The URL can be used to link to this page

Home My WebLink About0993 . (D) ~ I~terest After Detault . The rate of interest required by this Sectio~ 2 is the rate t will owe both beto~r+e aM afte~r arYy default described in Section 10(B) below. 3. C~?UOUtATION OEr AMD[~Tl'8 OFED 8A~ l~m~ ~ The Note Holder will calculate my Full Payment Amount aruwally as set forth _ in Section 5. The "Full Payment Amount" is the aiaount oE the monthly p~nt that would be sufficient to repay the a~qount I originally borroMed, or the ~ unpaid principal bailance of my loan as of evesy other Interest Change Date, in full at the rate of interest I am required to pny by Sections 2(1?) and 2(C) above in substantially equal.p~yments on il 1 , 20 1~ Which is cdlled the "maturity date". Beginning on the ate o s Note, ~y first ~ Full Payment Amount will be U. S. S ~23.~95 _ until the first Ieteret Change Date. eefore every other Interest Chrrge .fate, tbe Note Holder ~rill calculate the new Full Payment Aaaunt rrhich I will owe each month begfnning on the first monthly payioent date after such Interest Cha~nge Date. The Full Pa~mient Airo~mt I owe, may be more ar less th~ the amant I am required to pay each month. . Section 5 belaw states the amamt af ny monthly pa~nent ar~d haw it will change. Section 6 describes l~aw my ur~id principal bnlanae will . " change if the amourtt of my monthly payment and the Full Payment Amamt are different. ~ ' ~ ~ 4. TIlB ArID PL~E OF PAYl~@T15 I will gay principal and interest by making pacyment every month. My nnnthly ~a~yments will_ be applied to interest before principnl. . Z will make my monthiy payments on the first day of each mQnth beginnfng on ~ 198~„_3,. I will niake the~e payments ev~eYy month until I have paid all the principal and intereat and any other charges described belaw that I may awe ~ax3er this t~bte. If i still owe a~ao~ts under this Note on the maturity date, I will pay those amounts in full on that date. Ttase anamts oould be greater than the anbunt of my last nqnthly payment before the maturi~y date. ~ ; I will taake my monthly payments at P.O. Hooc 4130, Jackaonville. FL 32231 E ar at a different plaae if required by the Note Holder. - E ~ 5. (~i~1DUATED I~1TFII,Y PAYI~FNIS (A) Regular Increase lve 12 monthl nts vill be in the amount of U. S. ~ My first twe ( ) y pay~ae . $ 523.95 On each anniversary of the date my first monthly payment ~ ~ is due, I will begin paying~a r~ew monthly payment which will be egual to ~ , the amount I have tieen paying multiplied by the rwmber 1.075, unless I - exercise the "Monthly Payment Freeze Option" o~ "Full Payment Option" as ~ described in Section 5(B). I will pay the ~new amount of niy monthly ~ payment until it changes in acvorda?~e with this Section 5 ar Section ar ( 7 below. i ~ (B) Monthly Payment Freeze Option ~ . - I~nstead of havfng my nenthly payments increase during the second and thira years that my loan is outstandirg, I may elect t~ have my monthly payment frozen for the secona and/br thfrd years that the loan is out ~ standing at the monthly pacym~nt annur~t due durfng eact~ respectfve pre~eding year._ Alternatively, I may elect tio have the Note Holder recalculate my Full Payment.Amount as set forth in Section 3, and I will then make payments of the Ful1 Payment Amount beginning with the first monthly . ~ payment due after my election. On~the third and on each subsequent ~ anniversary of the date ny first m~nthly paym~nt is due, until the twenty~. ~ ninth anniversary date, I may a~ly cl~ to have ny payment adjusted in- ~ acc~ordance with Section 5(A) or make the P~11 Payment Annunt. The Note , Holder will notify me as provided fn Section 6 below, thicty (30) to ' forty-ffve (45) days prior to each of the annfversaries of the date ny k f irst nanthly payment is due ~ ar~d wi11 f nfonn me that I have the options ~ set forth in this Sectfon 5, subjects hawever, tA the limitations imposed by Section 6(I). I must notify the Note Holder of my electian priar t~o the time that the first m~nthly payment is due after the respective anniversary date. I f I do not choose fram the aptions .I have wxler this ~ . ~ F ( FL) FIEX • nxnL , o, 6 paaA ,~f ~ ~c ~5 PssE e7~ ~ ' ~ _ - _ - - - ~