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HomeMy WebLinkAbout0943 _ I t~ ~ ~ ADJtISTABLE R.ATE RIDER 5o-233iR43/ INTEREST RATE LIMI'I'S CONVERSION OPTIONS 'fHi; AUJt'til':~ItLf: I~:\"1'F: ftll?F:tt i, madr th~s 28TN ~1a~• uf JUNE 198$ and ~nc~~r{?~~ratt~d ~nt~~ ai~~l ,hall b~~ ~1~~~~tn~•~l tu am~~nd and supple[nrnt th~~ ~turt~;a~;~~, (h~t~d ~~f'I'rust, ur ti~•i•unty (k~t•~l, ltiic~ '~~cur~t~• i~i~trunu•nt") uf th~• ,.u~~e• if~tt~ ~;i~t~n by thr un~l~•r,i~;nrd lth~• °ti~rrruwe~r'1 t~> u•~•ur~• Ii~~rruH~'r'ti A~~us(.i?~It~ tZ~tlt• \ut~• 1 thc~ '\utt~") Iu Hr11t[iOH FF:I)E;ftALtiA~'I\(~ti a\I) l.Op\ Ati,ti(x'IA7'1Oti ( th~• "I~~nd~•r"! ~~f the satn~• ~lxt~~ and c~~~~~nnX thr ~~ru{x~rty d~~scritx•d tn th~~ ti~•cunt~' Instrw~it•nt xnd I~x~ute~d at 10044 SOUTH OCEAN DRIVE JENSEN BEACH~ F~. 34957 ( 1'ri~~x~rty A~idre~~.~ 1 The Note contains provisions ailowinQ for changes i~ the i~te~est rate. if the ; fnterest rate increases, the Barrower's monthly payments wili be higher. H ihe ' interest rote decreases, the Borrower's monthly payments will be lower. ~ ~l?Ut'1'I(i\;AL ('(?1'~:tia` i~~ ~~~~i~<«,~, c~~ cn~~ c~,~rnant and a~;r~~t~nu~nts madt• ~n th~• ~~cur~t~~ In~trument, t~~rr~?we~r an~l I~~ncier furtht~r cu~~~nant and akret~ as fc?ll~~ws ~ i . , 3 1NTEREST RATE ANU M()NTHL~' PAYMENT CHANGE ti "IT~e tie~tc• pru~uir. fur an ~ntt ial intt~rc•zt ratE~ c?f 500~ ~'ct i~'n 4 uf t hE~ tic,t~• pn~~~~irs f~,r chanXe~s ` , in tht~ ~ntc~rest ratt• and thr munti~i~• pa~~tnent,, as (~?lli?w•s i i 4. i\TF:ttE ~T ltATf A\I) Stl)1T}ILl' 1'.al'~1F:\T ('tiAN(,F:.ti ? (A) Ghange Uates Tht• interi~st ratE• 1 w~U pa~• tna~ <~h~n~c~ un th~~ first ua~•~~f JULY ,1~ 89 .and un that day e~f tht~ montl? ~~~~nT1JEl.VE m~?nth~ t ht~rraftrr. f~~•h datt• ~~n whi~•h m~• ~ntc~rest ratc• c~~uld chanKe ~s called a 't'hanK~ Uate". (B) The lndex E3eKinn~nK x~~th th~• firtit t'iia~ik~~ [~.it~~. tny intere~st rat~• Kili t?~ b<itie•d „n an "Indt•x'.'Il~e• ind~~x is th~~ weekl~~ i a~~~raKc~ y~e~ld ~m t'rist<~d tit.itt•~ 'tYt~.~.,ur~ ~t•~•unt~r, ad~u,t~~i t~? a c~?ntitant matunt~~ ~~f pNE ~'f•ars, ati madN ~ a~3ilabiE~ h~~ t ht• Freit•ral N~~~E•n~~ ti~?ard '11~~~ must m<•erit Indt•x Tikurt~ a~d~lable a. of 4.