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ADJUSTABLE RATE RIDER
' (lnter~~st Rate Limits)
;
day of 19.......
'fHIS ADJUS~'ABI.E RAT~ R1DER is mude this ~ ~u' 87 ~
.~nd is incc~r~x~rat~~l i~to and shall t~e. dcemed to amend and supplement the Mortgage, i)eed of Trust. ar De~ed ro Sccure ~
U~bt (thr "S~,~urity Instrumenl") ot the same datc grven by the unde~signed (thc "Borrower") ta secure Borrower's
...............~NP~1~1'~'..,SA.V~1~'i£.~1KR...
.FS~ '
Adjustable Rate Nute to ~
:
....................................`...............................................(the "[.ender") ot !he same date (the "Note") and covering the ~
property dncribed in the Sc~:urity Inslrument and located bt:
....155fl..S..W....BAY~.BLYD~. f..~BT..ST...I~IQE,,..Fi~iIIA..~~!452 ;
~ (Property Address~
;
i
The Note contains provision: allowing for changes jn th~ Inl~reaf rote every y~or ~
:ubject to the limit: sfated in th~ Note. If the 1nt~~est rot~ incr~ases, fb• ~
8or~ower': monthly payments wtll be higher. !f ihe Inferesi rafe d~t~ea:e:, the
Bor~ower's monthly poymenls wjli b~ lower.
ADUI~~ION.~i. ~~o~t:~~~r~. In ~.Idition ~o the co~•enan~s and agreenfrnts made in the Secunty Instrument,
~rrower and I enJer furthrr ~o~rnant :~nd agree as fotlows:
.~•=T~.~o~~ DsTF sNn M[)NT~{I.Y PAYMENT CHANGES
A• ii ~ i a.a....~ ~ _
The N~tc pr~~~ idc~ for an inuial in~rrest rate ~~f .........7.t500 ~~~~~~n 4 vf the Note provides for char~ges in ~he interest
rate and the m~m~hly pa}~mrnts, as foll~jws:
"4. INTEREST RATE AND <<fUNT~iLY PAYMH:NT CNANGF:S
(A1 Cfiangc 1)ates
The interest rete ! wil) ra>• may changr un thr first J~y c~f ~Y 19.... 88....., and on that day
r~•ery 12th monlh there.Jter. C:~ch date un whirh my inttrrst ratr could rhangc is ralled a"Change Date."
(B) The ladex
Beginning uith ~he firs~ Change n:ite, my interrst ratr w•ill t~e based on an Indrx. The "lndex" is the weekly average
yield on Unitecl States Trea~ury ::rcuri~ies adjusted to a conctant mnlurity of I yeer, as made available by the Federal
R~yerve Board. The mosl recent Index figure availahle as uf Ihe date 45 days brfore each Change Date is cailed the
"Currcnt lndrx."
If the Indea is no longrr a~~ailable, Ihe Nate Nnlder will ch~ti»r a new index which iti basrd upon comparable
intormation. The Note Holder w~ill givr me notire of thi~ choire.
(C7 Calculation of Changes 2
~ each Change Date, thr N~~tr Holdrr w~ill r:~lcut:~tr my nrw ~nterrst ratr b}• ddding percentage poinls
(.........`'..•.~~n) to ~he Current IndeY. The N~~tr ~iotder will thrn ruurtcf thr rr,ult of ~his addition to 1he nearest one-eighth
of one percentage {wint (0.1?S"/~): Subjcrt tu thr limrt+ ~t~~ed in Srrt~un 4(D)helow, th~~ rounded amount W~ill be my new
interest rate untii thr next Changr Da~r
; The Note Nolder wiU ~hrn drtrrminr thr am~~un1 ~?t~ ~hr n~~~n~~,iy ~a~~mrn~ that w~ould be tiuffirien~ t~~ repay thr
~ unpaid principa) balanre eif my I~?;,n 1 am r.+~~x~ir~l tu ~~w~r ~iii shr i'hazegr I)s~r ~n fuU iin the maturity da~r at my new
interest rate in sub+tant~ally ryual r.i~ mrn~~. I h~ rr.uU ~~f thi. ~,~Irul:in~?n will Ix ~hr nrH nmouni ~itmy momhly payment.
(D) Limil on loterest Ra1c ('hanges
The ra~~ af ~ntrretit 1 am rryuirrd r~y ,hall nrvrr tk mrrr.»rd un any vn~lr Changr Datr bp more than onc
prrcrntage noinl ( I.0'"r )(__~ru rrrrenia~;< <x?ui~. l?.f~` heck nnl,~• nne•bnx jG~~nllhc;,~~j~ ~~f interes~ t ha~•e bern paying
" for the prereding Iw~elce monlhr. M~ in~rre~t r.~ic al,~? ~hall nrvrr tx krralrr th:~n ~3'~4y .
