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~ GRADUATED PAYMENT RIDER
' • (Intere~t Rate Limit and Payment C~sp) '
THIS GRADUATED PAYMEIVT RIDER ia made this ......1~..... day o1' .........A~il ~
19... 84, aad is iacorporatai into and shaU be doaaed to ameAd and suppkinent the Mort6age, Deed of Trust, or Dad to
Socure Dcbt (the "Security Instnunent") of the ~RS~A'T FIi~IANCIAI.~F~ERAi,~ ••Horrower") to aecure HorroMer's
Graduatod Payment Note to
(the "I.ender") of tbe aame date (the "Note") aad ooveriag the
property describ~d in the Security Instrument and located at:
. 1017 Mantilla Avenue~.,.Port.. St.:., Lucie~„Florida , 33453
[A?operty ~?ddress)
Th~ Not~ ~ontains provisions allowin~ for dwe~s in th~ int~~t raN ~v~ry y~a~
wbj~ to th~ Iin~H sfol~d ie th~ Not~.
Th~ doROw~t's a~on~hly payni~~t will incnas~ br 7~% ~ach y~ar durin~ th~ Ant
fhn~ y~a~s of +h~ Noh. Th~ ~+ainin~ monthly paY~Ms also ~artd incnas~ or
d~cnas~, d~p~ndln~ on choe~s i~ th~ int~nsf roh. Th~ dorrowK also nwy b~ abi~ to
Ii~M sonthly po~na~nt intnos~s +0 7~96 ~ach y~ar. -
Th~ prindpal a~ouM th~ don~ow~r must npor w~li b~ la~ than th~ a+nount ori~inally
bonow~d, bvl not ~nor~ Mwn 1 Z396 of #h~ ai~inol anaunt.
Annmow?~. CbvBtvr?M's. In addicion ta che caveoants and agn~ements made in thc Security Insrroma,t, Bomo~ver
and I.ender further ooveoaat aad agine as folbw~s: -
A. TNITEREST RATE AND MONT~~.Y PAYMENT CHANGES
The Note providea for an initial interest rate of13 :OQO.........%. Soctions 2 tluough 7 of the Note pmvide for changes in
the intenst nie and tht monlblY P~Y~~s, as follows:
µZ. fi~L{9Ri'~?7i ~
~ tA) Lt~rat Owed
Interest will be chugod on that p~rt of principal whicL has not beca paid~ beginning on the date I reaive principai
and continuiag until the full amount of principat ha4 beea p~id.
Bcginnin8 on the date I raxive principal, I will oae interest at a ytarly rate of 13 ;OOO,g~. ~~~t rat~ I will
PaY will change in soootdanoe with Soction 4(A) of this Note on t6e first day of ~X 19.....$~ and
oa that day evay 12th month thereafter. Each date on whic6 my interest rate oould chauge is callal an "Intenst Cbange
Datc."
B) ~e L~dei
Beginning with the first Interest Chauge Dat~ my interesi rate will b~ baSOd on aa Index. The "Index" is the weelcly
average yield on Unitod States Treasury securities adjustod to a constant maturity of 1 year, as made available by the
Federal Reserve Bomrd. The mo~t raxat Index 5gure available as of the date 4S days before each Interest Cl~ange Date is -
called ibe "Gbrnnt Indtx."
If the Indea ia no longer availsble, the Note Holder will chooBe a new index which is basod upon comparable
information.lLe Note Holder will give me notice of this choice.
(G~ Iaterest At~ter Detaalt
The rate of inttrat required by thia Section 2 and Socrion 4(A) below is the rate I will pay both be!'ore and aRer any
detault describod in Saciion 10 (B) below.
3. TIME AND PLACE OF PAY'MLNI'S
I will pay principal and interest by m~lcing payments ~very month. My moat6ly payments will be apptied to intenxt
before principal. .
I will malce my monthlY P~Y~ts on the first day ofeaeh month beginning on Jung 19...~.4..
I will make these payments every month untit I Lave paid alt the principal and interest and any other charges described
bclow that I may owe undtr this Note. If. ~Y...1 ~ 20...14 I still owe amounts wider thia Note, I
will pay those amounts in ful) ~ that date, which ia called the "matwity date."
I will malce my montlily paymmts at . LINCOLN SERVICE CORPORATION.~..,1100„ Walnut ..Street?,,,:.,.,,...
......................................................................P . .Box 989 ~...Owensboro~.. KentuckY..... 42 302-0989...
or at a differeat placc if nquirod by tbe Note Holder. .
4. INPEREST RATE CHANGES AND FULL PAYMENT AMOUNT
(A) C'ak~4tiw of New I,~tere~t Rste a~ed Fnll Pa~nt Amont
Each of my fust 36 monthly paymeats could be kss than a Full Payment Amount. A"Full Paymeat A~nounY' is the
monthly amount su~cient to repay the amount I originally borrowed, or the unpaid princip~al b~alana of my-toan as of an
Intereat Change Date, in full on the maturity date at the intereat rate I am requirod to pay by Secxion 2 above or this Soctioa
4(A) in substantisllp a~ual paymenta. Begianina on the date of this Note, my rust Futl Payment Amonat will be U.S.
5.........448 . O 1 unW the 6rst Interest Change Date. *03 / 100
8efore esch Intmest Change Date, t6e Note Holda will ddermine a ne~+ Pull Paymeai Amount for my loaa. The :
Note Holder aill fust cxlcufate my new incerest rate by sdding ...~:~!Q.. Per~tage Points (..~...4~.......%) w the ~
Current Iadex. The Note HoWer ~vill then round ttHe rault of this addition to the na~reat ono-aghth of one peraatage `
;
point (0.125%). Subject w the Wnit stated bebw in this Soction 4(A), this rounded amount will be my new intueat rete . . t~
anW t6e aext Interai Gbange Date. The Note Holder wiU thea detamine the amount of the moathly paymeat that wauld ~ ~
be suffieia~t to repsy the unp~id princ:ip~al b~alsnc~e of my la~n that I am ea~pxted w owe oa the Intereat Chsnge Date in fuU i
GRADUAT~ /AYMB~lT R~dt-~-rLAN A-1-t-.~ F B~ 7~?v PAGE ~2 ~
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