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ADJUSTABLE RATE RIDER
(INTEREST RATE LIMITS)
THIS ADJUSTABLE RAT~ RIDER is made this ~
STH ,.~y SE PTEHBE R 1~8~ ~
and is incorporaud into and a6ai1 be deeme~ to aaiend aad supplemeat the Martgage, Deed of Trust, or S~e,urity Deed(the "Security
lnstrumepP') of the same d~e givea by the undersigoed (the "Borrowe~"} to secun Borrower'a Adjustablp Rate Note (the " Note") to
HARBOR FEDBRAL SAVINGS AND LOAN ASSOCIATION (the "L.ender") of the seme~date aad covering the praperty
descn'bed in the Security Instrumant and Iocatad at t'' ` ~,t ! ,
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5107 FEIITHER CREEK ROAD FORT PtERCE. F~. 33~So ~
(Property Addresa)
The Note contafns prov(stons allowing ior changes i~ the tnterest rate. If the
interest rats incresses, the Borrower's montfily payments w!!I be hlgher, it the
interest rate decreases, ths Borrower's mo~thly paymsnts will be lower.
ADDITIONAL (;OVENANTS. Ia addition to the covenant aad agr~eements made in the Security laswmen~
Borrower and L,ender further coveaant and agrce as ~e ss follows:
A. 1N1'EREST RATE AND MONTHLY PAYMENT CHANGES
The Nott provides for an initial interest rate of.... 5~ 9i6. Section 4 of the Note provides for changes in the interest rate and
the monthly payments, as follows: •
4. INTEREST RA'fE AND MONTHLY PAYMENT CHANGES
(A) C6an=e Datss -
OC708ER 86
The i~~rest rate I will pay may change on the first day of ...............................19.........., and on that day of We month every
........................months thereafter. Each date on which my interest rau c~outd change is called a"Change Date."
(B) T6e Inde:
BeBrming with the first Change Date, my interest rate will be based on an"Index." The Index is the weekly average yield on United
States Treasury securities adjustsd to a constant maturity of QN~.........years, as made available by the Foderal Reserve Board The
most recent Indez figure available as of 45 days beforo each Change Date is called the "Cumeat Index."
Uihe index is no longer available, the Note Holder will choose a new index which is based upon comparable information: The Note
Holder will give me notice af itt choice.
(C7 Glenladon of C6anges
~~fg gach Chan e Date, the Atote HQId r will calculate m new interest rate b addin TMO AN D
g Y Y 8
...............~~..........percentage points (....~.'.~5...........%) the the Cunent Lndez. The sum will be my new interest rate.
The Note Holder will thea determine the amount of the monthty payment that would be sufTcient to repay in fWl the principal I am
expected to owe on the Change Dau in substantialty equsl paymenu by the maturity date at my new interest rate. The resuh of this
calculatioa will be We new amount of my monehly payment
(D) L.imits Oa Interest R~te Chan~
~ ratt of interest I a~ r~~tired to pay shall ntver by increasec! or decreased oa any single C~aPge Dau by more
thaa ...............perceatage po6nts j.............%) from tbe rate of iqte.~e.st I have been paying for _Qreceding ................months. My
interest rau also shall ntver inerease or decrease more thai{. ~ ~t_........percentage points~~'..w........%) from the interest rate
established in paragraph A. of this instrument
(E) EH'ative Date ot C6an~ss
My new interest rau will become effective on eac6 Change Date. I will pay the amount of my new moathly payment begining on che
first monthly payment date after the Change Date until the amount of my monthly payment changos agaia
(F~ Notice of Changes
The Nou Holder will mail or deliver to ?ne a ~otice before esch Change Date. The natic;e will advise me of:
(i) the new interest rate on my ban as of the Change Date;
(ii) the amount of my mor?thly payment following the Change Date;
(ui) any additional matiers which the Note Holder is required to disclose; and
{iv) the dtle and telephone number of a person who witt answer any questia~ I may have regarding the uo~ice.
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