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A~JUSTA~LE RATE MCaR'PG~GE itIDER
~lOrl'IC'~: THE SECURTfY 1NSI'RU11lENT SECURES A NOrI'E WHICH CONTAINS A PROVISION A1.L01ti'ING
~OR CNANGES 1N'~HE INTERI~:ST RATE. INCREASES IN THE INTF,RESI' RATE WIL.L RF.~ULT IN HIGHER
I:.'Yl~. ~E~°~!.S~ 1?~ '!'HE l:~*!'~RS!' R~'!'~ w».~. RFC~n T~N I~OWER pAYMF.N7~.
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This rider is made this .......20~h.......... day of ....................Sept~mber........................, 19..85........ ~
uai ia ii~t~~pi,ratad into atrd shalt be 3oc;r~,.; a,-~.: s;s~'„-.:zticnt :f~. ti~~:i~~e, Deed ~f TY~st. or I.~e~e+d to Serurr Ikht (the •:cecur~ty
Instrument") of t!?e same date given by ttn: ir~d:.rsigned (the "Borrower") to securt Borrower's Note to Fi.~st Cltlzens F~dcrAl
Savin~gs and Law~ ~sociatioa (the "l.ender") of die same date (th~ "Note") and cavering the prupzny ck~cribeJ in the
Securicy Inscrument and locaced ac ........6Sb..Ran.Bica,..~ar.~.St...~.u~i.e.,..~'1.ox~da
Property A,ddress
Moditkatiot~s. in addition to the covenants and agreem~nts made in the Security I~strument, Borr~aw~er and I,ender fur-
ther cavcnant and agre~ as foltaws:
A• INPERF.S7' RATE AND MONTHLY PAYMENT CHANGES
T~e 1'Qote pibvides for an initial inte~st rate of .......9.SQ.,.,~. Section 4 of the note pravides for changes in the
interest ratc and the monthly payments, as follaws:
L.
A. ' Q~'fLRFST RATE AND MONTHGY PAYMFNT CHANGES
(A) Chaa~ge I~tes ~
The interest rate I will pay may change on the .......~.s~~...... day of ..........Q~k4b~F.......•-•..., 19...$~..,
and on that day of the month every 12. months thereafter. Each date on which my intenest rate could change is called a
"Change Date:'
B) The Index
Beginning 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 adjusted to a constant maturiry of .._..._..RAe,...., years, as made available by
the Federal Reserve Board. The most recent Index figure ilable as of 45 days before each Change Dat~ is called the "~ur-
rent Index:'
If the indez is nci longer available. the Note Holder will ehoose a new index which is based upon con~parable informa-
tion. The NWe Holder wili give me notice of its chaice.
(G~ Cakulatan of Changes
~
Before each Change Date, the Note Nolder will calculate my new interest rate by adding ...2..50....._.. percentage
P~~nu 2.50- to the Current Indez. The Note Holder will then round the result of this addition to the near~st ~
one-eighth of one percer.tage point (0.125%). This rounded amount wi!! be my new interest rate untii the nezt Interest Change
Date. The interest rate adjustment may be in the form of a rate increase or a rate decrea,se. My first interest rate adjustment
wili be limited tc? .......2~p....._%. My interest rate adjustments thereafter wili be limited to ..1..Q..........5b. Over the
term of my loan, my interest rate wiil never exceed .14-. S 0•••-••••.. -
The Note Holder will then determine the amount of ~he monthly payment that ~rrould be suf~cient t.~ repay in full the
, principa! I am ezpected to ovve on the Change Date ;n substantiall~~ equal paymen~s try the mawrity date at my new interest
rate. The resutt of this catc~lation wil( be t:ie new amount of crty mc~nthty payrrtent_
(D) Effectire Da~~ o! Ct~anges
'?~Sy new interest rate w'sll b~come effective on each Change Gate. i.vill pay the amaunt af my ne.w monthl~~ payment
beginning on the first morsthly payment date afte: the Change Date ~ntil the amount of my monthly payment changes again.
GP HOME ADJUSI'ABL£ RATE ~tOR7GAGE RIDER -~7RF,esUrtY 1KDEx - 3,at~
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