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RIDER
NOTICF: TiIE SECURITY INSTRUMENT SF:CURt:.S A NOTF: Wt11CN ('ONT ~INS
A PROVISI()N ALI.OWING MOR CHANGFS IN TNE INTF:RH:ST RATE. IN-
CRFASFti IN THE INTERE.ST RATF W11.1. RFSULT !N HI(s1~F.R PAYMh:NTS.
DFCREASI~~S IN THF INTF.RF.ST RATF VVI[.1. RFSULT !N LOWER PAYMF:NTti.
.
This Rider is madc this .~.~~ .. day of ..1~ ~C~ .~. .... 19. 81. ., and is in~or~ratcd into and shall
be deemed to amend and supplement the Mortgage. ~eed ot 1 rust. or l)ced to Secure Ucbt lthe "5ecunty Instru-
ment") of the same date give~ by the undersigned (the "Borrower"1 to secure Borrower's Note to . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . First Federal Savings.& Loan Association of_Lake_Worth_ _ . . . . . . . . . . . . . . . . . .
(the "Lender") of the same date (the "Note") and ravering the property described in thr tierunty Instrument and
la~ated at . .9400 .South. St.~te_ Road. AlA,_ Jensen .Beach,_ F1Qrida. 33457 . . . . . . . . . . . . . . . . . . . . . . . . .
Pru~x~rlc .4dJ~e~~
Modifications. In addition tu the co4enants anJ agreements made in the Se~urity In,trument, Borrower and
Lender further covenant and agree as follows:
A. INTFRE,ST RATE AND MONTHLY PAYMENT CNANGFS
The Note has an `•Initial Interest Rate" of ..~.4• 75. ..°%o. The Note interest rate may be inrreased 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 nccupied Nomes, National Average for all titajor T~pes of Lenders" made
available by the Federal Nome Loan Bank Board (the "Index"1. The intere~t rate cannat be changed to more lhan
~i~te . percentage points higher or lower than the Initial Interest Rate.
If tne interest rate changes, the amount of Borrov-~er's monthly payments will change as pro~•ided in the Note. In-
creases in the interest rate will result in higher payments. Decreases in the interest rare wiU result in lower payments.
B. LOAN CHARGE:S
It could be that the loan secured by the Seeurity Instrument is subjec:t to a law which sets maximum loan charges
and that law~ is interpreted so that the interest or other loan charge~ collected or to be collected in connection w~ith the
loan v-~ould excee~ permitted limits. 1` this is the case, then: (A) any such loan charge shall be reduced by the amount
necessary• to reduce the chasge ro the permitted limit; and (B) any sums already collected from Borrow~er w•hich exceed-
ed permitted limits will be refunded to Borrow•e~. Lender may choose to make this refund by reducing the principa!
owed under the Note or by making a direct payntent to Borrower.
C. TRANSFFR OF THE PROPF.RTY
If there is a transfer of the Yroperty subject to paragraph 17 of the Security Instrument, Lender may~ require
either an increase in the rurrent Note interest rate or an increase in the Base Index figure, or both, as a rondition of
Lender wai~~ing the option to accelerate provided in paragraph 17.
By signing this, i3orroHer agrees to all of the abo~e.
~ I ~ ~" _
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c ; ~~_' ~~~~-~~ , . ~'~"~` . . _ (Seal)
Willard J. r~np~as ~ _g~rr~wer
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'~J~~'~':L. ~ . . . . . . . .L . . . .? . ~r~~ - • - - • (Seal)
Grace J. ~rkenpas ~ --Horrower
1981 Mn~ 30 ~h ~1= ~7
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ADJUSTABIE RATE LQAN RIDER-i to a cRM~ir_;0H0-FHLMC UNIiOHM INSTRUMENT RRM L#218799
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