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ADJUSTABLE RAT~ RIDEI~ ;
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Y..r Iaa.: - r~e~o~C .,~i ur. tatsn~ we. Ga
TH4S ADlUSTABl.E RATE R1DER i~ msde this 15~. . day of ~ . . . . . . . . . . . . . 19.8?., sod is
incotporated iato aad shall be damcd to anund and suppkment the Mort~a~e, Deed of Trust or Securicy Deed (the
"Securit Iaswment ~
~'ve b the underi
(~ed the"Borro~ to secure Sorrower's Adjusubk ttate
.
Note (cha "Note'~ .o ~C
:~iT. ~~Il~. . . . . . . : . . : ~1 . . . . . : . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (the "Lender") of the same date and coveri~~ tht praperty
describod ia the Security Instrument and loated at:
1500 SE PO~YAL C~I CII~ A-208, PaitT S'P. I~ICIE , FL 33452
I~~nY
THE NOT~ CONTAlNS PROViS[ONS ALLOWING FOR CHANGES lN
THE [N7ER~.S'i RATB AND TH~ MONTHLY PAYMENT.
_ AnotssoNns. Cov~~xis. ln addition to the covenants and agreements made in the Security Instrument. Borrower
and Lsnder further cove~nt as~d ~~rce as !'ollows: _
A. INTEREST RATE AND MONTHLY PAYMENT CHANGES
The Note provida for an Iaitial Interrst Rate of ,11 ,25, y~ Note provides for chan~ in tho interest mtt and the ?
monthly psyments. ss follows. ~
4. INtERF.ST RA'1'E AND MONTHLY PAYMENT CHANGFS; sOitROWERS [tIGH? ?O LIMIT PAYMENT t
(A) Cb~nfe Data
The interest rate 1 will pay may chsnge on the first day of Iq 86., ac~d on that day
every 12th montb therafcer. Each date on which my ineerest race could change is caikd a"Change Date."
(B) T6e Index
Beginning with the fint Chsnge Date, my intercst rate wili be bsstd on an tndex. The "Index" is the weeidy avera~o
yield on United States T~easury securities adjustcd to a constant maturity of 1 yoar. as made svailabk by the,Federal
Reserve Board. The most rcant Index figure availabk as of the date 45 days before each Change Date is ralkd tbe
"Current lndes."
If the [ndex is no longer available, the Note Hofder wiil choose a new index which is based up
n comparable
informaeion. The hote HoWer will give me notice of this cl~oece.
(C) Cakuladon ot Ctanta
Beforc each Cbsnge Date. the Note Holder will calculate m n intercst rate b addin 3.25
. . . . . . . . . . . . . . . . . . . . . . . . . . . percentage poinu ( . .~'c) to the Currcnt ndex. The Note Holder
will ihea round the result of this addition to the neanst one~eighth of one percentage point (0.125~b). This rounded
amouat will be my ~xw interest rate until the neat Change Uate.
However, my~nt~iest nte shsll never be incrcascd or decrcased on any single change date by morc than 00
i percents~e points 96) from the rste of interest 1 had t~ep8ayiag immediatety Qriorso it~e change date. and my
, rate of iaterest shsll never increase or decrease by morc thsn percentage points (.5: froru the taitial
E Interest Rau over the tecm of the Note.
~ The Note Holder will then decermine che amount of the monchly psyment that wouW be sufficient ta repsy the
~ uapaid principal that f am expected to owe at the Changc Date in full on the maturity date at my oew interest rate in
substantially eqwl payments.Tht resuft of this calculation wiA be the new amount of my monthly payment.
B. TRANSFEIt OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER
Unifona Covenant t7 of the Security Inswaxnt is amended to rcad as follows: ~
~ Trander ot the Pmpe:t~ or a HeoeDcW latersst Y Dorrowe~. if all or aay part of the Property ot any iaterat ia ic is
sotd oc tssasfernd (or if a benefici~al interest in Borrower is soid or tnasferred sad Borrower ia not a aatural psrson)
without Leuder': prior writcen consenc, Lender may, st its option. nquite immediate paymeat in full of sll suau secured
by this Security [nstrument. Hovrever. this opaoa:haU aot be exercised b~ Lender if sxerciu is prohibited by feders~l law
as of tbe dste of ehis Security 1 nscrument. Lender also shatl aot exercise thi~ option d: (s) Sorsoaver eausa to be submitud
co Lender informatio~ rcquired by Lender to evaluste the inteaded trsasfera u if a new loaa vrere bein~ made ta the
transferre: and (b) Lender reasonably determinea ttut Lender's security wiU not be impaired by the lasa usumptioo aad
that the risk of a breach of any covenant or a~nement ia chis Security Iastrutae~t is acesptabk to L.ender.
~ To the eatent permittad by applisabk law, Leader may charge a c~asonsbk fet as s coadiuon to Lender's consent
to the laan assumptioo. Lender a~y also require the tcaasferee to sijn sa as~umptioa a~roemeat tbst i~ acapubk co
~ Lender aad that obli~aces the transferee to kap aU tht promises and a~reemeau made in the Nou sad ia thi: Security
Instrument. Borrower wiU continue to be oblipted under the Note arfd this Security Instrument unless Lender relcases
Borrower in writin=.
wU1.TtiTATE ADJUfTA~i,[ M7'~ NDEA r... ~~w~rr s~~+. Fu~?- ~~wc wwoe+~ wwa,.~«~e
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