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' ~ ~ AD.TUSTABLE RAT~ ~IDF:R
TN[S ADIUSTABLE R~TE R1DER is made this . . 1~-~? . . . . day of . . . . . . . . . . . . 19 . $4. ;
and is inco~porattd into a~d shall be deemed to amend aoci supplemrnt the Mort~age. Deed of Trust. or poed to
Sccurc Debt (thr "Sccurity Instrum:nt") of the ume date given by the undecsigned the "Bor~ower") to sccure
Borrower's Adjusabie Rate Note to . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Citx F~~ ,~,.i+~,v, MQa,snd loan, .
. .Association, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , (~he "Lender") of !he same date (the "Note") and co~-ering the
propeny described in the Security instrun~ent and located at:
9650 S. AIA, Apt. 2004, Jensen Beact~., Florida 33457
(Prope~ty Addiess)
The Noto contsins provisk:~s altawin~ for char~yes f~ the inter~st rste. If th~ interest ;
rate inc~eases, the Bon~o~r~e~'s manthly payments wfll ba t~ighat. it th~ i~ter~st raYe
~ecro~ses, ttre 8onower't ~.wnthiy payme~ts wlll be lower.
ADDITlONAL COVENANTS. in addi~ion to the rovenant and agreements made i:i the Security Instrument. Borrower
and Lender furthrr covenant and agree as foRlows: ~
A. 1NTEREST RATE AND MUNTHLY PAYMENT CHANGFS _ ,
The Note provides for an initial intercst rate of ...9-25....... 'Yi. Seciion 4 of the Note provides ror changes
in the interat rate and the monthly payments. as tollows:
4. /NTEREST RATE AND M0/1 THL Y PA YMENT CNANGES G~ ~
(A) Chaa:e Dates ~ ~
Tht inter~st rate f witi pay may change on th~ ..F?~t. day of JanuatY_ 86, g
on that day of the month every 12... mRnths thcreafter. Each datr on whirh my interat rate~rould ch nnt ,
is callec! a"Change Date." i
~-(B) Tht tadex ?
1
Beginning with the rrst change Date. my interat rate will be bastd on an "Index". The index is the one following ~
the box which is marked: 1
? The avtrage discount rat: on ~wenty six week Treasury 3ilfs as annuunrecl by tne U.S. Treasury Depanment ~
foliowing its saie oi th~se securities. ~
,
~The weekly average yield on United States ireasury securities adjusted ~o a constant maturity of l. years. ~
as made available by the Federal Reserve E3c~ar~d. ~
~
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'i'ht most rectnt Index figure available as of 45 days bei'ore wch Change Da~e is ralled the "Current Index". j
!f the I:.dex is no longrr avaitabk the Note Hotder will choox a new index whirh is based on romparable informs- I
tion. Tht Note Helder will givt me naice of its choice. -
~ Glculation of ChanRes
E Before each Change Date. the Note Holder will first ralc~iate my neH imrrr~t rat~. by adding 2. 75 percentage
~ ~?oints t• 2--?`-~0• °H) ~o the Current lndex. 1 he Note Noldcr will ~hen round ~he result ot' ~his addition up th~
nearest One-eighth a( one per~entage point (0.125°'.). This rou~ded amount .~~i11 be my new intcre~t rate.
The Note Holder w~il) then de~ermine the amount of the monthly paymcnt that ~~~ould be suCSi~icn~ to repay in
full the principal 1 am ex~~ed to ow•e on the Ch•rnge Date in subsiantially ryual pa~•mcnt+ b~~ the mawrity date at
my new intaest rate. The resuU of this calculation will be ~he neK• amoum ol~ my monthly paymrn~.
(D) Effective t~te of Chanqes
My new interest rate will berome effective on earh Change Date. I w•ili pa~• ihr amoun~ of my new~ manihly pay-
ment beginning on tl~e first mon~hly payment da~e after the Change Datr un~it ihr amuun~ c~l my niunthly paymem
changes again. -
~ (i:) Nooice of ~han~es
The Note Holder w~ill mail or deliver to me a notire txl'orr each ('hunL~ I)aie. -~h~ nuiicc ~~ill ad~•i.r me ot:
(i) the new interc~+t rate on my loan as ol' thc Changr Da~c;
(ii) the amuunt ot' m>' monthly pa~~ment follo~~ing thr Ch:,ngr l)at~:
(iii) any additic~na+ maucrs which the Notr Ha1Jcr i. r~~uircJ ~u di.rlu•c: auJ
(iv) the tittc and tctrpliun~ nomtkr of a~xr.c~n ~~hci ~vi11 a~ti.~~rr :u~~• yu~ti~i~~n I ntac ha~~ r~~:~rJing th~ n~~1ic~.
B. CNARGES; t.lE~iti
~ Uniform Co~~enant 4 0l' ~he Sc~urit~• ln.trumcnt i. asncnded to reaJ a. iuUu~~~:
~ 4. ChsrRes: Utns. Borro~~~er shaf! ray all tarc~+, a•+r+~men~~. a:~d a~hrr ~hcire~~. tinr• an~ i~»~?.i~iun.::iirihutahi~
~o the Property Nhirh may ~~~ain a ~rioriiy ei~~cr t!ii. Sc~vrity Insirun:.n~. an~l Ira,~huld ~~a~~mcn~, ur ~ruund renl•,
it' any. in ~he manner pn~~~idrd undrr paragrarh 2 hrreof or. it ncn pai~l in .u~l~ n~anner, h~ I;urra~~cr making ~a~~-
ment..~hen duc. ~Jir~~.~ly tu the payer thrreul~. 13urro~~:r +hall prontp~h• 1'urni.h t~. I cn~rr all nc~iic~~ ul .imuun~. dur
under this paragraph. anJ in thr c:en~ BorroWrr tihall rnake ~+a~mcm Jircc~l>. 1i~~rn~~~~r .~~ait r«?~„r~~. iu~~~~•n ~~ti
Lender re~eipt~ c~•idcn~ing ,uch pa~•ments. Borro~~cr ~hall prom~tl~• si.~h:scLr a~ti> ti.~~ ~.I~i~h lia~ ~1F1~1f11\' ll\t'T 1I11?
Securi~y Instrument; hoHC~~cr. Borrow~er ~hall not tx rryuirrJ ~c~ di.~hare~ an~ .u.h lirn .u lun~ a. li~~r~u~~rr: l;~l ~h.~~~
~ agree in v?~riting to !he payment of t~~li~ea~ian +utiur~YJ b~• tiu~h lirn in a mann~r a«r~,.:ihl. u~ 1 cndrr: (h) ~I1JII IIl ~lkKl
a2207640-0f~~ 1~ ~1 ~I fONn - AWUiTAM.E IOAM 1U?TE
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