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HomeMy WebLinkAbout0922 . . .~J2 ADJUSTABLE RATE RIDER rtiis ~n~~~~rr~ii~_t: K,~rF KinE:K ~hi~ ..28.th... da~ ~,f ...........OctobB~ ly....83, and ~n~~;~~x?ral~Yi uit~• and .h.~ll tx d~tim~~l tu ~mend and ~uppl~mrnl ihr Morlgagc. Dc.~rc1 uf Trust. ~ir IhtiYi i~~ Sctiurr Drh~ (~hr "Sccuri~~ In.~rumrn~"1 uf ~hr a:wmr dat~ gi~~n by thr undrr.ignrci (thc "&~rruwrr") t~? .stiure I3~~rrowcr'~ Adiu.~ahle Ra~c N~,~r i~, ....F~1~S.T..UNIi3~iv..SdYINGS..AND..LO~AN..ASSOCI0Ti0N,..b14~~Dela~rare~~Avenue~...... Fort...~~~x~.~...Florida....33454 (thr "Lrndrr") uf ih~ .amr datr I~hr "Notr") and ro~~ering the ~m~xr~~~ ~f~,rntkYl in th~ J~~.urity In.~rum~n~ and I~kat~Yi a~: 3Q7 Preston Court, Fort Pierce, Florida 33450 . . (Properly Address) The Note conteins provisions ollowing for changes in the interesf ~ate every S years. If the interest ~afe increases, the Bor~ower's monfhly payments will be higher. if the interest rafe decreases, tha °arrawer's monthly payments will be lower. :~u1~f~IC?~ ~1. Cu~ F:~ ~~t~. In a~1~lit~on 1~, Ihc c~»enants and agr«ment~ mad~ in the Srcurit~ lnstrumrnt. Bi~rm~~rr an~i Lrnd~r turthrr ru~rnant ancl agr~c a~ ii~ll~~~?~: A, I~iTERFST RATF A~iD ~lOtiTI~I.Y PAY11E!\T CNANGES ~ ~Th~ N~~te pro~ idcy ~~~r an ~nilial inl~rc~t rat< <~f 1..3.1.ZS........~i . Settii~n -3 t~f th~ N~ri~ rruvid~'x fi~r ~hangcy in the inlerc~t ~ ra~~ and thr m~?nthl~ ra} m~nt~, as li~lt~~~~.: ••4. I\TERI~:ST RATF A\U \f0\TH1.1' PAY~IE\T ('NA\GES (A) ('han~;e i)ates ~ - Thr rate ~,t~in~ercyt 1~~ill ra~ m:i~ ~hange ~~n th~ tirst ~fa~ ~~f .............I!IOX~AIb~'...._....-•---•. 19..88..._.... and on that ~i,i~ ~~er~' bbth munth thir~:dirr f:arh ~t.it<<~n ~vhirh m~' r:ttr uf interc~t ruuld rhange ix~allyd .i "Change Datr... tBl Thc Indcx Au~~ ~hangc~ in m~ ratr ~~f ~nl~re~t ill tk ba~~d ~,n ~hang~> in the lnd~ Th~ "InJr~" is the wrekl~~ average yield on l'nit~d Statcy Trca~ur~ .itiuritic~ adju~t«l t~~ a r~~n~lant maturit~ ~~f 5~~~ar~. a~ madr availabte b~~ thr Federal Rc~en•e , Bo.ird. Thr m~,.t r~-~~ntl~ :~~ailahlr Indr~ li~,ure a~ ul~ thr da1~ ~i5 da~~ hrti,rc ~c?rh Change Datr is ralled the "Current 1 ndr~... It~ thr In~1~~ i~ n~~ IunR~r a~ailablr. ~hr N~~te Holdrr will nc~x~~~ nr~c indrx ~?hirh ~s hasrd u~x~n a~ntparablc inti~rman~,n. Th~ ?~~~te N~~Id~r ~~ill gi~e mc n~~tir~ ofth~~ch~?ire. IC? ('alculation of ChanRes ~ 13efi~r< <arh Changr Date. thc I\i~te Holdrr ~~-ill r:~lculate m~ nr~~ rate of intrrc~t b~~ addinQ~.e .and 9~age ' ~i,~„~. ~.....~...9....~~ ~<<, ~t~~ Currenl Ind~x. The tiut~ H~~Idrr ~ciU then r~,und the r~sult ~~f this additiun t~~ the nearc~t one- righth ~~I~~~n~ ~xrcrntage ~x,int (Q 1_'~r: l. I~his mundcd am~~unt ~~ill tk m~ new ratc ~~f intrrc~.i until the next Change Date. I Th~ Ni~tr H~~Ider ~~ill thcn d~term~ne thr amount ~~t thr mi~nlhh p.i~~mrnt that wottld be suflirient to repa~• the un~aid ~rinriral halanrr ~?t~ m~ li~:u~ a~ ~~f a Ch,u~ge Datr in full ~m thr maturit}~ date .it m}~ new rate ~~f interc~t in suh.t.inli.~ll~ ~yu.il mrntti Th~ rc~ult ~~f t1?i. ~.