HomeMy WebLinkAbout0977 , , LOAN ~1010103410 ~
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AIaJU~TABLE RATE It~DER
THIS ADJUSTABLE RATE RIDER is made thts..~_day of ~61~ ~ 19~, ~k
~ and Is incorporated into and shall be deemed to amend and supplement the Mortgnge~ I?eed of Trust. or Deed
to Secure Debt tthe "Securli,y Instrument") ot the same date given by the underaigned (f,he "Borrower"1 to
secure Borrower's Adjustable Rate Note to United Savings ot Amerka, F.A., (the "Lender") of the sAme date (the
"Note") and covering• the ptoperty described in _the Securtty Instrument and loca?ted at:
. . . . . ~ ti . . ~ , . ~ . ~ ~i
~~Q? Delan~l, Avenue Ft ; Pierce Florida 34951............................ ~
••o.••.•.•.•.• ~y ~ q • ~ V ~ Y~re.i. y~.y~~Ly • .•H.•.•.•••••••••••••..•..••.
. t~a•~i? ~?adr.~i~ .
TIN NoN ooM~s pro~l~ions aMor~rg Ibr=olii~p~s Mi M~ inNr~t raN. N1M i~aha n~ '
M~aw~~ 1he ~orroMr~r's a~oMhl~ p~a~aq wIM b~ h1~AK. M~ !1~ M~I~nN nM~
eMq+~N, ll~ ~on+ow~'~ ~ p~N ~ b~ IowM.
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AnnmoN~u. Cav~~rs. In additian w the a~v~enant and sp+anKncs made Ia the Security Inawment, Borcower
aad I.eader tl~»hcr oovenaAt and s~ee u folb~vs:
~
A. n~'fRREST RATB AND MONTHLY PAYk18NT CHANG&4 ~
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The Not~ providu for aa inuw~l interat ra~te of ..~.s.~:s~.........~b. Saxiba 4 of thc Note provide~ for chaa~ea in the ~
interae nte and tt~se awat6lY iMY~ntt, u folbMS:
1. IN18~8S?' ~A?B AND MDNINLY lAYJ~lENr CH.lNGES
(A) C~e Dates
'Ibe interea nte t M+ilt pay may chan~e on the day of ..........As~~~N~~~ ! 9. and
: on that day of the month evecy .12...~~~XYet~. moatlu thereaRer. Pach date on rvhich my intereat nte o~utd chan~e
ia caUed a "C6an~e Date."
(8) 'I°Me Iadci .
- Be~ianin~ ~rith the Aat ChanQe Date, my interat ate Mill be based on an ••Iadex." The Index is tl~a Makly
av~ra~e pield on United Stata Treuury ~curities ac~ju:ted w a ooas3aat maturity of CQ~1~~....... yean,~~as made
avaJabk by tl~e Federal Reservc Boud. The moat teoent I~d~ac fi jw~e availab~ aa of 45 dsya bcfone each Change
D~tC li 1~Cd thC "Citt'1~CAI ~Cx."
If the Indsac i~ no bn~er avaitabie, the Note Holder will choose a new indyx which is baaed upon oomparable
information. 'ti~ Note Nolder ~vil! ~ive me aotioe of ita cboia.
(C) Gk~tatio~ of Q~sa~es
Before each Change D~te. the Note Holder will cal~late my ne~v interesc rate by adding .~Q..~~....T.~~..
Q~~~~~ peranu~e poiats ~:.1. ~.......96 ) tu the Curr+ent tadex. The sum wil! be my new
inttrat rate.
'fhe Note Holder w?iU then dttermiere the amount of the montWy paynHent that woutd be auAScieat to npay in fut!
t6e princip~l I~m expaxed to o~ve on the Change D~ in wbsuntially eqwl ~tYmeats by the nu~twity date at my
ne~v interest nte. The rault of thia catculation a?i!1 be tlie ae~v amount of my momlilY paYmta~
(D) Flecth~e D+~te at Cra~a
My ne~v interest nte will beaoaie e~axive on each Chan~e Daoe. I~ell pay the aawunt of my new nwnthly
Paymeat be~ianin~ on the Rrst awatWY P~Y~i date aRer tl~ Chaa~e Date until the amount of a?y aaAthty
psyment chaa~a a=ain. -The interest rate shall not change by more then two percentage
~B~ points (2.OOOX) on any c~ange date, taor by more than six percentage
oints (6.OOOX) aver tt~e life of the loan~
'Th~ Note Holder ~?ill mat~ ar deliver W me a notic~e befot+e ead~ Ctunge Dau. The aotioe arili adviae mc oC
( i) the new intet~ctt nte on my baa u o!' the Chaage Date;
( u) the amount of my monthiY P~Yaxnt fatb~riog t6e Chaage Dste;
( ui ) any additional mattecs which the Note Nolder ~ roquired w disclae; and
~ (iv) the titk and tetephone number of ~a penon ~bo ~rill an:wet any qu~eation I may have rcgardin~ the
notia.
' B. CHARCFS; L~IS
I ' Uniform Caveaaut 4 of tbe Socurity Iniwment ia an~ead~d W read as fdlo~ra:
4. Qur~a; I.ieNr. Bom~wer s6at! pay aU taxts, ~atmeab. and otber d~tr~es, Anca aad impositioat attributabk W
tl~e PMpertY which may sttai.n a priority over ti~ Searety ~trument. iad ia~ekold psymenu or ~nound rcata, if '
any, in the manr~r providad under pan~raph 2 hercof or. if aot paid ia aufi manner~ by 8orrowtr makin I
! PgY~?ent,
~hen due, diraxly to the Esaya theroot. Borrower shsli pr+~pdy.~ tn I,e~der all notias of smounts due under
ehi: paruraph, a~d in the eveat BornoMer abaU maict pa~at dinoctiy, BarroMer ahaU promptiy furai:h w Lendar
naipta evidenan~ such psyments. Borrower :hali promptly di~e ~ny lien wrhich h~s priority over thi: SecuritY
Inatrumtnt; however, Borroarer ahal! not be rcquired w d'uchu~e aay suc~ lien so ba j as B~rnoMCr: ( a) ahall a~nx irw
writin~ to the payment of tl~e obli~tion secured by auch lien ia a maeiner aooeptabk w Lender; (b) ahaU iw ~ood
6EMERAI fOR~NL~fC UaIfORM R0IUSTABLE R11TE lOAN-tt~r Nofx~ 3~~
~ooK 566 Q~ 971
10912~1 A -
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