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ADJUSTA[3I.E RATE RIDER
TNIS ADIUSTABLE RATE RIDER is made this .!?.`~t!.._ day of ........I~~ 19..85..,
and is inoorporated into and shall be deemed to amend and suppiement the Mortgage, Dccd of Trust, or Deed to
Sccure Debt (the "Security Instrument") of the same date given by the undersigned (the "8orrower") to sccure
Borrower'S Ad~uSllb~t Ralt NOfC IO ..FIRST..NATIONAL„ B~Nj{„~[V~,,;~~1J.$~..,('r,pj~,Aj~j~(...Q~..,S~jJ,ART.f..a
Na[ional ~ankin~ Association (the "Lender") of the same datc (the "Note") and covcring the
propcrty described in the Securicy Instrument and located at:
...............................10701 South..Ala.:..Jensen_,Beact~a..F~.RX.~,~a.....~.3.4~.?.._........................................................
(Property Addresa)
Th~ Not~ co~tains provision~ aliow~n~ to~ chsn~ss in th~ intsre~t rats. If ths inte~e~t ~ate
incress~~. th~ Borrow~r's monthir paym~nt• will b~ hi~h~r. If the ints~est rat•
dscrsa~~s~ th~ Bor~ow~t's monthlr paym~nt~ wiil b~ lows~.
A~nrrtoNnt. CoveN,?rrrs. ln addition to the covenant and agreements made in the Security Instrument, Bortower
and Lender funher covenant and agrce as follows:
A. INTEREST RATE AND MONTHI.Y PAYM1IENT CHAIVGES
The Note provides for an initial interest rate ot ......11,;,~0,,,...~, Section 4 of the Note provides for changes in the
interest rate and che monthly paymenu~ as follows:
1. lNTEREST RA TE AND MONTHL Y PA YbfENT CHANGES
(A) Change Dates
The interest rate I wiU pay may change on the ..~z.r.st day of ..........~u.l.~c........................... 198b....., and
oB that day of the month every ....tFi~~ve......... 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 inttrest rate will be based on an "Indez." The lndex is the weekly
average yield on United States Treasury securities adjusted to a constant maturity of .....one,,,,,,,,,,,,,,, years, as made
available by the Federal Reserve Boar~. Tht most recent Index figure availab(e as of 45 days before each Change
^a:~ is ca:icd "~~rrent In~ex."
If the Indexis no longtr available, the Note Holder will choos~ a new index which is based upon comparable
information. 'The Note Holdec will give me notice of its choice.
(C7 Calculation of Ch3nges
Before each Ch~nge D~te. the Note Holdcr will calcul~te my nrw intrre~t rate by adding 2. 90 percent~ge points
( 2. 90 `y~) ~hc Current Indea. The Note Holder w~ill thrn round the rc.ult of thic addition lo th~ ncarest one-eighth
of one ~nrccnt~gr Ex~int (0.125r1o). This rounded amount w~ill be my nrw~ inlcrtst r~te until th~ next Ch~nge Date.
The Notc H~~Idrr w•ill then determine the ~mounl of 1he monthly pa}•ment thal would be sufficitnt to repay thc
~ unr~id principal h~l~ncr uf my lo~n ! am expected to o~~~e on Ih~ Ch~ngr Date in full nn the maturity date at my new ~
` interat rate in substantially equai payments. The result of lhis c~lculation ic called the "Full Payment Amount". and it
' w~ill br thc new• ~maunt uf my numthly p~yn~rnt ~
(D) ERectire Date of Changes '
,
~ My new interest rate will become efTective on each Change Date. I will pay the amount of my new monthly '
~ payment beginning on the 6rst monthly payment date aRer the Change Date until the amount oC my monthly ;
~ payment changes again. ;
~ (E) Notice of Changes '
s
~ 'I'he Note Holder will mail or deliver to me a notice before each Change Date. The notice will advise me of: ~
~ (i) the new interest rate on my loan as of the Change Date; ~
~ (ii) the amount of my monthly payment following the Change Datc;
k (iii) any additional matters whith the Note fiolder is required to disclose; and
~
~ (iv) the title and telephone number of a person who will answer any question I may have regarding the ~
~ notict. ;
a B. CHARGES; LIEriS j
Uniform Covenant 4 of the Stcurity instrument is amendeJ to read as follows:
4. Charges; Liens. Borrower shall pay all taxcs, asscssmcnts, anJ othcr charges, fincs and impositions attributable to
s: the Property which may att~in a prioriry over this Security Instrument, a~d IeaseholJ payments or ground rents, if
any, in the manner providcd undcr parygraph 2 hrreof or, if not paid in such m~nner, by Borrower making payment,
~ when due, directly to the payee thereof. Qurrower shall rromptly furnish to Lender all notices of amounts due under
this paragraph, and in the event Rorrower shall m~kc ~~ymcn! directly, Borrower shall promptly furnish to Lender
~ receipts evidencing such paymenes. Burrow~r shall pmmptly Ji~charge any lien which has priority over this Security ~
~ Instrumcnr, however, Borrower shall not be rcquircd c~ Jicch~rgc any such !icn so long as E3orrowcr. ( a) shall agrce in ~
~ wnting to tht paymcnt of the obligati~n secured by such lien in a manner acce~table to Lender, (b) shall in good '
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