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PSL-2-1S71~ ~
• GRADUATED PAYMENT RIDER
~ ' (With Interest~ Ratc Changes Evcry S:Years)
TH1S (iRADUATED PAYMENT R1DER u made this y......... day of ..~Y~~
19....83, and is incorporatod iato and ahaU be damed to amend and suppldnent the Mortgsge. Dad of Trust~ or pood to
Socure Dd~t (the "Security Inatrument") of tbe aame date 'ven by the undersigned (the "Barrower") to secure 8orrower's ,
(indwtod Payment Note to ..........rr~T...$~~1G~..~~KAI~
(the "I.ender") of the same date (the "Note") and covering the
pmperty describod in the Security Instrument and locstod at:
.....:.................51,~.. GaX~Ga~x..ll,v~mv~~,?..Rax~..&z.....I~u,~~~.....F.xn~~sl~a....~~45~...................................................
(Propertp Add~ess)
Th~ Nott contoi~s provisions allowin~ fo~ chon~~s in th~ inf~r~s~ ~ot~ a~d monthlr
PdYm~ets.
Th~ dorrow~~•s n~onthir ppYm•~~ will i~u.as~ by 7~96 ~ach y~a? du~i~~ th~ Ant Av~ .
y.on of th. Not•. Th~ do~ow~ alw ~nay b~ abl~ to IimH nw~thly payn~~nt incnas~s
to 7~96 weh y~~ duein~ th~ s~eond Av~ r~an of th~ Not~. Th~ nmainin~ monthly
paym~nts also could inc~as~ or d~enasf, d~p~ndin~ o~ chae~~s in th~ inf~r~st rah.
Tht p~incipai an~ount th~ dorrowe~ must ~poy will b~ la~~ than th~ omount o~iginolly
bonow~d, buf not nan than 1 Z.S% o~th~ o~iyinal omount. ~
ADDI'iIONAf. COVENANIS. In addition to the oovrnants and agroements made in the Security lnstrument,
Borrower and i.ender further ouvenant and agroe as tollows: .
A. INTEREST RATE AND MONTHLY PAYMENT CHANGES
The Note pmvides for an Initial Rate of Interest of ..1.2a~7.~.......9~0. Scctions 2 through 9 of the Note provide Wr changes
in the interest rate and the monthfy payments, as follows:
~2. I1V1'ER~'S'I'
U) Ioterest Owed
Interest will be chargod on that part of principal which has not boe~ paid. Interest will be chargod beginning on the
date of this Note and continuing until the full amount of principal has boen paid.
Beginning on the date of this Note.1 wiil owe interest at a yearly rate of .12.$IS 9'0• Th~s rate is callod the "Initial
Rate of Interest. The rate of interest i will p~y wilt change in accordanct with Soction 4(A) of this Note on the first day of
Apr~l„ 1,,,,,,,,,,,,,,,,,,, ~988.... and on that day every 60th month thereaRer. Each date on which my rate of _
interest could change is called an "Interest G'hange Date."
(B) 'itie Iode: - .
Any changes in my rate of interest will be based on changes in the Indea. The "Index" is the weekly average yield on
Unitod States Treasury socurities adjustod to a constant maturity of S ye~rs. as made available by the Foderal Reserve
Board. The most recently available Indea figure as of the date 4S days before each Interest Change Date is called the
~ "Current Index." ~
i If the Indea is no longer available, the Note Holder witf ehoose a new index which is based upon comparabld
~ information. The Note Holder witl give me notice af this choice.
(G~ Lterest Aftar Detanlt
i The rate of interest required by this Section 2 and Section 4(A) below is ihe rate I will pay both before and after any
` default described in Soction 12 (B) bebw.
3. TIME AND PLACE OF PAYMENTS
I will pay principal and interest by making payments every month. My monthly payments wiU be applied to interest
before prineipal. ' .
I will make my monthlY paYments on the firat day of each month beginning or~ ~~!..1 19..83
1 wiU make these payments every month urltil 1 have paid all the principal and interest and any other charges describod
below that I may owe under this Note. If. on ...A,pril„ 1,,,,,,,,,,,,,,,,,,,,,,,,,,,,~ 2d3......~ I still owe amounts under this Note, I
will pay those amounts in full on tbat date, which is called the "maturity date."
I will make my monthlY P~Yments at ...319..St....E~iz~abeth..SeXX~~,..~~Q....RAalC..289,..Of~I~A~&hf?xRa........
..............Kentuck.y:....k.2302................................................................................................................................................
or at a different plaoe if roquired by the Note Holder.
4. FULL PAYMENT AMOUNT
~ (A) Cakulsdon ot Fnll Paymeat Amount
~ Each of my Brst 120 monthly payments could be less than a Full Payment Amount. A"Full Payment Amount" is
- the monthly amount suf6cirnt to rep~y the amount I originally borrowod, or the unpaid principal balance of my loan as of
~ an Interest Change Date, in full on the maturity date at the rate of interest I am roquirod to pay by Soction 2 above or this
Soction 4(A) in substantially oqua! payments. 8eginning on the date of this Note, my first Full Payment Amount will be
~ U.3. 5.....476. 95 until the first Interest Change Date. My first Full Payment Amount could b4largu
~ than esch of my first 60 monthly payments.
Bd'ore each Interest Change Date, the Note Holder will determine a nev~~~yment Amount for my loan. T!u
Note Holder will 6rst c~kulate my new rate of intaest by adding t~a..A~0.d... percentage points (....2~29.....9'0) to t6e
Canent Index. The Note Holder will then round the result of this addition to the nearat one-eighth of one percentage
point (0.1259'0). This roundod amount will be my now rate of interest until the neat Interest Change Date. The Note
Holder will then calculate the new amount ot a monthly ~yment that would be sufticirnt j~~~y my unpaid principal
~ 6001 ~c~ PAGE ~
~ GRADUAT~ ~AYMHiT RIDER - Man b GrARM-s~. Fa~-si82-FNMA IJn~o~.~ hnhv..n~
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