`i da~~ bPfure each C'hanKE• ~ Uate is callt•~i the~ '('urrt~nt lndt~x". ~ j Itthe lndt•x is nu l~~~Ker a~a~labl~~, the• tintc~ Nuldf~r H•ill ~•h~H„t~ a neK~ Indt~x wh~ch ishased upnn comparabte ; infurmah~~n. 'IYu• ti~rtt~ HuldE•r K•~il K~~~~ m~~ n~~Uct~ uf ~t, ch~~~c~• ~ (C) CalculaUon of Changeg € f#•forE• t•ach ('1ianXE• [~atF•. tht• \utt~ H~~i~i~•r N•di ~•alc•ulat~~ my~ rz~•H• ~nt~~rr~st ratr by add~nK TWO AND 75/100 f {N~rcE•ntaKe Ex~~nts { 2~ 75 ~ tu tii~• ('urrt•nt In~{rx 'llu• \utt~ H~rlclc~r will then round the~ rE~sult of this i additiun t~, the nt~art~st ~~nt~-~vkhth ~?f unF• F;~•r<•~~nt3Ke• {x~int (~?.l'.'.:~'~. tiub~YCt tu the Gm~~ti statecl ~n tiect~on 4( D) f tK•I~~v~, ttuti ruun~lt~d am~~unt ~~~U tn• m~ n+~« int~•n•~t ratt~ ~inul tht• n~•xt ('hank~~ l~ate. ~ 'ITir \utt• H~~idt~r H~ill thet~ de•te~rni~r~t• t ht~ arnuw~t ~~f tht~ m~?nt ly j?ay~tn~~nt t hat would t~e tiu[ficient [c~ repaythe ~ unpaid pnncipal that I am ~~xFrt~•t~•d t~, uKe at th~~ ('hanKe ilate in fuii ~,n tht~ maturitv date at my new ~nterest i ratF in substantially eyual paymen~~ ~Ti~ mtiult ~,f thi~ calcuiation plu, an~• requirrtd monthiS~ escrow ior taxes ; and lmurancc• w•ill t?e th~ n~v?~ am„unt ~~f m~~ m~~nthly Na~ment E (D) LimitB on IntPreet R,ate Chanqe~ "Il~t• ratc• ~,f ~nte•re~st I am rrywn~~i t~~ G~a~ :ha!! nt~~~•r tx~ ~n~•rf>:i.tie~d ur ~fe~~•ma~•d ~~n an~~ tii~zKlr~ ('hanKe [?att h~~ ~ m~~rf~ than T~~ ~N~n~~•ntaK~• }r~intti t 2~00 frc,m thc~ rate uf intt~rest I hati~e 3 ht•~~nE~:+~~c~Kf~~rti~t~~~r~•~~~~f•~f~ny~ T'aELVE ni„nth, ~1~uit~•re•.trate~alu?,hallne>~~~rincrea;F~mc~rt~ than SEX {N•rre~ntay~~• EN~uit~ ~ 6,pp fr~~nz th~• ~ntt•rrst rate~ r~,tahl?.,h~•~1 ~n {~ara~;ra{~h :\,~ftl~i~:e~,irutn~~nt ~t~ int~•re•,t ratF••h.?Il nr~~•r~1~•~ n a~~~hrinH thf•intt•rt•~t ratf•~•~tah ~ li~h!~~1 ~n ~~arakrxE~h ~~f tlii, in•tr~iti~~•nt ~ ~ {F.) Effecd~r UatP ot ('hu?gee ~ ~1y~ ne~vv int~~r~~~t rete~ Hili h~~~•~~~ne• +•if~•~~ti~~• ~~n ~•arh ('hanK~~ Uatc> ! w•~I! pa~'tht~ am~~unt ~~f my neK monthly. ~ pa~mf~nt t?~•~nninK ~~n thr fir~t m~~nthl} {~a~~n~~nt ciat~• aftt•r thf~ ('i?anKt~ [?ate unt~! thF~ amuunt ~~t my m~~~thl~~ ~ payznc~nt cttianKc~ti aKa~n F ( F) NoUce of C'hange~s . T"1ir \~~tP Ifuidt~r ~s~lt mail ~~r ~1~•ii~t•r tu rn~• x n~rtu~F~ tx•fun• ~~act~ c'hanKt~ I)ate~ ThF~ n~~t~cE• H•ill aci~~se me ~ ~ i i tht• n~•w ii~trrr,t rat~• ~~n rn~ !