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<br /> � . (C)CnlculAtlon of Interest Rate Changes fz'
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<br /> Before each Change Date, Lender will calculate a new interest rate by adding a margin of TWO dtltl -�• _:_
<br /> TP�ree / Quarters percentage point(s)( 2.7500 %)to � `�
<br /> the Cunent Index and rounding the sum to the nearest one-eighth af ane percentage point(0.125%). Subject ____
<br /> ' to the llmits stated in paragraph(D)of this Rider, this rounded amount wi ll be t he new interes t ra te�i a t i l t h e �.,�_��=-�
<br /> next Change Datc. � `"��-_
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<br /> . (D)Ltmits on Interest Rate Changes � ��''�°``
<br /> ' The existing interest rate will never increase or decrease by more than one percentage point (1.0%a)on '�.��`�__
<br /> , any single Change Date. The interest rate will never be more than five percentage poinu (S.0%) higher or ����
<br /> �� lower than the initial interest rate, as stated in Paragraph 2 of the Note. -
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<br /> � (E)Calculation of Puymeat Change �'�"-Y�
<br /> y If the interest rate changes on a Changs Date, Lender will calculate the amount of monthly payment of ��'""'s�� -
<br /> principal and interest which would be necessary to repay the unpaid principal balance in full at tho Maturity
<br /> Date at die new interest rate through substantially equal payments. In making such calculation,Lender wlll use � �.
<br /> the unpaid principal balance which would be owed on the Change Date if ther�had been no default tn payment '"
<br /> on the Note, reduced by the amount oi any prepaymenu ro principai.1J1C IC9UII Vf I�11J Vatculati�n�:il2 be the
<br /> - amount of the new monthly payment of principal and interest. �1
<br /> (�Nottce of Changes '-
<br />=` Lender wtll give notice to Borrower of any change iu the interest rate and monthly payment amount.The
<br /> ;' � notice must be given at least 2S days before the new monthly payment amount is due,and must set forth(i)the -1°
<br />_-�.. date of the nodce, (II) the Change Date, (iii) che old interest rate, (iv) the ne�v interest rate, (v) the new �i-.;
<br /> -x � monthly payment amouut,(vi)the Curreat Index and the date it was published, (vii)the method of calculating .
<br /> �' �, the change in monthly payment amount,and(viii)any other information which may be required by law from E• _
<br />`�;1,.. time ro tune. + �.
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<br /> -=-`'��'�'"s" (G)Eftective Date of Changes --
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<br /> _ _ ,:���t: ' A new interest rate calculated in accordance with pazagraphs (C) and (D) of this Rider will become �. -
<br />��a���_. effective on the Change Date. @onovrer shall mFilce a payment in the new monthly amount beginning on the [;.-
<br />_,�::;�'•��' :', . first payment date which owurs at least 25 days after Lender has given Bonower the notice of changes r'-
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<br /> :._'��;.L�,,�,:; � required Uy pazagraph(F)of tl�is Rider,Bonower shall have no obligation to pay any increase in the monthly =,
<br /> " � gayment amount caleulaced in accordance with pazagraph(E)of tl�is Rider for any paymeat date occur•ing Ycss - -
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<br /> -;j'R-,� ' than 25 days after L.ender has given the required notice. If the montlily payment amuunt calculated in ---- ---�---�---
<br /> ` ��"='�'►'_"'.; � accordance with paragraph(E)of this Rider der.reased, but Lender failed to give timely notice of the decreass _
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<br />-_""•:��:' and Borrower made any monthly payment amounts exceeding the payment amount which should have be�a -•
<br />�Hµ��r,=. stated in a timely notice, then Bonower has the optlon to either(i) demand the retum to Bonower of any �
<br /> �, � excess payment,with interest thereon at the Note rate(a rate equal to the�nterest rate which should have been �:,
<br />'^�r�'"��~ stated in a timely notice), or (ii) request that any excess payment,with interest thereon ut the Note rate. be •'=_�-�-�"�
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<br /> - applied as payment of pr[ncipal. Lender's obiigation to return any excess payment with interest on demand is - --
<br /> not assignable even if the Note is othenvise assigned before the demand for return is made.
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