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Home My WebLink About0990 w ~ . ~ ~ ~ ~ ~ • j ~ ~ . • j ~ . . ,1 . . - ' f - ~ ~ ~ . ~ - . ~ ADJUS'I',c~?BLF, ~ATE 1~~(?TE ~ ~ ~ i : ~ NOTICE TO SORROWER THIS NO't'~ CONTAIrdSA PROVYSION ALLOW- ; ~ ING FOR CHANGES Il`7 THE INTEREST RATE. INCREASES IN THE . { r ii~3T'EREST Rr, i L WILL RESULT IN HIGH~R PAY11~~~''I'S. DECREASES s ~ IN THE INTEREST RATE WILI. REStJLT IN LOR/ER PAYMENTS . ) - ~ ~ ' .:................MAY.28th........... ,19..82 ..............STUART....... ...:...FLARIDA............. - Crty Stalt ~ . ~ ~ ~ PINETREE..DRZVE FT. PIERCE............ FIARIDA 33450... , ~ Properly Addraft Crty Sta~e ' Zip Cadi ' ~ # 1. BORROWER'S PROMISE TO PAY ~ ~ e ~ In return fot a loan that I have receiveci~ I promise ta pay U.S. _...~.IFTY. FOUR.THOliSAND,DOI,.LARS_,pND. Np~l00ths--- (this amount rvill Dr calted"principal"), plus interest, to the order of the Lender. The Lender is FIRST FEDERAL ~AVINCiS AND LOAN hSSOCIATION Or MARTIN COUNTY. " ~ I understand that the Lcnder may transfer this Nute. The Lender or anyane who takes this 1`'ote by transfer anc~ who is entitlfd ' i to receive payr~en~s under this Note will be called the "Note Holde~'. , 2. INTEREST ~ t Interest.will be charged on that part of outstan~ireg principai which has not been paid Interest will be charged begin~ing an th3t - ' ~ date I receive principal and continuing until [he full amount of principal 1 receive has been paid ~ ~ Beginning on the date of this Note, I wiU pay interest at a yearly rate of ..16 . 50$ q~o ~~he "Initiat Interest Rate"). ~ The 9ntcrest rate that 1 will pay will change tn accocda~ce with Section 4 of this Note until my loan is paid Interest Itatc changes may ~ occur on the..~stday oCthe month beginning on SEFTFd~ER. lst,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, , 19. ~.3 . and on ~ that day of the month every .`~'~~-s~+..~r . months thereafter. Each date on which the rate of interest may change wili ~ • be calied a"Change Date". x 3• PAYMENTS - (A) Time and Piace of Payments - ~ 1 will pay principal and interest by i~aking payments every months. [ will make my monthly payments on the ~.St. d~y of F ~ ' each month beginning on. . .JULY . 7.Sk . . . . . . . . . . . . . . . . . . . . . 19. . .$2. I will make the5~ payments untii I have paid a1! . f of the principal and interest and any other charRes, described brlow, that I,may owe under this ;~ote. 1 wiU pay all sums that I owe E under this Nofe no later than..... .JJN~: .2A1z . . . . . . . . . . (the "firul payment date"). . ~ 1 will make m monthl ayments at 9~9 SOUTEi F~nERAL HIC'~iWAY, STUART, FLORIDA 33494 Y Y P . . : . . . . . - - • . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . _ . . . . . . . . . . . . . . or at a different p!ace if rFquired by the Note }iolder. ~ . f (B) Bc~rrower s Payments Befo:e They Are Due ~ • ~ [ have the right to malce payments of pi'sncipal at any time before they are due. A payment of principal only is known as a ~ ; "prepa; ment"/ When I make a~repayment, t will tell the N'ote Holder in writing that C am doing so. I may make a full prepayment ° ~ . orapartialprepaymentwithoutpayinganypenzlty.TheNotet{olderwilluseallofmyprepaymentstoceducethramountofprincipal ~ ~ ~i t'riat 1 owe under this Note. If I make a partial prepayme~t, there wil) be no delays in the dates of my monthly payments unless the Note ~ i. Holders agtees in writing to those delays. bty partial prepayment aill-reduce the ar~ount ~f my monthly payments after the first j ChanRe Dase follo~ving my partial prepayments_ Hawever, any reduction duc to my partial prepayment rnay be offset by an interest - " ra~e increase_ . - 5 (i..7 Amount of Monthly P~yments . - f - Aiy initial monthly payments aiU be.in the ar:~ount of ll.S. ~?47 r 98 If the interest rate that I pay ~ x ? changes, the amount vf my mont~~~ payr.~ents will change. Ir_creases in the interest rate wiil result in nigher payr:~ents (unleas my $ ~ prepayments s+'nce the last Change Date offset thr s:icreases in my monthly payments). Decteases in the interest tate wili result in x { lowcr payments. 7`he amount of my monthly payments a~ill ala•ays br sufficient to repay my loan in full in substantially eyual payments 3 E ~ by the final payment date. In setting the monthly payrr.ent amount on cach Change llatc, the ~ute Holder will assume thac the Note interest rate will not change again prior to the fina) payment datc . ~ . ~ 4. INTEREST ItA'I'E CH~INGES ~ ~ (A) TheIndex Any changes in the interest rate wil! be based on changes in an interest r~te index which will be called the "Indtx'. Thz Index is the: ha4 one box to i~dirale iadex./ . - _ (1) ~"Contract Interest Rate, Purrhase of Previousfy ~ccupied Homes, National Average for a11 Major Types o! Lenders' published by the Federal Nome I.oan Bank Board ~ ~ a• . ~ I I( the index ceases to be made available by the publishes, or by any ;,urcessor to the publisher the Note Holder wil) set the Note interest tate by usinR a comparable index. ~ ~ - ~ t~CO~'J d f P~~?E ~ - ~ r - . _ - . .