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Home My WebLink About0986 w,w ~ - ~ . 1 - r • t' • . • f 'i ; . 1 ~ ~ - ~ i ..i. . . . . . . ~ - - . . . . . _ - 7 • - ! (B) Setting thc Ne~r Intereat Rate + " j To set the new_interest rate, the Notr Holder wi~l determine the change between the Bast Index figure and the Current lndex ~ ` fiRure. The Base. Index figure is ...,15 . 39$ Tho currect Index figure is the most cecent Index figure y j a~ailable AS days prior ta each Change Date. If the amount of thr change is less than onreighth of one ' . z pereentage point, the chanRe will be rounded to zero. If the arnount of the change is on~eighth of one perccntage paint or more, ~ j the Note Halder will round thr amount of t6e ch~nge to the nearest one~eighth of onr perce~tage poinG . ~ ~ If the Cur~ent Ini3ex figure is larger cfian thP Base lndex figure, the Note Hulder will add to the rounded amount of the ~ ~ change to the Initial Interest Rate. If the Current Index fiRure is smaller than the i3ase li~dex figure, the Note Holder aill subtract ` the ruunded amount of the char:ge from the Initiat Interest Rate. The result of this additiun or subtraction ~rill be the preliminary ~ rate. lf there is no change between the Base Index figure and the Current Indcx figure aRcr rounding, ths Initial Interest Rate will be ~ ~ the preliminary rate. /Cbeck oar Gox ~o iadii•att u~h~tba lhtrt it any marimrn? lrrni~ on ralt changef• ijna bar if cb~cked there u~i!! b~ iro maxrrarrnr limit on clxrnga~. J . (1) ~?f this box is checked, thPre will be no.maximum limit on changes in the interest rate up or down. The preliminary ~ rate witi ~c the new•interest cate. ~ (2) C7 If this box is checked, the interest rate will not be changed by more than percentage points on any ; _ Change Date. 'I'hc Note Nolder will adjust the preliminary rate so that thc ehange in the interest rate will not be mere than that limiG ~ ` The new interest rate will equal the figure that results from this adjustment of the preliminary rate. s (C) Effective Date of Changes ~ . - 3 . F.ach new interest : ate will become effective an the next Change Date.lf my menthly payment changes as a result ofa char~ge ~ in the interest rate, my munthly payment will changc as of the first monthly payment date a(tet the Cha~ge Date. ~ ; (D) Notice to Borrower ' ~ ? Thr Noce Holcier w•ill mail me a notice by tirst c[ass mail at least thirty and no more than forty-Fi~•e ~lays before each Change if the snterest rate is eo change. The notice will advise me of: (i) the nra• interest tate on my ioans; ~ ~ . (ii) the an~ount of my new munthly payment; and . (iii) any additional matters which the Note Holder is reyuired to disclose. • S. BORROWER'S FAILURE TU PAY AS REQUIRED (A) Late Charge for Overdue Payments - ' ~ f If thc ~Vvte Holder has not ceceived the full amount of any uf my monthly payments by the end of ...15 ~ calendar days after the date it is due, I will pay a late chuge to the Note }iolder. The amount of the charge will be..~_........% ~ af my overdur psyment c~f principal and intrrest. I will pay this late cliarkr onl}• onrr un anv tate pa}~ment ~ (B) Notice from Note Holder = If I do nut pay thc (~11 amount of earh monthly payment on time, the Note Holder may send me a aritten Rotice tellinR me - that if I do not pay the u~~erdue amount b}' a certain date 1 will hP in default. That date must he at Ieast 30 days after the date on which . the natice is mailed tu me. ~ (C) Default . If I d<~ not pay thr overdue amount by the date stateJ in the notic~ desrribed in (B) abo~•e, I will be in default_ If I am in default, the Note Holder may reyuire.nie to pay immediately the full amount of principal which has not beeR paid and all.the interest that I owe on that amoun~ . - - - Even if, at a time when I am in default, the Note tlolder does not re~uire me to pay immediatc)y in f~ll as described above, - the Note Holder will stil! have the right to do so if I arri in default at a later time. - i : ~ . (i~) P~yment of N~te Holder's Costs and Expen~es , . 4 If the Note Holder has required me to pay immediately in full as described above, the Note Holder will have the right to be ? paid back by rne for all its resonable costs and expenses to the extent not prohibited by applicable law. Those expenses may include, ~ for example, reasonable attorneys' (Aes. • ~ 6. WAIVERS ~ Anyone who signs this Note to transfer it to someune else (known as Tn "endorse~') waives certain rights. Thuse rights are(A) the , i right to require the Nore Ho!der to demand payment of amounts due(known as"presentment") and(B) the righc to require.he Note Holder to give notice ttut amounts due have not been paid ;known a~ "notice of dishonor"). ~ t 7. GlYI1VG OF NOTICES ~ . - Except for the natice provided in Section 4(U), any more that must be given to me un+~er this Note will oe given by mailing it by ~ certifipd mail. All notices will be addresses to me at the Property Address above. Notices will be mailed to me at a different address if 1 give the Note Holder a notice af my different address. • . . Any notice that must be given to the Note Holder under this Note w911 be given by mailing it certified mai) to the Note Hoider at the address stated in Section 3(A) above. ~lotices will be mailed to thc Note Holder at a dif(erent address i(I am given a notice of that different address. . . ~ ~ ~ :°:1'~ ~ . ~ •IJ murr thun one /H..~ chrr~(rd oi if ,r•. lr.~.i rh~„~rr.', uod L~n~/c: und ~f~~r?„u~rr Ji~ ~r~~1 ~,Ihr•.u rrr v,~rce io rrr~hn~ !he j~.tt rnd~°t uv!/ u/~j~/r•. . r , . _ - - _ -