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Home My WebLink About0994 .w, i . , . , ~ . + j . ~ . . ~ • ~ ADJUSTABL~ RATE L4AN RIDER i . j : NOTICF.: Tf~E: SECURITY INSTRUMF.NT SF.C~JRES A NOTE WH1C~i CONTAINS A PROVISION Ai.GOWING FOR CHANGF.,S IN 'Y'HE INTERFST RATE. tN• ~ • CREASFS IN THE INTEREST RATE ~VILI. RBSULT 1N NIGNER PAYh1ENTS. ~ ; DECREASES 1N THE 1NTEREST RATE WILG R~SUI.T IN LOWER FAYMENTS. ~ This Rider is made this . . 5~f~ . . day of . . . . . . . M~?Y. . . . . . . . . , 198~. . . , and is incorporated into and shall ~ ~ be deemed to amend and supplement the Mortgage, Deed of Trus1, or Deed to Secure Debt (the "Security Instru- j ment") of the same date given by the undersigned (the "Borrower") to secure Borrower's Note to . . . . . . . . . . . . . . . . ~ , , ~~'~~~j;jQ$ ,~~pFIjA~,, SF~VIjvGS 11ND, L011N, ASSOCIIITION, OF ,ST: . LUCIE COUNTY . . . . . , , ~ (the "Lender") of the same date (the "Note") and covering the property dzscribed in the Security Instrument and loCated at . . . . .~,RQ8. S~aW~y, ,Driye, , , , , . _ ,Fort ,~?iercet . Florida 33450 ~ Piope~~y Address . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . t Modifications. !n addition to the covenants and agreements macie in the Security Instrumenl, Borrower and ~ - Lender further covenant anci agree as follows: A. INTERF,~'T RATE AND MONT~LY PAYMENT CHANGES , The Note has an "Initial Interest Rate" of . Q/o. The Note interest rate may be increased or de~reased on the ~ day of the month beginning on .~~P~€~~r, lst~ ~q83 and on that day of the month every - ~ . ~2. . months thereafter. ' ~ Ctianges in the interest rate are governed by changes in an interest rate index cailed the "Index". The [ndex is the: [Check one box lo indicare Index.J , j (1) "Contract Interest Rate~ Purchase of Previo~sly Occupied Homes, Nationa) Average for all hiajor ~ { Types of Lenders" published by the Federal ~-Iome Loan Bank Board. (2) D• ~ (Cherk one box to indreate.wherher ~here is ony maximum limit on changes in the rn~e~est rate on each Change Da~e; ijno box is checked there will ~ be no maximum limi~ on changes.] . • ~ (1) ~ Th~re is no maximum limit on changes in the interest-rate at any Change ~ate. ~ ~ (2) O The iz~terest rate carinot be changed by more than percentage points at any Change Date. ~ If the interesi rate changes, the amount of Borrower's monthly payments will change as provided in the Note. In- ~ creases in the interest rate will result in higher payments. Decreases in the interest rate will result in lower payments. B. i,OAN CHARGFS ~ It could be that the loan secured by the Security Instrument is subject to a law which sets ~maximum loan charges ~ and that law is interpreted so that the interest or other (oan charges collected or to be coltected in connection with the ' loan would exceed permitted limits. [f this is the case, then: (A) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted iimit; and (F3) any sums already coilected from Borrower which exceed- ~ - ed permitred limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. _ - ~ i C. PRIOR LIENS ~ If Lender determines that all or any part of the sums secured by~ this Security Instrument are subjeci to a lien ~ which has priority over this Security Instrument,.Lender may send Borrower a notice identifying that lien. Borrower ~ shall promptly act with regard to that lien as provided in paragraph 4 of the Security Instrument or shall promptly ~ ~ secure an agreement in a form satisfactory to Lender subordinating that lien to this Security Instrument. ~ ~ D. TRANSFER OF THE PROPERT'Y ~ If there is a transfer of the Property subject to paragraph 17 of the Security Instrument, Lender may require (1) an increase in the current Note interest ra:e, or (2) an increase in (or removal o~ the limit on the amount of any one iri- ~ terest rate change (if there is a timit), or (3) a change in the Base Index figure, or all of these, as a condition c~f Lender's waiving the option to accelerate provided in paragraph 17. ~ By signing this, Borrower agrees to all of the above. ~ ~ . . ~ 101~ D , a Florida Corporation 5~~.~. +?i6 " ,ai.,~;,,,, . ~ ' ~i~ . - ; . . . '+`1 ~ . ~ Y ; t•.'l. ' ; iq~~'~A~ BY:Pet r C. Smith, Presic~nt i~`:~~~ R~_`~ ..4~ ~ -S P~I 2~ 09 ~-.~~~-:s~ ; ~ . _ ~ f~LC[ ~M~' c. r.o~nr: . = 4~ ~ ~ - ~-t~- - I ~ sr.~i~^~Fec=~~~Y.~~A. . . . ° ( _ . RCG~tt i'CtTfit. • . . . . . , ,s ' ~ Cl.CF.tS CIRtUII CGt!;1 W' li ~m M. Gerol , Vice Pr~r~.i~ ~ ~ • ~ a ~ ~ ! ar~ c~~::., ~~~Y g~ Q`~ , Y~~$y ~ C, ~ ~ .~CO~ `j ' ~Gi:`-. ~ Fllt [ ~ht - :t~ " . ~r~~_~:ro~i:c:'<<`' , - SI.I!'"~E Ci4:~' 5~.;~?•y~~ • . . ~ ft(:G:-fz 1'i 1'i=:,- « ~ CLEFK ;~i I t-, } !~t rr:7! `~'~F.`r . - . / f"4 . . ' i ' • IJ mort lhan ont box h chakeA or ij ne box is check~d, and Lender and BorroH~tr do not ofhtrHise ogrtt in writing, tht fers~ /ndtx nomtd well opply. ~ ADJUSTRBIE RATE LAAN RIDER-6181-fHIMC UNIfOflM INSTRUMENT ~ s ~ n _ 80~K~~ PbG~ aQ(1K~~~ PAGE~~~,/'J ~ Revised 8/I/81