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HomeMy WebLinkAbout0958 t . } ~ ~ - ~ - D USTA]BLE RATE ~IDER ' ~ . nnic~o~?~M~ A J ~ ; (Interrst Rate Lim js) ~ ; ? 'I fllS AD1Uti"I Atll.F: RA TE RIDER is madc ~his day of 19.$6..., and i~ inrurh~~rair~ in~u and shall tx deemed t~~ amcnd and suppiement the Mortgage, Deed of Trusl, or Deed to Secure [)rh~ (ihr "Sr~urity lnstrument"1 0l' the sam~ ~ate~~g~iven b the undersigned (the "Aorrower") to secure Borrower's A~ijustahlc Rttte Nutr tu SU.TI~!U1NT..SAV~S. ~~Sr.... ...............................(the "l.~nder") of the same date (tht "Note") and rovering the ~roperly d~srnt~d in thr Serurity lnstrument ~nd located at: ~ ..9400...90U'I~i. AlA ~9fl4B,...JENSIIV, BFACHr...FI,ORII~..33457 ~ . . ~Property Address~ ~ ~ ,y The Note contains provi;ions allewing for change: in the in~erest rate every y~ar subject to the limits sfated in the Idofe. If the intere~f rate int~eases, fha Bo~rower's monthly payr?9enfa vorlll be higher. If the intere:t rate decrea:et, fhe ~ Sorrower's monthly payment: will be lower. ~ ~ Auull loti.~1. ~ c~~ F:~.~~ t:ti. !n a.iditiun t~~ the ro~~en.~nlti an~f agrernients made in the Security Instrument, t3urrow~er end l en~ier furthrr ~~»rnani and agree as follow~: ~ A. INTERF.ST RATE AND i~tUNTHI.Y PAYMENT (.'HANGF.S ~ The Notr ~~r~~~ ides fi~r un iniu:il ~iurres~ r.ite ~~I .........8.~2.`~.0...~~ . Srcuem 4 uf the Nate pro~•ides for changes in the interest ~ rate and thr m~m~hl~ pa~ mrnt~, .is fi~ll~~ws: ~ "4. INTEREST RA7'N: ANI) ;11UN"THLY PAYM~:N'I' CHANGF.S (A) Changc Uates = The interest r.itr 1~•ill ~~a~ may~ rhangr un thr fint Jay ~~f 19....87....., and on thcit day ~ r~ery I?Ih month there,ifter. t:.+rh dalr ~m ~~•hich m~ inlrrrtil ralr r~?ui~t chan~;r i+~•alle~l a"Chang~ Datr." ~ (B) The Index I E3eginning Hi~h the first Changr [)a~~, m~ in~errs~ ra~r ~s~ll br bu~rd on an In~1ex. The "Index" is the weekly average ~ ! yteld on United States ~I~rea~ury securiues ~djusted to ~ r~mstant maturit~• i~F I yeer, as made available by the Federal Resen•r Board. The mutil r~rent Inde~ figure ncailahle as uf the date 45 days brfore earh Change Date is called the ~ "Currcnt Indrx." I( the Indea is no Ic~ng~r :~~:~ilabi~, the Nutr He~lder ~~ill chuc?,r a new index whfrh i~ basrtl upon comparable information. The Note Naldrr w ili gi~r me n~~nre of this rhi~ice. (C) Calculation of Changes 3Be~czrg earh Change Date, thr N~?tr H~~Idrr w~ill ralrul~itr my nru interr~~ rate b~~ adding ....3..OO~~rcentage poinis - tii the Currrnt Indr.~_ Thr N~~~r H~~Ider will thrn ruund thr n`uli ~~f this eddition to ~hr nearest one-eighth ~ of one percenlagr point (0.1?S~~ Suh~rrt ~hr limil~ ~~atrd in Srctwn ~(D)txlow, ~hi. rounded amuunt w~ill be my new a in[erest rate until the next Changr [)~~r. ~ The Note Hulder ~~iU ~hrn drtrrminc ~hr ,inu~un~ ~?I' ih~ me~nthl~~ pa~n~enl thal ~coul~J be tiufficirnt ti~ repay thr ~ ~ unpaid prinriral h.