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ADOSNDUK N0. 1 TO t~AD~1ATSD PAY!!8N'T ~ATB RIDBR
i . ~ (MITH INTBRB&T RAT6 ClIANCBS BVBIt~ S YEARS)
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?ha folloviag provi~ioa ie hereby iacorporated and otheYVi~e ~ade
a p~rt of that certaia Cradw~ed ~ay~snt ltider (vith iaterest rate .
~heng~~ evory S yeare) of the ~ date given by the underaigaed~ ~
(the "Borrower~~o secure BorroMrar'a Graduated Paysent Note . •
(rith intere$t rate chunges every S yeare):
(C) INCREASBS IN UNYAII? PRINCIPAL BALA?~CE TO BE SECURED. ~
~ Borrower and Lender recognize that because o~ the operation and
effect of the provisions of ~~ctions b, 6 and 8 of the Note as
set fort~? in Sectiona 4, S, 6 and 8 of this Rider (the "Interest -
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~ Capitalization Provisions"), the unpaid principal balance of the
= loan evidenced by the Note may exceed ~he cz~ginal indebtedness
~ of $ 50,300.00 referred to on page one of the Security In- .
s . . '
~ strument. BorroWer and Lender agree that tbis Security Instrument
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is iven ~ot onl to secure the a
Y: g y p.yaent of the original iadebtedness
F .
~ evidenced by the Note and the other matters referred to oa page one of _
3. '
~ the Security Ine*_rument, but also to secure any increases in such
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_ principal balance arising by the effect of the Interest Capitalization
i Px_~visions. Borrover and Lender agree that the sums which become outstanding
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unpaid and owing because of the effect of the Interest Capitalization Pro-
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visions and become a part of the unpaid principal balance are in effect and. -
are deemed to be future advances of principal from Lender to Borrawer and :
as such are secured b~ the lien of the Security Iastrument as ~f such sums
were advanced from Lender to Borrower on the date of the execution hereof. -
f At no tic~e shall Che total outstanding unpaid principal balance'of the loan ~
.exceed 125X of the original principal amount af the Note. It is the in-
tent of the~BorraWer and Lender that the sums vhich become outstanding, unpaid
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_ and owing because of the effect of the Interest Capitalization Provisions
- are deemed to be "future advances" as provided in Section 697.04, Florida
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~ri &tatutes (1981) and be and are secured by the lien of the~Security Instru-
ment as of-the date of the execution hereof as set fortb in such statute.
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~ ~ . 6425Q6 ~
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. t984 fF.6 -8 AN 9~ 37 S~n~.~
«~EO ~h[ ;.o~:'t : M. JO rroWer -
SI.LUC~f CC' t.~.
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Clt Rit CIRCIIt( fC ~r~' ' (SEAL) .
:.:•,~i.;.r,,: a~r~~ r . DI%IE L. JORG Borrower •
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