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, I.EXIc3LE 7ERM - i.D~USTA~LE r^~ATE LOAN RIDL"A
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NOTICE: THE SECURITY INSTRUMENT SECURES A NOTE WNICH CONTAINS A PROVISION ALLOWING
4 FQR CNANG~S (INCREASES 4R OECREASES? IN THE lNTEREST RA7E ON THE FIRST tNTEREST RATE
';,CHANGE DATE AND EVERY SIX MONTHS THEREAFTER AND FOR CHANGES (lNCREASES OR DE•
;~,i '•~CREASES) IN TNE TERM OF THE LOAN.
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r,''. ~ This Rider t: ri~ade' thit 5~ day o~ 7u~y . 19 84 ind is Incorporsted Into ~nd
~,~at~ be dremed to amend and tupptement the MortgaQa, Decd of Trust, or Oeed to Sacure Debt (ths "Security
In trument")'of the s e date p~ven by ihe urxier:;pned ithe "BoROwer") to tecure 8or~ower': Note ta
; • St~N BANIC OF ST. IE COi3t~TI'Y (the "L~nder") of the same date (the "Note") and coverinfl th!
prop~rty describrd in he Security Instrument End lacated st ~400 S. Ocean Drive. Catam~ran II,
#7653, Fort Pierc~e, Elorida 33450 (Property Addrrss) •
Modifications. tn' oddition to the co?renanu and aprsrmenb mada tn the S~~curity Instr~ment, Borrower .
and l.e~dtr lurther covenant and aflree as toltows:
, INTEREST AATE, FIXED MONTHLY PAYRiENTS At~1D ADJUSTMENTS IN LOAN TERM
The Nott has an "lnitia! Inte-est Rate" of 13F~~~rv. ~he1t~~Le.inicrest r~;e may be incr~~s^d or de~r~ased .
; on the ~_t day of the month be~~+nning on - ~ ti 5,~, ~ and on tt~st day oi ihe month
; every ~ months thereafter.
` Chan ~s in tt~e interest rate are ~ ? .
g_ governPd by chang:s in tn inter~st r: te index c,:lled the "Index" ~vhich is: the
n:onthly 4~eraye of U.S. Trcesury Bilts with e maturity of six (6? m~nths, as published in the Federal Reserva -
Bulfetin, -
During the term of th~ laan the interest rate cannot be incr~~;ed or d~creased by more ihan 3.50
cents3e points a5ove or below the initial interesi rate. ' •
If the interest rvte chang~s, the amo~~nt of Borrovsrer's monthly p~yme~7is Yrill rem,:in constant but the term
of the loan v:if( ch~nge. (ncreases in the interest ra.e may, tt~erefore, re~utt in a tong~r Ican term. Decreases in the
interest rate may, theretore, result in a shorter laan term. Under no circurrzstances will tt~~z term of tF~e loan be less
than g years or g-e3;er than 25 years.
LOAN CHAAGES
tt cauld he that ihe Sc-~n ~_;cur~d by the Sc~urity (ns,rument is ~ubje~.i to a la.v which ssts m~ximurn laan
ehar~es an~ that !aw is interpre:ed so tFat the inierett or ot5~r lo3n charg~s cotfect~~ or to b~ eoflected in con-
nect~on with the Ican H~ould exceed pesmitted Simits. tf this is the case, then: (Aj ary such loan charc,e s5atl be +
reduced by ihe amount ne~ ssary to reciuce that cher~ to ihe permitted limit; and (8) any sums atready coti~cted
from Bor~owe~ w-h.ich exceeded permifled limits wilt be refunded to Borrower, Le~der may c`~wse to make this
re!und by eithtr reducing the principal ow~d under the (Vote or by making a direct p2ymznt to Borroiti~er, ,
PRfOR LIENS
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ti Le~der determines that afl or ony part of the :u~-~s sec~rad by this S^curity !ns!rument nre s:,b;ect to a `
t+en vvhich has priority over this Sscurity Ins;rument, Lender may ~snd Borrovr7r a not~ce ide~tifyi~g that lien. '
Borrow•er sha!( promptly act w+ih re~rd to that lien ts provided in para~raph 4 of the Securiiy Instrument or F
shall promptly sA~ure an ~~;eement in a tarm satis!act~ry to Le~der subordinstin~ tF~at tien to this SECUrity
lns;rument. -
TR.4~SFER OF THE PROPERTY
!t ihe;e is a t~ar.5`er of the Property subjtct to para~taph 17 of the Sc~urity fns;rument, Len~er may re~u+re
an increase in the current ~Jote interest ra;e as a condition of Le~der's w~~v~~g the op:;on te scce'rrate prov;ded in
patby~aph ~ J.
Sy s~g~ing this, Borrewer a3-ees to a!I ot the a5ove.
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F'RF~ I,EHMAN 5 ~ r r•~ er
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7•~~: o PATRICIA S. I,g~ - G ~ rr c~ wer
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~ ?0`~437 9~4
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