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RECOfiDIN(i REnUESTEO BY
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»I~'r PRIOR TO FBB~tI1AR,Y' l, 1988 ~
B~ CIi~A~3~. Qt '18R AMWI~T DI~ FItQ![
~ D~tB~URB~!!~T DATS AHD BKAI~L B~S B
~fO~Y. '
BO~iORI~t SHAI.L MAK~ ~Od~Y PA7~T8 O~F
IB~T Q~t DRAiiS B~13I~4 A[1C~[~ST 1, .
` 198~ A~ID '.~E F7A8'r D~A1c OF BACH ~D~i'18. -
'l~~tRAP'~ ~H NW IlIG?,tmI1~G .
JAIIUARY l, 1988
SPACE ABOVE FOR RECOROER'S USE ONIY
~ RIDER TO MORTt3AGE AND NOTE
QATE: ~lly~~ Z9~Nis) tfin th~ fa~owi~p provi~3ot~ s~ail b~ ineo~wrn~d into th ~mortQp~ of ~~r~ts
to which this Rider is attsched (heroin•
7M untl~sipi~d t" th~
rft~r the "Mortqp~"} a~ wsll a th~ nots whkli s~W Morc~p~ awnr lMnin~ft~r tht "Not~"i and shNt b~ daen~sd to smend and wDPlemant said N1on~sps snd
Notr f:
A. ~
If or any psrt o th~ f~eurhy ot an int~rat tMnin is or M~d by or 1t Barfnvwr is not a r?stuni psr=on or prnon: but i: a capontion, `
ps~ltnK~hip, Wtt or otNer (~pN erttity snd a b~nslicLl intKat in 8orrow~er if wW or u~rKfernd witbout Lender's priot written con:er?t, excludinp
(a) a u~»f~ by dwiw, d~.w+t or by op~ntbn ot I~w upon tM d~sth Of a jotnt ten~t or patn~r.
(b) th~ Y?M+t of any I~Iwid int~rKt in sll or any p~rt of tM ~swrity of thr~ ypn or lea rwt contsinirg ~n optFon to purcA~se,
(c) a!a or u~nsftr~ of b~+afkW int~nttt in Bor?ow~ providd wcl~ sda or trantfers, topether with sny prior sala or tnnsfers of beneticisl interest~
io Borrow~r, but ~~ocludi~ Wes a trarrien und~t iu6p~sapiaph (s? abav~, do not rawlt in more thsn 25% of th~ benrficiai interestt in Borrower hsving baen so~d
or tr~nsf~sd sina oonxnaxwnrnt M amatirstion of th~ Noa.
k!) tfN cn~tton ot a tiM or other ~ricumbnna wbordt~ to tM t~Aortygr, or
4~1 tM aptbn of a pu~cha~ ~wrwy ~ec~?rity Mtnpt tw houKhold~pplianca, ;
Lsr~ may. st LendK't optbn, d~clan NI wm~ ~cund by ttw MortQaps to bs imm~di~tNy du~ a~d psyabts and lender may tnvoke any remediet pNmitt~d by -
th~ t~rrr: ot tM Nots. Mony~y~. *nd thb Rid~. -
t~nd~r thNt not exetcire Eu option if: (t) 8orrower uuset to b~ wbmitt~d to L~rwler a!1 iniortnation requioed by trtnd~r to tvalu~ts tM trantfer~s ss ii s naw
lo~n w~ts b~i+g madlr [o the tneafanr, IZl L~ndsr dituminn that L~nd~r's pwrity rrill oot b~ impsind and that the risk of a lxssch oY any oovenant or spsee-
m~nt in tM Mortq~pe or tfiit Rid~r it ~oc~tsbi~; (3) tnterest i~ payable on the wms tecured by tAs Mortysps st s rste and upon tsrrris iocepaWe to Lendsr; ~nd
(1? cMnpa in tM t~rms ot th~ Nots and th~ Morc~pe ?equind by Under ars msd~. Le~d~r at:o may clurye a fee as ~ condiiwn fo Lender's nonexercise of ics
aPti~^-
B. TfN foliOwirp pMSpnph will bt op~ratiw onty ii ttN box below it Checked with s"Y".
~ OPTION j0 EXTEND OR REOUCE T~RM: If, tt ths end of 4 montht from the due dtte oi tM first psyment, o? batween tub~squent
Adju~bnant Qatss, th~n a net ine»rt in tM Elfoctive intenat Rate, Borrowtr thslt harrr tha option an ~ach Adjuttm~nt Dats to ~xcend the tsrtn of this Mote.
