HomeMy WebLinkAbout0927 ~ ADJUS"TAI3LE RATE RIDE~
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TIlIS AD1US1'AIiLE RATt: FtII)f~R i. ma~l~ ~hi... t...... da> c~f ugus.t 1y83....,
and i~ ~n~ur~x~r~t~~ inlu an~ >hall tk Jrrmctl tu anu•n~l an~) ~u~~~l~ inrnt lhr ~1~,rigagc, DcrJ af Tru~1. ~~r D«d to Sr::urc
Drbt (th~ "Scxuril} In.irumrnt"1 of Ihr .am< <latc gi~rn hy thr u~idrnign.d (ihc "(~urru~vrr") tu ~rcure Rurro~?cr'~
Adju~table Itair Note t~, PINE STATE SECURITIES...CORPOR~.TIO~I
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(Ih~ "I.~n~lcr") ~,f Ihr ~antr datr I~h~ "Nulr") ancl cu~~rring th~
~ro~trty dc~rribed in 1h~ Srcurity In~trumcn~ :ui~3 I~xatr~i:~t.
1238 S.W, Janette Avenue, Port St. Lucie~ F1. 33452
(Property Addrest)
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The Note contains provisions ollowing for changes in the interest rate every S
years. If the inferest rote increases, the Borrower's monthly payments will be
higher. If the interest rote decreases, the Borrow~r's monthly paymentt will be
lower.
Auu17w~,~t. Cc~~F:x,~~T~. ln adclitum to Ihr ~~~rn:~nh an~i .~gr~emen~ti m~~1c in thc Srcurity Inctrumcnt,
Dorro~~•~r and Lrndcr furthrr ~o~ rn:~n~ :uid :~grrr a. fi~llu~~.:
A. 11iTEREST RATE A\D 1iOtiTNLY 1'AY~1~:tiT C71:~\GF.S
T#~~ N~,ie pro~ ides f~~r :~n inilial in~cresl r~i~ t~f ..12_..625_.....~'~ . tir~ti~,n ~i uf thr Nntr ~r„vidr, fi,r chang~~ ~n the interest
ratc a~id thc munthly r~ymrnt., a. f~~11i~~~.:
•,4. 1\TEREST RATF, AtiU \IU~"TIIL~' t'Al'~fE\T C'l1:~\(:I~.ti
(A) Changc Dates
The rate of interest 1 will ~~;~y may ch:inge t~n thc tir.t da~ uf _,.September .~9.88........, and on that
da~~ every 60th month therraR~r. E.ich datr on hi~ h m~ r.~tr ~,f ~~i~rrr.~ rr~~ld rhange i~ caUe~1 a"Chanb~ Uale."
(R) 1'he lndcx
Any changes in my r:~te of interr~t ill h~ ha.r~t ~m ~ hank~. in the Irnl~•~. Thc "Indcx" is the ~ve~kl~~ avcrage yield on
Unit~~ States Trea~ury S~curitir. c~djust~d t~~ a cc~n:t:~nt m:iturit~ rf ~~e:~r., ;~s m:u1c a~•ailahle by the Federal Reserve
I3~~rd. The mc,st recently a~~~ilat~le Inde.r Ggur~ ~~l ih~ c1:~Ir ~l5 et:i~. heli,rc r:i~h Change D•ate i~ ca11rJ lhe "Current
~ lndet."
" thc Index is no longrr a~ailahlr. thr :1u~r H~~Idrr ~~ill rh ,~,.c nr~~• inele~ ~~h~~h ~c b:ucd uron comparable
infi~rmatiun. The Note Nolclrr ill gi~r mc nutir~ ~f thiti rhoire.
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(C) Calculation of Chan~es
E3eforr each Change Date, the No~~ H~ider Hil! caliuiate m} n~~c r;~te i~f intcre.t b}' adJing ~015 ~~centage
; ~ints -015. Mc) to the Current Li~irx. Thc N~~tr l lulcler ~cill tl~~ii r;wnd the re~ult ~f this addition to the nearest one-
eighth of one ~xrrentage pc~int (0.125`"~). Thi~ munc+~~c1 am~~u~~t ~~~ili hr m} ne~~ rate <,i'ieiterc~t until the next Change Date.
` The N~te Holder «~ill thrn determinr the amo~l:?1 ~~f the m~,n(hl~ ~a~~mrm that ~vould be sufTicient to repay the
; unpaid principal bal;~nrc of m}~ lo:in as o( a Changr Da~e in fuil ~~n ihe ma~uril~ d~~te at my new rale of interest in
substantially equal pa~•ments. The resul~ uf this calculaiirn w ill h~ thr nr~~ anwunt uf my monthly payment.
(D) Effectire Datc of Changcs
My neu~ ratr o( intcre.t ~viil berc~me elT~rti~•r ~~r rach Ch:~nce [~a~e 1 will ~a~~ the ne~~~ amount of my monthly.
pa~~ment each month bcginning on the fir,t mi~nthly m~nt d.it~ aRrr thr Ch;~nFe Date until the amount of my monthly
payment ch~nges::gain.
