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Home My WebLink About0927 ~ : ~ - ~ , NON-CONVE~tTI~I.E AD~TUSiTABLE ~tATE ~LIDEB ~*~_ri~'an!~ Q~TR T,~jTg~ 50-23244Z60 THIS ADJUSTABLE RA'lE RIDER, !s made this ~~T~da,y of a1~r8M8~tR 1986 and ls incorpor~?ted irito und ahalt be deemed to amend ~u~?d aupplement the Mortgage~ Deed of 7lruat, or Security ~ Deed~ (the "Securlty Inatrument") of the s~me date gtv~ by the undersigned (the "Borrorvver") to secure Borrovrer's A~just~ble R~te Note (the "Note'~ to HAR~OR FEDERAL SAVINa3 AND LOAN A3.SOCUTION (the '~ender') of the same date and cov~ering the pmperty deecrlbed in the Security Instrument and located at: 4711 S II~IDIAN RIVBR DR FORT PIBRCB, 1Z. 33450 (Pt+Opeity Addresa) ~'Th~_ No~ contNns provisions ~1lowi~ tor ~Sn~rs in tho Inl~fest rat~. N the ~ fr~Mr~at rata incrwrses, the Borrowrrs ma~lhty Psymsnb wiil b~ ht~lwr. It tho ~ Int~rest rst~ decroas~s, the BoROwer's monlhlY paymenb wiil be tower. ADDITIONAL COVENANI'3. In additbn to the covenant and agreements made in the Security Instrument, Borrower and Lender further cov~nant and sgree as followa: - A. INTEliSBT 1tATS AND MONT$LY PAYA~NT CHAN(iE8 11?e Note provldes for an initiai Inter~st rate of 8.000 916. Secdon 4 of the Note provldes for changes ' in the interest rate and the monthly payments, as follm~vs: 4. IN'!'EREST RATE AND MON'IHLY PAYI4IENP CHANGES , (A) ~ge Datie~ ~ The Inter~st rate I wi~l pay may change on the Srst dayof ~~8~ ,19 87 , and on that day of the month every ~L~ months thereafter. Each date on which my lnterest rate could change is cslled a ilfl$(1~. il~Kw• (8)1be Iodez Beginning wlth the ftrst Change Date, my interest rate wlll be based on an `Index'. 71?e Index is the weekty ' av~erage yleld on United States Tceasury securities ac~usted to s constant maturlty of 0~ years, a~ made available by the Flederal Reserye Board. ~e most recent Index flgure available as of 46 days before eaeh Change = Date is called the "Gtirnent Indes". ~ t Ig the Index is no longer available, the Note Holder wW choose a neRr Index which 1s based upon comparable ~ informadon. '!he Note Holder will pv~e me notke of its choke. . ~ ~ ~C) ~n of ~ ~ Before each Change Date, the Note Nolder'will ~calculate my new interest rate by adding ~ 1~ID 75/100 ~ percentage poNts ( 2.75 to the Current Index. 'Ihe Note Holder will then round the result of this 4 addition Lo the nearest one-eighth of one percentag~ point (0.126X). Subject to ttie llmits stated in Section 4(D) bebw, thia munded amount wiIl be my new interest rats until the new Change Date. ZT?e I~iate Holder wll! then determine the amount of the montky payment that would be sufficient to repay the s unpaid principal that I am e=pected to owe at the Change D~ate in full on the maturtty @ate at my new interest rate in substantlally equal psyments.lhe resuk of this calculation plus any required monthly escrow for tases ` and insurance wlll be the neve? amount of my monthly psymen~ s . (D) Lmib on iutereat ~ate (~an~ea ~ ~ 'Ihe rate of interest I sm requieed to pay shall newer be incressed or decreased on any single Change Date by ~ more than TMO.~ percentage points ( 2.00 X) from the rate of interest I hav~e ~ been psying for the preceding ~SLVS months. I1+~y ft?terest rate aiso shall never Increase more than glVg percenLage points ( 5.00 from the fully indexed rate of 8. 500 ~i. A~? inLerest rste shall nev~er decrease below the interest rate establlshed in paragaph A of this instrument • (E) ~S~ctfve Date oi C~an~ea Myr new Interest rate wiU become effectiv~e on each Change Date. I wlll pay the amount of ~ry new monthly psyment beginning on the Rrst nionthly payment date ~fiter the Change Date untll the amount of my monthly payment chan~es ag~ain. - ~ ~ Notice e[ ~a~ea . : . ~ F 'Ihe Note Holder wlll mail or deliver to me a notice before each Change Dste. The notice ~vill advise me of: ~ ~ (i) the new Interest rate on~ iny ioan as of the Change D~tte: ~ (ii) the amount oi my monthty puyment followtng the Gfiange Date; ~ (f1i) Any additional matters ~rhich the Not$ ~older ia requinBd to di~close; and j ~ (iv) the titie and telephone number of a pereon who wlli answ~er any questlon I may have regarding the ~ not~e. . ~ Il~t ~Ho~re+aw~er lias azec~ed ~ ADJtIBTABI.S BATB Qider. ~ ~Ai 1 :00 ~ ~~~.4~1; . F';~.E~ k~~' ~~_f ~~t()~~ L r co OOUG(.~S CiX ~~N ClERK _ ST. LUClE COUN ~ Y, ~ ~ ~ ~RE--RECORD u~ra s a~~s ~ • Luc'ie Count~ - ~ ~ . ~0 S 3 ~t ~ PA6E0 9 2 ~ ~"o,~`~`` °x`~,' _ s~~ } _ -r = - t - ~ _ - ° ~ . . _ .