84003232 - Laserfiche WebLink

Browse

r (8) Additions to My Unpaid Principal: I f I choose to pay the Limited Payment. my monthly payment could be less than the amount of the interest portion of the monthly payment that would be sufficient to repay the unpaid principal I owe at the monthly payment date in full on the maturity date in substantially equal payments, If so, each month that the Limited Payment is less than the interest portion. the Note Holder will subtract the Limited Payment from the amount of the interest portion and will add the difference to,myun- paid principal, The Note Holder will also add interest on the amount of this differenoo,to my unpaid principal each month. The interest rate on the interest addea to pnncipal wiil be the rate required hy ~tion At:-l) above, (9) Limit on My Unpaid Principal; Increased Monthly Paymenta:My unpaid principalClUl neverexceerl'a maximum amount equal to one hundred twenty-five pe""ent 1125%) of the principal amount Ioriginallybor- rowed, My unpaid principal could excel'n that maximum amount if I pay a Limited Payment, If so,on thedll~ that my paying my Limited Payment would c.ause me to exceed that limit. I willinsteadbeginparinga,nll;w monthly payment until the next rate change date. The new monthly payment will be in an, amount: whiclt would be sufficient to repey my then unpaid principal in full on the maturity date at my current interest rate in substantially '''lual payments. nOt Required F'nll Payment: Beginning with the first monthly payment after the final RateChangeJ)ate, I will pay the Full Payment as my monthly payment, B. LOAN CHARGES: I t could be that the loan secured by r.he Security I nstrument is subject to a law which sets maximrim.lOOn.' charges and that law is interpreted so that the interest or other loan charges collected or to beco!lectedini::on~', nection with the loan would exceed permitted limits, If this is the caae, then: HI any such1oan.charge;shalt~ reduced by the amounr. net''''''',,,y to reduce the charge to the permitted limit; and ~2)any SUlIlS already(;!)l~' leeted from Borrower which exceeded permitted limits will be refunded to Borrower, Lender maychoOse:'tt)' make this refund by n>ducin{/; the principal owed under the Note or by making a direccpayment to Borrower.,' C. PRIOR LIENS: If Lender determines that ,,11 or any part of th" sums st'Cured by this Security Instrument are subject to a lien which has priority over tbis S~'curity 1 nstrument.. Lender may send Borrower a notice identifying that lien. Borrower shajj promptly ""'Cur" an agreement in " Corm satisCuctory tol..ender subordinating that liehto this S{l(;urity InsLrumenl. l), TRANS~'ER OF THE PIWPEItTY: If there is a t.ransfer o{ the I'rofJt'rty as deser;h....l in the Security Instrument. Lender may require ill an in- erease in the curt'e::.nt Note intert....st rule. (Jr (.2) an increa~ in (or removal on the limit on the amQunt (if-anyone interest rat<. chang.. HI th..re IS a iill1it), or 1:31" change in the Baee Index Cigure, or all of these, as a condition of the Lt.'nder.s wtilving the option to a.Lcel~rltLe provided in the Security Instru.m-ent. By signing b~low. Borrower accepts and ah'TOOS to the t.erms and covenants contained in this Adjustable k.at.e k.ider. .' 1\~/L_"11 ,,;7 / , i.~' ~lJ.j~{"ljj-rL_ /rJ '~~L../2,_/},,~2Jn./;-t../ .Cath~M: "~~._..~_.~--_._-_.- Bor;";;;-;~ Borrower ..,., eo~ ~~ a. L Q ,:' I ! ~ r . ~ i ~ \~. ' b~ i' r >'i~ 8 '.,}. Ii' , ~ 1 r.... j ~ f\..;t a i 1 lW Z f"0 () ,- ... .-.... l>- ea U) -i ;.0 l>- o -f ADJUSTABLE RATE LOAN RIDER lfHH." ij4