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ADJUSTABLE RATE MORTGAGE RIDER
NOrTICE: THE SECUItITY INSTRUMENT SECURES A NO'I'E WHICH CONTAINS A PROVISIOlV ALLOWING
FOR CHANG~;S IN THE INTERESI' RATE.INCREASES IN THE INT~:ST RATE WILL RESULT 1N HIGHER
PAYRiEtr"i'S. DECREASES IN THE INTERST RATE WILL RESUI.T IN IAWER PAY11lEN'IS.
This rider is made this ........~th........... day of Apri i 19... 8~...
and is incorporated into and shall be deemed and supplement the Mortgage. Deed of Tnut, or Deed to Secure Debt (tt?e "Security
Instniment") of the same date given by the undersigned (the "Borcov~~er") to secure Borrcrver's Note to First Citizens Feder~tl
Savings and Loan Association (the "Lender") of the same date (~he "Note") and covering the property desc;ribed in the
Securitv lnstrument and located at .........Prado..Ave..,..Port.,St,.,Lucie.,..FLQri,d~
~ Property Address
lliodifkatioas. In additio~ to the crn~enants and agreements made in the Security Instrument, 8orrower and l.ender fur-
ther co+,~enant and agree as follows:
A. INTEREST RATE AND MONTHLY PAYMEIYT CHA.tiGES
The Note provides for an initiai interest rate of ~'.75..._.°,b. Section 4 of the note provides for changes in the
interest rate and the monthly payments, as foltcrvs:
4. INTERESI' RATE AND MONTHLY PAYMENT C~iANGES
(A) Change Dates
The interest rate I wili pay may change on the .....1 st........ day of Ma.Y 19.. 86....
and on that day of the month every months thereafter. Each date 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 based on an "Index" The Index is the weekly average
yield on United Statcs Treasury securities adjusted to a constant maturity of one_.. y~~, as made a~ailable by
the Federal Reserve Board. The most recent Indez figure available as of 45 days before each Change Date is called the "Cur-
rent lndex:' ~
If the index is no longer a~ailable, the Note Holder w~ill choose a new index which is based upon comparable informa- ~
tion. The Note Holder witl give me notice of its choice. ~
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(C) Calculation of Changes ~
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; Before each Change Date, the Note Holder will calculate my new interest rate by adding ~~.5~ percentage '
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~ points 2.~50.....`~) to the Current Indez. The Note Holder will then round the result of this addition to the nearest '
~ one-eighth of one percentage point (0.125~). This rounded amount will be my~ new interest rate until the nezt Interest Change
~ Date. The interest rate adjustment may be in the form of a rate increase or a rate decrease. My first interest rate adjustment
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° will be limited to 0....... My interest rate adjustments thereafter w~ill be limited t~ Q..... `k . Over the
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~ term of my loan, my interest rate will never exceed ......1.]..ZS........54. ~
~ The Note Hoider will then determine the amouni of the monthly payment that would be sufficient to repay in full the
principal I am expected to owe on the Change Date in substantially equal pa}~ments by the maturit}~ date at my new interest
rate. The result of this calcu(ation will be the new amount of my monthly payment.
~ (D) Effecti~e Date of Changes
~ My new interest rate wiil become effective on each Change Date. 1 will pay the amount of my new m~~nthly payment
~ beginning on .he first monthly payment date aft~r the Change Date unto! the amount of my monthly payment changes agai~.
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