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Home My WebLink About0956 - - _ - - _ _ . - - . _ ~ _ _ ~ a _ ~ = on the raaturity date at my aea i~trrest rate in substantiaUY equal payments. The nsult of this calculation is my new Full Paymeat Amount. My iutere.st ratc shall never be greater than 17 .375 ........yb. Each new interat nte will beoome e6ective oa each lnterat Clwnge Date, and each new Full Payment Amount will booome dFoctive oa the 5rat monthlY payment date aRer tbe I~terest Cbange Date. (8) Reqnired Ftill Payoest Aaaut I will pay the Full Paymrnt Amount as my monthly psyment beginniag with my 37th monthly paymrnt un{ess I - chooae to limit the amouat of my montbly payment as permitted by Soctioa 6(A) below. • S. GRADUATED MONTHLY PAYMENIS 1-36 ~ My first 12 montWY P~Y~~ will each be in the amount of U.S. 5......:.....385 . 49 On each of the first two anniversarits of the dste my Rrst monthly payment is due. I wiU begin paying a new aiouthly paymrnt which will be equal to the aaaount I havc barn pnying multiplied by tlu.number 1.075. 1 will pay the new amount of my monthly paymeat until it changes in aooordance with thia Section S or Sections 6 or 7 below. 6. BORROWERS RIGHT TO LIM1T AMOLJIYI' OF REMAINING MONTHLY PAYMBM'S (A) Calculst~on of Liaited Mont6ly Pay~t A~ouat Unless Sectioes 6(G~ and 6(D) below will not permit me to do so, I may choose to limit the amount of my new monthly payment fo~lowing the third and each later Intrnst Chaage Date to the amount I have paying multipGod by the number 1.075. If I c~oose to limlt tre ~et of mp soat6ly paymeat, I mnst gi~e t6e Note Ho~er ~otloe tbat I am doing so at le~ast 15 ds,~ betore my Arat rew eoabWy NYaeat is dna (B) Addidons to My U.p~l Prindpal Balance My monthly pmiymrnt oould bt Itss than the amount of the interat portioa of a monthly payment which then would be suticient to repay my unpaid principal balaace in fut! on the maturity date at my curnnt interest rate in substantially oqual paymeats. If so. e~cb moAc~ ct~c we ~ounc ot ~ny mo~cwy ~y~c ~ tas ct,~ c~ ~,censc po~c;«,, the Note Holdtr will subtract the amount of my monthly payment from the amount of the interest portion and wil! add the difference to my unpaid principal balance• The Note Hol~eer will also add interest on the amount of this differ~ence to my unp~id princip~al balance each month. The interest ratt oa the inte~st added to principal will be the rate roquired by Secpons 2 or 4(A) above. . (G~ I3etit oa Uepaid Prtocipal Balaoc~ Iacrwed Moatl~ly Psya~eat Amoant MY unpaid principal baianc~e can never exccod a maximum a~ount oqual to one hundrod twenty5ve peroent (12596) of the principal amount I originally borrowod. My paying a montWy payment calculatod under Soction 6(A) above oouW cause my unpaid principai balance to exoeod that maximum amount. If sa, on the date that mY ~Y~S a monthlY P~Y~t would cause me to ea~oeod t6at limit, I will instead begin payin8 a new monthlY payment until the neact Interest Change Date. The new monthlY p~yment will be in an amount w6ich would be sufficient to rep~y my then unpaid principal b~lance in full on the maturity dato at my current interest rate in substantiallY W~ P~Y~ents. (D) Final Moet6ly Psymeab Be8&nnin8 with the 6rst monthlY P~Y~~t after the last Change Date, I wi11 PaY t6e Full Payment Amount as my ~ monthlY P~Ym~t- ~ NOTICE OF CHANGES ~ T6e Note Holder will mail or delivec to me a aotice of any chauges in the amount of my montlily payment befon the ! effective date of any change. The notice will include information required by law to be givrn me and also the tide and f telephone number of a persoa who will answer any q~estion I may have r~garding the aotia." ~ B. CHARGES; LIENS ~ ~ Uniform Covenant 4 of the Socwity Instrument is amended w read as follows: ~ 4. C6arg~ I3eas. 8orrower sha11 pay all taxes, assessmeats, and other charges, fines and impositioas attributable to the ~ Property wWch may attain a priority over this Secwity Instrumeat, and leasehold payments or ground rents, if sny, in the ~ manner providod under paragraph 2 hereof or. if not paid in such manner. by Borrower making payment, whrn due, diroctly to the paya thereof. Borrowor s6a11 promptly furnis6 to Leader all notices of amounts due under this paragraph, . and in the ~vent Bomower shall malce paymeat directiy, Bomower shatl prompdy furnish to La?der raxipts evidencing such paymeats. Borrower shaU pmmPtlY discharge any lieu which has priority ovv thia Security Instrument; provided, tbat Borrower shaU not be requirod to discharge any such lien so long as Borrowa: (a) sl~alt agroe in writing W the Pal+meat of the obligation securod by such liea in a manner aocxptabk to I.eader; (b) shall in good faith oontest such lien by, or defex~d againat eaforc~ment of such lia~ in, legal Prooeedings which in tbe opinion of I.exider operate W prevtnt the enforoement of the lien or forfeiture of the Property or any p~art theroof; or (c) shall socur~e fmm the holder of such litn an agrameat in a form satisfactory w I.eader subordinating such lien to this Security Instrument. If I,ender determines that all or any part of the Property i~ subjoct to a lien which msy attain a priori¢y ovet this Security Instrnmeat, I,eader shaU send Borrower notice idmtifying such lien. Borrower shall satisfy such lien or take one or more of the actions set forth above within ten days of the giving of notice. `r ~ C. N01'ICE ~ Uniform Covenant 14 of the Security Instrument is amcnded to read as follows: p ~ 14. Notia. Eaoept for any notice roquirod under applirabk law to be given in another manner, (a) any notice to ' Borrower providod for in this Security Instrument shall be givea by delivaing it or by mailing it by 6rst class mail F addressod to Horrower at t6e Propcrty Address or at such otbu sddress as Borrower may designate by notice to Lender as F providod her+e~n, and (b) anY notice w Lender shall be givea by Srst class mail to Laider's address statod 6erein or to such ~ other address as Laider may designatE by notice to Bomowec as provided herein. My notice provided for in this Socurity Instrument shaU be doaned to 6ave baa given to Borrower or Leader whea given in the mannes designated herein. D. UIVIFORM STCURITY IN5TRUMENT; GOVER1vINC LAW; SEVERABILITY ~ Uniform Covenant 1S of the Security Instrument is amended w read as folbws: iS. Unitor~ Sec~rih? Imeraaea~ Co~g Lw; S~a~sbilit~. 77~ia form of Security Instrumeat uombines uniform • covenants for national use and non-uniform coveaanta wit6 limitad variatia~ by juriadiction to oonatitute a uniform ~ sacurity in4trument ooverin8 ~ P~Y. This Security Irutrume»t shall be governed by fedaal law and the law of the • GPR-PLAN A-~ 9/83 gOQ 4~ pAGE ~5~ 2 of 3 pa~es) ~