HomeMy WebLinkAbout0990 halanr~ a, uf Ihr Inirrr.~ C'han~;r I)atr in full un thr n~aturity ~latr at my nrw rate of intrrr~t in tiubstanti:~ll~~ ryual
~a~~nrnl.. l'hr rr~ult ~,1 thi,.<ikulatu,n i, m~ nr~v Full Ya~nic~~t An:+~unt.
t~.a.•h nrH ra~r ul ir,~crr.~ will hrcumr ~tl~rrti~r un rarh Inirrr,l C'hangr t)a~r, an~i ea~h r,cw t~ull Paymrnt Aniuunt
ti~li hrrun~~ ~tli~•ti~r ~~n ihr nnl munthly E~aynirnt ~l:ilr atlrr Ihr Intrrrtit C'h.~ngr I)atr.
(B) Rcquired I~uil F'ayment AmouM
I~~ill ra~ Ihr t~ull Yaymrn~ Am~~uut a, m~ m~,iithl~ ~,a~rnent hrginning with my bltit m~~nlhly p~}mrn~ if my nrw
ratr ~~1~ ~nterr~i i~ cyu:ti tu t~r leti~ Ihan th~ ItuUal Ral~ uf Intrrest ur if ! Ji~ ni>t rh~wti~ t~~ limit thr amuunt of m~~ mi~nlhly,
E,a~mrnt as ~,rrmittr~! h~ S~rti~~n b(A) hrluN. E~~n ~f 1 rhuu~r ti~ lirnit my munthl~ ~~a~m~nt. 1~~ili ray Ihe Full F'.i~mrnt
Amuuni hrginning Hith m~ 121~t nu~nthly paymrnt.
5. GR~!)UATEU ~f0\THI.1' YA1'~fE\7'S 1--60
M~' tirsl 12 munthl~ ~a~ mrnt~ iU c;~rh br in thr amount ~~f U.S. 5 ...................3~.1...~1 On r~rh
uf thr tir.t ti~ur anni~cnar~c~ uf the ~iatr my tint munthly ~~.~~m~nt iti du~. 1 will hrg~n ~~a.ing a nrw munthly ~a~mcnt
Hhirh Hill he eyu~l tu the anwwri 1 hacr hern pay~ng multi~hed h} thr numbrr 1.075. 1 w~l) ray the nru anu~unt i~f my.
munthl~ ra~ mrnt until it rhangr, in accuruanre with thi. Se~ ti~,n s~~r Srrt~~~nti 6~,r 7 hrluw -
C+. BORRO~~'F,R'S RlGHT TO [.1111T A110Uti"I' OF ~iUVTHLY YAY~tEtiT'S 61-120
(A1 Calculation of Graduated 1lonthl~~ Ya}~mcnt Amount
If m~ new ratr of interest at thr tirst Intrrest Changr D:~te is grrcitrr than the Initial Ratr of Int~retit, 1 ma}~ ch~xnr to
limit ~h~ am~~unl ~~f mp ne~n~ m~inthly pa}ntrnt. I(1 ~i~> >o. ~~n rarh uf the Sth thruugh 9th :~nni~er~:~rirti of Ihe date m}~ first
nwnlhly' ~a}'mrnt is due. 1~~ ill brgin ~ayinc; a nrH monthly ra~ minl H hirh H ill he eyual t~~ the am~~unt 1 h:~ve becn pa~ ing
multi~lird h} the numhrr 1.075. E:~rn if l ha~r rhi~sen t~~ limit my m~,nthl~ ra~mrnt. Srcti~~m b(I3) ~~r 6(C) brlow ma~.
r~yuire me to ~ay a diffrrcnt amuunt. 1 will gi~e th~ Nu1r Hul~lrr n~~ticr that 1 ha~r ~h~~srn ti~ limit m~- monthly papmentti
at Irast 15 ~,~ys bef.~r~ m~~ 61~t m~~nthly' pa}mrnt i~ ~fur.