(E) `oticc of Chan~cs
' The Nute Hulder ill mail or drlivrr tc, me :i n~,ticc ui an~ ch.in~r. in thc amc+unt ~f m}~ mi~nthl~• 4,a~ ment before the
efTecti~~e date of any change. Th~ n~~U~e aill inrlu~lr infi~rmatiun rryuir~:! hy la~~• t~~ be gi~~en me ar~d al~~~ the title and
i tclerhone number~~f~ ~,crs.,n nhu ~~ill :uis~tirr an~ yu.,tic~n ( in.~~ h.nr reFarding thc if~,tire... •
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~ B. CHARGES; Ll[;1S
Uniform Covenant ~i~~ftheSrcurit~~ In~trument i,:~mcnii~cl re:~.1.~ti f~•ltu~~~:
~ 4. Chargcs; I.icns. F3cnruwer ~h~11 ra~~ ~I) t:t~«, a~~r~~nunt~. :~nc1 ~~thrr rh;irgc,, tines and im~usiti~ns attributable to the
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~ Yroperty whirh may attain a rriorit}• o~~er thi, Se.•unty In.truni~i~~, an~t Ic~;itirh~~td ~a}•ments ~r gmuncl rents, if any, in the
E manner ~ruvidrd uttder r:ira~r:,rh 2 hercc~f c~r, if m,t ~,;uJ ni ~u~I~ nianner. hy (3e~rrc?~~er m:iking r~~•rnent. w~hen due,
~ directl~~ to the pay~ee therrof. [3~~rrc~~~cr shall ~rumrtl} furni>h ~n Lrn<lrr .ill n~~ticeti af .~mounts c~uc under this par:~graph,
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and in the e~ent Borro~ccr shall make ~:~y~ment dirrrtl~. i3~~rr~,~~~~r ,l~:ill Prn?n~tlp (f~rnish to Lender receipts evidencing
; surh pa}•mrnt~. f3orrc~w•cr shall ~~rc~iti~tly di+rh.~r~r :ui) I~~i: :~hi~h li:i. (iric~ril~~ mcr ihi~ Sccurity Instrumrnt; rro~iJcd,
~ that I3orrrn~~er shall n~t br reyuir~J to di~ch.~rgr an~ ~u~h lic•n I~~n~ ,~s Ri~rm~ccr. (a) shall :~grce in ~ti•riUng t~~ thc
~ payment of the ubligatic,n tiecurr~ h~ tiu~h I~~n ~n a ni.~nn~r ;ic~r~t.~hl~ t<, L~nder. (b) tih:ill in gcxxl L•iith contrst such lien
by, or defend again;t enCorcement ~,f,uch lirn in, Icgal ~~rrc~r~l~ne. hi: h in Ihe ~~~iniem uf Lender operate to ~revent the
enfore~ment of thr lien or ~e~rf~iturr ~,f thr 1'n,rrrt. nr .in~ r.ir t th~ rr~~f. ~~r (c) ~h,ill .rr:~re fr~~m Ihc h~~lder ~~f such lien an
agrc~ment in a furm ti.~~i,~artun~ t~~ Lrndrr.nburJin.~iin~.i~: li lirn i~, tl~i. Ciiu+it~ In~tnmlrnt.
[f l.endrr dctermine~ thal all ~~r :?ny ~,ar~ ~,f Ihr !'r~,~,~rt~ i. ~uh~,~t :i lir~~ ~~hi~h ~i:e~' .ill:i~n a rri~,ri~y c~ver this S~~urit~.
Instrument. Lender shall ~rnd l3c,rn,«rr n~~ti~~• icfrriif~ in~,.uch li~n I3~,rn~~crr.hall s:~1i~(}~ wch lirn or t.~ke one or mure of
the actions set forth atx~ti ?t hin ~rn da}, ~ he gi~ in~ ~~f n~+I i: r.
. C. NOTICF
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~ Unifurm Covcnant I~ ui ~li~ S.~unt} lta.truni.~il i~:unrn„rct t~, rra~l a. full„~~,:
~ 14. tioticc. Ezcert f~~r an~ nuii~~ r~yuirr~i un~l~r :i~~~~li~:~hlr ~r h~ ~i~rn in an~ithcr manncr. (a) :~n} nut~rr tc~
[3orr~~~ti•er ~rrniclcd fc~r in thi, S~ruri~~ li~,trurnrnt ~lr.ill hr ~i~.•n h} ~1;1i<<nn~; it nr h~~ mailing it b~~ firtit cla~, m:?il
addressed to [3:irrc~~crr at th~ I'ru~,cri}~ A~l~ir.•,. i~r ai ~urh ~,;li~r :ict~irr..:?. 13~,rrc~~~~rr n~:~y d~~ignatr b}' nulicc tii Lcnd~r as
PLAN 6 RIDER-s~nyle fomily-9 82-FNI'~4 Uniform Instrument P~ ~
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