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ADJUSTABLE RATE RiDER
50-23193012
. _ (INTERES'T RATE L,IMITS)
THIS ADJU~~~I,~E~?~wDER;s maae ch;s ...................5th ....~y of..........June,~...1985..
and is incorporate afidalil deemed to amend and suppiemen~ the Mortgage, Dsed of Trust, or Sccurity Deed ( the "Security
lnstrument") of th~ same date ~ven by W+e undersignad (the "Borrower') to secun Borrower's Adjustable Rate Note (the" Note") to ~
HARBOR FEDERAL SAYINGS AND LOAN ASSOCIAT'ION (the "Lender") of the same date and covering the property
described in the Security lnstrumeat and located a~
Fairhaven Drivs, Port St. lucie, Fla. 33452
(PrOperty Address)
The Note aonta~ins provisions allowing tor changes in the interest rate. If the
interest rate increasea, the Borrower's monthly payments will be higher. If the
interest rate decreases, the Borrower's monthly payments wil! be fower.
ADDITIONAL COVENANTS. In addition to the covenant aod agr~emenu made in the Security Inswment,
Borrower and Lender further covenant and agree as agree as foUows:
A. INTERES'T RATE AND MONTHLY PAYMENT CHANGES
Tt~e Note pmvides for an initial int~rest rate of... Z a.• 25Q..,...,..,..%. Section 4 of the Note provides for changes in the inttrest race and
the monthly paymeats, as foltows:
4. INTEREST RATE AND MONT'HLY PAYMENT CHANGES
(A) C6an~e Dates ~
The interest rate I will pay may change on the first day of ......aU~Jf ................14..~.fi..., and on that day of the month every
~W~.~.~t~......months thereafter. Each date oa which my interest rate could change is called a"Change Date."
(B) 'f'he Inde:
Beginning with the first Change Date, my interest rate will be based on an "Index." The lndex is the weekly average yieid on United
States Treasury securities ad}usted to a constant maturity of QP1~2..years, as made available by the Federal Reserve Board The
most recent Indez figure available as of 45 days before each Change Date is called the "Cunent Index."
If'the index is no longer available, the Note Holder wiU choose a new index which is based upon comparable information: The Note
Hotder will giv~ me notice of its choice.
(C~ Glculadon o[ C6:n~es
Before each Change Date, the Note Holder wil! calculate my new interest rate by adding....Itll"Qe..dqS~..f1Q/.IOO
..............................percentage points (......~~~A.........96) the the Current Indez. The sum will be my new interest rate.
The Note Holder will then deurmine the amount of the moothly payment that would be suflicient to repay in fu11 the principal I am
expected to owe on the Change Dau in substantially equal payments by the maturity date at my new interest rate. The result of this
calculation will be ths new amount of my montPily payment
(D) Llmits On Intere:t Itate Cban~ea
The rate of interest I am required to pay shall never by increased or decreased on any single Charege Date by more
than.TW0.......percentage points (..2........%) from the rate of interesi I nave been paying fos ths preceding ...~.2..,.....months. My
interest rate also shall never incresse or decrease more than....F.7.Ye..••Percentage points (......5......%) from the interest rate
established in para~raph A. of this instrument
(E) Etiective Date of C6anges
My new interest rate will bec~ne effective on each Change Date. I will pay the amdunt of my new monthly payment begining on the
firsi monthly paymcnt date after ths Change Dau untii the amount of my monthly payment changes agaia
Notlcs of Changes
The I~iote Holder will mail or deliver to me a notice before eacb Change Date. The notice will advise me of:
(i) the ncw interest rate on my loan as a` the Change Date;
(u) the amount of my monthly payment foilowing tht Change Date;
(ui) any additional matters which the Note Holder is required w disclose; and '
(iv) the tide and ulephane number of a person who will answer any question I may have regarding the nodce.
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