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• rouad Lhe result of this additioa to the neare4t one•eighth of one
perceatage point (0.125x) . This row~a~a a~wunt will be Nry? new rate of
iaterest until t4e next Int~;est C6ange Date. .
(D) Interesi After Default ~
The rate of iaterest required by this Section 2 is Lhe rate I vfll
oWe botA before and after any default described in Seetion 10(B) of the
Note. -
3. CALCULATION OF A!lOUNTS Oi~BD SACH MOIiTS
The Note Holder Will calculate I~11 Pay~ent A~ount snnwlly ss
set forth ia Section S. The !'~11 Pay~ent Aoouat" is the s~ount af the
~onthly paynent that Would be sufficient to rapay the a~wt~at I
originaZly borrowed, or the unpaid priacipal balaace of aq loan as of
every other Interest Change Date, in full at the rate of iaterest I a~
required to pay by Sections 2(A) and 2(C) above in substaatially equsl
payment$ on Ap~il 1, , 20 13, vhich is called the "~aturitq
date." Beginning oa the date of this Note, ry first-Full Payaeat
•A~aouat will be U.S. $ 523.95 ~ until the first Interest Change
Date. Before every other Interest Change Date, the Note Holder vill
calculate the neW Full Payrent Afount Wttich I ~+ill owe each aoath
beginaing on the first eonthly payient date after sucA Interest Chsage
Date.
The Full Paqey~nt Aoount I owe way be aore or less thaa the aaount
Y av required to pay esch ~onth. Sectioa S below states the a~ount of
~ry sonthly payseat and how it vill chaage: Section 6 describes hoi+ ~y .
unpaid principal~ baiance will change if the~ a~ount of ~y aoathly
pay~eat and the Full Payoent A~wunt are different. - - _
4. TII~ AND PLACE OF PAYHBI~TS
I will pay principal aad interest by aating paqoents every soath.
~ !iy eanthly payeeats will be applied to iaterest before~principal. ~
Y will a~ake sy monthly paqments on the first day of ~ach vonth
beginning oa May 1 , 19 83. I wf 11 oake these paqsents -
every oonth until I have paid-all the principal and interest and aay
other charges described belaw that I~ay owe uader this Note. If I
still owe amounts urtder this Note on the saturity date, I will psq
those aoounts in full on that date. Those sebunts could be greater
than the amount of ay last eonthly payoent before the ~aturity date.
I will oake oy monthly paymeats at p_O. g~ 473~~
Flo~ric~ 32231 or at a different place ff required by the
Hote Holder.
5. GRADUATED NONTHLY PAYI~NTS. -
(A) Regular Increase. ?!y first twelve (12) oonthly pay~eats Wi11
_ be in the amount of U.S. $ 523.95 On each anaiversary of the _
date mq first monthly pay~ent is due, I will begin paying a ne~+ ~onthly
payseat which ~ill be equal to the sowunt I have been paying sultiplied
by the nwober 1.075, unless I exercise the "Hoathlq Payseat Freeze
Option" or "Full Pay~eat Option" as described in Section 5(B). I wi12
pay the nev apount of oy soathly paynent until it changes in accordsnce
with this Section 5 or Sectioa 6 or 7 below.
(B) Monthlq Pay~eent Freeze Option. Iastead of having ~y swnthly
pay~eeats inerease during the secoad and third years that ry loaa is
outstandiag, I~ay elect to have ay ~onthly paq~eat frozea for the
second aud/or thfrd qears that the loaa is oatstanding at the oonthlq
paysent asouat due during eac6 respectfve preceding year.
Alternatively, I say elect to have the Note Holder recelculate ry Full
Payseat Aaount as set forth in Section 3, aad I Will then aiake paysents
of the Full Pay~eat " ~
Asount beginaing with the first voat6ly paq~ent due after ~y election.
On the third aad on each subsequent aaaiversary of the data ioy first
~onthly pay~ent is due, until the twenty-ninth anniversary date, I~ay _
(FL) FLEX RIDER
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