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NON-CONVERTI~LE ADJUSTABLE ItATE RIDER '
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(INTEREST RATE LIMITS) '
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TNIS ADJUS'~A~LE RAT~RIDER is a~a6e thu 20TH day ot Au~usT ~ 986 ~
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and is iacoryoratod ieto ai?d sball be damed to amend and:uppkment tbe Menp~e. Deed ef Trust. or Security Dred, (thr "Socurity j
Instrument'~ of the same dalc given by tl~e undersigned (the "8orrower'~ to securc Sorrower~ Adjwiabk R~te Note (the "Note'~ to ~
HAR90R FEDERAL SAVINGS ANU LOAN ASSOClATION (the "l.ender`~ of tbe ssme date and covering the propcrty ;
describe~ in ttre Security lnstrument snd located at:
S$5 TM1G AVENUE PORT ST LUGIE. FL. 33~+52
(Prop~rtY Addressl ~
The No~ conlslns pro~r(sto~s aliowin~ for ~any~s tn tiw inMnst rs~. M the ~
i~br~st rab incrrws~s. ~ Bonorn~rs monthiY ~Salnr~~b wiH bf hi~h~r. ff th~ i
in~nst ra~e decnas~s, tM Borrow~~'s monthlY P+l~~b wIH b~ lorr~r. i
ADDITtONAL COVENAN'!'S. !n addition to the coverunt and sgreements made in the Secucity Instrutnent,
8orrovMer and Lender further covenant and agroe as f~llowa:
A.INTERE~T RATE AND MONTNLY PAYMENT CHAN~ES .
The Note provides for an initiat intercst ate of 8~ 5~p y~. Section 4 of tbe Nou provides for c6anga in the interat rate and
thc monthtY paymeats, aa [otlows:
4. INTEREST RATE AND MONTHLY PAYMENT CHANGES
{A) C~e Data
The intercts rate 1 wil! pay may change on tt~ fi~st day of SEPTEMBER ~~9 8~ , and on that day of the month every
TWELVE moaths thereafter. Each date on rahich my iatemt rate could change is calkd a"Change Date."
(B) Tlu iade:
Beginning vrit6 th~ fint Chaage Date, my interat rate will be based on an "lndea."The Index ia the wocldy average yield oa United
States Trcasury socuritirs adjustM to a corutaat maturity of ~E years~ as made availabk by the Fai~ral Raerve 8aard. The
most roant Iadex figure avsilabk as of 45 days beforc each Change Date is calfod the "Current Index."
If the tridex i~ no lona+er availabk. the Note Holdet wiU choosea new Index which is based uponcomparabk iaCormation. The Note
Holder will givt me notice of iu choia.
(C) Cakutatlos ot Ciua=a
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Before ach Cbangc Date, the Not~ Holder wiU cakalate my aew interat rate by adding ~
THREE AND 25/100
pcrantage points ( 3,7~) to the Curnnt Index. Tbe Note HoWer will theo rouad the rault o[ this acldition to the nearat
one-eig6t6 of one peranta~e point (O.12596). Subject to ti~ Limits stated in Section 4(D) belaw. this rounded amount witl be sny new ~
interest rate until ihe aew Cfiaage Dste. .
The Nate Holder wil! then determine the amount aitGe monthly payment that woukf be:ufficient to repay the uopaid principal
that 1 am cxpoctod to owe at tlx Change Date in fuU on the maturity date at my new interat tate ia:ubstsntially equsl paymeots. 7be
resutt ot tt~is cakulation pius any nequired monthly acrow for ia~[a and 'eatucana will be the new amount of my monthly paymeat.
(D) I.imib oa IMuat Rsu C6~a
The rate of interest t am roquirod to pay shall aeva be increaaed or decresaod on any sinale Changc Date by more than
~p perantage poiass ( 2~ from t6e nte of interat t have beea paying for the preceding
71dElVE months. My interest rau alsa shall never incnax more than F 1 VE
perantage points ( 5.00%) from tbe fully indexed rate o! 9•3~5 q~. My interest nte shall never decrease below the
intsrest rate atablishe~ in pacagraph A ot this instrumens.
(Ej FBad~e Date ot C~a
My new interat rate wili become effcctive on a~ch Change Date. I will pay the amount of my new mone hly payment beginning on che
fint month{y payroent date after t!u Chanae Dote until the amouat of my moathly payment changes apin. •
(F7 Nodu ot C~n~a
"Tlu Note Holdu will mail or deliver to aK a notia bdore p?ch Change Uste. Tht notia wilf sdvi:e me of:
(i) the acw interest rate on my lw~n as of the Chanae Date:
(ii) the amaunt of my wonthly payment foilowiag tbe ChsrtEe Date;
(iie) Any additional mustcn which the Note Holder is requirod to disclose; and
(iy) the titk a~ tekpbone number of a penon who wiU seswa any quation 1 uay have re~arQin= tbe notioe.
~°qoK 512 Pac~ 9?(~ ~
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