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~_~4~ 005595 ADJUSTABLE RATE RIDER 0908701-6 1.11/1 '1 j)r~nt"".-.,.:i ~'l1.tA ;.....rrind Tg 1 ::.nd :~e.h-r.1sk.a (Property Address) 688Ql r 84- 005334 1HIS AD.JffiTABl.E RATE RlJER is made this.....u.h.... day of ~tober . >1984 , and is incorJX>rated into and shall be dea-' to arend and suppl.E!IlEnt the tgage, . Deed of. Trust or SeCud.ty Deed (tIE "Security Instnment") of the sane date given by the unders~(tba "1brt'Cli&")tbseeure' IblTOlil!r~s Adjustable Rate N:lte (the .'N:lte") to To!;V'r i'i>>:ln€,jaJ TniC. (the lAntern) or the salle date and cover:Ingtne. property described in the Se01rity Instrunent and located at: The Note Contains Provisions Allowing For Changes In The Interest Rate And . The. Monthly Payment. The Borrower May Limit Monthly Payment Increases To T1/2%Each> Year If The Provisions Of The Note Permit It. ADDITIONtU. CIJVENANI'S. In addition to tIE covenants and agreeuents made :In Instrunent, Ilo~r and Len:ler further covenant and agree as follCliS: A. INl'~REST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initiAl interest rate of 11 ,500 the interest rate and the llIlnthly payments, as follows: %. The N:lte provides for changes:ln "4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) ~ Dates The interest rate I will pay may change on tIE first day of :i;:; v > 1935 , and on that day ~ 6th llDIlth thereafter. Each date on Well llIY interest rate could cbange-rs-called a "~e Date". (B) The IRiex Begiming with the first ~ Dace, ~ interest rate will be based 00 an Irxlex:. The "Index" is the oeekly ~ aoction rate 00 lliited States Treasury bills with a coostant IIBturity of 6 IIDIlths, as made available by tIE Federal Reserve Board. The most recent Index f:lgure available as of the date 45 days before each Change Date is called tIE "llirrent Index". If the Wex is no longer available, tIE N:lte Holder will clDose a new iniex Well is based up:m canparable infonnation. The !:bte !bIder will give ne notice of this choice. (C) Calculation of ~ Before each ~ Date, the !:bte !bIder will ca1o.1late ~ new interest rate by adding 1 or)n percentage JX>ints ( 3, 'no %) to the Current In:lex. The Note Holder will then round tiE restil.t of this addition to the nearest ooe-eighth of one percentage p::rlnt (0.125%). This I'CIUnied lIIlOOllt will be ~ new interest rate until tIE next Change Date. ik1Wever, the nd< ~e=t mte ~'l:l never exc-2d 1 ~. 50iJ;;~ or c..~lt"(:~ ;-.~i)r~ than 1. 5 "Jr)':~ on J.llY Challbe Jute. ~ ,n0" Beginning on :l"C",l,,,,,r , 19 .If , and 00 each .)th ~ Date ~ter, the Note !blder will detenn1ne the aoowt at the monthly pa)'la!1lt tIlat ww.I.d be sufficient to repay tIE mpaid principal that I an expected to O\oe at the ~ Date in full <Xl the IlBturity date at the "P8)'Illellt Rate" in Slbstantially equal pa.)IilleIll:s. This 0Iange Date is also called a Pa}'llEIlt 0Iange D3.te. The Pa)'llB1t Rate is tIE sun of tre Wex f:lgtres on the 5 Ch!u@e Dates preceding the Pa}'llEIlt 0Iange Dace plus tIE <4rrent Index, divided by" plus 3 ,OOJ percentage points (3 ,ci0:. %), roweled to tIE nearest one-eighth of one percentage point (O.lD;>). HoweYer, the Pa)lllent Rate'WiII. never exceed tIE maxinun rate stated above. The result of this ca1OJ1.ation is called the "Full Pa)'llB1t". It will be tIE new aJDUlt of my IIDllthly pa)'lllelJ.t Ulless I clxlose. the amu:It: permitted by Section 5 belcw or lIlless Section 6(B) requires a higher pa)'la!1lt. (D) Effective Date of ~es ~ nEW interest rate will becane effective on each ~e D3.te. I will pay tIE lIIlOOllt of my nEW 1'Q)Othly I-ll~t begiroi.'1g on the first nnt'..trJ..y payment date after eacJl Pa.}UEi'it Cha~ Date li'"ltil the anount of my monthly j:Ii}'llEIlt changes again. 5. BORROWER'S RIGHT TO LIMIT HONTHLY PAYHENT; REQUIRED FULL PAYMENT (A) Calo.1lation of Graduated Limited Pa)'ll1ent I may clxlose to limit tIE aIOtnt of my new IIDllthly (B)'IlEllt following a ~ Date if my new interest rate ~d calSe tIE monthly (B}'llEIIt I have bee1 payi~ to increase by more than seven and one-half pm:a:lt (7.5%). If I ctnose to limit tIE anDUlt of my l1l)I1thly pa)'llle!lt, I lIlISt give tIE Note !bIder notice tlBt I am doiJ:ll so at least IS days before my first new monthly pa}'llEIlt is due. When I do so, 00 tIE first llIlnthly (B)'Ille!lt date after tho! Pa)'llEllt Olat~e Date I will begin j:liyi~ a new monthly payment which will be eqwl to the a:DOlIlt I have been paying each moth for the p~ twelve IIDllths Ill.Iltiplied by tho! nlllKJer 1.075. Thereafter, on each anniversary of my new l1l)I1thly payment effective date, until the ne><t Pa}'llEIlt Change Dace, my IOO!1thly payJ1EIlt wi.Jl agai..'1 increase to an aDOUlt equal to tre ammt I have bee1 (Byi~ each IIDl1th for tIE l'C~ tl>lelve m:nths nl.lltiplied by the runber L075. 1hese a:na:nts ~-e called the "Gradua.ted. Limited. Payments". Even if I have dosen to limit my arnthly pa)'llEllt, Section S(B), 5(C) or 5(D) below lIBY require me to \BY a different aalUOt. L (B) Redteed /obathly Pa)'llle!lt A Graiuated Limited Paymant ('.oo1d be greater than tho! aoount of a. llI)nthly (B)Ulel\t which tlEn 'o<<luld be sufficient to repay my wpaid principal in full en the maturity date at tIE Pa)'llellt Rate CCIIlputed 00 tIE last Pa)'lllent Change Date in substantially equal payments, If so, on tIE date my pay1tl!. a Graduated L:lmited Pa)'llEllt w>uld cause Ill! to (BY lIDre than tIE 10..er ,'llVwt, lilY lrollthly ps)'IlIent will rot increase to an aooo.nt any greater than soch .u:-r aooo.nt. TMC-087 (qc) New 7/84 Plans 2-A or 2-B