The URL can be used to link to this page

Home My WebLink About0991 i ~ • . • •1'• ' . ~ . ~ r'L/ ` V oaly choose to have my pay~eat adjusted i0~~ prdaSCe.N~ Section S(A) ~ or make the Full Paymeat Awount. The Ns~~~i[older aotify ve as provided ia Section 6 below, thirty (30) to forty-five (45) days prior to each of the anaiversaries of t6e date n~y first ownthlq pay~ent is due aad will infore mc thst I have the optioas set forth in this Section 5, subject; however, to the limitatioas ioposed by Sectioo 6(I). I aust notify the Note Holder of sy election prior to the tfae that the first ~onthly payment ia due after the respective anaiversary date. If I do not choose froe the optioas I have under this Section 5(B) prior to ~r first tWO anniversary dates, I will 4ake the psy~eaLs provided for ia S(A). If I do aot choose.either ttie pay~ent adjuat~ent provided for ia 5(A) or the Full Payoeat Aeiount prior to the third and each subsequeat anaiversary date uatil the tWenty-niath anaiversary date, I will sake payseats of the Full Paq~ent Asount. 6. CBANGES IN !!Y UNPAID PRINCIPAL BALANCB (A) Additions to I!y Uapaid Priacipal-Balaace Each of ay monthly payoeats could be less thaa ttie amount of the iaterest portion of a monthly psyseat which thea would be sufficieat to repay o~y unpaid priacipal balaace ia full oa the aaturity date at oy curreat rate of interest ia substantially equal payaeats. If so, each oonth that the avount of my oonthly paysent is less thaa the interest portion, the Note Holder will subtract the avount of ay saathly paq~eat fro~ the iaterest portion and will add the difference to oq uapaid priacipal balaace. The Note Holder w~11 also add interest on the iaterest added to priacipal will be the rate required by Sectioa 2 above. (B) Reductioas ia !Iy Uapaid Priacipal $alance Hy ~onthly pay~eat could be greater thaa the asount of a~oathly pay,ent which then would be sufficieat to repay ~y uapaid priacipal balaace ia full oa ihe ~aturity date at ~t curreat rate of iaterest in substantially equal pay~eats. If so, the Note Holder `rill subtrsct the difference fro~ the uapaid balance of ~y loaa each ~onth uatil the aezt Iaterest Chaage Date as if I had sade a partial prrpay~eat under } Section 8[of the Note]. ~ ~ (C) Lisit on liy Uapaid Priacipal Balance; required Full Payment F ; Asount ~ ~ ~ Mty unpaid principal balance can never exzeed a oaxisua a~ount ~ , equal to oae hundred tweaty-five perceat (125X) of the principal aaouat I originally borrowed. If my payiag the amouat of ary vonthly paq~ent 1 ~ calculated under Sectioa S above after any Iaterest Chaage Date would ~ s cause ry uapaid principal balance to exceed that vanimu~ amouat at aay - ' ~ time, I will iastead pay the Full Paqoent A~souat as my vonthly papsent ~ ~ uatil the next Paya~ent Change Date. ~ ~ 7. NOTICE OF CNANGES , ~ s ~ The Note Holder will mail or deliver to me a notice of aay changes a in the Full Payseat Asouat and my oonthly payoent before ttu effective ~ date of aay change. The notice Will iaclude iaforvation required by 3 ~ law to be givea oe and also the title and telephone nusber of a person ~ Who will answer any question I may have regardiag the aotice. ~ ; B. INCREASES IN UNPAID PRINCIPAL BALANCE TO BE SECURED. Borrover and Lender recognize that because of the operation and effect of the provisions of Sectioas 2, 5 and 6 of the Note as set forth ia Section A of thia Rider (the "Iaterest Capitalizatioa Provisioas"), the uapaid priacipal balance of the loan evidenced b~ the Note vay eaceed the original iadebtedness of 60,o00.referred to on ~ page one of the Security Iastruseat. BorroWer aad Leader agree that this Security Instruoent is givea not oaly to secure the payment of the t original indebtedaess evidenced by the Note aad the other matters ~ reerred to on page one of the Security Iastrwoent, but also to secuze ~ any increases in such principal balance arisiag bq the effect of ttie ~ ~ c~ ~y~ - (FL) FLEX RIDER BOOKJ~~ PAGf t~7t~V. Page3of6 • ~ ~ . ~ _ - - - _ ~ . _ _ _ .-.r