HomeMy WebLinkAbout0925 halao«• uf ?hr I~itrrr,t ('h;ui~;r I)atc ~R fuU un thr ma~urily da~c at my new rate c~f ~nt~rest ~n ~ubtitant~~lly ryual
~~a~ ~nrn~. ! hr rc~.ult ~~t tiu, ~al~ ulauun ni~ nr~~ {~ull Pa~ment Anwunt.
!.:li'}I llt'N r.~tr ut ~ntrrr~t w?I1 he~umr efl~rrti~r ~~n r.ich lntrres~ Changr Datr. and rarh nrw~ f~ull Paymrnt Am~~unt
ill hr:~,~nr rfl~r~n~r ~~n thr tint munlhly ra~ mrnt ~1:ur aiter ~hr interest Change D.~tr.
IB) Rc~uircd N'ull 1'a~m~nt Amuunt
1~~ill ~hr f~ull 1'a~mrnt Amuunt a~ my munthl~ ~a}mrnt bcg~nning with my 61st monthl~• payntent if m}• nrw
ra~r uf ~n~rrr.i i. ryual ~u ~~r 1~,. ~han thr Initial Ratr of Interrst or if 1 do not rha»e ti~ I~mit ~he amount of my r*monthly
{,a~nirn~ :i. ~xrnuur~i h~ ti«•t~un 6IA1 h~li,w. E~rn if ( rh~x,se to I~mit m}' munlhly' p~yment. 1 w~ill pay the Fufi f':~ymrnt
Amuunt hr~;~niun~;~~ith m~ 1'1.1 nu,nlhl) ~a~mrnt.
s. cR~~UI'A~I'F:U ~iUtiTlll.l~ E~nv~~N~TS i-bo
Vt~ tint 1_' nu~ntnl~ ~a~ mrn[~ w iU rach tx ~n the amount uf U.S. 5 On each
~~t th~ tint li~ur annner.arir, uf thr date my fir,t monthly payment is due, I aill begin pa~•ing a new monthly papment
hi~li H itl h< <yual tu thr am~~unt 1 h~~c been ~:~}•ing multiplied by the number 1.075. 1 H•ill pay the new amount of my I
m~~nthl~ r:i~ rnrrit unt~! ~t ~h~~nge~ ~n a~~ordanrc H•~th th~s SecUOn S or Sections 6 or 7 below~. ~
I
6. BORRO«'ER'S RIGHT TQ I.RtIT A~10U'~T UF ~10tiTHLY PAY1fENTS 61-120
(Al Calculation of Graduated ~fonthl}• Payment Amount
If m~ nrH rate uf intere~t at the fint lnterest Change Date is greatzr than the Initial Rate of Interest. 1 may choose to
limit the ajnuun~ of my nrN mun~hl}• pa}~mrn~. lf 1 do so, on each of the Sth through 9th anniversaries of the date my first
m~~nthly payment is due, 1~vill t~egin ra} ing ne~t monthly payment w~hich w~ill be equal to the amount I have been paying
rnulti~Grd by thr n?~mber 1.075. E~rn if I ha~e rhosen to limit my monthly payment, Sections 6(B) oc 6(C) below• map
reywrc me t~~ pa}• ;i ditTerent .?m~~unt. I will gi~e the Nute Holder notice that [ ha~e chosen to limit my monthly payments
at lra~t 15 d.+~•. br(~,re my 61st m~~nthl} pa~ ment is dur.
IB) Reduced ~toothl}• Pa~~ment Amuunt
~1~ ?3rd. HSth. y'th c~r l0yth graduated monthh pa~ment calculated und~r Sectian 6(A) aboti~e could be greater
than thr am~~unt uf a monthl} pa~~ment hirh then w•ould be sufficient to repa}• m~~ unpaid princi~al balance in fuU on the
maturity~ d:~tr at my ~urr~r~t rate i~t ~nterr~t in suhstantial!}~ equa! pa~ments. If so. 1 w~il1 instead then begin paying a new•
mcmthl} p~~ment, uhirh wi11 bc~ eyual ~n the l~~wtr amount, until m~~ 121st monthly payment when I w•ill begin paying my
neW Full Ya~ment Am«unt.
IC) lncreased ~fonthly~ Pa~•ment Amount
My r:~~ing a monlhl~ pa~ment ralculated undrr Section 6(A) abo~e could rause my unpaid princ~pal balance to
e~rr~d the I~m~t ,tatrd in Sertian 8(B) bel~~w. If ~c,, on the dare that my pa~ing a monthly payment w•ould cause me to
r~.erJ that I~mit, 1 w~ll intitead hegin ~a~ing a new me~nthl~ payment until m}• 121st monthl~~ payment w~hen t w~ll begin
~a~uig mi nrti Ful! Pa~ment Am~~unt. Thiti nrw m~~nthl}~ ~ayment w~~ll be in an amount which woutd be suflicient to repay
m~ then un~aid ~nnri~al hal:~ncr in full ~~n the maturit}• date ~t m} current rate of interes~ in substantiall~~ equa! papments.
