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NOTICF.: THE SECURITY INSTRUMFNT SH:CURF:S A NOrTE WHICH CONTAINS A PitOVISInN A1.IAWING
~OR C~lANGFS IN THE INT~RF.ST RATF.. IIYCREASF.~ IN THE INTEREST RATE WILI. RFSULT IN HiGHER
PAYA~iENTS. DECREASF.S IN THE INTF.RST RATE WILL RFSULT IN IAWER PAYM1IENTS.
This rider ~s madc this 20th....... day of ...........................Novetaber.................., 19...86....:.
and is incorporatecl into arxi shall be deemecl and supplement the Mortgage, Deed of Trust, or [ked to Secure Debt (the "Security
Instrument") of the same dnte given by the undersigned (the "Borrower") to secure Borrower's Note to First Cltizens Federal
Savings and I.oan Association (the "l,ender") af the spme dote (the "Note") and crnering the prope~ty described in the
Security Instrument and located at ...........~049 Fairway Drive, Ft. Pieree, Florida 33482
Property Address
Madlfieattons. In addition to the covenants and agmements made in the Securiry Instrument, Borrower and Lender fur-
th~r covenant and agree as follows:
A. INTEREST RATE AND MONTHLY PAYhlENT CHANGE.S
The Note provides for an initial interest rate of ........8'~~...~o. Section 4 of the note provides for changes in the
interest rate and the mon?hly payments, as follows:
4. INTERESI' RA['E AND h40NTHI.Y PAYMENT CHANGFS
(A) Change Dates
~ The ~nterest rate I will pay may change on the ls t day of Deeember . 19 87 .
,
' and on that day of the month every ...12months thereafter. Each date on which my intenest rate could change is called a
"Change Datc:'
(B) The Index
s Beginning with the first Change Date, my interest rate will be based on an "Index:' The Index is the weekly average
:
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~ yield on United States Treasury securities adjusted to a constant maturity of ~n~..... years, as made available by
~ the Federal Reserve Board. The most recent Index figure available as of 45 days before each Change Date is called the "Cur-
~ rent Index:'
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~ if the index is no longer availabte, the Note Holder will choose a new index which is baszd upon comparable informa-
~ tion. The Note Holder will give mc notice of its choize.
~
~ (C) Calculation of Changes
~
~ Befare each Change Date, the Note Holder wiU calrulate my new interest rate by adding , Two and on~r~ge
~
a ~ 2.50 c~~ to the Currcnt (ndex. The Note Holder will then round the result of this addition to the nearest
one-eighth of one percentage point (0.125`Yc). This rounded amount will be my new interest rate unti! the next Interest Change
Date. The interest rate adjustment may l~c; in the form of a rate increase or a rate decrease. ~iy first interest rate adjustment
will be limited to .........2~~~..`yo. My interest rate adjustments thereafter will be limited to ........1.00,,.~,, pver the
term of my loan, my interest rate wi~l never exceed Z 3..Q0,
The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay in full the
principal I am expected to awe on the Change Date in substantially equal paymer~ts by the maturity date at my new interest
rate. The result of this calculation wili be the new amnunt of my monthly payment.
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~ (D) Effectire Date of Changes
{
f My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment
k beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again.
E
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~ CAP 1iO~iF. ADJUSi'ABLF. RATE `tOR7'GAGE RIDER - tTREASURY tNDEX - 7~8s?
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