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Home My WebLink About0971 b~lance N Of the lnterc~t Change Date in ful) on Ihe mawrity datr at my new rate of inte~est in iubstantially eqwl p~ymqltl. The result ~if th~~ raiculalion ~ti my n~w f~ull Payment Amount. ~ Each aew rate of intrr~~st will txtiomr rffcrtivr un each Interest Change Date, and cach n~w Full %yment Amount will become efli~tive ~m the first monthly payment da~e after the ~nteresl Change Dale. (B) ReQuired Full Payment Amount I will pay the Full Paymrnt Amount as my monthly payment brginning with my 61st monthly payment if my ntw rate of iMerrst is equal to ar Ic~s than the Initial Rate of Intrrest ar if 1 do not choose to limit the amount of my monthly paymenl as ~rmitted by Sectioit b(A) below. Fven if 1 rha»e Io limil my monlhly payment, I will pay the Full Psyment Amount beginning wilh my 121st m~~nthly paymrnt. - 5. GRADUATED MONTHt.Y PAYAlENTS 1~0 My first ! 2 m~~nthly paymen~s will e•rrh be in the am~~unt of U.S. 5......SQ ~~.76 On each . of the first fo anniversaries uf thr dale my first munthly payment is due, I will begin paying a new monthly payment which will be~i~j~~thiraa~k?un~ 1 have been paying multiplird by the number 1.075. 1 will pay the new amount of my manthly payment until it changr~ ~n arrordance with this ScY lion S or Sections 6 or 7 below. 6. 80RROWER'S R1CHT TU 1.IMIT AM1fUUNT OF MONTNLY PAYMENTS 61-120 • (A1 Calculation of Graduated Monthly Payment Amount If my new rate of interett at thr first Interest Change Date is greatcr than the Initial Rate of Interest. I may choose to limit the amount of my new monthly paymrnt. [f I do su, ~~n rach of the Sth through 9th anniversarics of the date my first monthly payment is due. 1 will begin paying a new monthly payment which will be equal to the amount I havt been p~aying • multiplied by the nurnber 1.075. Even if 1 have ch~ceR to limit my monthly payment, Sections 6(8) or 6(C) below may require me to pay a dilfererft amount. 1 will give the N~ite Holder notire that 1 havc chosen Io limit my monthly paymrnts at least 15 days before my 61st monthly payment is due. (B) Reduced Monthly Payment Amount My 73rd, 85th, 97th or 109th graduated monthly payment calculated undcr Section 6(A) above could be greater than the amount of a monthly payment w•hich then would be sutTicient to repay my unpaid principal balance in full on the maturity date at my current rate of interest in substantially equal payments. If so, I will instead then begin paying a new monthly payment, which will be equal to the lower amaunt, until my 121st monthly payment when i will begin paying my new Full Payment Amount_ (C7 tecreased Monthly Ps~yment Amount My paying a monthly payment calculated under Seclion 6(A) above could caust my unpaid principal balance to exceed thc limit stateci in Section 8(B) below~. !f so, on the date that my paying a monthly payment would cause me to eaceed tha"t limit. ! will instead begin paying a new monthly payment until my 121st monthly payment when I will begin paying my new Full Payment Amount. This new monthly payment will be in an amount which would be suff'icient to repay my then unpaid principal balance in full on the rnaturity date at my current rate of interest in substantially equal payments. 7. MOM'HI.Y PAYMENT 121 AND REAIAINING PAYMENTS Beginning.with my 121st monthly payment, I will pay the Full Payment Amount as my monthly payment. s. INCREASES IN ?HE PRINCIPAL AMOUNT TO B~: PAID (A) Addltions to My Unpaid Princ?pal Balance Each of my 6rst 120 monthly payments could be less than the amount of the interest portion of a monthly payment which then would be sufficient to repay my unpaid principal balance in fulf on the maturity date at my current rate of interest in substantially equal payments. If so, each month that the amount of my monthly paymcnt is less than the interat portion. the Note Holder will subtract thc amount of my monthly payment from the amoont of the interest portion snd , witl add the dil'ference to my unpaid principal balar~ce. The Note Nolder will also add interest on the amou~t of this differ~esce to my unpaid principa! balance each month. The rate of interest on the interest added to principa) will be the rate roquirod by Sections 2 or 4(A) above. (B) I.jmit on Unpsid Principa! Balance My unpaid principa) balance can never exceed a maximum amoun~ equal to one hundred twenty-five percent (125%) of the principal amount I onginally borrowcd. 9. NOTICE OF CHANGES The Note Hold~r will mail or deliver to me a notice otany changes in the amount of my monthly payment before the ef~ective date of any change. The notice will include information required by iaw to be given me and atso the title and telephone number of a Exrson who will answer any question I may have rcgarding the notice." B. CHARGES; LIENS Uniform Covenant 4 of the Sccun~y Instrument is amended to read as ~ollows: A~arges; Liens. Borrower shall pay all taxes, assessments, and other charges, fincs anA impositions attributable ta the Property which may at~a~n a prionty over this Serurity Ins~rument, and leasehold payments or ground rents, if any. in tht manner providtd under paragraph 2 hereof or, J not paid in such manner, by 8orrower making payment, when due, directty to the payee thcreof. 8arrower shall promptly furnish lo Lender all notices of amounts due under this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly furnish to Le~der receipts ev~d~ncing such payments. Borrower shall promptly discharge any licn which has priority over this Security Inst~ument; providtd. that Borrower shall not be required to discharge any such lien so long as Borrower: (a) shall agree in wnting to the payment of the obligation secvred by such I~en in a manner acceptabl~ to Lender; (b) shall in good farth contest such lien by, or defend against enforcement ef such lien in, legal proceedings which in the opinion of Lendcr opcratt to prevent Ihe enforcement of the lien or forfeiture of the Property or any part thereof; or (c) shall securc from thc holder of such lien an agrcemcnt in a form satisfactory to Lendcr subordinating such lien to this Sccunty Instrumcnt. If Lender determines that all or any part of the Property is subject to a lien which may atta~n a prionty over th~s Security Instrument, Lender shall send Borrower notice identifying such lien. Borrower shaN sat~sfy such l~en or take one or more ot the actions set forth above wirhin ten days of the giving of notice. C. NOTICE . Uniform Covenant 14 of thc Sccunty Instrument is amended to read as foUows: 14. Notice. Exccpt for any notice reqwred under applicabl~ law to be giv~n ~n another manner. (a) any notice to Bo'rrowcr prov~ded for in this Security Instrument shati be given by delivering it or by mailing it_b~ st class msil ~~398 PA~f ,J ~ - - - - _ - m