(E) Fftective Date of ChanRes
My new intrrc~t ratr w~ill hrromr rfTrcinr ~m ra~h ('h~ng~ Uatr t will pay ihe amuunt uf my nrw monthly peyment
beginning i?n ~he hrs~ m~?nihly ra~niriu Jatr aftrr ~h~ Chang~ n:~tr until thr am~~unt c?f my monthly ~aymen~ rhanges ,
again. '
tF) Notice of Changes
The Notr N~~Ider w~ill mail i~r drli~rr t~, m~ n~?u.~ uf;~ny ch:~n~:e~ !hr ar~~nt~nt ~?f m~~ munthly payment hrforr Ihr
effective date ~f any changr. Thr n~~l~rc ~iN mrlude ~nFnrm.iliuit rryinrrd hy la~ t~~ br Fi~~cn mr and al.~~ ~he li~lr and
teiephone number c?fa pertic~n wfi~? u r!1 an.W rr ai~~ yur.~u?» 1 m:~y~ ha~r rr~;u~ling ~hr n~~Ure."
B. CHARGFS; LIENS
Uniform G~~enent 4 ot~hr Srcun~}• In.trumrnt :,mrncl~cl t~~ rcad a~ l~~II~~K.
4. Chstrges; t.iens. f3orrciwcr.h;~ll ray~ all Iaxc.. .~~.~~.mcn~., an~ ~?ihrr ~hargr., finr~ and im~x~.it~um :~trrrhu~:+hlc ~u thc
Property which may a~~ain rn~~riiy~ ~~vcr ihi. Srcuruy In.trumrnt. and Ira.rh~~ld raymr~~~~ ~~r grc~und rrn~.. ~I~any. iu Ihr
manner prcwidrd undr~ raragrarh 2 hrrrc?f ~~r. if no~ ra~d in .urli mannrr. hy t3~~rrvwrr ma~ing ~:~ymrn~. w•hrn dur.
diret:lly lo ~he pa~•re thcre~?f. ii~~rruwrr.halt rn~m~,tly 1'urni.h t~? l.r+~dcr al! n~~1~rr, ~~l~:~nu+w~h ~lur unJrr ~hi. Par:igrarh.
end in thr cvem It~?rr~~w•cr tihail makr raymrtrt dir«tly. i3~?rn?wrr tih~ll ~r~m~rlly furni.h i~~ Lrndrr r~cri~h r~i~lrnring
~uch payments. F3cvrc~wrr ~hall ~?romr~ly d~.rhar~;r any lirn w~h~rh ha~ pn~?n1y ~wrr Ihi~ krurily~ In.lrumrnl: rr~~~idr~i.
thet Fk?rrc~wrr ~ha!! n~~! Fx reyuired ~n diuh~rgr :u~y .uch liru W~ I~?n~; a. 13~~rr~~wrr. (:~1 tih.~ll :i~;rrr in w~rilin~ lu Ihr
~wYmcn~ uf ~hr uhligati~~n ~~tiurcd hy wrh hrn ~n mannrr arrrrtaMr t~? I.rndrr: Ihl.hall in ~;~Kxl lai~h run~~~~ .urh licn
by. ur dcfrnd ~gain~l rnfi~rrrmcn~ uf wrh lirn in. I~~;al rnx«ding` whirh in ih< <q~iniun ~?1' t.rnd.~ ~~~xr:~Ir ~a ~rrvrnl N~r
, cnfarccmrn~ uf Ihc ficn ~,r fi~rf~i~urr ~~f ihr I'r~~~xr1y nr any ~:irl Ihrrrul': ur (r) ~ha(I .~YUrc fr~m~ thr h~~t~trr ~?t'.urh Irrrr an
agrrcmrnl in ~ fi?rm.alnfar~~?ry 1~~ I.~ndrr ~uMirdin:iung wrh lirn 1~~ Ihi~ kcuri~y (ii.Irunirn~.
If I.~ndcr dr~crmin~~. ~h:il all ~~r any ~arl ~~f Ihr I'n~~xrly i~.uhJrrl :i (~ru Nhirh m;~y a1t:~in ~~ru~ril~~ inrr Ihi. tic•c•ur~l~
Imlrumrnl. l.rndrr ~hall .cnJ li~?rrnwcr ~i~uicr iJrn~ifyin~: wrh lirn. li~~rr~~w~rr.h:ilt ~:~~rtil'y r~r~•h lir~t ~?r lalr ~?nr „r un~rr ~,f
~ hr arli~~m.r~ li?n h aMwr wii hin trii Jay~ ~~I' I hr ~;i vin~! ~?I~ ni~1 irr. ~s~ `
~DDD~K Li~7R7 fl~ ~ . ~ nX~
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AOJUSTAltF RATE R{~R--ltans A•4 and A•~-1-1 Fomilr---9• 83--FNMA Un+1o~e+ (nifwnr~nf 10396],57 ANA2y~
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