HomeMy WebLinkAbout0939 given me and al,u the ncle and celephune numher u(~a penun «hu wil( answer an} question 1 ma} ha~~e regarding the
notice. •
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B. TRANSFE:R OF T~-IE PROPERTI~ OR BEtiEFIC1AL INTEREST IN BORRO«'ER
Uniform Covenant 17 ~,t the Securit} Instrament is amended to read a: fc~IluH~:
? Transfer of the Propert} or a Beneficial Interest in Borrower. (f all cir an}• part ot the Propert}~ ~~r an} interest
c in it is sold e~r transferred 1 ar if a heneticial interest in Bo~ ruw~er ~s sul~ or transterred and Borroaer is nut a natural
persc~n ) w~ithout Lender's priur wntten rnnsent, Lender ma}. at its option, rcquire immediate pa}•ment in full of all
sums secured hy chis Securit}~ Inctrument. However, this option sha{I not he erercised by Lender if exercise is
K prohihited h~ federaf law~ as ~~f the date ot chis Secur~c~ [nserument. Lender afso shal; nut exercise this option if: 1 a 1
Barr~~wer cau;es to he whmittcd tc~ (_ender inf'~rmation required by Lender to e~aluate the inteRded transferec a~ if a
new- i~~an aer~ heing nTade to the tran,feree: and ( h ~ Lender reasonabl~~ determines that Lender's ;ecurit}~ w ill n~~t be
~ impaired by the luan astiumpeion ~nd that the ruk i~f a hrcach ~~f any cu~~enant or agreement in this Secunt~~
~ lnstrument i, acceptahle t~~ Lelder.
MULTISTATE ADJUSTABLE AATE RIDER- Tr~~~ury ind~x-Smy~e Famdy-FMLMIC UnHorm Instruman! Form 3t06 12~B3
a,~~?K 442 ~~~~E
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ADJUSTABLE RATE RIDER~ ~ : •
TNIS ADJUSTABLE RATE RIDER is made this ...3.Rz1.1. day of .......A~tgus.t . t98.:?...... , a~.-.a.
is incorporated inta and shall be deemed eo amend and supplement the Mongage, Deed of Trust or Security Deed
(the "Securiry Instrument") of the same dace given by the undersigned (the "Borrower") to sPcure $orrower's ~
Adjustable Rate Note ( the "Nate" ~ to ....Security,.. Fedex~,l.,$~,y~~~.._arid..I.Aan..~ssnciatinn..af,........... ~
Indian River. County ( the "Lender" ) of the same date and covering thr v?upeny
described in the Securiry Instrument and toca~ed at~
--~~860.1...i~orth_.Boulevard..-- --Ft-'...Piercea...~]~. --.~.3.4~0
[ Prupen~ Addrrss J
THE NOTE CONTAINS PROVISIONS ALLOWING FUR CHANGES IN TNE INTFR-
EST RATE AND THE A10NTNLY PAYMENT. IF THE INTF.REST RATE INCREASES,
THE BORROWER'S !~tONTNLY PAYMF.NTS WtLL BE NIGNFR. iF THE INTEREST
RA1'E DFCREASES, THE BORROWER'S hfONTHLY PAYMFNTS N'ILL BE LOWFR.
ADDCf10YAl. COVENANTS. I(1 addition to the covenants a~~d agreements made in the Security Instrument,
Borcow~er and Lender further covenant and agree as follows:
A. INTEREST RATE AND MONTHLY PAYMENT CHANGES
The Note provides for an initial interest rate of ...I.~...?.5.... The Note provides for changes in the interest rate and
the monthly payments, as fi~llows:
4. tNTEREST RATE AND h10NTHL1' PAt'NiENT CHANGES
( A ) Change Dates
The interest rate 1 will pay ma~~ change on the hrst day of .............Se~tembe~...l.•~-~•-• . ~9 $5~-•~ . and on that
~iay every ....1.2.......... th month thereafter. Each date on w~hich my interest rate could change ic called a"Change
Date."
( B ) The lndez
8eginning with the first Change Date, my~ interest rate w•ill be based on an Index. The "lndex" is the weekl~•
average }~ie~d on Uniced States Treasury securities adjusted t~ a constant maturity of .........:ane
years, as rnade a~•ailable by the Federal Reserve Board. The must recent Index
figure a~•ailable as ~f the date 45 days before each Change Date is called the "Current Indg~,"
[f the Index is no longer a~~aiiable, the Note Holder will choase'a new~ index which is based u~n comparable
infarmation. The '.~'nte Holder will giti~e me natice of this choice.