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6. BUKKO~ti'EK'S RIGH7' TO L1tiliT 11O\THl.~' PA1'~1l~:~7' ~
(A) Calculation ot Limited P~~ment ~
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Uniess Sectiuns b(C) and 6~D> below ~~ill not permit me to du su, 1 m~y rh~wtie tu limit the smuunt uf m~ ne~~ munth •
payment following the ti ird and each later Interest Chang~ Date to the amuunt I h~~~e Ix:en navin~ multialied hy the numbc.~ \
1.075. This amount is called the "Limited Payment." If 1 choose a l.imited gaj~~~eit as my monthl~• pa~~ment, I must
gi~~e the \ote Hulder notice that 1 am doing so at least IS da~~s before m~~ first neH monthl~~ pa~ment is due.
(B) Additiuns to ~1~~ Unpaid Principai
My monthly payment could bc Icss than the amount of the inrerest p~mion of the monthly payment that H•ould be +ufti-
4~ient ro repay the unpaid princip:~t 1 o~~e at the m~nthly payment date in full on the maturity date at my current inter~st
rate ir, substsntiaily equal payments. !f so, each month that the ~moum of my monthly payment is less than the interest por-
ti~~n, the Note Holder will subuact the amount of my monthly pa}'ment from the am~~unt of the interest portion and wiil add
th~ difference to my unpaid principal. The Note Holder will also add interest on the amount of this difference to m~~ unpai~i
principal each month. The interest rate on the interest added to principal N~ill be the rate: reyuired by Srction 2 or 4(A) atx~re.
(C) Limit on Unpaid Principal; Increased i~lonthly Pa~~mint
M}~ unpaid principal can never exceed a maximum amuunt eyuul to one hundred twenty-fi~~e perccnt ( iZJ l~ ) cji th~
principal amount I originally borrowed. My unpaid principal could exreed that maximum amount if I~ay a Limited Payment.
If so, on the date that my paying a Lintited Payment H~ould cause me to exceed thai limit, 1 will instead begin paying a new~
monthly~ paynlent unti) the nexi lnterest Change Date. The nex• monthl~~ pay~ment w~ill be in an amount w•hich wuuld be sufti-
rient to repa~ my then unpaid principal balance in full on the msturit~ ~late at m~ current interest r;~te in ,ubstantiall~~ eyual
pa} ments.
(D) Final ~lonthl~~ Pa~~ments
Beginning with the hrst n~nthly pa} ment atter the tinal Change Date, 1 u~ill pay~ the Full Pa~~ment as m~~ monthl~~ payment.
7. NOTICF, OF CHANGES
The Note Holder w•ill mail or deli~•er to me a ~uti~e of .in~~ chanees in m~• interest rate and in the aniount of m}~ monthl~•
payment befare the etierti~~e date ut any change. The notice u~itl inclucle infor~~~ation required b~~ la~~~ to be giti~en me and
al,o the title and telePhone numb~:r of a person ti~~ho ~rill answer sny yuestion I ma~~ have regarding the notire.
B. TRANSFER OF THE PROPER'CY OR A BEtiEFICIAL 11TEREST I\ BORRO~t'ER
Uniform Covenant l~ of the Security Instrument is amended to read as follow~s:
Transfer of the Propert~~ or a Bene6cial Interesi in Borrower. If all or an}~ part of the Property or any interest
in it is sold ur transferred (or if a tk.neficial interest in Borruwer is sold ur tran~ferred and Borrow•er is not a natural person)
without Lender's priar ~~ritten consent. Lender ma}~, at its optdon, reyuire immediate pa~~ment in full uf all sums secured
b} this Securit~~ Instrument. Ho~vever, this aption shall not be exercised by Lender if e~ercise is prohibited b~• federal laN~
as of the ~late of this Security Instrument. Lender also shall not exercise this aption if: (a> Borrower causes to be submit¢ed
to L.ender infomiation required by Lender to evaluate the intended transfer~e as if a ne~~• loan were being made t~ the transferee;
and (b) Lcnder reasonab(y deteRnines that Lender's security will not be impaired b}- the Ic~an assumption and that the risk
~~t~ a brearh of any rovenant c~r agreement in this Security~ Instrument is acceptable to Lender. .
To the extent permitted bJ applicab~e law, l,ender may charge a reasonab.'•e !ee as a condition to Lender's consent '
to the loan assumptiun. I.en~er may also require the transferee to sign an assumption agreement that is acceptable to Lender
and that obligates the tran,feree to ke~p all the promises and aereements made in the Note and in this Security (nswment.
&~rrower will continue to be ob!igated under the Note and this Securit} Instrument unless Lender releasf:s Borrower in ~~riting.
If Lender exercises ,he option to require immediate pa}~ment in full. Lender shall gi~~e Borrower notice of acceleradon.
The notice shall pru~ ide a pc rioci of not less than 30 da~ s frum th~ date the notice is delivered or mailed ~ ithin which Bor-
ru«er must pa~ all ,ums secured b~ thi; Securit}~ [nstrument. If Borroaer faiis to pa} thcse sums prior ta the expirativn
uf this perie~, Lender ma} im~c~k~ ;~m remedies permitted b} thi~ Serurit~~ ?nstrument ~ ithc~ut further notice or deman~i on
B~~rr~~~cer. -
BY SIG~I\G BEL0~1'. Burru~~er ac~ept, and agree~ to the tenn~ an~l ru~enant~ rontained in this Graduated Pa~~ment
Rider. ~
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,4 ~_i'~ Lt~.~ ` _-~~.L~lC ~ (S~a11 ~~4'~LLL- . `1 G-~S (Seal)
FREDERICK GARRICK ~"~`"E~ IRi~A ti. GARRICK eo"°"z`
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g~.,. 2. 3o~~o«er
rSikn Ur,qirial Onl~~~
'84 SEP 28 P 4 :02 ; ,
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