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ADJUSTABLE RATE MORTGAGE RIDER
NO'I'ICE: THE SECURITY INSTRUh1ENT SECIJRFS A NO'I'E WN1CH CONTAINS A PROVISION ALLOWING
FOR CHANGFS IN THE INTEREST RATF. INCREASFS iN THE INTERFST RATE WILL RESULT IN HIGHER
PAYMENTS. DECREASES IN THE INTF.RST RATE WILI. RESULT IN LOV1'ER PAY1~fENTS.
This rider is made this .........2nd.......... day of ...............JulY....................................... 19....$~....,
anci is incorporated into and shall be deemed and supplement the Mortgage, Deed of Trust, or Derd to Secure Debt (the "Security
lnstrument") of the same date given by the undersigned (the "Borrower") to secure Borrovver's Note to F~rst Citizens F'ederal
Savings and Loan Association (the "L.ender") of the same date (the "Note") and covering the property described in the
Security Instrument and located at ........1317.. Parkland _ Blqd,.,. _ Fort.. Pieree,~. FLorida
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Property Address
Modifications. In addition to the covenanGs and agreements made in the Security lnstrument, Borrcnver and Lender fur-
ther covenant and agree as follows:
A. INTEREST RATE AND A10NTHLY PAYhIENT CHANGES
The Note provides for an initial inierest rate of 9~ ~S . Section 4 of the note prrnides for changes in the
interest rate and the monthly payments, as follows:
4. INTEREST RATE AND D10NTHLY PAYMENT CHANGES
(A) Change Dates
The interest rate I will pay may change on the .....lst day of Au~ust. . ~q . 86 .
and on that day of the month every 12 . months thereafter. Each date on which my interest rate could change is called a I
"Change Date: '
(B) The Index I
Beginning with the first Change Date, my interest rate will be based on an "Index" The lndex is the weekly average
yield on United States Treasury securities adjusted to a constant maturity of one........_.. y~~, as made available by
the Federal Reserve Board. The most recent Index figure available as of 45 days before each Change Date is called the "Cur-
rent Index"
If the index is no longer available, the Note Holder will ch«~se a new index which is based upon eomparable informa-
tion. The Note Holder will give me notice of its choice.
(C) Calculation of Changes
Before each Change Date, the Note Holder will calculate my new interest rate try a~ding ....~r.50....... percentage
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~ poinu - SQ... ? to the Current Index. 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 next 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 .....2..0........9. My interest rate adjustments thereafter w~ill be limited ro......1.~~.......~. Over the
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k term of my loan, my interest rate will never exceed .....14,_75....
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~ The Note Holder will then determine the amount of the monthly payment that would be sufficient ro repay in full the
~ principa! [ am expected to rnve on the Change Date in substantially equal payments by the maturity date at m~~ new interest
~ rate. The result of this calculation will t>e the new amount of my monthly Fayment.
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~ (D) Effecti~~e Date of Changes
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~ My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment
~ beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again.
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