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<br />ADJUSTABLE RATE RIDER
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<br />(I Year Index-Payment Cap) 84 - 003709
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<br />THIS ADJUSTABLE RATE RIDER is made this .....R...... day of ,.....,Jul.y.........,....,..............., 19 84,.,. .
<br />is incorporated into and shall be deemed to amend and the Mongage, Deed of Trust or Security
<br />(the "Security Instrument") of the same (the "Borrower") 10
<br />Adjuslable Rale Note (the "Note") 10
<br />.................................. ..'.....,....'.........,.,...,...... .. (Ihe "Lender") of Ihe same date and covering
<br />described in the Security Instrument and located at:
<br />
<br />THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES
<br />IN THE INTEREST RATE AND THE MONTHLY PAYMENT. THE
<br />BORROWER MAY LIMIT MONTHLY PAYMENT INCREASES TO
<br />7'1z% EACH YEAR IF THE PROVISIONS OF THE NOTE PERMIT IT.
<br />
<br />
<br />AUDrTlONAL Con:NANTs, In addition to ,he covenants and agreements made in the Security
<br />Borrower and Lender funher covenant and agree as follows:
<br />
<br />A. INTEREST RATE AND MONTHLY PAYMENT CHANGES
<br />
<br />The Note provides for an initial interest rate of . ...llA5 .. %. The Note provides for changes in the
<br />the monthly payments, O,S folJows:
<br />
<br />4. INTEREST RATE AND MONTHLY PAYMENT CHANGES; BORROWER'S RIGHT TO LIMIT
<br />MENT
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<br />(A) Change Dal"s
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<br />The inrerest rare! will pay may change on ,he lim day of, ... ....,..1\ll9:'~,t..............,' 19 ,~,?.......,
<br />[jut day every 12lh monlh Ihereafter. Each dale nn which my interest rale could change is called a
<br />
<br />(8) The Index
<br />
<br />Beginning with the firSI Change Dale, my imereS( rate will be based on an Index, The "Index"
<br />3verage yield on United States Treasury securities adjusted to a constant maturity of I year, as-made
<br />Fed:~rzl Reserve Board. The mOM recent Index flgure avaiiable as of the date 45 days before each
<br />called '1C "'Current Index....
<br />
<br />!f the Index is no longer available, the Note Holder wiil choose a new index which is based upon
<br />information. The Note Holder will give me notice of this dlOice
<br />
<br />(C) Caiculatwn of Changes
<br />
<br />Before tach Change Oa~c. ,he Note Holdef will calculate my new inten::st rate by adding .......Qne~......H.~.~_..
<br />...omd..s.ix..tl'mtiJ.:>., ........ .....,... percentage points ( .....It.!>..,... %) to the Current Index, The Note Holder
<br />wiil thclI round lhe re.ult ofth" addilion to lhe nearest one-eighth of one percentage point (0,125%). This rounded.
<br />amoulli will be my new ime-!\;';.t rate unul the next Change Date.
<br />
<br />The Note HolJer wlH ~h.en determine the amount of the monthly paymem that would be sufficient to repay-:~he
<br />unpaid principal that j 3m eX~"'tecreJ. to OWe at the Change D~lI.e in full on_the maturity date at my new interest rate-~n
<br />substantially equal payments. The resuit ofthlS cakulam," i< cailed lhe "Full Payment,"" will be the new amount of
<br />my munthly payment unless 1 choose t~le amount permItted by Section 4( F) below.
<br />
<br />(D) ElI'ecli,e DOle o( Change.
<br />
<br />My Bc\\- Interest rat~ wilt become eifec!lve on each Change Dale. I will pay the amount of my Ill;;W monthly
<br />paym(fii: begmning on the fir:,t monthly payment date Jftcr the Ch~nge Date until the- amount of my mOJHhly
<br />paymem '.:-h3nges again.
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<br />I..E) Nolice of Ch.nges
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<br />The ;-.JOlt' H.older will delivt.:r of f:lail to me a r:otice of any changes ill my inlerest rate and the amount of my
<br />monthly paymem betor~ the etletuvc date or any (l1n.ngt_ fnt.~ nO!lce wllJ inclu{j-~ i1u{)fmation required 0)" Lw {(j U<:
<br />given me ami ';::'l.j\.l the utle {5ud telephm.e number uf a per~i.;n who WJJl answer any question i may have regarding l.he
<br />n{Jtlce
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<br />~ F) Borrowt:"r's Right to L~mil !\-1onthJy Payme;lt
<br />
<br />Unless. SeCtioi:S. .i-t H) and 41.1) helow wi I! 110t iH:. mil me D (10 \u. I may choose it) limit the amOUI)( 0;- my fl'.:W
<br />mom},!)' payment following a ChaHge D,He tv the amount I have been p.1Jlrlg mull.lplied by the number L075. This
<br />J:nOI_H,t is- cJlIed t~h: "Limited r.ay.:11cnt." U I cht)o~"" >1 Lim;H2'Y Payment ~.s m,y mon:(Jlly payrnent, i must gh'e the
<br />Note Holder noti(:e tbat i ;,un doing so at ieas~ 15 dayi ber,He tny f"irs: nc\oi monthly pAYlllell-t ;.. duc.
<br />
<br />I. G i Addition, 10 My Unpaid I'rindpa!
<br />
<br />If I ,_:hoGs.: !o pay th< Lmliied Pi1)"men~, my Ilh1nthl}' paym\.'nt et.iu!d be k~~ ~!un :he ~,mvnni ('( ihc inkltS{
<br />ponion of tbe mouthly payment Ihat would bl~ siJftkicut to repay ;he unp;"'lJ prin..:;p.,,1 I {"A'l..' j~ ~tw ,nonthly payment
<br />date IIi fuB on the maturity d~ne in subslantially equal payment:, if ~v. (,;leh l,'lun~h th,i~ ~h;.: Ll!,'!<leu P,~yment ;... It_'s-s
<br />than tb-c lntcfeSI r.;;}nio!t, the ~Olc Holder '>..I,'tl.~ ~,Ubll.li,:{ Iht Lun:k'd P<-i) mcrH r[~H"\ !he ;.'imuun [ \,)1' rh~ imcf:.::,t ponj<lt}
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<br />IlUlfi.l:'rATE AOJlurrAbLJ! KaTE RIOER--1 '(Nt TI'.....:.;f)' ~,"O'..-S;II{j,~ hJ.mli't-.-j'~"WiA fHi..Mool'C liiHfu,r/f. \"$-t.,,,_/',Oi'il
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<br />\.' 83
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