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' (~lith Interest Rate Changes Bv~ery 6!lo~tt~s)
T8I3 NOTB (pNTAINB Pt~VI3I~l3 AT~ P~R ~IAN(BS IN !!Y INtBtiffiT RATB Ai~ M~,Y
PAYl~NPB. S
THI3 NOTB AL~O PRdVID88 P~OR CAI~'.ULi~I'IQ~13 OF ~FA' 88PARATS ~Y PAY!l~1T AI~~Tl'S.
ONB WILL BB THS AlIO~Jt~TP I!~}ST ACTUALLY PAY SA~CH l~1T8. THB OTHBR IiILL ~ AN
AI~qUNT ~1AT I`Ut1LD PriY BA~CH l~qN'1'H ~0 FULLY li~AY ~B IQMI Q~l ~B !l11URITY DAT6.
T8B PRINCIPAL AMO~)t~lT I!ltlST RBPAY ~ILL 8g LAR~GBR THAi~i THB AlqI~1T I ORIGINAL~LY
HO~iOW~. ~ NO?P M~RS ~AN 125$ OF ~B atIGI~AL. AN~pt~.
. ~ c~,~.. _ Frr~ma
- . tY ~S'tAtg)
IMarch . 7 , ~ g 83
~ ~ . (Date)
~ersrn Avenue, Routte 8, Bax 930A, Ap~ta. E& F, Fbct Pieme, Floarida 33450
(PropertY Address) _
1. 8Q21~WBR' S Pli~IISB TO PAY - ,
In return for a loan that I have received, I promise t~ p~cy 0. S. $
50~•00
plus any aa~ounts added in accardanoe with Section 6(A) of thia Note (the
total araount is caelled "p`rincipal"), plus intereet, bo the o~+der of the Lender.
The Lender is . I understand that the
Lender may transfer_th s Note. T Le er or anyone who takes this Note by
transfer ~ arxl wtw is entitled to revefve paymenta under this No~be is callea tt~e
~NO~ ~ 801~r~ •
2. II11'~Sl'
(A) Interest Owed , .
Interest will be charged.on that part of pcinefpal whfcfi has not been
paid. Interest will be charged beginning on the dabe of~this Note and
'i aontinuir~g until the full arount of pcincipal l~as been paid. ~
i
Beginning on the date of thia Note, I will owe inte~+est at a yearly rate
E of j,~,~$. The rate of intereat I will -a~te will d~anqe a~ the first day
~ of , 1~, and on that day every 6th month thereafter.
~ Each ate an my rate of interest aould change is wlled an "Interest
Change Date". !!y new rate of interest will become effectiv~e on each
Interest Charx~~ Date.
~ (B) The Index
~ Any changes in my rate of interest will be based an cfianges in the Index. I'',
The "Index" is the average weekly auctian rate on Onited States Treasutiy ,
bills with a maturity of 6 nanths, as made available by the Federal - ,
Reserve Board. Tt~e most reoently available Ind~c figure as of the date 45
days before _each Interest Change Date is s:alled tbe "Current Index". As
~ of the date hereof, the Curnent- Inde~t is 7.948~. ~ ~ - -
If ~the Index is no longer available, the Note 8older will c~fioo~e a new
fndex which is based upon canparable inforniation. The Note Holder will '
~ give me rotfoe of this cl~ofoe. - _ -
~ (C) Calcvlation of Interest Rate Changes
~ " ~ . .
~ Before each Interest Change Date, the Note 8older will calculate ny new ~
~ rate of interest by adding ~4 ~perc~entage points (_4_~2 b~ the
~ Current Index. The Note Holder w~l~then rau~d the result of th~ addition
to the nearest one-eighth of a~e peroentage point (4.125~). This rounded
~ amount vill be my new rate of interest until the next Interest Chanqe
Date.
(FL) NO~lE - FL@CIBLE M~iT~GAGB LQAN PROGRAM 9/82
~ 1016 Revised 12/82 .
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