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HomeMy WebLinkAbout0941 22071631 . ~ ~ ~ ~ ~ ADJUSTABI.E RATE RIDER THIS ADJUSTABLE RATE R1DER is made this ....~.St... day of ......August : , 19 33 , and is inoorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or De~d to Securc Debt (the "Security InsuumentClT ZENS FEDER~Lg~SRVb~1GS~ANDeL0~1N ASS~CIATIONeOF ~S ~ure Borrower's Ad'uscable Rate Note to LUC I E C~llNTY ~the "L.ender") of the same date (the "Noce") and oovering the property dcscribed in the Security Instrument and located at: 368 Barraclough Street, Fort Pierce, Florida 33450 ( Property Addrsss ) TM Not~ contains provisio~s aibwi~g for chanqM in !h~ int~nat nt~. M th~ int~rat rat~ incr~~, th~ BorrowK's monMl~? p~rirMnH wiU b~ hi~hsr. If th~ Int~rut rat~ d~cnas~s~ th~ 8orrow~r's montMf? Wym~nh wiN b~ IowK. ~ AnnrrtoN~u. CovEN~rrrs. In addition to the oovenant and agreements made in the Security lnstrument, Borcower aad Ltnder further oovenant and agree as follows: A. INTEREST RATE MID MOIWTHLY PAYMENT CHANGES The Note provides for an initial interest rate of ......~.~.:5........~. Section 4 of the Note provides for changes in the interest rate and the monthly pay ments, as follows: 4. lNlEREST RAlE AND MONTHLY PAYMENT CHANGES ( A ) Change DAtes . The interest rate I will pay may change on the .......~.5 t day of .........Au.~us.t._....._... , ~ q. 86.~ and on that day of the month every .......36 months thereafter. Each dace on which my interest rate voutd chan~e = is called a "Change Date." ( B ) The Iadex Be~inning with the first Change Date, my interest rate will be based on an "Index." The Index is the weekly ~ average yield on United Staces Treasury securicies adjusted to a conscant maturity of TH RE E years, as made i available by the Federal Reserve Board. The most recent Index figure available as of 45 days before each Change Date is called the "Current Index." If the Indez is no longer available, the Note Holder will choose a new index which is based upon oomparable ~ information. The Note Holder wiil give me notice of its choice. ~ (C) Calculatioo of C6anges i Before each Change Date, the Note Holder will calculate my new interest rate by adding TWO ~ ~ percentage points :~...........Rb) to the Current Index. The sum will be my new ; interest rate. ~ i T'he Note Holder will then determine the amount of the monthly payment that would be sufficient to repay in full k the rinci al I am ex cted to owe on the Chan e Date in substantiall e uat a ments b the maturit date at m i P p ~ g Y 9 P Y Y Y Y E new interest rate. The result of this calculation will be the new amount of my monthiy payment. ~ (D) E~ective Date of Changes ; My new interest rate witt beoome ef~ective on each Change Date. I will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change Date until the amount of my monthly ~ payment changes again. • " ( E ) Notite ot Chnnges € ~ The Note Holder will mail or deliver to me a notice before each Change Date. The notice wiil advise me of: ~ ( i) the new interest rate on my loan as of the Change Date; ~ ( ii ) the amount of my monthly payment following the Change Date; ~ ( iii ) any additional matters which the Note Holder is required to disclose; and ~ ~ (iv} the tide and telephone number of a person who will answer any question I may have regarding the notice. k - e B. CHARGES; LIENS ; a ~ Uniform Covenant 4 of the Security Instrument is amended to read as follows: ~ ~ 4. Charges; Liens. Borrower shall pay all taxes, assessments, and other charges, fines and impositions attributablt to the Property which may attain a priority over this Security Instrument, and leasehold payments or ground rents, if any, in the manner provided under paragraph 2 hereof ar, if not paid in such manner, by Borrower making payment. when due, direcdy to the payee thereof. Borrower shall prompdy furnish to Lender all notices of amounts due under ~ this pa~agraph, and in the event Borrower shall make payment directly, Borrower shall promptly furnish to Lender ~ receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument; however, Borrower shall not be required to discharge any such lien so long as Borrower. ( a) shall agree in writing to the payment of the obligation secured by such lien in a manner acceptable to Lender: ( b) shall in good ~ ; 6ENERAI FORM-FNLMC UNIFORM ADIUSTABIE RATE LOAN-cTREASURII INOEJO-3i83 ~ 1N941 SAF Srstems and Forms BOOK ~O~ PdGE s~"t~ ~ ~ w~~ a z~-.~ ~ ~ ~ ~ .