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Home My WebLink About0926 . ' ~ ~22060386 , ADJUSTABLE RATE LOAN RIDER . NOTICE: THE SECURITY INSTRUMF.NT SECURES A NO'fE WH1CH CONTAINS A PROVISION ALLOWING FOR CHANGFS 1N THE [NTEREST RATE. IN- CREASFS IN THE INTEREST RATE W1LL RFSUG'T 1N HIGHER PAYMEN'TS. DECREASES IN THE INTEREST RATE WILL RESULT 1N LOWER PAYMENTS. This Rider is made this . . ~ ~ t h. day of . . . , Ma rch . . _ . . . . . , , ~ g , $ ~ , , , and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt (the "Security Instru- ment") of the same date given by the undersigned (the "Borrower"1 to secure Borrower's Note to . . . . . . . . . . . . . . . . . CITIZENS _ FEDERAL SAVINGS AND LOAN ASSOCrATION OF ST. LUCIE COUNTY . . (the "Lender") of the same date (the "Note") and covering the property described in the Security Instrumcnt and locatedat ..150 _Surfside. Avenue, Port St: Lucie, Florida 33452 . . Proptsty Address Modif"~cations. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as foltows: A. IN1'EREST RATE AND MONTHLY PAYMENT CHANGFS The Note has an "Initial lnterest Rate" of14..75 The Note interest rate may be increased or decreased on the , lst, day of the month beginning on ......~e~tember 1, , ~9.$3 and on that day of the month every . ~2. . months thereat'ter. Changes in the interest rate are governed by changes in an interest rate index cailed the "Index"_ The Index is the: [Cherk ortt box /o indicore lndex.] (1) D• "Contract Interest Rate, Purchase of Previously Occupied Homes, National Average for all Major Types of Lenders" published by the Federal Home Loan Bank Board. (2) [Check ont box to indicote whelher rhere is any m¢rrmum limi! on changes rrt the interest rate on ea; .h Change Ilote; iJ no box is checked /here wil! b~ no maacimum limir ort changes.] (1) C~ There is no maximum limit on changes in the interest rate at any Charge Date. (2) ~ The interest rate cannot be changed by more than percentage points at any Change Date. If the interest rate changes, the amount of Borrower's monthly payments will change as provided in the Note. In- creases in the interest rate will result in higher payments. Decreases in the interest rate will result in lower payments. B. LOAN CHARGES lt could be that the toan secured by the Security Instrument is subject to a law which sets maximum loan charges ; and that law is interpreted so that the interest or other loan charges collected or to be collected in connection with the ~ loan would 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 BorroH~er which exceed- ed permitted limits will be refunded to Borrower. Lender may choose ta make this refund by reducing the principal j owed under the Note or by making a direct payment to Borrower. C. PR!OR LIENS ~ If Lender determines that all or any part of the sums secured by this Security lnstrument are subject to a lien which has priority over this Security Instrument. Lender may send Borrower a notice identifying that lien. Borrower shall promptly act with regard to that lien as provided in paragraph 4 of the Security Instrument or shall promptly secure an agreement in a form satisfactory to Lender subordinating that lien to this Security Instrument. D. TRANSFER OF THE PROPERTY [f there is a transfer of the Property subject to paragraph 17 of the Security lnstrument, Lender may require (1) an increase in the current Note interest rate, or (2) an increase in (or removal o~ the limit on the amount of any one in- terest 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 waiving the option to accelerate provided in paragraph 17. By signing this, Borrower agrees to all of the above. s 1981-~AR 23 PFi 2 k~ - ~ " ~ . .~s~~> ~ ~KEC thC ««'~rj.' Kenneth P. Rider...... ~ .~i~.?.~3f;E ~t~.~ f . ~ ~ _ -BOflOWtT FC.i7t~.... ' ,~J € flt%GER , ~ r,LEAY,CIRC::~• D ~ / ~ ~.o . h ~ ,~LG t f ' ~ f.. , ~ i ' • ~ ~ . . . . . . . : ~ . ~.~L-1 'f-.~~"4-: . (~e2~) t F.velyn "S. Rider . . . . . . . . -Borrower ~ 5f 0231 ~ ~ morr rhan one hox rs r ~ ~ J chtcktd o iJ no bor u chtcked, und Len~tr anA Aonnwtr eo nnr orhtr»4u qYrtt en »ririnq, !hr jrr~! /nAtY namtd wtl/ opply ~ l~DJUSTABLE RATE LOAN RIDER-s~e~-c?~iMC uk~FORr~ iNSrRUMENr ~ ` a~K 3~3 P~~E ~6 R«.~=~ 8,,,g, ~ ~ ~ ~