~kutati~~n ill tk thr n~~~ am~nu~l ~,t m}~ m~,nthh~ pa~~ment. IDl Effectivc Uatc of Chan}~es Vt~ nr~~ rate i,f inl~rr~t ~~ill tkr~~me ~tTrrti~r ~m ra~h Changr I)at~_ I~~ill r.i~ th~ nr~?~ amc,unt of m~• m~~nthl~~ ~a~m~nt carh nu~nth Fk~,inning un th~ tirtit mi~nthl~ pa~mrnt dat~ atirr th~ Changc [).?t~ until thc am~,unt ~~f m~~ manthly. ra~ mrnt chang~s again. ~ tE? \oticc of ChanKes € 'Th~ tiutr H~~Id~r ~~ill mail „r d~li~er to me a n~~ticc ~~t am rhang~> in th~ :im~~unt ~~t~m~~ munthl~~ ra~'ment t~efi~r~ the ~tTrrti~~ datr ~~I .u~~ rh.ingr. 1 i~~ n~~ticr ~~ill inrli~dc inti~rmati~~n reyuirrd h~ la~c to tx gi~en me and .ilso the title and s t~lcPh~~nr numhrr ~?t~a ~xrx~n ~~h~~ ~cill anti~~cr am yue~tii~n 1 ma~ ha~r rrgarding thr n~,tir~... ~ E3. CH.4RGI~:S; I.IE\S i ~ ~'nit~~rnt C~,~inant 4~~f thr Securit~ In~trumrnt i. amrndrel t~, re:id a~ f~,ll~~~~.: ~ 4. CharKes: I.iens. B~,rr~,~~~r tihall ra~ all tax«. ati.«.mrnt~. and ~,ther rhargr.. fin~~ .ind im~x,sitiuns atlributable tci the ~ 1'n,~rt~ ~shirh ma~ attain a rrii,rit~ a~rr thi~ ~rurity In.trumrnt. and Ir.i~rhold ra~'mrnts ar grc~und rents. if an}'. in the mannrr ~ru~ idrel un~~r ~aragrarh 2 hereof e,r. if not raid in ~urh manner. b~ i3ormH~er making payment. w hen due. dir~tith t~~ thr ~a}~ee there~~C F3~~rmw~r ~hall rrom~tly~ furnish 1~~ L~ndrr all n~~tirrs of amounts due under this paragraph, and in thr e~~nt B~~rrc~~~rr ~hall makr pa~~mem dir~~tly~, t3~~rr~~w~er tihall pmmrtly~ furnish to LenJer rcYeiptti e~~idencing ~ wrh ha}m~nl~. B~~rri,~c~r thall rrumptly di~rhargr am lien whi~h h~s rri~~rit~' over thi~ Securit}~ Inst;ument: pro~~ided. that B~~rr.~~c~r ~hafl n~~t he reyuired to ditich.irge an~~ ~uch lirn long a. [3orma~er: ~hall agree in w~riting to the ~a~mcnt uf the ~?hligatiun .erurrd b~ ~uch lien in a manner arre~t:~hle t~~ Lrnder. (bl ~hall in gaxi f~ith contc~t wch lien b~. ~~r d~fend cig;iimt enii~rrrment ~~I'~uch lien in, legal ~rcxeedings whirh m thr ~?p~nic~n of Lender ~•pcrate to prr~~ent Ihe rnf~~rc~ment ~~f thc li~n ~?r ti~rfeit~re i~f the Pn?~xrt~ ~~r an~• rarl thrre~?f: or 1r) ~h:~ll utiure from the holder c~f wrh lien an agre~ment in a farm sati~fart~~ry t~~ Lrnder suM~rdinating such lien Ihis Srcurity In~trument. U LenJer dctrnninc~ thal all i,r an~ ~art of ~hr I'r<~~rt}~ i~ subjcrt t~, a lien w~hirh ma}~ attain a rri~~ril} ~~~~er this Security In.trumrn~. L~ndrr ~hall ~end B~?rn?wrr n~~tice idrmifying tiurh lirn. &~rmwer shall wtisf~~ surh lien ~~r takr c~ne or more c~f th~ arti~m~ ~ct ti~rth aM,~c ithin trn da}, c~f thr gi~ ing c~f n~~ticr. C. \UT[CE l%n~li~rm C~~~~nan! IJ ~~f thr S~cunt~ In~trumcnt amcndrd read ati f~~llu~~~: = 14. \otiee. E:xcr~~ f~~r an~ ni~lice reyu~red u~ider :~rplirablr la~c t~~ tx g~~cn in :~ne~thrr manncr, (a) ~ny notice lo ~ R~,rr~?~~er rn,~ided I'~~r in thi. Srrurit~~ Intitrumrnt tihall tk gi~rn b~~ deli~rring it ~?r by mailing i1 by fir.1 clac~ mail { add~r~.r~ t~~ 13~~rr~~~~er :i1 thr Pmrrrt~ Addre~~ ~~r at wrh ~?ther addre~ti a~ I3orrciwer may~ d~~+ignate by n~~tire 1~ Lrndcr as 1;R PLAN 6 RIDER-single Family-9 82-FNMA Uniform Inst~ument g~ PA~ ~ i . . .