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ADJUSTA~LE RATE MC~RTGAGE ~tIDER
Nt7j'iCE: TME SECURITY IN5"1'RU~?1ENT SFCURE,S A N(YI'E WHICH CONTAINS A PROVISIUN ALIA~YING
FOR CHANGFS IN THE fNTERESf RATE. iNCREASFS IN THE INT~:RFST RATE WII.L RE5ULT IN NIGHER
PAl'MEtiTS. DEGREASFS 1N TNE lNTERSf RATE WtLt. RE.SUI.T 1N LOWER PAYriEN'R.
This rider is made ihis .........lst........., day of ......................~ovembet'........................ 19..84..---•.
and is incorporatecl inw:~nd shall be deemed and supplement the Mortgage, Dc~ed of Trust, or Deed to Secure Debt (the "Security
lnstrument") of the same date grven tw the undersigned (thr "Borcower") to secure Borrov~~er's Nate to F'irst Citizens Federal
Savings and [.r,an Association (the "Lender") ot~ the same date (the "Nate") and crn•ering the property descrit~d in the
Lucero Drlve, Port St. Lucie, FLo~ida
Security Instrument and ta:ated at
Pi~perty Address
Modifications. ln addition to the crn•enants and agreements made in the Security lnstrument, Borrrnvzr and Lender fuc-
ther covenant and agree as follow~s:
A. " INTEREST RATE AND 11iONTNLY PAl'1~lENT CHANGES
The Notc pcrn ~des for an initiaf interest rate of ~ r.~?.~.. . Section 4 of the note pravides for changes ir. the
interest rate and the rr~onthly payments, as follaws:
4. INTEREST RATE AND M01~ITHLY PAYI~lE?~'T CHANGFS
iA) Change Dates
The interest rate I will pay may change on the ......~St....... day of ..........December 85
. 19....---•••
and on that day of the month every .12. months thereafter. Each date on which my interest rate could change is called a
"Change Date: '
(B) The Index
Beginning v?~ith the first Change Date, m~• interest rate will be based on an "Index:' The Index is the weekly average
yield on llnited States T~easury securities ad;~sted to a constant maturity of An~....... years, as made available try
the Federa! Reserve Board. The most recent Index figure a~ailable as of 45 days before each Chan~e Date is called the "Cur-
rent Index:'
If the indez is no lonfer available, the Note Holder will choose a new index which is based upon comparab{e informa-
t~on. The Note Holder will give me notice of its choice.
~ (Cl Calculation of Changes
Before each Change Date, the ?~iate Holder will calculate my new~ interest rate by adding percentage
poin~s (......2. to the Current Index. The Note Holder will then round the res~lt of this addition to the nearest
one-eighth of one percentage point (0.125~ l. This rounded amoune witl be my new incerest rate unti{ the next Interest Change
Date. The interest rate adj~stment may be in the form of a rate increase or a rate decrease. M~~ fint interest rate adjustment
~
w~ill be limited to a....... . My interest rate adjustments thereafter will be limited to O~~er the
term af my 1oan, my interest rate wit! ne~•er exceed . _ ~.6 ' SO... _ _ _ . • ~ .
The I~tote Holder will then determine the amt~unt of the monthl}~ payment that would t~e sufi'icient to repa~- in full the
rrincipal 1 am expected to rn~~e on the Change Date :n substaniialiy equa! payments by the maturit~~ date at m}• ~ew interest
rate. The result of this calculation wiil be the ne~~ amount of my mo~thly pa4rr.ent.
(D) Effecti~~e Date of ChanRes
My new interest rate will bec~me effecti~~e on each ChanKe Date. I will pay the amount c~f my new montfily payment
beginning on the fini month~y payment date afier the Change Date until t~~ amoun: rzf my~ monthlj payment changes again.
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~ CAP H(Z~1F. ADJI'STAR[.E RATE FtORTGAGE RIDF.R - ITRF.ASCRI" 1'~DEX - 3 Cs3!
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