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Home My WebLink About0945 - ~A_ . . _ ~ , ' : . j, _ ~.t . . . ' _ . . { ..J- . _ . ' ' 't _ ~~-s• . .-r.~~~„~.w..v~~Y~~ wxt ~mn•.. .~.a.+~ ~ • ~ ~ a~t lo~a t~t 1 aa+ eupectcd to awe oo ~be lo~etat Clwy~a D~te in fWl aa the m~turiy~ds e~ a~? ae v~ieiterat rate ia subqanti~lh? eywi P+ya~ents. Tl~e oaalt otthis akubtia+ is m~r i?cw PuU Paya~ent Amou~r~. ~ Bacb ~~ew iaterat rate wiU beoome cl~ctive oa dich [nterc~t Cha~e D~te. aad ach new Full Paymeat Amount witl become elrective on the Snt moathly p~ymeat dste after the latuat Cha~e Date. - l0) Rewlrri I7W1 Pay~t A~o~t 1 will pR,r tbe F~11 Paymrnt Amouat s~ my irwnthly pa~ymrnt be~inninj with my 61~ rnoathly pi?Ya~ent unk~ t cboae to timit tbe smount of my monthty payaxatas permitted by Soctioa 6(A) bebM. S. GftADUAT$D 11lONTHI.Y PAYMI~N7~ 1-66 ~ ~ My flnt 12 taonthlY t~Ymeats MiU cach be in tbe amount oiU.S. f.........47~ 1~R~ Ou ach ol' the Bnt four aaaiversaria of the date my 6n1 montblY paYm~ent is due. I will beg?n paying a new morUhlY paYmtnt which wilf be oqual to the amount 1;~vc bcea paYia,g multiplied by tbe nwnber 1.075. 1 will pay the r~ew anwuat of my moni~~ly po~yme~1 w~til it changes iA aocorcl~?nce with thu Soction S or Soctions 6 or ~ bebw. . 6~. HORROWER'S. RIGHT TO LIMIT AMOUM' OF REMAINING MONTHLY PAYMBNTS (aU (~?krbtio~ ot 4~nwiwt~i Morti~? P~q~~at Awo~ut t m~y cboose to limit the amouat of my ~xw monthly payment tdbwing an Interest Charige Date ii my new inter~! rute would cause the monthly p~yment 1 hs~vs boen psying to inc~ease by ~ote than stven and one-half percent (7.596). If I cl~oose to 1Golt t~e aoow~t ot sy ~t~ly psywa~E; I uw~t g~~e t~e Note Hotder aotioe tl~t I sw doiu~ so at lea~t ls d~ys betore yr &d ~ew awotrly Mys~eqt is dre. Wlien I do so. on the 6rst monthlY paymeat date aRe~ the lntcrest Change ~ Date I wiU begin paying a new rnonthiy payment which wiU be equal to the amount I have baen paying each month for the preading twelve months multipliod by the number 1.075. Thereafter. on each of the first four anaiversaries of ~he new monthly p~ya~ent datt, my monthly paymrnt will again increase by an amount oqual to the amount I have b~en paying each month for the preceding twelve months multipliod by the number 1.075. Era~ U I la~e cbwscn to Itwit ayr vontbly paYa~t, Satioes 6(B), 6(C? and 7 betow a~ay nquire ~e to pa~y a dilfa~t a~o~~~ . (B) R~d.ced Mo.trly Psy~aeat Aa~owtt ~ • - My grsduatod monthly paymrnt cakulatod under Soction 6(A) above could be greater that~ the amount of a monthly payment which then ~vould be sufficient to ropay my unpaid principal balance in full on the maturity date at my current ~ iatereat ate in substantially equal.paymrnts. If so, on the date my paying a.graduatod monthly payment would cause me to pay morc ibau the lower arraunt.l will instead then begin paying the lower amount as my monthly paymtnt until the next Interest C1~ange Date. (C~ I,era~ci Morttiip~ P~ysent Ano~ut ~ My p~ying a gradtu~ted monthly payment calculatod under Section 6(A) above coutd cause my unpaid principnl b~e to eaooed the limit statad in Scction 8(B) below: lf so, on the date thal my paying a monthly payment would cause me to excaod that Gmit, I~rill instard begin paying a new monthly payment until the next Intrrat Change Date. The new monthly paymeat will be in nn amount which would be aufficient to repay my then unpaid principal b~lancx in full on the mat~uity date at my current interest rate in subatantiallY M~ P~Y~~. 