HomeMy WebLinkAbout0939 ~i ~ i~Q Q~AI~I
1~tIS AWtb'fAB1S RA~ RIT~R is made this 22nd clay of , 19 ffi, ud is inoorporated
u~co ~d ehall be deemed to ameod and eupplement tfie Martg,~pe, Deed of 'hz~st, ar Deed Lo Secure Deht (the
`~Security InstYUOa~t") of the s~e date giv~en by the ~dersigqed (the "'oi.v-ra~+~er") to secu~ Borrower's Adjustable
R~e Note to FIRST CITIZ~IS ~ERAL SAVII~IGS A@ID Il1~N AS90CIATIQ~I (d~e "I.a~der") of tt?e effi,e date (the "Nate") a~
caveri?B the pcoperty described ia the Seairity Instn~oe~nt atd located at:
3347 South U.S. H' #1 Fart Pi,exce FI. 33450
~rty ~8
'me ~ooe aa.t~ias pcv.isia.s alla.i~ ~or i~ t~e ia~i+e.c raae. If ei~e i'oec..c sa~e
inCt+er~+s, d~e locswQ'a ~j py~enb Yill be hid~et. If t~e int~est r+r~e dec=~es, t~e
aoc~ar's at~l~ p~¦e~t~s ~ill be la¦ec.
~4DDTPIANAL ~MI15. In addition to the ~tients and agrean~ts made ia the Secin:~y InstYtme+nt, Borroiwier
and LendQr f~sther ooare~nt ad agree as 5~l lars :
6. ~t ~ ~ ~i ~ a1~S
'I~e tZote p~+avides for an ;,:`riel interest rate af 13.25X. Section 4 of the Note pravides for ~ac~ges in tfie
uiterest rate ard the maathly payments, as follws:
4. II~Si 1~ ~ !~Z ~~Q ~
GU D~t~es
'It~e interest rate I~rill pay may d~ange on tfie lst day of Juie, 1988; and m that day of the month ewery
thirty-sia (36) months thereafta. Each date rn which my interest rate oould d~t~ is called a"G'~an8e
D~te."
~D) 7h! Ia~et
Begiffiiqg with d~e first Qiange Dete, my interest rate will be based an ai "Inde~c." 1~e I~xiex is the sieekly
aver~e yield m Uaited States Treasury sectsities adjusted to a caasta?t maturity of three years, as made
available by d~e Federal Reserv~e Baard. 1he mo~t recent I~esc figure available as of 45 days before each Cha~ge
Date is called the "(~rem Index.~~
If tt~ I~c is m lan~er available, die Note H~alder will chooae a ne~ index whidi i.s based u~vn o~o~arable
informatian. 'Itie Note Halder will g~ve me mtice of ita choice.
(C) aalcdatiad af Cb¦~s
Before esch Q~eay~e Dete, tfie Note Holder will calculate my new interest rate by adding t3~ree a~d aoe~u~ter
(3.25X) percenta~ points to the G~u-re~t Iud~c. T1~ Note Holder will thpn ramd the re~ult of this additiaa to
che aerest one-eig~th of ooe percentag~e point (0.125x). Ttus ro~nded amount will be my rew interest rate intil
the next Interest Gtiary~e Date. 1t~e i.nterest rate adjustment may be in the foffi of a rate increase aar a rate
decrease.
'Il~e Nate Hdder will t3~ deteimine tfie amomt of tfie monthly payment that would be suffici.ent to repey in
£ulI the principal I an expected W aae an the Chaz~e Date in substantiallY equal Pe~ents by the maturity date
at it.~ult of this calculation will be the ~ amunt of my monthly payment.
My ~ interest rate will became effective m eech Gt~az~ Dete. I Will pay the am~unt of my ~ monthly
payment begimiqg an the first monthly p~ym~a~t date after the Q~amBe Date ~ntil the a,o~[ of my monthly payroent
~~ges a~ain•
{S) ~o[ice af ~es
'The Nate Halder Will mail ar deliver to me a~tice before each Q~ange Dete. Tt~e mtice will advise me of:
(i) the neW interest rate an my loai as of the (han~ Date;
( u) dtie amo~nt of my monthly paymesit foi lo~ing the ~ange Date;
(iii) any sdditional matters which the Note Hold~ is required to disclose; and
(iv) the title aod telephone c~ber of a person ~fio will answer ary question I may have regarding the
notice.
a B. I~
~ t,nifoxm Covenant 4 of the Security I~tnIISit is ~ended to read as follws:
~ 4. f~s; IJar. Barrvwer ahall pay all t~ces, asses~ents, and other charges, fines axl impositions
attributable to the Property ~hid? may attain a priority over this Secau'ity Instnment, and leasehold payments ar ~
r ~rota~d rents, if aay, in the mazmer pcavided ~ paragraph 2 hereof or, if mt paid in such ma~mer, by Bocrwer
~ *.~king paryment, Whai due, directly W the payee thereof. Borrvw~ ehall pQmnptly furniah to Lender all notices
af ano~nts due u~der this ParagraPh, atid in the eveat Bocra~r ~all mak~e payment directly, Barrawex e~all
~ ~r~ptly furni~ to Lender receipts eviden~cing such payments. BorroWer shall pranptly discl~ar8e any lien which
:~:as priority ouer this Security Instn~ent; hoWever, BarrvWer at?all mt be required to discharge ary suc:h lien eo
~
f 1c~ as Borrow~er: (a) shall agree in writing W the payment of the obl~gation securad by sud~ lia~ in a mamer
acceptable to La~dQr; (b) ~all in good faith aontest arh lien by, ar defend against enforcement of such lien
in, leg;al proceeding~ whidi in the opinim of Le~er operate to grev~nt the eafarc~ of the lien or forfeiture
~ ~~f tfie Pm~erty o~r ary part ti~ereof; ar (c) ~all secure fr~ tfie t~lder of arh lien ai agreement ir. a fotm
; ~atisfactory W I.~der subordinatu~g sud~ liei to this Security Instn~ent.
i
` _ f La~der deteimines tfiat all ar aiy part of tfie Pn>perty is sub ject to a lien ~fiich may attain a priority vvex
~ c:~is Sec~ity Instn~t, Lenda shall give Bonro~~er a aotice identifying such lien. Borro~r shall satisfy such
~ 1;~~ or take me oc more of d~e acti.ons set forth abave within ten days of tt?e giving of the mtice.
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I~IITIA~ HEgE
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BO~K `t~~ P~GE
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