HomeMy WebLinkAbout0968 ' • ' . ~Y
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~ RIDER -
NOTICB: THE SECURtTY 1NSTRUMENT SECURES A N07'E WHICH CONTAINS
A PROVISION ALI.OWING FOR CHANGF•S IN THE INTEREST RATE. IN-
. CREASBS !N THE IN7'EREST RATE WILL RESUI.T'IN HIGHF.R PAYMENTS.
DBCREASFS IiV THB IN7EREST RATE WILL RESUI.T IN LAWBR PAYMENTS.
This Rider is made this . . . . . . . day of . . . . . . . . . . . . . . . . . : 19. ~l . . , and is .incorporated into and shall
be damed to amend and supplement thc Mortgage. Deed of Trust, or Deed Eo Secu~e Debt (the "Socurity Instru-
meat") of the same date given by the undersi~ned (the "Bonower") to secun Bonower's Nwe to . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . F'ust Fe~!~.$}Y!ng~ ~t Loa~! Asaoc;~iation of L~lce Wo;th . . . . . . . . . . . . . . . . . . . .
(the "Lender") of the.same date (the "Note") and covering the property described in the Security Instrument and
located at . . .949A .Souk~ .AIA. .ZJt~1.t.1Q~2. A.. .JeRSeo. as$ct4. .FloX~da. 33457 . . . . . . . . . . . . . . . . . . . . . .
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Modifkstioss. In addition to the covenants and agrcements made in the Security Instrument, Borrower and ~
~ I.ender furtber oovenant and agree as follows: ~
A. INTEREST RATE AND MONTHLY PAYMENT CHANGES '
The Note has an "Initial Iaterest Rate" of ...15.Qa ..~i: The Note interest rnte may be increased or docreased
op each Change Date; as describod in the Note. Changes in the interest rate are governed by changes in the "Contract -
Interest Rate, purchase of Previously Occupied Homes, National Av~rage for all Major Types of Lenders" made
available by tht Federal Home Loan Bank Board (the "Index"). Th~ interest rate cannot be changed to mon than
~i.va percentage points higher or lower than the lnitial Interest Rate. •
If the interat rate changes, the amount of Borrower's monthly payments will change as provided in the Note. In- .
creases in the interat rate will rault in higher payments. Decreases in the interest rate will result in lower payments.
B. LOAN CHARGES
It could be that the loan secured by the Security Instrument is subject to a law whizh sets maximum loan charges
. and that law is interpreted so that the interest or other loan charges ooilected or to be collocted in connectioA witb the
loan would excxed permitted liinits. If this is the case, then: (A) any such loan charge shall be reduoed by the amount ~
nettssary to reduce the charge to ihe permitted limit; and (B) any sums already collected from Bonower which exoeed-
ed permitted limits will be refundod to Borrower. i,ender may choose to make this refund by reducing the principal
owed under the Tlote or by making a direct payment to Bonower: _
C. TRANSFER OF THE PROPERTY _ . ~
If there is a transfer of the Propcity subject to paragraph 17 of the Security Instrument. Lender may require ~
either aa inerease in the cunent Note interest rate or an increase in the Base lndex figure, or both. as a¢ondition of
Lender waiving the option to accelerate provided in paragraph 17. .
- By signing thiS, Bonower agrees to all~of the above. _ '
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, Gunnar A. Aske d~
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