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ADJUSTA6I.E RATE RiDER 23140211
TH1S ADJUSTABL@ RA1E R1DER is made thi: ..30TH. day of ...AUGUST 19...83.,
aad 'a ino~rpoated inw and shaU be daaud to a~oend aad wppkmeat the Mort~a~e. Deed of Tr~t, or Deod to
Secure Debt ( the "Security Inatrument") of the saa4e date pvea by the undeai~ned ( the "BorroMer" ) w secune
BornoMer'a Adjustabk Rate Note to HARBOR FEDERAL SAVIIVGS AND LOAN ASSOCIATION.
~ (tl~e •`Leadec") of the same date (the "Note") and ooverir~ the
property desccibcd ia cl~e Sauriry laswment and Mcated a~
...PRADO,.AVElI~ff~.,Si~~,3~,_LUC 1 E., FL. ........................................................................3345~..................................
(ProvKtr /Wdr~s)
TM Mot~ oontMni provi~ions M~i~q lor chMg~ in th~ int«wt nt~. M eM bi~nst rab
inc~aNN. tlN ~rowK'~ monM~ pa~n~nb wiN b~ hipl~. If tlw N~t~nst nt~
d~cn~s. tlM ~ow~'s monlhly p~n~nb ~rIM b~ IowK.
AnnmoN~?t. Cov~nrrts. In addition to the o~venant and a~ruments mad~ in the Securiry Inswment, Bornower ~
and Lender further oovenant and agrce as follows: .
A. INTERF.ST RA7E AND MONTHI.Y PAYMENT CHANGFS
The Note provides for an inidal interest rate of .....~.~~2§.......~i. Section 4 of the Note provides for changes in the
interest rate and the monthlY paYmeats, as Collows:
INTERES? RA?E AND lNONTHLY PAYMEN7' CXANGES .
(A) C6aoge Dates -
The interest rate 1 will pay may st~ange on the ~ ST day of November 19. 88..., and
on tdat day of the month ev~ry d~ months thereaRer. Each date on which my interest rate could change
is called a "Change Date." . ~
(8) T6e ladei -
Beginning with the first Change Date, my interest rate will be based on an "Iadex." The Index is tht weckty
average yield on United States Trcasury sccurities adjusted to a oonstant maturity of f AV~ years. as made
available by the Federal Reserve Board. The most rccent Index 6gure available as of 45 days befor~e each Chaage
Datc is called the "Curneat Indeu."
If the Indea is no longer available, the Note Holder will choose a aew index which is based upon comparable
information. The Note Holder wiU give me notice of its choice.
(C) Glculatioa of C6auges . -
Before each Change Date. the Note Holder will calculate my new interest rate by adding .~..AND,,,,,,,,_„__,.,
....~!4~~ 4Q perantage points b0.........%) to the Current Index. The sum will be my new ;
interest rate. -
The Note Holder will then determine the amount of the monthly paymen[ [hat would be suflicient to repay in full
the principal I am expected to owe on the Change Date in substantially equal payments by the maturiry date at my
new interest rate. The tesult of this calculation will be the new amount of my monthly payment.
(D) EQectjve Date of Changes ~
My new interest rate will beoome e6ective 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
'I payment changes again.
~ (E) Notke of Chu~ges
i The Note Holder will mail or deliver to me a notice before each Change Date. The notice will advise me of:
i ( i) the new interest rate on my loan as of the Change Date;
i
~ ( ii ) the amount of m monthl
~ y y payment foUowing the Change Date;
~ ,
; ( ui ) an~? additional matters which the Note Holder is required to disclose; and -
~ (iv) the title and telephone number of a person who will answer any question I may have regarding the -
~ AOUCC.
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B. CHARGES; IJENS
~ Uniform Covenant 4 of che Securiry Instrument is amended to read as fol{ows: ~
~ 4. (:harges; l.iens. Borrower shall pay all taxes, assessments, and other charges. fines and imposiaons attributable to
the Property which may attain a priority over this Security Inswment, and leasehold payments or ground nnts, if
~ any, in the manner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower malcing payment,
~ when due, dincdy co the payee cheroof. Bornower shall promptly fumish to Lender all notices of amounts due uader
: this paragragh, and in the event Borrower shall make payment dircctty, Horrower shall pmmpdy fumish to Lender
E rcaipts evidencing suc6 payments. Bocrower shall prompdy discharge any lien which has priority over this Security
~ Inswment; however, Borrower shaU not be rcquired to discharge any such lien so long as Borrower. ( a) shall agree ia .
i wridng to the payment of the obGgation secured by such lien in a manner acceptable to Lender, ( b) shall in good
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g 6ENERAI fORM-fHIMC UNIfORM ADIUSTABIE RATE LOAM-~~~r raEx~-3~s~
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