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Home My WebLink About0946 ~ ADJUSTABL~ RATE RIDER~ (lnteresi Rate Limits) ~ A, / ; ~ ~ /{/~i/ TH1S ADJUSTABLE RATE RtDER is made this ,.13th„ day of ........MARCH., ~g,,85, . and is incorporatsd into and shall be damed to amend and supplement the Mortgage, Deed of Tp~ct, or Deed to~Saicure Debt (the "Sccurity Instrument") of the same date given by the undersigned (the "Borrower"j to cecure Borrower's Adjustable Rate Note to . .FIRST, ~IDEL.ITY ,SQVIN~S_ AND_ LOAN. ~,SSOCIATION, , , , , , , , , , , , , , , , , , , , , , , , , , , , . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (the "Lender") ot the samc date (the "hlote") and covering the property describcd in the Security lnstument and located at: ..1141.SW.Irvin.g.Street..Port,St:.Luc?e,,,,FL 334~2 . . . . . . . . . . . . . ~ . . . . (Property~AddressJ . Th• Not~ contoins provisions allowing for chang~s in th~ 1nt~r~:t rot~ ~v~ry r~ar , subi~ct to th• iimits stat~d in th• Not~. If th~ inf~r~st rot~ incr~o~~s, th• i Bor~ow~r`s monthlr paym~nts wiii b~ high~r. if th• intor~st rato d~cr~a:~s, th• Ows~s~a~~s ~ ~ww~I~I~ ~l4~~!!~~!**~ L~1tl~ ~ W~l. ~v~i~.a.r• •sav~~.~i's~ ~..~i. ~ s.. e~ ~~a,3,. ADDITIONAL COVENANTS: In addition to the covenants and agreements made in the Security lnstrument, Borrower and Lender further covenant and agrce as iollows: A. INTEREST RATE AND MONTHLY P~YM~NT ~HA,~GES re er o no e ri er The Note provides for an initial interest rate of ......~Io. Section 4 of the Note provides for changes in the interest rate and the monthly payments, as follows: "4. iNTEREST RATE AND MON7'HLY PAYMENT CHANGES (A) Ch~nge Dates The interest rate I will pay may change on the first day of , refer.,to , note rider., ~9. and on that day every 12th month thereafter. Each dat~ on which my interest rate could change is called a"Change Date." (B) The Index Beginning with the first Change Date. my interest rate will be bascd on an Index. The "Index" is the weekly average yield on United States Treasury securities adjust~d to a constant maturity of 1 year, as made available by the Federal Reserve Board. The most recen~ Index figure available as of the date 45 days before each Change Date is called the "Current Index." If the Ind~x is no longer available, the Note Holder will choose a new index which is based upon comparable information. The hote Holder will give me notice of this choice. (C) Cakuls~tion oi C6anga refer to note rider Before each Change Date, the Note Holder will calculate my new interest rate by adding percentage points i qo) to tht Current Index. The Note Holder will then round the res~lt of this addition to the nearest one-eighth ; of one percentage point (0.12Sho). Subject to the limits stated in Section 4(D) below, this rounded amount will be my new ' interest rate until the next Change Date. l The Note Holder witl then determine the amount of the monthiy payment that would be sufficient to repay the o unpaid principal balance of my loan I am expected to owe on the Change Date in full on thc maturity date at my new ; interat rate in substantially equal payments. The ruuit of this calculation will be the new amount of my monthly payment. ~g (D) Limil on Interest Rate Chaeges i The rate of interest I am required to pay shall never be increased on any singlc Change Date by more than ? one percentage point (1.0%) ? two percentage points (2.O~lo) /Check only one boxj from the rate of interest I have bten Faying a ~ for the preceding twelve months. My interest rate also sh~ll never be greater than ...........qo. refer to note rider (E) Eftective Date ot C6angea My new interest ~ate will become tffective on each Change Date. I will pay the amount of my ncw monthly payment beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again. ;F) Noticr of Ci~anges The Note Holder wiU mail or deliver to me a notice of any changes in the amount of my monthly payment before the ~ effcctive date of any change. The notice will inciude information required by law to be given me and ~lso the title and telephone number of a person who will answer any ques[ion I may have regarding the notice." ~ B. CHARGES; LIENS ~ Vit~IV~li~ ^rv~F~~Oltl 7 V~ ?~b J{.V4iii~ ~iWiiuiiiviii iJ Qai~~.i~V~M ~v i~.w~ au ~viiv~u. ~ 4. Charges; Uena. Borrower shall pay all taxes, assessments, and other charges. fines and impositions attributable to the ~ Property which may attain a priority over this Security Instrument~ and leasehold payments or ground rents. if any, in the ' manner provi~ed under paragraph 2 hereof or, if not paid in such mannrr, by Borrower making payment, when due, ~ ~ directly to the payee thermf. Borrower shall promptly furnish to Lender all notica of amounts due under this paragraph. ' and in the event Borrower shall make payment directly. Borrower shall promptly furnish to Lender receipts evidencing ~ such payments. Borrower shall promptiy discharge any lien which has priority over this Security Instrument; provided ; that Borrower shall not be required to discharge any such lien so long as Borrower: (a) shall agree in writing to the r payment of the obligation secured by such lien in a manner acceptable to Lender: (b) shaU in good faith contest such lien ~ by, or defend against enforcem~nt of such lien in, legal proceedings which in the opinion of Lenderoperate toprevent the ~ enforcement of thc lien or forfeiwre of the Property or any part thereof; or (c) shall ucure from thE holder of such lien an ~ agreement in a form satisfactory to Lender subordinating such lien to this Security lnstrument. ~ ~ lf Lender determines that all or any part of the Property is subject to a lien which may attain a priority over this Security Instrument, Lender shall send Borrower notice identifying such lien. Borrower shall satisfy such lien or take one or more of ~ the actions set fortf~ above within ten days of the giving of notice. fiK p~ T-BI~~ ~OQK PdGf 00 Fus oos osaa ADJUSTAeLE RATE RlDER - Ploet A• 4 ond A-~-~-4 Fomilr-9/83-FNMI? unHorrn Instrun~nt Form No. A 311-3 ~ _.~~-;:~~~A ~~flx460 P~~~ 94~ - ~ ~~~rv ~ ~ ~ ~ ~K -