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• ~ ADJUSTABLE RA~'E I.OAI'+I RIDER
• `OTICE: TH~ SECURITY INSTRUMEIT SE:CURFS A NUTE WNlCH CONTAI`ti
A PROYISlON ALLOWING FOR CNAVGES IN TN~: INT~ltI~:ST RATE. i`-
CREASFS iN THE IyTE:R~ST RATF. N'ILL RESULT IN HiGHER PAYME:~TS.
UECRFASFS 1N THE I~TER~T RAT~ w~ILL RFSULT IN I.OwF R PAYME::~TS.
This Rider is made this . ~~Ct~ . . day ot' . . ~~~m~~}". . . . . . . . . , 19 81. . . , and is incarporated into and shall
be deemed to amend a~d supplement the I~to~tgage, Decd of Trust. or Decd to Secure Debt (the "Security lnstru-
ment") of the same date Bivcn by :he undersigned the "IiorroH~cr"~ to securc ~orro~~~er's Note to . . . . . . . . . . . . . . . . .
. . F~R$T. .F~p~R~l, . $RV~Nr~. .qyQ. ~.~AN, ASS~GIAT.ION_ OF .MARTIN _C UNTv _ . . . . . . . , , . _ . , . . . .
(the "Lender") of the same date (the "Note") and covering the ropcrt described in the Securit}• tnstrument and
loca~cd ac . . . .1~9. Surfsi de ,Ayenue,. Port. St.. .Luci e, . _ ,33~52 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
P.o~M.n• .add?~•~t
Madific~tions. ln additio~ to the co~•enants and agreements made in the Security Instrument, BorroNer and
C.ender furthec co~~enant and agree as fo1loH~s:
A. 1~1'EKEST ~tATE AND MONTHI.Y PA~'MF:NT CHANG4~:S ~
The Not~ has an "lnitial lnterest Rate" uf 17 .°Io. The Note interest rate may be increased or decreasrd on the
. a~t day of the month beginning on MarCh_ 1, ~983. and on that day of the month ever~
. 1~. . months thereafter. ~
Changes in the interest rate are governtd by changes in an interest rate index called the "Index". The Index is the:
~C'herk ont box to indicate lndex.j ~
(1) ~i• "Contract ~nterest Rate. Purchase of Previously Occupied Homes. National Average for all Major
Types of Lenders" pubtished b~ the Federa! Home Loan Bank Board. .
(2)
~Cherk one box ro indreaie M•he~htr rhere is an?• m¢r~mum limrr on chunges in the in~eresr rate nn each Chunge Date: iJ no box u chrcked ~here M•rit
he no ma~~rmum Jimi( on chan;ts. ]
(1) 1~ There is no malcimum limit on changes in the interest rate at any Charige Date.
(2) ~ The intercst rate cannot be changed by more than percentage points at any Change Date.
if the interest rate changes. the amount of Borrnv?•er's monthly payments will change as provided in the Note. ln-
creases in the interest rate wit{ resuit in higher payments. Decreases in the interest rate will result in fav?~er payments.
B. LOAN CHARGES
li could be that the loan secured by the Security lnstrument is subject to a law which sets maximum loan charges
and that law is interpreted so that the inte~est or other loan charges collected or to be collected in connection with the
loan a~ould exceed permitted limits. If this is the case~ then: (A) any such loan charge shall be reduced by the amount
necessary to reduce the charge to the permitted limit; and (B) any sums already collected from Borrow~er v?hich exceed-
ed permitted limits will be refunded to Borrower. Lender may choose to make this refund by re~ucing the principal !
owed under the Note or hy making a direct payment to Borrower. ~
C. PR10R L{ENS j
lf Lender determines that atf or any part oi the sums secured by this Security lnstrument are subject to a lien I
v?~hich has priority over this Security (nstcument, Lender may send Botrower a noti~e identifying that lien. BorroWer '
shall promptly act with regard to that lien as provided in paragraph 4 of the Security lnstrument or shall promptly~ ~
secure an agreement in a form satisfactory to Lender subordinating that lien to this Security Instrument.
D. TRAtiSFER (~F THE PROPEI~TY I
~ If there is a transfer of the Property subject to paragraph 17 of the Security Instrument. Lender may reyuire (1) '
' an increase in the current Note interest rate, or (2) an increase in (or removal on the limit on the amount of any~ or.e in-
E terese rate change (if there is a limit), or (3) a change in the Base Index figure, or all of these. as a condition of Lender's
wai~~ing the option to accelerate provided in paragraph 17.
` By signing this, Borrower agsees to a{{ of the abo~e.
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