HomeMy WebLinkAbout0981 h:~i:~ri:r a~ :~t ~h~ Intcrr.t C'h:~n~r 1).~ir in (ulf ~,n the m~tunt~ ~a~e :~t in~ neH rati ui ~ntrrr,t in ~ub~tatitially cyu:,':
n~rnh I hr rr.ult ~~f ~tu. r.~l~ulau~m i. m~ iirH Fuil 1'e~ nirn~ Am~,unl
I:a:h nrw r,i1~ .sf ~ntrr~~t ~~ill tx•~~~me e~1~rrlnr i~n rarh Inirrr~t ('h:~n~r I).~tr. an~1 rarh nrH I~ull Paymrnl Antuunt
~~~II h~•:~+mr~ITr:~nr~~n lhrlir~l ni~~nthl~ ~r,i~mriit ~:+irafirr Ihr Intcri~~ ('han~;r 1),~tc.
t13~ Neyuircd f=ull Yuymcnt Amuunt
I~~~II ~,a~ ihc Full 1'.i~nirn~ ~~ni~~un~ n~~ ~u~~n~hl~ ~,.i~iu.~ni hriiiuiin:~ ~~~~h m~ 61,~ n~~~ititlil~ ~,a}incnt il n?~ nrH
r.~lr ~~I ~nler~.l i~ ryual ~u ~~r Ir~~ th:in thr tniual Itat< <~f Ii~lerr.l ~~r if I~i~, nui ~h~K~~c ?i~ liin~t th~ .im~~unt c,f mv nu~nihi~•
~,.~~nirnl a. ~•~•inii~t~i1 h~ ~rr~i~+n h ~,~1 hrl~~~~ f~~r!~ ~f I ~h~,~,.~ I~~ linti~ tn~ iu~~nih1~ E~.~~~urnl. !~~ill thr t ull I'.~tinrnt
A~nuunl hrEu~n~n~; ith m~ 1~ I,t nu,nthly ~~a~ mcnt. . .
5. (:R:V)L!ATt•:l) ~1O\TIII.I' 1',11'~il?\TS 1-60
!11~ tir~t 1_' m~~n~hly ra~ m~nt~ ~cill ra~•h bc in thr anu,un~ ~,f lLti. 5 .38 8...3.2..... On carh
~,f ~h~ finl li,ur anni~rnaric~ uf thr Jal~ n~~ fint nwnthl~' r:i}mcn~ i, .lur. 1~~ill br~;in ~aying a nr~~• munlhl~' raymrnt
~~hi.h ~?ill (x ryual ti~ the anwunl 1 ha~r be~n ~:+~ing mi~Iti~lieJ h~ thr nunibcr 1.075. I~~ill ra~ Ihe neH• ame~unt <~f my
n~~~~uhly ~a~mrnt until il ~han~e~ in a~~i~r~anrc ~~•ith ~his Srr~i~,n 5 ~r Sr~u~~m 6 ur 7 hrlow•.
G. RORRO~~'ER'S RIGHT TU I.I~IIT A~fUUNT ON ~lO1TI1l.l' PAl'~1I:1TS 61-120
1:~) C'alculation of Graduatcd ~tunthl~~ !'a~mcnt Amuunt
if m}~ ne~~ ratr of in~~rest at thr fint Intrrr.~ Change Date i, gre:~trr than thr Initi~l Ratr of Interr~t. 1 ma~• choou to
I~niit the amount uf m~ nrw nu,nthly r:~ymrnt. lf 1 ~io w, un eanc ~~f the Sth thrc,ugh 9th anni~•er+ariet c~f the date m~ firtit
nwnthly ~a~ mrnt i~ elur. 1~~•ill hrgin ~aying a n~H m~~nthl~' ra}~mrnt ~~~hi~ h~~ ill bc ryual tc~ the amc~unt 1}iave been pa} ing
niulti~,he~i hy thr numtkr IA75. E~•rn if 1 ha~e rhosrn t~~ {imit m~ m~,nthly ~a}'ment. Scctionti 6(B) or 6(C) bel~~~+~ may
rry~nrr m~ 1~, pa~ difTerrn~ ~nx~unt. 1~?ill gi~e the Ne~tr ftol~lrr nuti~c that I ha~e rhutien to limit mp monthly~ p~ymrnts
~t Ira>t I S days brfur~ my 61st munthly pa~•ment is due.
