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IIQ~TIIr~ R111E ~1DER .
THIS ADJt1STABlE RATE RIOER is nds thi~ 2~_ dhr of Jat'iusrrv 19~~~ and i~ incorporated
into and ahall be dse~sd to a~snd ~nd supple~?t tM Mortq~ge~ 0~ed ot Trust. or Oesd to Securs Dsb! (tM
"Security Instsu~snt") of ths sa~s d~te qiwn bp the undseaignsd (tAs "8orroMSr") to ~ecurs 9orcorsr'• IW3ust~ble
Rate Note to CITIZENS F'EOERAL SAVINGS MD lMN ASSOCIATION ff ST. IICIE COl~lri (ths "lendsr") of ths sa¦s d~ts
(ths "Nots") ~rd cov~rirg Ehs propsrty dsscribed in ths Sscuritr Instru~s~d and loc~ted at:
218 S.W. F.ssex Driv~e, Port St. Lucie, Florida 33452 .
cProperty Add~ress)
1!~ NaRa oont~irr proiriaioar ~llaMi~ t~e dw~s in th i~rwt s~R~. If th~ int~t s~Ra
L~~, tlr Bers~wNe's ~ w~RAly pa~Rs Mill ~ hi~Ne. I~ tlr iaR~eMt rab ice+~, tM
8oe'e+oiwe'~ rnthlr ~nRs ~dll b~ lp~r.
ADDITIONAL COYENANTS. In addition to the covenants and egreewe~ts ~ads in the Sscurity Instru~ent, 8orroMSr
end Lender further cove~ant and egree as follares
' A. DIIEEST RATE NO lAIi1LY PAYlENT CIYY~S
Ths Note p~ovides for an initial intereet rate oF 9•75 x. Section 4 of the Note pcovides for changes in tM
interest rats and ths ~onthly paywents, as follo++s:
~ IIf1E~ST RATE ND lOIi1LY PAYlOiT QW~S
(A) C1wyt D~R~s
The interest rate I Mill pay ~ar change on the 1St day of ~2br13dry , 19 85 , and on that dsr of
the ~onth every Z41~LVE ~ths thereafter. Each dete an Mhich ~y interast rate could charxp is called'a
"Charge Date." ~ -
~a) rn. Ind~oc .
8egiming Mith the firet Charx~e Date, ~y intereat rate tidll be baeed on an "Index." The Index is the FEDERAL
FIQE LOIW BANC ff ATUWTA's Advance Rate for Q~ year advances. Tha wst recent Index figura available es of
45 daya before each Change Date is called the "Current Index."
If the Index is no longer available, the Note Holder will chooee a ne~r index which is based upan co~parable
infor~etion. The Note Holder will give ~e notfce of its choice.
(C) Cal~aiLtian of QrqM
~ Before each Change Date, tFie Note Nolder aill calculate ~y new interest rate by adding ZTl1p AI~ I~3/100-----
k; - percentege points ( 2.00 X) to the Current Index. The s~w Mill be ~y neM
~ interest rate.
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~ The Note Holder will then deter~ine the aiwunt of the ~onthly pay~ent thiet would be eufficieot to repay in
full the principal I a~ expected to o~+e on the Change Dete in s~atantially equal pay~ents b~r the ~eturity date
~ at ~y new interest rate. The reault of this calculation ++ill be the ne~e aiwunt of ry ~onthly pey~ent.
(D) Eftsetiw D~ts of Cl~angs~ '
My ne~+ interest rate Mill beca+e effective on each Charge Dste. I viill pay the ~ax~t of ~y new ~onthly
pa~rwent beginning an the first sonthly pay~ent date after the Charge Date until the a~ant of ~y wonthly payoent
chargee agai~.
(E) Natice of Clw~s
The Note Holder rdll wail or deliver to ee a notice before each Change Date. The notice r~i21 advise ~e of:
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(i) the nen interest rete on ay loen as of the Chenge Date;
(ii) the a~o~x~t of wy wonthly pey~ent follaring the Change Date;
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( (iii) ~y additional ~etters ahich tfie Note Holdar ia required Eo disclose; and
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~ (iv) the title and telephone nu~ber of a person Nho ~rill arener any question I~ay heve regarding the .
notice.
~ 8. 4MRff5= LIQ6
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~ Unifor~ Covenant 4 of the Security Instru~ent is a~ended to read sa folloMe:
~ Cl~gss; Lierr. Borrower ahall pey all taxes, asaess~ents, erd other charges, fi~es and iapositions
~ attributable to the Property whicfi ssy attain a priority over this Securltr Inetru¦ent, and leseehold pey~ents or
~ 951
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