7. FINAL MONTHLY PAYMElV15 Heginning ~with the first monthly paymtnt after the Iast.Interest Change Date, I will pay the Full Fayment Amount ss my montblY WY~t. . . 8. INCREASES IN THE PRINCiPAL AMOUNT TO BE PAID . W Addidar to My UpMW Priscipal Balsnoe My monthly psyment could be ltas than the amount of the intcrest portion.of a monthly payment. ahic6 then would i be suflicient to repsy my unpaid principal balance in full on the maturity date at my current iaterest rate in substantially equal payments. If so. each montb that the amount of my.monthly payment is less than the interest portion, the Note Holder ~rill subtract the amount d my monthly paymrnt from the amount of the interest portioa and will add the ; dilFapx~e w my unp~d pcincipal balance. The Nott Holder wip also add interest on ihe amount of this diff'uen~x to my ~ unpaid principat balancx each mont6. The interest rate on the interest added to principal arill be the rate required by I Sections 2 or 4(A) abova j (B) Li~it o~ My U~paii Pri~clpl Balaoce . ~ My unp~id princip~l balanoe cau nevet eacoed a maaimum amount equal to one hundrod twentyfive perceat (12S°Yo) ~ of the principal anwuat I origioally bomoaed. _ ~ 9. NO?ICE OF CNANCES . ' Tbe Note Holder wri11 a~ail or ckliver to me a notioe of any changes in the amount of my monthly p~yment beforc the I effective daie of nny chauga.The notice wiU iaclude iaformation required by Isw to bc given me snd also the titk and ~ tekphone number of a petsan who wifl answer any question I may have regarding the notice." ~ ~ ' B. CHARGE$ LIE~S . ' Uniform Coveoant 4 of tbe Socurity Irotrument is amendod to read aa folbws: i ; 4. CLar~er I.ka~. Borrower:hall pa?y up taxes, assasments, and other charga, fines and 'unpositions attributabk w the . PropertY ~?hich nu~y sttain a priority over this Socurity Instrument, and kasehold payments c~r ground rents, Jaay. in the maaner provided under paragraph 2 bereof or, if not paid in such manner. by Horrowu makin8 PaY~~• whea due, directiy to tbe psya thereof. Borrowa ahali promptly furnish to I.ender al! notica of amounts dve under this paragraph. ' and in tbe event Borro~rer ahaU make p~yment directly, Borro~vu ahaU promptly furnish to Laida ra~apts. evidajcing ' sucb payments. Horro~rer shaU promptly dischsrae any lim which has priority rna this Security I~irumeat; providod, ' that Horrawer ~h~ll not be requirod w dischArge sny wch liea so bng ss Basrawrer: shAlf .sgroe in Mriting w the ' psymait d the obligatioa secured by wch lien in a msaner acceptsbk to I.ender, (b) shall ia good fsith c~tat such liea by, or ddend a~inu enforca~unt of wcb liea in, kg~l Praceedings which ia the opiaan of I.eada opaak a preveac ihe eaforc~ement uf tbe lien or forfeiture of tbe Propaty or sny psrt tbet~f: or (c) sbaU secwe from the bolder of such liw sn a~t in s[orm satist'actory to La3der wbo~rdiaatin~ such liea to this Security Irutrument. If I.endsr desermina tbst sU or sny part of tbe PropertY a wbjcct ta s lie~ Mbicb ansy stt~iA a pri~ity ova thi~ Securitp Imiruoxn6 I.ender ~baU saad Horrow~a notice ideatifyiaj suc6 t~ea. 8orrc~wet sbslt sstiJy wcb liea or t~lce one ~r more o( t6e actsons ~d for~ sbove ~rithin tea dsys of thepvinj of aotioe. ~ • , . ~~!3 ~ 9~4 ~ _