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Home My WebLink About0919 ~ ~ ' ADJUSTABLE RATE RIDER ~ r~ YHIS ADJUSTABLE RATE RtDER ie m~de this.... p.. day ot....DECEM8F.8. ~ 19. a7..., and is incorporated i~to and shail be daemed to amend and aupplement the Mon9a~e, Oeed oi Trust or Secu~ity Deed - (the "Securlty Inst~ument'~ of the s~me date piven by the unden~Red (thp "8onowe~ to aecure 8orrowers Adjustable Rate Note (the "Note'~ to Flnt Con~munit~? A~~irlo~ Corp~ . . . . : . . . . . . . : . . . . . . . . . . . . . . . . . ~ . . . . . , . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (tt~a "Lends~ of the same date and coverin~ the proPertY described in the Security instrument and loasted ax • ~ .................1409,SN Aachen.Avenue~,Port.St: Luc1e,.Florida.34953 „ ~ + . . . . (p~„ . . . . . . . . . ~ . ~ ~ - ; ~ f ~ = THIS NOTE CON1'AINS A PRaVlSION ALLO~iIVING FC1R ~ . 4` . CHANt~E~ !N MY INTERE$T R~1TE, I~ MY II~TERE8T ; ~ RA'TE INCREASES, MY ~IIONTHIIf PAYM~NT$ WILL ~ ~ ~ ~ BE HIGHER. IF MY !N'TERE$'1' RAT~ DECREABES, MY ; iNONTHLY PAYMENTS WILL. LOWER. S i AdditloRSl Covsnants. in additi0n to the covenanta and aq~eements made in the Security Inst~ument, ; Borrower and Lender further covenant and aflree aa foRov~?a A. INTEREST RATE ANO MONTHLY PAYMENT CHANCiES ; The Note provides for an initiai interest rate of.....t.7.5....q6. The Note provides forChanges in the interest rate and the monthly payments~ as followa ~ _ ~ 4. INTEREST RATE AN~ MON7HLY PAYMLNT CHANGES; BORROWER'S RItiHT TO LIMIT PAYMENT i Chsn~s Dates s The interest rate i wiil p~y may change on the first day of ...J~~i~.r.X . 19 ..89. and on that day everyl2-month thereaKer. Each date on which my interest ~ate could change is call a°Change Oata" (8) The Ind~x ~ Beginning with the first change date, my interest wiil be based on an index available with the Federal . : Home Loan Bank Board. The "Index" to be used is the: ' - r Weekly average yield of United States Treasury Securities adjusted to a constant maturity of_year. (~x) National Monthly Median Cost ot Funds (NACSTM) ~ The most ~ecent index figure available at least 30 days but not more than 120 days is calied the "Current Index". ~ If the index is no longer available. the Note"Holder will choose a new index which is based upon comparable i information. The Note Holder will give me notice of this chotce. ~ (C) Caiculation of Chang~s I - Before each Change Date, the Note Holder will calculate my new interest rate by adding . Tf+a and 3 ~ .FiyE.Etghtbs ........................percentagepoints(...2,625......•-••961tothecurrentlndex Thisamountwillbemy new mterest rate until the next Change Date. - , ~ ~ ~ The Note Holder will then determine the amount of ihe monthly payment that would be suNicient to repay - the unpaid principal that 1 am expected to owe at the Change Date in full on the maturity date at my new interest ~ate in substantially equal paymenta The result of thiscalculation iscalied the"Fuii Paymen~" N wili be the newamount ' of my monthly payment unfess i choose the amount permitted by Section 4(~ below ~ (D) ENective Date of Chan~~s , ~ , My new interest rate wiii become etfeCtive on each Change Date. I will pay the amount of my new monthly payment beginnng on the first monthly payment date after the Change Date until the amount of my monthiy ; Payment changes again. (E) Notice ot Chanqes ' The Note Hoider will deliver or mail to Pne a notice of any changes in my intere8t rate and the amount of my monthiy payment before the effective date ot any change. The notice wiif inciude information required by law to be ~ given me and aiso the title. and telephone number of-a person who will answer any queation I may have regarding , the notice. ~ ~ . (F~ Limib ot Intsr~st Rat~ Char~~s ~ ~ The interest ~ate as calculated hereir~ wil nat be increased by more than _ 2•~ percentaqe points on ; the first Change Oate, or more than _L.4~. pe~antage points on any chan~e date thereefter. Decreases in ~ interest rates wil! not exceed ~-oo percent~e Roints on ~ny Chanpe data !n no event shall ths intereat rate on thts loan,at ~ny.poin4 in time. be greatar thaa 13•25 o? Nss than 4•~ 96. ; _ . i ~ ~ • ~ ~oox 56~' ~AC~ 919 ~ 'j . ?~r.- • ky-;.' . - - _ _ -.r x~` ' f _ _ ~ . - - ~ ~