~l~n~e uf m~ luan I arn r~~kr~r~l t~, ~~u~r „n ihr ('hangr t)atr ui full ~m the niaturily datr at my new interest ratr in sub~tanh.ill~ ~yuc~l ra~mrntt l hr rr.ul~ ~~I th~. ~:~I~ulau~~n w~11 hr thr nrw ~imc?un~ «f my mi~nthly payment. (D) I.imit on Interest Rate ('han~es The ralr ~~f inlrre~i 1.im rryuire~i t~~ ~~ay ,h~+ll nr~rr hr inrir.i~r~i ~~n ~n~ .in~:lr C'hcinge Datr b~~ mi~re than on~~ ~ prrcentage ~oint ( I.0~: )(~Cw~~ rcrren~agr ~~uin~.l'.(1'': hrck nn/~' nne~•bnxJfmm AIhc r~Ir ~~f interr~t 1 ha~~e fxrn ~aying for the prereding ~wrltir munlhti. M~ intrre,t ra1~ alti~~ ~hall n~'\t'f Ilt ~;ft'81Cf Ill:lll ..~"l.3Q.Qa:. ~ (E:) Fffective Date of t'han~es ~ My new• inlerc~r~ ratc u~ll he~•i~mr rfTrr~nr i?n r:~ch ('hcingr [)atr I will thz aniounl ~~f my nrw~ munlhly reyment heginnmg i?n the fir~t munihlp ra~nirn~ ~la~r .if~rr ~hr Chang~ t)aIr unul th~ anu~unt c~f m} m~~nthly~ ~aymenl changes again. (F) ~otice of Changes The Notr H~~Idrr aill mail ~~r ~irli~rr t~~ ni~ :i n~~ii~c ~,I aii< <h:in~~•~ in ~hr amuiuit ~,f m} m~m~hly ra~~mrnt hrG>r~ thr cfi~eclive date ~t an} rhangr. Thr nnurc Nill inrlude infc~rmaUi~n rryuired h~ IaN 1~~ br gn~n mr and al~i~ ~hz lillr an~l ~ telephonr numtxr ~if a~rr~un ti~h~? ~tiill an,µrr an~ yur,u~,n I nu~y h:i~~ rrg,inling Ih~ n~~tirr B. CHARGF:S; LIENS Uniform C~~~enan~ ~~~f the Srrunt~ In,irumrn~ i.:unrn~lr~l rra~i :i~ I~~Ilc,ti. 4. Charges; I.iens. H~irn~wcr ~h~ll ra~ all I.iar~. u.,r„m~n~,, .ui~l ~~thrr rhargr.. linr, .ind ini~x?.i1i~m.:iurih«I.ihlr t~~ Ihc i Pro~rerty which ma~ ~t~a~n r~~~,~~~> „~~r ~r~„ s«~~,~~~> i~~.~~~~»~~~~. an~i Ir.?.rh~?I~l r~i}'m~iN~ ~~r Kr~~un~ r~nl.. il~an}. in Ihr ~ ~ manner rmvided undrr rar;~grarh 2 hrrre~f ~,r. if nu~ ~ai~ in ,urh mannrr. hy 13urruw~rr m.i~ing ra~mrnl. whrn dur.~ (,l-j . dirertly lo Ihe ~~~rr ~hcreuf. li~~rn?wrr ~hall rn?m~,lly~ I~urni~h 1~? Lcn~lrr ;ill n~?lirr. ~~f~:~muunl. ~iur un~lrr ~hi, ~:ir:i~;ra~h. ~ and in 1hc cvrnl !3~?rr~~urr ~hall mal.r r;~pmrn~ ~irrrtly. ~3~,~~~~~~« .f,~u ~~~~~»~~i~ r~~~~~~,t~ Lrnilrr rrrr~rl. r?i~lrnr~n~; O wch raymenlti. Hnrn?wcr ,hall rr~?mrtl~~ ~ii.rhargr :iny lirn w•hirh h.i, rn~~ri~y~ ~~~rr thi. Srruri~y li~.lrumrnt: ~~r~~~ iiir~l. ~ - ' Iha1 H~irn?wcr ~hall n~~1 hr rcyuirrd 1u ditichargc :uiy ~u~•h lirn lim~ ~i~ 13urn?u•rr: ,h~ill :i~rer in w~ril~n~ t~? Ihr " 1 ~ raymcnl c?f thc cihligalinn .crurcJ hy,urh I~rn ~n a ni:u~ncr <<rrrrt:ihlr I„ I.rn~rr. Ih?.h:ill in ~~xxl I:ii~h r~u~Ir~l .urh hrn p hy, c?r dcfcnd abain.~ rnf~?rrrmcn~ ~?f wch lirn in. Icgal rr<xrctiin~;~ ~'hirh in thr ~y~im~~n ~?1 Lrnikr ~qxr:ilr t~? rrr~~rnl Ihr C\! cnG?rcrmrn~ nf thc Grn ur fi~rfriture ~?f ihr I'n~~xrly ur ,~~~y~ ~:~r~ ~hrrr~?!': ur (rl.h;ill ~rrurr I'rum Ifir h~~tilrr ~~I wrh lirn :~n ~ agrecmcnl in a G~rm tiali.lac~+~ry~ t~~ I.~nc)rr,ulx?r~in,~ung ~urh Grn Iu ~hiti krurity I~i.trui~~rn1 ~ 1~ (,~ndcr dcl~rm~nc~ Ih.~l ~ill ~?r an~~ r:~r1 nf ~hr I'ru~xrly i~.uh~rrl ~~?:i firn whirh iiiay :i~l:ui~ :i ~,ruu~il} ~~~rr ~In. Srrun~~ o"' ~ In~lrumrnl. Lr~i~rr.hall ~cn~ liurnti~vcr n~~~irc i~rnlifyin~;.urh lirn. Ii~~rn?wrr.hall .:iu.lj .urh lirn ~~r t:il~r ~mr ~,r inurr ~,I' - Ihcarli~?n.~rl li?rlh ai~~?vr w~ithin ~cn ~l~iytii~f~lhr~~v~n~; ~,I~uiHirr. ADlUSTABIE RA1E R1DER~lAns A-2 tsnd A-3-1-4 family---9 83-FNMA Uniiorm In~trument 10371697 ANA2 ~