18orrowir't ~x~rcia oi tM option to ext~nd shall b~ roqiwd by Lendu no lat~r thsn the Adjuttmsnt Wte.) T1?~ tots! term of tAis Note ihsli not exceed 480
montht from tM d~t~ !?~nof. If tM Botrowar ~xarc~s aid optbn to exttnd, tM monthly psym~nt may be sdjutted by Lend~r to permit amortizstion of the
unp~id b~ltnoe wFth ~etarst !n ~qu~l moe~thly intqlkrNntt ovtr wch nm~ininp tsrm.
Ii ~t any Adjusun~nt Ott~ wbNqusnt to Borrorwt't ~~oercKinp tM tor~poinp optiort, th~n 1?~ been s net decr~se in ttu Eitective fnterect qste unce tNe prior
1 Adju~trtl~nt Mtt, BoROw~ ~hall Atv~ tM opibn to nduc~ th~ nmaininp tKm snd t~tnde~ thsll sitMr coxurreetly mairitsin or adjutt tha monthly payms~t to
permit rt~atizatbn ot tl+~ un~aid belana wkh Mte?pt in pusl montfily installm~nu over wch nm~nioQ term.
If Bwrow~r st~tt to nwtntein tM t~rm ezMtKion, 8orrowK thNl provitN l,Rnder with vKitten notice of Berrower•s intention to do so, to be received by Lender
ra lat~+r tl~ ths Adjustm«ft O~te. 9uch vKitUn notks shNf 4~ i~ a form Worid~d by t~mdK. ~
C. MS OF t~OTE REtJ1T1 T ~ A Ths twn ~vid*nad b1r said Nots ~nd Monq~pe it made punuant to the Reyulstbns (12CFR
6+?6.33! o~ r.-w
nvnw a.aar~ tl~in , pr on~o a~Not~ r~tatino to ~dju~tments in int~rpt nte and psymenu ar~as tollows: -
"Z, ? A ~$~fENT•_ !t; at any tG»~, tl» rnonthty paym~nt is in~uHkient to WY tM tntsr~si du~, tM amouet of unpaW inNr~st
tl~Il be ad W t s prine a t~ntt
n
tfi~ nt~ tAao in Nfeet. ~
3. INTE M tdT , i
31 J n t f~ctiw Interott Rat~ ot this Noca it the Initial lnterat Rat~ uoti~ +edjust~d, and thenatter shal! be tha adjusted intsrs~t
nt~ in rfhet from tim~ to th»~.
3.Z Indsx_ Any ae~estm«+u ot ct~ ~ntemc nc+ d+a~~ be btNd upo~ chanp~s ~n tne fo].l.oving indez: ~ -
~ i~Teek]~r Average I[ie]~d an (U.B. ) Treasury Securities ad~usted to a conatsnt m~at~rity oP
~ one year (t1~e 1-Year T~easurY Securities Zndea}, es published in the Fedcral Re
Statistical Release H.15 t 519 ~QpK ~1, PAGE 8~~~
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3.3 Estsbthhinp New Rat~. Comr»a~tinp ~ mootfn irom tM dste of tht firtt psymeni snd wery j~ months thsrs~her (ths "Chanpe
Dtt~"!, tM Effsctiw~e lrttartt ii~tf oi this t~Noa rn~y chanps on tht CAanp~ Drte. Tha ENactiw IntRrest Rst~ shsil ~ot be chsnp~d ii the alue ot tM chsnps li las
than _ • 05~ TT» m~thod ura! to d+t~rmin~ the Eifectivr Inttrest Rats is: (Check one box fa rr?~Nwd u~d.)
11) ~ 8aion ~seh Chtnp~ O~tt, the L~nda wili cakulat~ t!?~ Eft~ctiv~ tntsrest Rtte by sddinp Q.75 to th~ most ~scently availabl~
Indrx VNu~ on th~ Cfisny~ Dst~ or,.tn th~ css~ of a cone~paxfirq paymMt adjustmmt, on tM dat~ of notification of ~uch paymem
i chsrq~. Tfl~ wm will b~ th~ Eff~ctiv~ fntare:t Rste.
~ 12) ~??N ehsnp~ bttwMn th~ Initial IntN~st Rat~ snd tht Eft~ctivt Intve~t Rat~ 4f thi~ Nott may chanqs by the amount of tM corre~ond-
irp eA~~pe b~tw~n tM lnhUil Ind~x Yalu~ ~rtd th~ most ?~cendy avsN~l~ Ind~x Value on tM Chanp~ Osta or, in tht cass of a corr~-
iPO+~d'?.'~4 WYm~nt sdluti~nertt, on tha dsa M notificscion o! wcf~ p~yrnsnt eh~. .
3.4 Msximwn pac~ Adluumana. Nocwith~undinq cA. provbians of 3.3 abo~r~, th~ maxEmwri ~uttn?tms ia thi Eff~ctive lnt~t Rat~ ~I+NI rat ~ao~.wd
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