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Home My WebLink About0964 ~ 5. GRAI)UATED 11()NTHI.Y PAti'MFNTti A1y tir~t 12 munthly payments wili rarh hr in the am~~wu ul U.S. $ 418. ~4 ~ pn _ October 1 , ly 85 , and ~m the fir~t :~nni~ensry-of~that ~la~r. I~~ill h~~:in pal~i~g :i n~unthly p:~ymrnt ~~hich will tx eyual tu ihe amuunt I ha~~ tx~n pa~ing multiplied b~~ th~ numtkr 1.075. 1 Hill pa~ the new am~~unt of m~~ munthly payment until i~ change. in a~~ur~ianrc with thi, Serti~~n 5, Serti~m ~(B) ahu~e ur Se~tiun 6 or 7 below•. 6. BORROWER'S RIGHT TO LIMtT 1fOhTHLI' P~Y!11H:1T (A) Calculation of t.imited Payment Unless Sections 6(C) and 6 ID) below~ ~ill not permit me to ~iu ,o, 1 ma~~ ch~w~e to limit the amount of my new monthly payment foUowing [he third and e~rh later Interest Change Datc tu the amuunt 1 ha~•e tx.en paying multiplied by the numt~r 1.075. 'Iliis amuunt is ralled the "Limited P:~~~ment." If I choose a I.imited Payment as my monthly pay~ment. I must give the Note Holder notice that 1 am doing so at Irast 15 da~~s before my first new monthly payment is due. l6) Additions to hl~~ Unpaid Principal My monthly pa}ment could be less th:~n the amuunt uf the intere,t Ex~niun of the monthl~ payment that would t~ suffirient to repay the unpaid principal 1 owe at the monthly pa~~ment date in Cull un the mawrit~~ date at my current interest rate in substantially equa) p~yments. If so, each month th~t the am~~unt of my manthly ps~~ment is less than the interest portion, the Note Hatder w•ill tiubtr~rt the amount of m}• r~:~nthly payment from the amount of the i~~terest portion and will add the differenre to my unpaid principal. The Note Holder will als~~ add interest on the amount vf this difference to mS~ unp:~id prinripal ~ach munth. The inter~~t r~tr .~n the intere.t added t~~ principal w~ill tk: the rate required bv Section 2 or 4 lA) a~i~•e. (C) Limit on Unpaid Principal; [ncreased M1tonthl~ Payment My unpaid principal can never exceed a m~ximum amount equal tu ~me hundred tuenty-fi~~e percent (125"k) of the prinripal amount I originall}~ horrowed. My unp:~id principal could exc.ed that maximum amount if I pay a Limited Payment. If so, on the date that my paying my Limited Payment w•ould cause me to e!cceed that limit, I will instead begin paying a new monthly payment until the next Interest Change Date. The new mvnthly payment will be in an amount which v?•ould be suificient to repay m} then unpaid principal balance in full on the m:~turity date at my current interest rate in substantiall}~ equal pa~~ment~. 1 D) Final 1~lonthly Pa~•ments ~ Beginning with the first monthly p:~}•ment after the final Change Date, I w~ill pa~ the Full Payment as m}• monthl}~ payment. 7. NOTICE OF CHANGES The Note Holder will deliver ar mail to me a nutire ut an~ rhanL~s in m~ intere~t r;~te ~n~ in the amount of my monthly payment before the effective date uf any rhanke. The notice w•ilt inrlude inforn~:~tion reyuired by law to be given me and also the title and telephcme number ~~f penon who Hiil ans~•er any yue~tion 1 may have regarding the notice. B. TRA?1~SFER OF THE PROPERTI' ()R A REtiEFICIAL 1nTE REST lti B()RRON'ER Uniform Co~~enant 17 of the Secuntv Instrument is amended to resd ~s follows: Transfer of the Propert~~ or a Beneficial Interest in Borrow~er. (f all or any part of the Property or any intere~t ; in it is sold or transferred (or if a beneticial inttre~t in Borrawer is sold or transferred :uid Borrower is not a natural ` penonl without Lender's prior written consent, Lender may, at it~ option, reyuire immediate payment in full of all sums f ,tiecured b~~ this Securiq~ Instrument. Howe~•er, this nption shall not be exerrised by i.e:nder if exercise is prohibited by feder~l faw :~s of the date of this Secunty Instrument. l.ender also ~h~ll nc~t exercise this option if: Borrower rauses to be submitted to Lender informatian reyuired by L.ender to e~~:~luate the intended tr:insferee as if a r.ew~ loan,we~e being ~ made to the trantiferee: and (b) l.ender reason~bly determines that Lender's securin• w•ill not be~mpaired by the loan i ` assumption and that the ri,k of a hreach of any co~•en~nt or agrcement in this Security Inswment is acceptable to l.ender. r To the extent permitted by applirahle law , l.r nder may rharge reasonabie l~s: a~ a condition ro l,ender's consc:nt ~ ro the loan atisumption. L.ender may also reyuire the tran,feree to sign ~n assumption agreement that is acceptable to ~ L.ender and that obligates the transferee to keep all the promises and agreement~ made in the Note and in this Security ~ (nstrument. Borrawer will continue to be obligated under the Note and this Security Intitniment unless Lender relensc;s ~ Borrower in writing. ~ lf Lender exerrise. the option to reyuire immediate pa~~ment in full, [xnder shall gi~e Borrower notice of acceiera- ~ tion. The notire shall pmride a peri~xi of not letis than ~0 da~~ from the dute the nutice iti deli~•ered or mailed within ~ which Borrower must pa}~ all sums tiecured by this Szcurity Instrument. If Borrow-er f~ils to pay these Sumti ~rior m the ~ j expiration of this period. Lender mav imoke any remediec pc rmitted b~~ this Securit}• Instrument u~itho~t further notice or ; demand on Borfow~er. ' ~ ; Bti' Stc~t~c; BE;LO~~, BOROR't'[ 1l'l'ZF1I~ and :~greeti to the t~rm~ and r~nen~ntti re~ntained in this Graduated Payment Rider. - 6'7018~3 '84 At~ 2a A 9 :57 ~ / ~.i~,/ - ~ - - ~ . ~~.7 L - . % ~ 1 Seal 1 ~ Ge~e Ba~ola/~ o • l ~ F~~E~ t.. . . ~ '~r ` I B:irrOwEr RacER Fc~ . ~ ~ , i ~ ~ ~ , ST. LUG- . ~~,~:ka ~ ~.i-.-t-jcy-~~~_ .C,'-- L i~ ° (Seal) Joan . Badolato Bo'~on~e~ ~~441 P~~E 962 .,~'~IA