(B) Rcduccd ~tonthly Pay~ment Amount
M~ 7ir~1. KSIh. 97th iir 109th gr:~~fua~r~l munthl~~ ~a}mrnt ralrulate~i un~Jrr Sr~1i~~n 6 IA) ab~~vr roul~i br grrater
th.~n thr:~rnuunt ~~fa nu~nthly' ~a}~ment whi~h ~hrn wc~ul~i br tiufTirirnt ti~ rrra~ m~~ unpa~d ~rinripal balanre in full ~,n the
m:~turit~ d~tr ,it m} rurrent rc~te ~~f inlerr.t in ,ub.tanti:+ll~ ryual p~~mrnt~. If ~a, 1~~ill in~trad then begin pa~~ing a new•
m~~nthl~~ ra~ment. N~hi~h Hill tk eyual tu the luwer;~muunt. until m~ 121tit m~,nthl} ra~mrnt when 1 will t>egin ~,a}ing my.
new I=ull 1'~vment Amuunt.
(C) Increased ~Tonthly Payment Amuunt
M~ ~a~ing a mi,nthly rayment ralrulatrd under SrrUun 6(A) atx~~r re~uld rau~r m~ unpa~d rrinri~al balance to
exre.r~i the limit ,tatrd in Sertiun 8(B) brlc~a. lf,o, ~m thr ~fate that m~ ~aying a monthly p;~ymrnt would rauu me to
exreed that limi~. 1~~ i~l ~n~tesd brgin ~ay ing .i nr~~ numthl~ ~a} ment until nty 121st mimthl} pa~ menl w•hen I w ill begin
ra~ ing m} new Full Pa~ mrnt Amuunt. This new m~~nthly ~a~•ment w ill be in an ~m~~unt w~hizh w•i~uld he suflirient to repa}~
m~~ then unraid ~rin~iral bal~nre in full ~~n thr rn:~turit} date at m}• curreiit rate i~f ~nterr~t in wb~tantiall}~ ryual pa~ mrnts.
7. ~t0\THI.I' YAl'~tEtiT 121 A'~D RE~fA[\I`G YAY~fEtiTS
B~ginning with m}~ 1?lst m~mthl} ~a~~ment. 1~~~ill ~ay thr Full 1'aymcnt Am~~unt,ati m~ m~~nthl} (~aymrnt.
8. ItiCREASES Iti THI~: PRI~iCIPAI. A~fOUtiT TO BF. PAID
IA) Additions to Lfy Unpaid Principal Balance ~
E:arh af m~~ hrst 1?(1 ?ni~nthl~ pa}~ments c;aild be Ir;s than the amuunt ~~f thr in~errst ~x~rtiun uf a monthly pa~ment
~h~rh ~hen ..~,ul~ F.e ~~i~ir~er~t t~, re~a~ m~ un~a~d pnnri~.il balanr~ in f?ill im the n~slur:t; •~::e at n~; ~~rrer.! r::te ^f
j interest in,ubstanti:ill~ eyual ~a~mentti. Ifs~~, earh month that the amciunt iif m} m~inlhl} {~a}ment iti lesti than the interrst
E Ex~rt~c~n. the N~ite Holder will tiubtract thr amc,unt i~f m} murthl}~ ~~}~mrnt frcim Ihr amc~u~u ~~f the interc~t ~~ru~~n and i
~ wil! add the difT.rrnrr tu m} un~aid rnnri~.if halanre. 7~hr Nute H~~Ider Hill al~c~ add interetit c~n the am~~unt of thi~ '
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; ~iifT~ren~e ti~ m}~ unpa~d ~rinri~al balan~c r.irh m~mth. ~I~hr rat~ ~~f inlerc.t ~m !he intrretit ~dd~d ti~ rrin~ipal t~ill he Ihe rate
~ reyuired b} Sertions 2~~r 4(A) atxne.