(t3) Reduced ~lunthl~• Ya~~mcnt Amount
~1y 73rd, ti5th, Q7th ~~r lOUth graduated munthl~• ~:~~mrnt ~al~ulat~d under Srrtion 6(A) atK~~e c~~uld be grratrr
than the amount of a manthl} p:+~~ment Hi~irh then wc~uld be ~ufTirient to reray m~~ un~aid ~rinc~pal balanre in fuU ~m the
maturity datr ut m~~ currrnt ratr ~~t ~nt~retit in tiub~tanuall~ ryual pa}ment~. lf s~, 1~?~il) instead then begin ~ay~ng a tzew
monthl~ p:~~ment. ~~hirh w~ll t~ eyu~l t~~ ttie lo~~er;~m~~unt. until my I? l.t mc~nlhly pa~~mrnt w•hcn 1 u•ill begin ~a~ing m}~
nr~~ Full Yavment .4mount.
(Cl Increased :~fonth~~~ Yayment Amount
;41~ ~+~ying a monthly ~a}ment ral~z~la~ed under Se~uun 6(A) atx,~e r~~uld rause m~ unpaid princi~al b~lance to
excr~d the limit stated in Section 8(B) beloti~. lf so, on thr date ttiat m~ pa~•ing a monthly Pa~~mrnt would cause me to
ex~eed that limit. I will in,~rad hegin pa}ing a new monthl~ Pa}ment until ~ny 1?Ist monthl}~ payment ~~~hen 1~~ill tkgin
~a~ u~g m~• ne~~• Full Pa~~ment Amount. This ne~+ mc~nthly p~~•mrnt w ill tk in an amount ~•hich would be sufFicient to re~»}~
m~~ then unp;~id ~rinc~pal halan~e in full un the m~turih date at my rurrent rate of tnterest in tiub~tan1ia11~ eyual pa~~mrnts.
7. ~101T}iL1' PAl'~lE\T 121 A'.VD RE~fAI'.~ItiG PAY~IE'.~"TS
F3cginning «~ith m~• 121st monthly pa}~ment, 1 w~ilt pay the Full Ya~mrnt Amc~unt as my mc~nthl} payment.
8. 1\CRF:ASES Iti THE PRItiCIYAI. A1tOUtiT TO BE PAID
(A) Additions to ~ty Unpaid t'rincipal Balancc
Ea~h of my first I?0 monthly ~a~~n?ents could be le~s th:?n the am~~unt c~f Ihe intrrest purti~~n of a rnunthl} pa~~ment
~ ~~•hich then would be sufTicient to repa}• m} un~~id princi~;~l balance in full c~n thr maturit}• date at m~• current rate c~f
interest in substanti311}' equal ra}•ments. If so, each month that the a~n~~unt ~~f my m~nthl~• ra~ment ~t Ir~s than the intrre~t
~ ~~rtic~n, the Note Holder ~~ill subtract thr ame~unt of m} mcmthh ~:~~ment f'rum thc am~~unt of the interest ~~rtian and
E ~.ill add the difTerence to m}~ un~aid ~rinci~al balancr. "The Note H~~I~i~r «~Il alui add interest ~n thr amount of thi~
; difTerenre to m~ unpaid principal b.~l:~nce rach month. The rate uf intere~t un the intrrest addrd tc~ pnnci~+.i! w ill be the rate
a rryuired b}' Sections 2 or 4(A ) abc~ve.
~ (H1 I.imit on Unpaid Principal f3atancc
E M}• unpaid principa) balance can nr~er e~ceed a maximum am~~unt eyual t~ one hundred twent}-fi~r ~CfCCfll ( ~ ~Sr~ ~
~ <~f the ~rin~i~al amount I originall~ horro~~rd.
