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Home My WebLink About0955 ~ S . ' 4 • ~ . _ _ _ - - - _ ~s ,t ~ • • PSL-3-2007 GRADUATED PAYMENT RIDER (Intenst Rat~ Limit and Payment C`ap) THIS GRADUAI'ED PAYMENT RIDER is msde this ...,13,,.,,. ~~...,.,.April,,,,,,,,,,,,,,, 19.. aad is iacorporatod into uid shall be deemed to amead aud suppkme~t the Mort$age, Deod of 3 n~at, or Deed to Socure Deb1(the "Security Instnunwt") of thGREAT FINAN~C IAI,t F~g~ ••Borro~rer") to sec~u+e Borrowu's Graduatod Paymeat Note to (the •`Laider") of the same date (the "Note") and oovering ihe Proi~Y ~ribod in the Security Iastrumeat aad located at: .................................3203. KentuckY...Ayenue.:„ Fort„Pierce.~.. Florida.....~~4~4............................................... [~P~I? Addrossl . Th~ Not~ contains provisions allowi~~ for chany~: in th~ int~nst raM ~v~ry y~ar subi~ to th~ IimN stal~d in th~ Nof~. ~ Th~ Bo~ow~~: ~~r ~r~•n~ will incnos~ by 7 lif~ 96 ~ y~o~ du~ina Nw Ant ~hn. y.o~ of th. Not~. Th~ ~ainin~ ~aonthty par~nts ot~ oovid incnas~ or d~cnos~, d~p~ndin~ on chan~s in th~ intfnst rat~. Th~ Borrow~r also nwy b~ abl~ to Iimit n~onthtr poy~M incraos~s to 7~i% ~adr r~or. ~ Th~ prindpal anwvnf th~ 6orrow~r tnust ~par wiU be lar~r fhan tl~~ amount ori~inally bon+ow~d, bu~ not mon than 1?,S% of 1h~ o~ipieol anaunt. Annmort~t. Gbv~v~tvr~ In addition to the oovenants and agraments msde in the Security Instrumwt, Borro~ver and I,ender further oovenant and agroe as follows: A. INT~REST RATE AND MONTHLY PAYMENT CHANGES . The Note provides for aa initial interest rate d.11.: 87 S.......96. Sections 2 thmug6 7 0€ the Note provide for changes in the interest rate and the monthly payments, as follows: ~2. ~ Interest Ow~d - ~ Interest will be chargod on that p~rt of principal whic6 has not bocn p~sid, beginnin8 on the date I c+a~ve princ+psl . and coatinuing uatil the full amount of principal has boen paid. Hegianing on the date I roaive principnt. I wiU owe interest at a yearly rate of .11 ;87 S~. ~~~t rate I will PaY aiU change in socordanoe with Secqon 4(A) of this Note on the 6rst da y of ~y 19... 8S. aad ~ on that day every 12th month t~ereaRer. Each date on which my ia*.erat rate conld change is callod an "Interest Change Dstc." (B) 1'ie Iodez Beginning with tbe first Interest Change Date, my interest ratc will be basod on aa Index. The "Indea~" is the wakly average yield on Unitod States Treasury socurities adjusted to a constant maturity of 1 year, as made available by the Federal Reserve Bo~rd. T6e mast roant Indeac figure available as of the date 45 days before each Interest Change Date is called the "Current Index." If the Indeas is no bnger available, the Note Holder will choose a new index which is baSOd upon comparabk informatioa. The Note Holder will pve me notioe of this choice. (G~ Lta~est Attet Defart The rate of interest roquired by this Soction Z and Sectioa 4(A) below is tbe rate I will pay both bef'ore and after any defauit describod in Soction 10 (B) beJow. 3. TIME AND PLACL OF PAYMGNTS ~ I will pay princigal and intereat by majcing payments every month. My monthly paymtnis will be appliod to interest bd'on principal. I will make my moathly PaYments on the fust day of cacb month beginning on June....................,19. 84 ~ I will make these payments every month until I have p~id all the principa! and interest and any other charges desen~bod below that I may owe under thia Note. If, on ~y ..1 ~ 20..14..., I still owe amounts under this NotG I wiU pay those amounts in fuU on that date, which ia callod the "maturity date." I will make my monthlY WYments at LINCOLN...$ERV~C~..G4~4~~~Q~,....1.I,QA . W~.n1~.~..S.kx~t. .........P .O :Box.. 989 r...Owensboro... KentuckY..... 42302-0989...................... or at a differcnt place if requirod by the Note Holder. 4. ~ RATE CHANGES AND FUI.L PAYMENT AMOUNI' (A) CalcYlaNoo of New Interat Rate and Fall Parmeat Amoa~t - Each of my 6rst 36 monWlY paymeats vonid be less thau a Full Payment Amount. A"Fiill Payment Amount" is the monthly amount su~cieat w repa~y the amount I originally borrowed, or the unp~aid principsl bstanoe of my loan as of an Interest Change Date, in full on the maturity date at the intuest rate I am nquir~ed to pay by Section 2 above or this Sectinn 4(A) in substantialtY ~ P~Yments. Beginnin8 on the date of this Not~ my firat Full Payment Amount will be U.S. 5............ 49~.:.7. ~ until the ferst Internst Change Date. *03 / 100 Bd'ore esch Interest Change DatG the Note Hvldet will determine a new FuU Payma~t Amount for my loan. The Nate Holder will Srst c~lculate my new interat rste by adding T.WO.. P~~ Points (...Z.~.R3......%) to the Gtinent Indea. The Note Hold~ w?iU tlxn round the nsult of this addirion to the nearest one-eighth of one pcrecatage point {0.12S4b). Subjoct w the Wnit stated below in thia Sxtion 4(A), thia roundod amount will be my ne~v interest rute until the aext Interest C6ange Date. The Note Hol~r will thw detexmine the amount of the montlilY payment that aoutd be su~'icirnt to rep~y the unpaid principel balance of my lo~n thst I am expectod W owe oa the Interest Chsn~e Date in full ~ $~429 PACE 954 GRADUAT~ ~AYM@1T RIDER-~LAN A-1-1-4 Fan~iyf-9~83--fNMA unii«t. iuh~ _ ~ - - - - ~ ~-~~~~~~~...~L.e_ _