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<br /> (C�Calcailatlon of Imterest Itate Changes ' . ... . �
<br /> Before each Change Date, Lender will calculate a new interest rate by adding a margin of TWO and • ` ,x°`.•.��"`"
<br /> Three Quarters percentage pointfs)( 2.7500 �)co . � � � .� : ��
<br /> the Curr nt Index and munding the sum to the nearest one-eighth of one percentage point(0.125%). Subject � _ -�.��..:•�
<br /> to the limits stated in paragraph(D)of this Rider,this rounded aznount will be the new interest rate until the . � ����`�`
<br /> �-,�.;.,...•
<br /> next Change Date. • � � r�.�.�
<br /> ,v,;•.
<br /> N)LlmIts oa Interest Rate Changes � .�� _ �
<br /> The e�sting interest rate a+ill never increase or decrease by more than one perceutage point(1 A%)on ` -`
<br /> any single Change Date.The interest rate will never be more than five percentage poinu (5.0%)higher or '` �-��•'�`�;n�
<br /> .s lower than the initial interest sate,as stated in Paragraph 2 of the Note. � �°,��t:
<br /> � . . ,..
<br /> (�Calct�iation of Payment Chaage
<br /> ; If the inter�t rate changes on a Change Daze, L�ender will calculate the amount of monthly payment of �'
<br /> principal and interest which would be necessary to repay the uapaid principal balance in fuU at the Manuity � � �' �
<br /> �.�'A...
<br /> ..4�� � ��.:._.-_..-
<br /> Date at the new interest rate through substantially equal payments. In making sach calculation,Lender wiU use ' ' • ;� f'�
<br /> the unpaid principal balance wbich would be owed on the Change Date if there had been no default in payinent �L��� �� �' ���Vr
<br /> on the Note,reduced by the amount of any prepaymenu to principal.The result of this calcula[ion wil16e[he :�.. .�;;:.�.���''� �
<br /> amonat of the n�w montbly payment of principal and interest. �� �-.�'- ; '
<br /> .•_�. . ;'i :r.'-
<br />. (�Natice of Changes '-;r�.... . •
<br /> i.ender will give nodce to Borrower of any change in the interest Fa[e and montWy payment amount.The � ���� �,
<br /> nouce must be given at least 25 days before the new monthly payinent amount is due,aod must set forth(i)the • - ,��;- -
<br /> date of the notice, (ii)the Change Date, (iu) the old interest rate, (iv)the new interest rate, (v) the new ��.�� � �� �
<br /> ._
<br /> montWy payment amount, (vi)the Current Index and the date it was published,(vii)the method of calculating '�• � `'
<br /> the change in monthly payment amount,and(viii)any other iaformation wlrich may be ieyuire�l by law from . __ - -
<br /> dme[o time.
<br /> . .� :�,��
<br /> (G)EfPec�ive I?ate of Changes -`"
<br /> A new interest rate calcul�ted in accordance with paragraphs(G�and (D)of ttus Rider wiA berome .��� � �.T�;
<br /> -�;.-,�
<br /> effeaive on the C6ange Date. Borrower shall make a payment in the new monthly amount beginning on the �"-`_-� ;�
<br /> ] , first payment date which occurs at least 25 days aftes Lender has given Borrower the notice of changes �= . -•: .�.
<br /> required by paragraph(F�of this Rider.Boaower sha116ave no obligation to pay any increase in the monthly ?--
<br /> payment amount calculated in accordance with paragraph(E)of this Rider for any payment date occuaing less �� ' 'i y �
<br /> than 25 days after Lender has given the required notice. If the monthly payment amount calculated in � . . ''�`'
<br /> accordance with paragraph (E)of this Rider decreased,but Lender failed to give timely notice of the decrease � *.+'��� -�
<br /> and Boaower made an montlil a ment amounts exceedin the a ment amount wluch should have beea � '" {�
<br /> Y YPY g PY . �v�{�
<br /> stated in a timely notice, then Bonower has the option to either (i)demand the remrn to Bonower of any ,�Y�`:+�-*��
<br /> excess payment,with interest thereon at the Noie rate(a rate equal to the interest rate which should have been • . .: '' . �
<br /> ;�.:i:7��;�,�;SC,_: ::-.
<br /> stated in a timely notice), or(ii)reyuess Wat any excess payment, with intenest thereon at the Note rate. be - •,•, -,w��
<br /> applied as payment of pcincip2l. Lender's obligation to return any excess payment withs inter8st on demand is � ._:.,_..::
<br /> not assignable even if the Note is otherwise assigne@,before the demand fot return is made. ' , -.='� ,-";��.
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