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AD~IUSTABLE RATE ItIDER
THIS ADlUSTABLE RA'IE RIDER a made thi: ..30TH.. dsr of AUGUST 19.. a3..,
and 'a inoorpouted inw and ahall be doee4ed a aaend and wppkmeAt the Mort~a:e, Dad of Tn~at, or Deed to
Secure Debt (tbe "Sxurity laawment") of tl~e same da~e ~iven by tl~e undeRijaed (the ••BornoMer") w socure
8orrow?~r'~ Adjustsbk Rate Note to HARBOR FEDERAL SAVING3 AND LOAN ASSOCIATION.
( the "l.eader") of the ume date ( the "Note" ) aad oovecin~ the
P~P~nY des~xibed ' the S~csrity Inawment aad located a~
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Annmo~~t. Covav~r~rrs. In additioa to the aoveaant and agrcements made in the Security Inswment, Horrower
and Lender further o~venant and a~rre as folbws: .
A. INTBitEST RA1E AND MONTHLY PAYMBNT CHANGES .
The Note provides for an-initial interest rate of ....}~.~.~y........96. Sectioa 4 of the Note provides for changes in the
intercst rate and the monthly payments, as foUows:
1. INrEREST RATE AND MONTNLY PAYMEN? CHANGES -
(A) Chaage Dates
The interat rate 1 wili pay maY3hange on the .....t ST day of ..SEPTEMBER 19 86..., and
on that day of the month every .........6 months thereaRer. Each date on which my interest rate auuld change
is called a "Change Date."
(B) 'll~e L~dei
Beginning with the first Change Date, my interest rate will be based on an "Index." The Iadex is the weekly
average yield on United States Treasury securities adjusted to a oonstaat maturity of ...SHBEE............ years, as made
available by the Federal Reserve Board. Th~ most recent lndex figure available as of 45 days before each Change
Date is called the "Current Indea."
If the lndex is no longer available, the Note Holder will choose a aew index which is based upon oomparable
information. The Note Holder will give me notice of its choice. .
(C) Calcolatioa of CLaeges . -
Before each Change Date, the Note Holder will calculate my aew interest rate by adding~~E.,ANA
...,5~4/.1.AA percentage points (....3~S~Q..........%) to the Current Indea. The sum will be my new
interest rate. ~
The Note Holder will then determine the aroount of the monthly payment that would be sufl~cient co repay in full
the principal I am expected to owe on the Chaage Date iq substanaally equal paymeats by the maturity date at my
new interest rate. The result of this calculation wilI be the new amouat of my monthly paymeat.
I' (D) Fdective Date ot C6anges
~ My new interat rate will beoome eH'ective on each Change Date. I will pay the amount of my new monthiy
~ payment beginning_ on the first monthly payment date aRer the Change Date undl the amouat of my montlily
payment changes again.
~ (E) Notice ot Chu~ges
The Note Holder will mail or deliver to me a notice before each Change Date. The aouce will advise me of:
( i) the new interest rate on my loan as of the Change Date;
( u) the amount of my monthly payment fopowing the Change Date; ~
. (iii) any additional matters which the Note Holder is r+equired to disclose; and
(iv) the tide and [elephone number of a person who will answer any question 1 may have regarding the
~ notice.
B. CHARCES; LIENS
Uniform Coveaant 4 of the Securiry Inswmeat is amended to read as follows: .
I. (~ar~es; Lkas. Borrower shall pay all taues, assessments, aad other charges, fines aad impositions attributable to
the Property which may atcain a prioriry over this ~rity Instrumeat, and leasehold payments or ground rents, if
~ any, in the manner provided under paragraph 2 hereof or, if not paid in such manner, by Bornower malting payment,
~ v?~hen due~ directly w die payee thereof. Borrower shall promptly fumish to L,endtr all notices of amounts due under
~ this pazagraph, and in the event Bornowec shall make payment dirocdy, Bornnwer shall promptiy furaish w Lender
~ roaipts evidenciag such payments. Bomower shali promptly discharge any lien which has priority over thia Securiry
~ Inswment; however, Bomower shall not be required to discharge any such lien so long as Bomower. ( a) shall agree in ~
writirig to the payment of the obligation secured by such liea in a manner acaptable to Lender, (b) shall in good ~
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~ 6ENERAL FORM-fHLMC UNIfORM ADIUSTABLE RATE lOAN-~n~?sutr NoEx~-3~a~ '
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