~~.in uf tht~ ('hanKc~ [>ate. +~i; thE• an~uunt „f m} rn~~nthf} {~a}i~ie•nt G~II~rµ~nK the~ ('hanK~' I?att~. ~ ; ui ~ Any a~l~1?tumai niatt~~rti u1~u•li th~• ti„tf~ H~>1~1e•r ?s n•yuirr~l t~~ riiu•I~~~r. and ~ tht• titlf~ an~i te~l~•,~t~{~~«• riumt~•r ~,f a~~r~rw~n u~h~~ wili antiwt~r any yut~yti:~n ! rna~ hat~c• r<<KariiinK the n~~t?c~~~ tlpti~~n To C~?mPrt :1NL 7'o F'ixed [ntereKt HatP fi+•i'~nnin~~ ~~f !t~~• tir.t r hany;~~ ~i:~t~• [li+• h~~rr~~~ti~•r .i~~~li Ira~r tl~~• ~~E~t~un nf ~~~~n~rrUnk th~• :~~1~u.tahlF~ I11~~'f~'~t I:lt~• f~~ 3 ~iX~'~~ Illi~~n•,t r:ilr• ~14~• ~1•e~ (i~f ~•X~'('t'1~111}; tflt• n~)tl~~tl I~~ ~'~itl\~•f1 I~~:i ~FX~'(~ llllt~fl~`t rat~' ~fl:i~~ ~)f' t~ti~~ hun~lr~•~i lift~ ~1"Ilar, ~ ~,-~~~~!i~~ 'tli~~ ~~~~U~~n •h:i!! r~~niain .~~a~fahl~• unhl : j ; If?~• ~~~~fY~~K~•I ~'?if•~~;IVt'.~ SjIP~OF~I~nI? ~~I' ; ! ~ th~~ ~•a~~~r;~t~~~n ~~f th~• ~~nti~~n ~~n ih~• fifth ~ h.in~;t~ ~i.it~. 't~}~~~ fi~~~~l u~r~•r~~,t r:it~• a~;ulahl~• t~~ t~u~ tf,irrn«~•r ~t~:?ii tN~~ :~I~•ul.t1~•~1 h~ <uialin}; <<n~• t?alf ~~f ~~s~t~ Eh•rc•t•nt~aK~• ~><nnt ~"~ii, t~~ tt,~• F'~~~lrr:tl E1uni~• I~~~en ~1~~rt~;a~!~~ t'~~r~~~~r.+t~~~n', ! Ff11.~11'; Ke•ytt~r+•~! \t~t ti'i~~1~1 f~~r ti~~ ~1a~' ~1~~I~~~t~r}~ nf 3~ ~r fi~~•~t r:~t~• nu,rty~.i~;~-.:~n~1 r+~uii~l~n~ th~~ .un~ I~~ th~~ n~~xt hi~h~~tit un~~ ~~iy;hth nf~~n~• F?~~ri•t~ntak~~ (x~~nt ~ 1•,-~ ~'I'i~e• inirr~~,t r:i~e• ti~~il Ir~• ~~,t:ihl~~ii~~~! ~~~H~n n~~ f~~~it nf h~~rrv~wt•I ti~S:'I~I/•n n~~t~~•c~ c~f int~~Rt t~~ t•xc fct~t~ thF' ~~'ill~~fi[~~~'~~?~~+'I-1 li'•H Illi~•f~•till:t(~•t.iJ~'il~:tit•~~Ull~~e~fff~lti~•~'ll~~!I~~I~e?N'I~~li~~t~)t'QfP.ltl~rthantht'IR:iXIfIlU1T1 f:tl~•~?:i(~•~) Ifl .`+'i ll~~l~ li ~1~:/~~~~:~' ~ll ~~f~~~•I fn~•\~•f~ l~~•t~l~'~~O11~~111~~('~1(l~t~rt t~~afix~'(~I11lPrt'AlfdlP,l~1PI)(~~f(IKl'C ItIU~S tl~~llf~ {~:11t~~~f E'~'~~~'1.1~ 111 \\Iilllll; u( ~~I~ ~t~•; Itlt~•tlt (~i ~•af~fli~~' f~'.t~ ~i~)I{np ifl Nl'('llf(13~iCP K'II~I If1P ~JR~~93 f~~~E 943 ~ a _ 6 i ~"as +~._s%_ : ry_'.` ~ ..~.,x.~~:. ~:-~-F'^~~„eY.;~~:'xz.~--~ ..~ssa~~ ~_i=:z