~ (Bl I.imit on l'npaid Principal Balance
' M~• unraid rrinri~al balanre ~an nr~er ex~rrd a maximum ami~unt eyual t~~ ~,i:r hundred twent~-fi~~ ~rrrent (1?5~"~ )
~ ~~f thr rrinci~+al :~moum 1 uriginall~ M~rr~~wrd.
9. \OTICF. OF CHAtiGES
~ The tii~te Hold~r wilf maii c~r deli~er tc~ mr a nc~ticr e~f ~in} rhange, ~n the ami~unt ~~f m~ mimthl} ~a}'mrnt hrfurr the
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~ efTerti~e J;ite c~f anc rh~nge. The n~itice wiil inrlude inf~~rmatiun reyuire~l by~ law t~~ he g~~rn me and altic~ the utle and
tzle~hune number ufa penon ~she> w•ill an~w~er an~ yue~ti~~n I ma} h~~r rrgarding the ni~hre."
B. CHARGES; I.IEtiS ~
~ Untfc~rm C~~crnant -3 e~f ~hr Securit}• In~trument i, amended t~i re~id ati fc~ll~~w~:
~ 4. Char~es; I.iens. l3orruw~er tihall pa~ all ta~rti, atiu~smentti, and cither ~harges, tineti and ~m~is~ti~~nti altributable tc~ the
i Ym~rrt~~ which m:~y att.iin a prior~t~ o~er this Sr~unt} Inti[rument, ar~d Ieasche~ld ra~mrntti ur ground rents, if an}, in the
~ manner rro~ided under ~aragraph 2 he~eof or. if ne~t ~aid in such manner, b} Be~rrc~wer making ~a}~ment, when due,
~ dtrecll}~ t~~ the p~}•re thrreof. Borrc~w~er shall ~rumr~l} furni~h tc~ Lcnder all n~~tices c~f amuun:~ due under this paragrs~h, ~
and in the r~ent I3orruwer shall make pa}ment directl}. Bi~rr,~wer ~h;+ll ~+rv~mr~~~~ furnich t~~ t.ender r<~rei~+t~ evidenrin¢ ;
- wrh pa~mentti. Re~rrower tihall ~romptl} d~srharge an} lien ~~h~rh hati ~ric~rit} c»er thiti Securit~ Instrument; rm~ided, ~
g that E3orr<~wer shall n~t be reyuired to di~rharge any tiurh lien sc~ lortg as Bt,rrc~wer. (a) shall agree in w•riting tc~ the ;
~ payment uf the obligation tiecured h} surh lien in a manner acre~table t~~ Lender; (b) shall in g~x~d faith contest surh Gen '
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h}•. or defend against ~nF~rcement af such lien in, IeRal ~rcxeedings K•hich in the opinion uf Lender operate to prevent the
~ enforcement uf the lien or fe~rfeiture of the Yroperty~ or an}• part thereof; ~~r (c) shall secure from the h<~lder of such lien an
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agreement in a f~~rm sati~factor}• to Lender subordinating such lien io this Securit}• l~strument.
~ If Lender determines that all ~r any r~n e~f the Pmperty i~ tiubject t~i a lien w hich may attain a priorit~• <~~er thiti Secunty
~ In~trument, Lender chall tiend Bc~rrower nutire identifyi~ig surh licn. B~rrc~wer shall satisf~~ surh lien or take one or mc~re of
the actiuns set fi~rth abcne ~rthin ten da}ti of the gi~ing of n<~Ure.
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~ c. NOTICE ~r ~ PeGE
~ Unif<~rm Ccnenant 14 ~~f thr Securit~• Intitrument iti anicnd~d tc~ rcad ati roll~~w~: -
14, tiotice. Exce.~t fi~r an}• n~~uce reqwred under applic:~ble law to be gi~~en in another manner, (a) any nouce to
E#orre~w~er ~ra~~ded f<~r ~n this Serurity Instrument shall be given by delivering it or by mailing it by first class mail
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