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(C) ~Calc~:'. at ion of Interest Rate Changes
8eforQ each Interest Change Date, the Note Holder will
calculate my new~. rate of interest by adding 3.055 psrcentage
points ( 3.055 to the Current Index. The Note Holder will
then row?d the result of this addition to the nearest one-eighth
of one percentage point (0.1=5:). This rounded amount will be my
new rate of interest until the next Interest Change Date.
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(D) Interest After Default
The rete of interesL required by this Section 2 is the rate
I will owe both before and after any default described in Section ~
10(B) (of the \oteJ.
3. CALCIiLATIO\ OF A.`f0U!~~'S OIiED EACH i10\TH
~ ?he Ivote Holder ~:ill calculate my Full Payment Amount
annually as set forth in Section 5. The "Full Payment Amount" is
the amount of the aonthly payment that would be sufficient to
repay the amount I originall} borrowed, or the unpaid principal
balance of my ~loan as of every other Interest Chnnge Date, in
full at the rate of interest I em required to pay by Sections
2(A) and 2(C) above in substantially equal payments on
~~1 , 20~4, which is called the "maturity date.
Beginning on the date of this Aote. my first Full Payment Amount
w•ill be L'.S. $ 519.86 until the ffrst Interest Change
Date. Before every other Interest Change Dete, the Note Holder
Will calculate the new Full Payment Amount which I will owe each
~aonth beginning on the first monthly payaient date after such
Interest Change Date.
The Full Payment Amount I owe may be more or less than the
amount I am required to pay each month. Section 5 below states
~the amount of my monthly payment and ho~? it will change.. Section
6 describes hoc. m~• unpaid principal balance will change if the
amount of my monthly payment and the Full Payment Amount are
different. -
4. TI*fE A.~A PLACE OF PAYAfE~TS
~ I will pa} principal and interest by making payments every
~ month. :!y monthly payments c:ill be applied to interest before
! principal.
~
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I~?i11 make m~ monthly payments on the first day of each
~ month beginning on ~t a . 19~¢ I will make these
paymencs every month until I have paid all the principal and
interest and any other charges described below that I may o~re -
under this ~ote. If I still owe amounts under this Note on the
maturity date. I will pay those amounts in full on that dete.
Those.amounts could be greater then the amount of my last monthly
payment before the maturity date.
AIS,?AI~ NDI~'ICC~~ O~~ANY
~ I will make my monthly paym~nts at p• 0• ~ 4130, Jacksonville,
€ Florida 32231 or at a different place if required
~ by the Note Holder. ~
~ 5. GRADUATED MONT}{LY PAYlIEh"TS
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# (A) Regular Increase. *Ig first twelve (12) monthly
~ payments c.•ill be in the amount of U.S. $ 350_O1 On 'the
first and second anniversar} of the date my first monthly peyment
• ~ is due. I will begin paying a new monthly payment which will be .
' equal to the amount I have been paying multiplied by the number
~ 1.075. unless I exercise the "~fonthl~~ Payment Freeze Option" or
E "Full Payment Option" as described in Section SEB). On the third
~ anniversary of the date my first monthly payment is due and on
~ each subsequent anniversarc dste until. but not inc~uding, the
~ twent~-ninth annicersary clate. I kill begin paying the Full
~ Yayment Aawunt unless I instead elect to pay a new monthly
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(FL) FLE~ RIDER - P~
11/83
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