7. ~l0\THI.I' PAti'~fE\T 121 A\D RE'~tA[til~t: PAY11F\TS
Be~inning Hith m~ 1_' I.t rni~nthi~ ment, I~~~II pa} the Fuil Pa~ment Amc~unt a~ m} mnnthty~ payment.
8. I\CREAtiE~ 1\ THE PRI\('IPAI. A~IOUtiT TO BE PAlD
IA1 Additions to 11}~ Unpaid Yrincipal Balance
E:ach ~~f m~ fir,t 120 mc~nthl~ pa~ ments euuld t~e leti~ than the amount of the interest ~rtion of a monthl} pa~ ment
~chi~h then «~~uid t>e tiutiirirnt tt~ repa~ m} wi~aid prinripal halance in full on the maturit~~ date at my current rate of
intrrr~t in ~uhuanualt~ eyual ~ay mrnts. If.e,, rach munth that the am~unt uf my~ monthl}• pay~ment ~s less than the interest
~eirt~c~n, the ti~~te N~~lder ui6i rut~trart ihr amuunt c~f m~ mc~nthly~ ~a~mrnt from the amount of the interest portion and
w~!! add thr difTrrencr t~ m} unraid ~nn~tpal halanre. Thr ,'V~te Holder will ako add interest on the amount of this
~1~fference tc~ m~ unpaid ~nnci~al balsn~r rach munth. The rate of inter~~st on the ~nterest added to pr~ncipal w~ill be the rate
reyuired b~ Sertionti 2 or 41A1 abcne.
lB) I.imit on L'npaid Principal Balance
~1c un~aid ~rinci~al halanre can nr~rr ex~eed a marimum amc~unt eyual to ~ne hundred twent}-fire percent (125~''c ) ~
~,f the rnn~~~a! amuun[ I~~nginally M~rri~Ned.
4. \OTICE OF CHA\GFS
Thr ti~,i~ H~~Idrr wili mail ar drli~er t~~ mr a n~~nce ~fan~ rhanges in the amount af m~ monthl} pa}•ment before the
rtTecu~e date ~~f an} rhange. "The n~~t~~e H~II include mtormauon required b}• taw• to be g~~en me and also the title and
teferhunr nurnEser ~~f a~r~„n w h<~ wi(i antiwer an~ yurshon I may~ ha~•e regarding the not~ce."
B. CHARGFS; LIEtiS
L'nif~~rrn Cc~~rnant ~i c~f the Serunt} IntitruRtent is amended to read as follou•s: x
4. CharAes; I,iens. F3~~r~c~wer tih~li pa~ all taxes, assessments, and other charges, fines and ~mpositions attributable ro the
Pro~crt~ w hirh mac auain a~ri~~nt~ ~~er this Security~ Instrument, and leasehold payments or grour~d rents, if any. ~n the
m~nnrr ~r~n ided under ~aragraph 2 here~~f or, if not paid in such manner, b}~ Borrow•er making pay~ment, when due. 3
dire~tl~~ m the ~a}re ;herroC Bc~rrc~wer shal! pre~mptl}~ furnish to Lender all notices of amounts due under this paragraph, ~
and in the etirnt B~~rn>uer shaJl n~ake pa~ment directl}~, Borrow~er shall promptly ('urnish to Lender receipts e~~~dencing
such ~a~mentti. B~~rrower shall rr~m~tl~ discharge any lien w•hich hati priorit}' over this Security Instrument; pro~•ided. +
that H<~rre»cer tihall nc~t be reyuired to ~ischarge any such lien so long as Borrower. (a) shall agree in w~rit~ng to the
Pa}ment ~~f thr ~~hl~gatu~n tierured b~ ,uch lien in a manner acceptable to Lender, (b) shall in good faith contest such lien
h~, ~,r defrnei aga~n~t enfi~rcement of tiurh lien in, legal proceedings which in the opinion of Lender operate to prevent the
rnf~~r~rment ~~f chr hen ~~r t~~rfeiturr of the Ympert} or any~ part thereoE or (r) shalt secure from the hotder of such lien an
agrerment in a f~~rm ,au~fart~~ry tc~ LenJer subordinating such iien to this Security instrument.
!f l.endrr detrrmtnr~ that all c~r .in} ~art c~f the Pru~rt~~ is subjeet to a hrn which ma}~ attain a~riority~ over this Security
Intitrumrnt. Lrndrr .hal! ~end Re~rr~~w~er nnt~re ~denNtying such lien. ~ormw•er shall satisfy~ such lien or take oRe or more of
the a~N~mti ~et ti~rth atw~~r ~.ithin ten ~ia}~ crfthe gi~ing ~~fncitice.
C. ~UTICF: -
l'nili~rm C'~~~enant I~i ciF ~hr Jr~urtt~ Intitrument i, arrlendrd t~> read as fc~llows:
14. \utice. 1~<<r~; t~~r an~ n„tire reyuired under ar~~licable lav?~ t~ be given ~n another manner, (a) any~ notice to
F3~~rr~~~+er ~~~,~.~~i«i r~~r in thi~ Srrunt} (ntitrun~ent shall be given by delivenng it ar by mailing it by first class ma~l
~ i~ Y!'.E !]~.fJ