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Home My WebLink About0938 r ~ ~ f . , . ~ ' . ~ ~ ADJUSTABLE RATE RIDER • (1 Yar tsi.: PMrioiie.u~ Liit L~t~at ttsa Csp.) ~ THIS ADJUSTABI.E MTE RIDER is aasde this . 2and. day of . . .Octobe~ . . . . . . . . . . . , 19.85., and is ` incorporated iato ~ad shW be damed to amend and supnkment the Mort~a~e. Deed of Trusc or Secu~ity Deed (che "Security Instrumeat'~ o[the x~e date pvea by tbe uadmi~ned (the"Borrower") to securc Bonowe~'s Adjusubk Race Note (t6e "Note'~ to .GA~ .Finan~.i.al. Corposation,. a .Cor.poration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (the "Lende~") of che ssmo date and coverin~ the propeny describ~d in the Security Instrument and lo~ted at: . 1518. SE .Royal Green_Circle .J-204,. Port. St._ Lucie, Florida.. 33~+52... . . . . . . [Propeny Addrcss) THE NO?E CONTAINS PROVtSIONS ALLOWING FOit CHANGBS IN THE LNTBREST RATE AND THE MONTHLY PAYMENT. Aoomav~~ Cov~,~rjrs. In addition to the covens~ts and agreemenu m~de in che Security Instrument, Borrower and Lenda further covenant and agree as [ollows: A. INTEREST RATE AND MONTHLY.PAYMENT CHANGES The Note provides for an laitial Intercst Rate of .~~..~5.46. Tht Note provides for chan~es ia the interest rate and the monthly paymenu, as follows. 4. INTERFS? RATE AND MONTHLY PAYMENT CHANGFS; ~ORROWERS RIGH7 TO LIMIT PAYME.~1T (A) Chaais Data The interest rate t will pay may change on the first dsy of . Plovem~her. 19$6. and on tbat day every 12th month the~fter. Each date oa which my interest rate could change is caikd a"Ctunge Date." (B)1Le Inde: ` Beginnin~ arith the fint Chan~e Date, my interest nte will be based on an lndea. The "Index" is the weelctyavta~e ` yield on United Suta Treasury securicies adjusted to a consunt maturity of ! year, as made avaitabk by the,Federal Reserve Bosrd. The most recent {ndex Ggure availabk u of tht date 45 days beforc each Change Date is calkd the "Current Index." If the Index is no lon~er available. the Note Holder wil! choose a new index which is bascd upon comparable informaeion. The Ivote Holder will give me notice of this choice. . (C) Gkuladoa ot Cha4~cs Before each Change Date, the Note Holder will calcutate my new interesc rate by adding .,.3' 25 ' • • • • • • • . . . • • . . . . . . . . . . . . . . . . . . . . . . . . . . . pe~centage poina 3 :25. . to che Currenc lndex. The Voce Holder will then round the rcsult of this additioa to the nearest onetighth of one percentage point (0.125°6). This rou~ded amount will be my new intercst rate until the next Change Date. Hoaever. my intarest nte shiU never be incrrased or decrcased on any single change date by more than .~,00• • perconta~e Qoints . 2.00. from tht rate of interest 1 had bee~ paying immediat~ly prior to the change dau, and my race of iaterat shall aever increase or decrease by more chan5 ;00. ,,,~nentage points ( S...pO• g6) from the Initial Interest Rate over the term of the Note. ' The Note Holder will then determine the amount of the monchly payment that would be sufficient to rcpay the ~ unpaid priacipal that t am expected to owe at the Change Date in full on the maturity dace u my new interest rate in ~ substantiaUy equal paymenu.The result of this calculatian will be the new amount of my monthly payment. ~ 6 k B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER l;nifonn Covenant t7 of the Security [nstrument is arnended to read as follows: ~ ?*snder o[tbe Propertl or a~eLl [nt~rat io dorrower. U all or any part of the Property or any interest in it is ~ so:d or transferrcd (or if a beneficial intercst in Borrawer u wk! or transfernd aad Borrovrer is aot a natural person) ~ wichout Lender's Qrior written consent. Lender may, at its opdoa, requirt immediste psyment in full of aU sums secured by ehis Security Iastrument. However. this opaoa s!?sll not be exercised by Lendtr if exercise u prohibitod by federal IaM ~ as of the dste of this Security Instru~r~ent. Lenderalso shall aot exercise thit optioa if: (a) 3orrower cause; to be submitted to Lender information required by Lender to evalustr the interded transfereo af if a new loan were beini made to the f transferce; and (b) Lender reasonably determines that Leader's security wiq aot be impsired by tix loaa assumption snd ~ that the risk of a breach of any covenant or a~reeenent ia this Secwity inswment is acceptabk to t,ecu~er. ~ f To che eaeene permicted by aQpiicabk taw, Lender may char~e a cs~sonabk fee u i canditioa to Lender's consent ~ to che lo~a auumption. Lender may also rcquire tht tnnsfera to si~n an sssumption a~rament that is acceptabk to ~ Lender aad that obli tes the transferee to ka all the romises and a ~ ~ P P Srtemenu made ia the Note and in chis Security ~ Instrument. 8orrower will continue to be obli~ted under the Note aad this Security Instrumeat unkss lender rekases ~ Borrower ia writing. ~ I ~ YULTISTAT~ AD.xJSTA~i,S MTt RIDEl1-1 Y~ TnMUry MdMC - Si~qN F~ns~ir - i'NIWiM~MC t~Nwo~~ MMna~k ~ ^ ~ j ' ~ ,sa~ w. ~ a~ox ~~o PACE ~a ~ of z ~ - .r , . _ ..._.,y ~ - - - - - . . _ _ _ ; ~ - - ~ - - - _--_-1 _ _ ~ _ - - ~