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<br />THIS ADJUSTABtE RATE RIDER ismad.ethis
<br />is incorporatcd int.o and shall be dcemed to and
<br />(the "Security Instrument") ofthcsame
<br />Adjustable Rate Note (the "Notc") to
<br />
<br />
<br />r
<br />
<br />ADJUSTABLERA TE. RIDER
<br />(1 Year Index-Paymenl Cap)
<br />
<br />ADDITtONAL COVENANTS. In addition to ~he covenants. and agreemellts
<br />Borrower and Lendcr funlter covenant and agree as follows: .
<br />
<br />A. INTEREST RATE AND MONTHLY PAYMENT CHANGES
<br />
<br />The Note provides for an initial interesl rate of ....)..+,~.2..., %, The Notc provides for
<br />the monthly payments, as follows:
<br />
<br />4, INTEREST RATE AND MONTHLY PAYMENT CHANGES;
<br />MENT
<br />
<br />(A) Change Dates
<br />
<br />The interest rate I will pay may change on the first day of ............J.\J,+:y.....................,....., 19
<br />that day every 12th month thereafteL Each date on which my interest rate could change is called a
<br />
<br />( B) The Index
<br />
<br />Beginning with the first Change Date, my interest rate will be based on an Index, Theulndex"isthe.weekly
<br />average yield on United States Treasury securities adjusted to a constant maturity of I year, as made available.by..thlt
<br />Federal Reserve Board, The most recent Index figure available as of the date 45 days before each Change Date is.
<br />called the "Current Index,"
<br />
<br />If the Index is no longer available, the Note Holder will choose a new index which is based upon comparable"
<br />,"formation. The Note Holder will give me notice of this choice,
<br />
<br />( C) Calcu la tion of Changes
<br />
<br />Before each Change Date, the Note Holder will calculate my new interest rate by adding ....Qn!?,c?l")Q.,...
<br />.....sixC't~ntl1s,.............,................,.... percentage points ( .,.:1-".1'1......... %) to the Current Index, The Note Holder
<br />will then round the result of this addition to the nearest one-eighth of one percentage point (0.125%), This rounded
<br />amount will he my new interest rate until the next Change Date,
<br />
<br />The Note Holder wiJIthen determine the amount of the monthly payment that would be sufficient to repay the
<br />unpaid principallhat I am expected to owe at the Change Date in full on the maturity date at my new interest rate in
<br />substanually equal payments. The result of this calculalion is called Ihe "FuIIPayment," !twill be the new amo.untof
<br />my monthly. payment unless I choose the amount permined by Section 4( F) below,
<br />
<br />(0) Effective Date of Changes
<br />
<br />~,,1y n~w lntde:st Io.h::: will OC(;4)JHC t'ue\:t.i't't:" on ta.dl Change Dat,e. I wiU-'pay lhe- amo,unt of my, new monthly
<br />payment beginning. on the first monthly payment dale after the Change Dale until the amount of my monthly
<br />payment changes again,
<br />
<br />(E) Notice of Changes
<br />
<br />The SOle Holder will deliver or mail to me.a nOlice of any changes in my interest ralea.nd the amounl of my
<br />monthly payment before the effective dale of any change. The notice will include information required by law 10 be
<br />glycnme and also the litle and telephone number of a person who will answer any question I may have regarding Ihe
<br />notice.
<br />
<br />
<br />( F) Borrower's Ri&/tt 10 Lirnil Monthly Payment
<br />
<br />Unless Sections 4( H) and 4( I) below will not permil me to do so, I may choose to limit the amount of my new
<br />monthly payment following aChange Date to Ihe amount I have been paying multiplied by the number 1.075, This
<br />amount .Iscalled the "Limited Payment." If I choose a Limited Payment as my monthly payment, I must give Ihe
<br />Note Holdernot.ice tbal I am doing so at least 15 d"ys before my first new monthly payment is due,
<br />
<br />(G) Additions to. My Unpaid Principal
<br />
<br />If I ChOO!ielO pay the Limited Payment, my monthly payment could be less than ,he amount or the mterest
<br />porttOn of the monthlY payment!!!at would besuffident 10 repay the unpaid principal I owe auhe monthly payment
<br />,date infull.onthe ma~urity date in subSlantially equal payments, If so, each month ,ha, the Limited Payment IS Ie"
<br />t~~n,thC' Intetc_51 ponion. the ,Note Holder will subtra~t.the Limned Payment from (he .amount of the imerc~t ~)nl()n
<br />
<br />\.,
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<br />IiWLTlSTAn AD.iU$TAlIU 1lATl!: IIlPER-~ Y_Tr_tJ \n<M."-$lng!o ''';'',y-'NIolA;.HUIC u......... ..........,
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<br />fOlm 3101 12,-63
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