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• ~ • ~ ADJUSTABLE RATE RIDER
• cl YWr l~da - Aeriaa~o u?+a Ure lote~eu wb c.p~~
Ttt1s ~wus7'~sLB w~'~ iw8[t u m.ee d?~ 27THd'y DECEMBSR ~ 19 86 .
~ad is incaponted toto ~nd :hali be deEmed w sa~?d ~sd wppkaaeet We Matpja. Deed of 'ttust a Security Dood (the "Secunty
Instnunenl") of da asae 6~te ~vas by die uadetd~oed (tM "Bo~') a~ Bo~ro~we~'t Adjupabk Rue Note (the "Note'q a
GDV FINANCIAL CORPORATION. A FLORID,A CORPORATION
phe "Leade~ d the wiae d~te ~nd oovaing d,a pa~perty de~ibod io tbe Seairicy In~umca.ad locsted u:
2684 S. E. IBIS AVENUE• PORT ~~^~T.rtyL~C~~E. FL 33452 ~
THIS NOTE CONTAIlVS PR()VISIONS ALLOWIIVG FOR CNANGES IN THE
INTEREST RATE AND THE MONTHL•Y PAYMENT. .
Addwo~al Co.w.es. In addidca a~e ooveo~au,md ~groemeau m~de ia d~e Seauicy tnawn,ec~~ Barowet and Leoder further
ooveaanc aad agree u follawt:
p, DV'TEItEST ItATE AND MONTHLY PAYM~NT CHANGES.
11~e Nde provide~ fa aa Iniwl Interort Rste d 2 5'b. Tbe Note provda fa change~ in We intena nte aod We monU,lY P~Y~~.
as fdloan:
INTERFSP RAT$ AND MONfIfl.Y PAY114~'.NT CHAIVGES; BORRO~VER'S RIGRI' TO LIMIT PAY~TP
(A) Chan~e D~ta
~,c~ I.~~ ~.r ~.y ~°g° o" u'° r~a a~y ~r JANUARY . t9 8 g. =na on mu a~y e~ry u~n
monm mereatkr. Etc~, a.ee o~n arhich my inuna rue caule change u caued a"a~u~ge nate".
(~'lbe tadu
Beginoing witb We fir:t Qsaaga D~tte. my inteRat rata wiU be bssed on an Iade~c. 7be "Index" u ~he weeldy ave~age yieid on United
States 'Ihasury aewritiea adju~ted to a ooo~aat m~t~uity d 1 y~ear, as mide avsil~bk by tAe Fedent Resave Board. '['tise most recent Index
figu~e aviUabk u of tbe data 4S day~ bef~e acb (~aage Date it called tDe "Qunat Indcx".
If We Inda~c u no baget avsilsbie. We Note Holder will elwoie a new index whicb i~ b~sed upon compuabk infotrratioo. '[be Nae
Holder will give ms notioe of this d~oioe.
(G~ GkWsHae of CYae~a
Befare ach CMnge D~te. tbe Nate Holder aill cakulxe my uevv intere~t nle by addin8 3. 2'~ P~~~B°
p~v c 3. 2 5'~+) w the c~nt Inaeu. ~tbe tVece xolder w~71 mes .ame me ~ewu or thi~ aamcion w the oeareaa one-eig)dh or oae
percentage paioc ro.12s'b). 7hc. roundea amoune.viu ee my naR? idtarac ~te unw me next e~nge n~ea
However, my intereK rata dull Qever ba inacued a decrea~ed oa anY rin~e chaa~ed dase by more thsn 2. ~ 0
a~~ ~ c 2 . 0 0 ~ ~ ~ce a ~c««~ i ma e~ ~yms ~~r ~a c~ ~ a~ aua ~a my ~ ~ ~n«~c
neva increa~e or decreaie by mo~e ihan 5. ~ ~ Peranta~e Pdnu ( 5. ~ 0'~) fraa tbe Initial Inte~1 Rate over the tesm of t~e
Note.
71ie Note Hdder will then deter~mne the araouot of t6a monchly WYment that wwld be wfFicient to nPvY the ~aW id PnnclPal Wat I
am eacpeeted W oaro st the Cheage D~te in full an tbe m~huiry data at my newr iaterest rate in mbWaMiaUY equai P~yme~. 'Ihe reauh ot tltis
alculation will bt t2~e new amouat of my awnthlY W~~
B. TRANSFER OF THE PROPERTY OR ~ BENEFICIAL INTEREST IN BORROWER.
vnif«m co~en~nt t7 ot Q,e seauicy Instcumeae i, ameadee w~e as tottows:
I` Tnader of We AropertJ or s Besefidal Ieterat ts BoROwer. U aU or any put of ~he Property or ~ay interoat in it is sold or
transfemd (a if a benefidal intaat in Bocrowef it sdd or trandcrted aad Dortower is eot a natunl pecwn) without Lender't prior wriu~
oonseat, Leoder msy. u itt optian. re4uiie immediate pryaxnt in ffill of all wmt ~ewred by thi~ Sewrtty In:UUment. Hawever, this option
ahall not be ea[ercised by Lender d eateraEe is pc~'bited by federsl la~v a of the date of dris Secvrity InsUU~tna~ L.ender also shall not ezercise
- thi~ option d: (a) Boteo~rer cawes w be wbmia~ed W Lender intom~atiao ~quiced by L.ender w evaluate ~he intended Uantfetee u it a ocw laaa
w~ae being made W We trandaee; sd (b) Leoder teasooably detsm~inea tb~t LendePt iecurity wili mt be impaired by the ban asaunption and
that tha risk of a bnach d a~r eovestnt or a~rCCayent in thi; Seauity In~tn~mcot is scceptabla W Leader.
To the extent permiaed by applicaWs law. Lead~r may charge a riasoaabk fee u a aondition w Leade~: ooo:e~ W the laan
acsumption, l,eader may a!w tequfre s6e tranda~ee W dgn m a~a~ption agreettxet that is ~bk w Leader and that obligates the
tnnderee w tap aU ~s pro~ni~es md sg~ementt m~e in the Nate and in ihi: Seauity In~wmeaL Barawa will oontinue to be obligated
under the Note aad thi~ Seaui2y InsWment udat Leada rdates Bortvwer in wrfting.
if L.enOu exercisa tbe aption to require immediate payment in faU, Lender di~ll givs Bormwer notica of accekratioa. 'Ihe notia
sha11 Qmvide a period d not le:a than 30 day~ fmm tbe due the natiee u delivend ar msiled within which the Bonower must p~y aU wms -
~ecuied by mit Seaxrity In~wme~t. U Bonowa tsit~ w py tbete aon~ prior w~e expiraGoa of tW~ period. Lender ~my invoica any remedies
~
permittcd by tldt Socnrity Iamumeot ~vithout fiuthet notice or dem~nd ou Borroqver.
~
_ BY SIGMNG BELOW, Baiower sooepu and ~groes to tbe tams and oorenaau connined 'm this Adjuatable R~e Rider. -
Wimeat the hmd(s) and:eal(t) otthe undeaigned.
5
~ `~7W~ V /
F ANR A. BENNETT -BORO'"'~* MARJORIE . BENNETT 'BOR~~
(sa~)
-gp~i -Borro~wsr
(Sian Ori;uaol OnIYI
MUL77STATE ADJUSTABLE RATE AIDER • 1 Yar Trawr~ Index - Singk Family - FNMI,/FHLMC Unlforn~ Iastrument
iS402-67 6/84 PR
. ~053 f ~sE0989
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