConIs_ In .ddilioa 10 die oovenuu .nd ...._. IUde in IbeSeaaricy llIIUVllIeIIt.
<br />Borrower and Leader (unJser ooveDanl and a.-' U (ollows:
<br />
<br />A. INTEREST RATE AND MONTHLV PAVMENT CHANGES
<br />
<br />The NOIe proVIdes (or aJI ini&iaI interesl rate o( ...ll...5...... %. The Note provicIe5forcblqcsin lhein_rateiOlt:
<br />I he monlhly payments, u (olJows:
<br />
<br />4. INTEREST UTE AND MONTHLY PAYMENT CHANCES; 8ORROWDt'S RIGHT TOUMI1'i'P.Y..
<br />MENT
<br />
<br />(A) ~ 0...
<br />
<br />The .men:sl rue I wilJ pay m.y chanae on Ihe Am day o( .......,J.u4'......,....................." 19 .?:?......... .IIllA";
<br />lhal day every 12dl moodl dleraftcr, Each date oa which my interesl rate CIOuld c:lIup iI called a "CIiaq!I'O*"
<br />
<br />( B) 11Ie I'"
<br />
<br />Seem...... wldllllc 11m Chute Date, my mlClUl ralC will be baed oa ulD4u. The "IIIdex" is Ihe:~
<br />averale )'u,id on Uwted Sulsa Tre....ry seauilia adiuated fO a CIOnsUlll1 malllriry o( I yu~ u medeayailatile.,tt)!"Ihe.'
<br />hderal RClClVC 8oarcl, The _ recenl Indca I\pre ....il.ble u o( Ihe date 4S d.,.bef_.eadlo.a.;D_~~:,. '...
<br />called lhe "Cunenl 1ndc.L "
<br />
<br />If the lIIdea IS DO IoDcer available. thc NOte HoIdcr will ~ a _ indca which io based lI(11)Il'COIll..n.k;i
<br />.nformauon, The NOte HokIcr will live me JIlOCicc o( dlil choice.
<br />
<br />( C) CaInsIa.... eI 0.....
<br />
<br />1le(0IC cadi cu.,. 01-. thc Note HokIcr will calQUalel~l- __ra..b)'....,.._..:!~~:"..,..:,..:"
<br />. . .....................................-........ pcRIellc.aac pousca ( .............,.... -.) 101heeun..t llltkL TIle Note.~.
<br />wdl .h~n round Ihe ratdl of dliI addicioa ID Ihe __ olllHiabdl o( 0_ pe_....poiat (o.t,U....), Thiu'O\l"',; .;,
<br />amouDl ",.11 be my _ inlCfal llle unUllhe nnl CIuIncc Date,
<br />
<br />The NOIe Holder will chen deIcrmtIle thc a_. o( Ihe mondll, pay_U.bai would be sllllll:ii:l\'.JOlCJl!ll..'
<br />unpaId pnnccpal dlall .. e&fCQtd 10 owc al!be Chanae Dale in (uII oa,tbc JDIlUrit)' datea.my -.Ja......ra.iilt
<br />.ulmanuaUy eq.w pay_... The rnull o( this caIcullllion is wlcd chc "FuIIP.~." It willbetbc;ant....~.Gf;.
<br />my monlhly paymenl u.... I ~ the amoulll permitted by SecUoIl 4(F) below,
<br />
<br />(0) EkIM 0... 01 CIIaapa
<br />
<br />My new JfIlCfal rate will become ~ifecuvc Oil' each ChUIIC Date. I will pay thc a_I of my_lIlOlI.ddy
<br />paymcDl beallUUDa on the fine moalhly paymenl dace afler the Chanae Date ulllil thc _I o( my.mOlldl1y
<br />paY'lllCm chanca apea.
<br />
<br />(E) NlIIice 01 0.....
<br />
<br />The NOIC Holder will deliver or mail 10 mc a nouce o( any challpl in my inleresl ra.. and the amOllnl o( my
<br />_n~hly paymelll before Ihe ~d'caJw dale o( any chaD&~, The nolic:c will iadude ill(ormlllion requilCd by law to be
<br />lIven me and al.., !be 1Ic1c lAd cdepbollc number 0( a penon who will aJ\Swer aoy q_lioIll may have re.aretin. thc
<br />ROUtt
<br />
<br />
<br />,.]:,
<br />i
<br />];;
<br />,.~
<br />I
<br />-~
<br />J!
<br />;
<br />fJ
<br />~
<br />~
<br />;:1
<br />"~
<br />"1
<br />J
<br />
<br />,....i'\
<br />
<br />if'!
<br />~ ~~ik
<br />. if;
<br />"iJi
<br />~]
<br />~@;
<br />1~
<br />~
<br />
<br />~;
<br />'i',:;
<br />
<br />\ F) a..n..er'. lIiPl "I Uaoil MocscIIl, '.'_1
<br />
<br />U olc:u Sccbooo 4( H ) and 4( I) below wtll not pernut mc .0 do so. I may choose to hmJllhe amounlo( my new
<br />_lIthly Plymcac followlq . Chanae Date ID the llmounl I have beeR Pllym. mulliplied by lhe RlImber 1.075, This
<br />.moun. .. wled che "Ulftjted Pay_Ill. " If I ct..M a u.;... Pa~' .. .y ~ ,.,_1. 1 ...t liye tile
<br />""- H.... ...,. ..... 1 _ .... .. .1 Ieul 15 cia,. bef_e .y lint ... .....1, ,.y_1 Is due.
<br />
<br />(G I .<<...ilIM 10 My U..... PriIIe..l
<br />
<br />If I c~ 10 pay !be LUlUted P.YlIlClII. my monlhly pay_OI could be 1_ than the amOllne of Ihe lnlefnt
<br />pomon 0( the _dll, payme.. dlal would be Jl!l\'lclcollO repay the unpa.d priDgpall OW" at the mOfltbly pay",,,,,,
<br /><lalt' ... full <HI thc manuMY da.. ... sublcallually eqllal paymeon., If so, each moDlh thaI lhe Limlccd Paymellt IS leu
<br />IhM thc "'''''Cll pur1IOA. the NOle Holder Will subcrllCC the Llmncd Payment from the amounl of thc ,"tcte>. portion
<br />
<br />__TAn """"'-..Mn__, '1_ '1-,____.______
<br />
<br />~.",_ JIO~ 1-1""
<br />
|