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PROGRAMS 6AJ, 6ANJ, 6ASJ
1 AJ , 1 ANJ a nd 3A3
• EXHIBIT B
ARM RIDER TO NOTE
AND SECURITY INSTRUMENT
This Rider is made this 17th day of January , 19 85 ~
and is incorporated intu, an s a be deemed to amen~-and supplement the Note and the
Security Instrument of the same date given by the undersigned (The 6orrower) to Coty ,
Federal Sav~ngs and Loan Association (The Note Holder) covering property described r
in the Security Instrument and located at:
3602 S.W. Rosardo Street, Port St. Lucie, Florida 33453
~~OTICE TO BORROWER: This Rider changes the terms of your Note and Security Instrument
in two ways: (1) Your interest rate shall not increase more than 4.25 percentage
~;oints above the initial interest rate plus _2.75 % during the life of the loan and
(2) You have the option to limit monthly payment increases to a 7~~ annual payment
;ncrease which will be reflected as 15~ for each 2-vear period.
'~odifications: The covenants and agreements made in the Note and the Security Instrument
are modified as follows: ;
1) Increases in my interest rate as permitted under paragraph 5(B) of the ~
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Note will be lirnited to 4•25 percentage points above the initial
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interest rate plus 2.75 during the life of the loan.
2) Subject to the conditions set forth in Paragraph 4(C)(3) of the Note
and Paragraph 4(C)(5) below, on your first Monthly Payment Adjustment
Date you will have the option to limit your monthly payment increase ,
as permitted in Paragraph 4(C)(2) of the Note to a 15X increase over
the prior year's payment.
j
4(C)(5) Required Full Payment Amount
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; Beginning with the first monthly payment after the last Change Date, I ~
~ will pay the Full Payment Amount as my monthly payment.
s~gning this Rider, Qorrower agrees to all of the above.
1
} tness: ,
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2 ~ ~ ~ 'Y ~ ' L/~w. J~'v:,~~; (Seal) !
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HELENE M RGAN - BOrrOWer ;
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34~K pN~E 2491 ;
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~ i~porary Form 12/84 ~
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