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• ~ • ~ . itIDER '
NOTICE: THE SECUltiTY INSTRUMENT SECURES A NOTB WHICH CONTAINS _
_ A PROYISION AI.IAWING ROR CHANGES 1N THE 1NTEREST RA'I'E. IN-
CREASFS IN THE INTEREST RATE WILL RESUI.T 1N HICHER PAYMBNTS. ~
DF:CREASES 1N THE IN'IF.ItF.~T RATE VYILL RESULT 1N LO~YER PAYMFNTS.
This Rida is made this . . 3. day of . . . . . . . . . . . . 19 s~. . . ; and is incorporatrd into and shall
be damed to amend and supplement the Mortgage, Dced of Trust, or Dad to Secure Debt (the "Security Instru- ~ ~
me~t") of the same date given by the undersi$ned (the "Borrower"1 to securc Bonower's Note to . . . . . . . . . . . . . . . . . •
' . . . . . . . . . . . . . . . . . . . . . . . . . First Fec~eelral.S+!!?ing~ 6t Loaa Aaaoauioa of Lpke Wo;t6 . . . . . . . . . . . . . . . . . . . .
(the•"Lender") of the same date (the `•Note") and covering the property described in the Security Instrument and .
locaced ac . . . . 9490. ~u~h .S~~t~e . Ro~. ~..-~~~~.~?~~s~ .~~.~h. . ~~,Qx~~~ .3~~s57 . . . . . . . . . . . . . . . .
• A?~vpe.+r wddnss . -
Moditkatloos. ln addition to the covenants and agraments made in the Security Instrument, Borcower and •
Lender further covenaat and agrce as follows:
A. IMERES'T RATE AND MONTHLY PAYMENT CHANGES ~ -
The Note has an "Initial Iaterat Rate" of 15.a0. y~. ~e Note intercst rate may tie increased or decreascd
on each Change Date. as describod ia the Note. Changes in the int4rest rate are governed by changes in the •`Contract
Interest Rate, Purchase of Previously Occupied Homes, National Average for all Major Types of Ltnders" made
afvi~able by the Federal Home Loan Bank 8oard (the "Index"). The interat rate cannot be changod to more than -
. percentage points higher or. lower than the Initial Interest Rate.
If the iaterest rate changes, the amount of Bonower's monthly payments will change as providod in the Note: In•~
creases in the interat rate will resntt in higher payments. Decreasac in the interest rate wiil result in lower payments.
B. LOAN CHARGES
lt could be that the loan secured by the Security Instrument is subject to a law which sets maximum loan charges
and that law is iaterpreted so that the interat or other loan charges oollected or to be collected in connection with the _
loan would exoeod permitted limits. If.this is the case, then: (A) anysuch loan charge shaU be reduced by the amouat
necessary to reduce the charge to the permitted limit; and (B) any sums already oollected from Borcower which exoad-
ed permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal ~
owed under the Note or by making a direct payment to Borrower. -
C. TRANSFER OF THE PROPERTY -
If there is a transfer of the Property subject to paragraph 17 of the Security Instrument, Lender may roquire
either an increase in the cunent Note interest rate or an increase in the Base Index figure, or both, as a condition of
Lende~ waiving the option to accelerate provided in paragraph 17. ~
By signing this, Borrower agrees to ail of the above. ~
~ • . ~F~-~ . . . . . . . . . . . . . . . . . . . . . (Stal) -
ames Senn o ~ -~o~ ~
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~ Gendra~Sennello
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~ . . . . . . . . . (Seal) -
. Otto J. rch _
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i j F; Betty l~Iae Karch
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ADJUSTABIE RATE LOAN RIDER-~ To ~ F~r-~o~o-~c u~coRM wsT~r RRM L#226396
! ~ BOO~II VaJI) PA~E a~,~ .
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