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RIDER
NOTICE: TNE SEClIR1TY INSTRUMF.NT ~EC'URFS A NO"rF: VVHICH C'ONTAiNS
A PROVISION ALI.OWING FOR CHANGFS IN Tf~F INTERF~T RATE. IN-
. CRl:ASF.S IN THE INTEREST RATF WILL R~UI.T IN HIGNER PAYMEN?5.
DECRFASF.S IN TNF. 1NTERFST RATF WII.L REtiUI.T IN t.0~1':HR PAYMEnTS.
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~ ;i~his Rider is made this .~~~day of ., . ~ . . . . . . . . . .a . . .. 19$1. . .. and is incorporated into and shall
be deemed to amend and supplement the Mortgage. Deed of Trust, or Ueed to Secure Dcbt (th~ "Security Instru-
ment") of the samc date g~~•cn by the undcrsigned (the "Borrower"1 to secure t3orr'awer's Notc to . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . First Federal Savings & Loan Association of.L,ake.Worth_ . . . . . . . . . . _ . . . . . .
(the "Lender") o( thc same date (the "Notc") and covering the properly dcscribed in the Security Instrument and
located at . 5155. State _Road .AlA~ _ F~rt _ Pierce.,. .Florida_ ,33450 ~
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Pro{x~rr-~ AdJrets
Modi(ications. In addition to the covenants and agreements made in thr Security ins-rument. Borrower and
Lender further covenant and agree as follows:
A. INTFRFST RATF ANI) h10NTH1.Y PAYMENT CHANGF:S
The Note has an "Initial Interest Rate" of ...~4 :?~ ..°o. The Note interest raie may be increased or decreased
on each Change Date. as described in the Note. Changes in the interest rate are governed by changes in the "Contract
Interest Rate. Purchase of Previously Occupied Homes, National Average for all :~tajor Ty~s of Lenders" made
available by the Federal Home Loan Bank Board (the "Index"). The interest rete rannot bc rhanged to more than
~~~~ . perrentagr points higher or lower than the lnicial Interest Rate.
If the interest rale changes, the amount of Borrower's monthly payments will change as provided in the Note. In-
creases in the interest rate w~ill result in higher payments. Decreases in the interest rate will result in lower payments.
B. LOAN CHARGFS
It could be that the loan secured by the Security Instrument is subject to a lav-• H•hich sets maximum loan charges
and tha[ law is interpreted so that the interest or other loan charges collected or to he collected in connection with the
loan would exceed permitted limits. If this is the case, then: (A) any such loan charge shall be reduced b~~ the amount
necessary to reduce the charge to the permitted timit; and (B) any sums already collected from Borrow~er which exceed-
ed permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal
owed un~er the Note or by making a direct payment to Borrawer.
C. TRANSFF R OF THF PROPF.RTY
If there is a transfer of the Property subjcct ta paragraph 17 of the Security Instrument, Lender may~ require
either an increase in the current Note interest rate or an increase in the E3ase Inde?c figu:e, or both. as a condition of
Lender w-aiving the option to accelerate provided in paragraph 17.
By signing this, Borrower agrees to all of thc abo~~e. • _
- ~~ - - - • - - ~ ~ . .~?'~. . . . . (Seal)
Al leyne` l~eY ''/~~ eorrower
.......................~~---~............._~Seal)
- 8dtrowcr
AOJUSTABLE RATE LOAN RIDER-~ to a FaMi~r-tos~-FH~MC uhIfORM INST9UMENT r~w~t L#215108
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