~ 9, tiOTICE OF CHAtiGES
The hbte Holder w•ill mail or d~l~~~er to me a noticr uf any~ changr. ~n the amount of m}~ mc~nthl~ ra}•mrnt brf<~re the
rfi'ecti~r date of any change. The ni~tire will ~ncludr inf~rmation reyuirril b} law t~ti be gicen me an~l als~ the t~tle and
trlephcme number of a~erson w ho w~ill an~~~er any yuestion 1 rna}~ ha~r rrg,ircl~ng the nohce."
I3. CHARGES; LItitiS
~ l~ni(e>rm Ccnensnt 4 c~f the Securit~ In,trument i, amendrd tu read ati f~~ll~n~s:
~ 4. Charges; I.iens. I3c~rrc~ucr tihall ~a~ all taxeti, asse~timents, and ~ther charges, fines and im~~sitiim~ a~trihutable tu the
~ Pn~rerty wh~ch ma}• attain a rneint}' o~er thi~ Sc~urit} In~trumenl. and Ieauh~~W ~+.iymrntti or gruun~i rent~, ~f an). in thr
manner ~rcnided under ~aragraph 2 hereof ~~r, if nc~t ra~~1 in surh man?Zer, b}' R~irrc~w•er making ra?ment. ~~~hen d~e,
~ elirrctly~ to the rayee tl~ereof. (3vrrciwrr tihall ~r~~m~tl}~ furni~h t~~ Lendrr all nouces of amoumx due under thit rara~r.~~,h,
~ an~l in th~ evrnt F3urruwer,hall make ~a}~ment dirertly. R~~rre~wer ~hail ~romrtfy~ furnish tc~ Lender re~eipts e~idencing
~ ~~rh Paymen~s. E3orri~w~er shall prc~mrtiy di~chargr an} lien which h~. ~ne~nt}• en'er this Sc~urit} Intitrument: rn,~idrd,
~ that Borrower lhal~ nc~t be reyuirrd to di~eharge any tiuch lien sc? Ic~ng ati Borr~w~er. (al chall agrrc in ~~nting to the
~
~ ~ayment ~~f the cibligaUi~n serured b}~ tiurh iien ~n a m:inner accert~ble t~~ Lender, (h) tihall in gcx~~1 farth :cmtetil such hen
~ hy, ~~r defend againsi enf~~rcement ~f surh hrn in, leg:,) pt~xee~iing~ a hi~h in the o}~mic~n of Lcnder i~~rate t~z ~re~ent the
g cnforccmcnt uf ~he lien ~r feirfeiture of thr Yru~crt~• or an}~ {~art therre~f: c~r (c) tihall sccure fmm thr hul~rr uf surh lien an
r aercrmcnt in a fc~rm sautfactc~r~~ to Lciidrr ~utxxdinating ~uch licn to thi` Sccurity Insttument.
~ If Lendrr determine~ that aU or an~ ~art i~f ;he Yro~xrt~ iti ~ubJrct te~ ~ lien Nhirh ma}~ attain a rn~~nt~ c~~er thi. Secunt~
In~trument, Lender tihall tiend liurr~iwrr n~~tire idrnt~f~ ~ng tiurh hen. Hc~rn~wer tihaf! sausf~ tiurh lien ~~r take c~ne ~r mrre ~f
~ thr ~rUunti ~e1 f~~rth ahcn c w i1h~n trn d~~ ti c~f thr ~ng ~~f nnU~e.
~
~ C. 1OTICF:
~ (_~rufurm COt~crn~t la i,t Ih~SKC~tiI} In~.~~~,t?,<<~~ ~.;,~„~•~,~i~~~ <<~~i a~ t~~lln«~ .
~ 14. '.~otice. Exre~t f~~r an} n~~ticc rcywred under a~~lirahle law t~~ he g~~en in anc~ther manncr. (a) ~ny ni~t~ce to
~ 13~~rrc~wer ~r~~.icled fe~r in thiti Secunt} lnttrument shall he g~~en b~ del~~erFng it or h~ mail~ng it b} firtit clais mail
~ ~ (1$ ~
al~UK p~rsf
~ - - - - - _ _
~ __.~_a k ~.,~~M~,~ W:~