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HomeMy WebLinkAbout0959 . _ . . ~ ~ ~ • PSL-1561 ~ ' . , GR~I)~JA'~'EI3 PAYMENT KIDL~ ~ • (With Intrr~sl Rt~tc Chai~ges [:~•~ry 5 1`~u~s) TtiIS GRAUUA7'Gll 1'A1'h1t:N7' R!!)!:R i~ ~u~uic ~i?i, .--.2~}d.... ~I;~}~ ~~I' .....~11}1@ . . fi..82.., and is incor~wratcci inlu ~~nc~ shnU tk ~iccmed lu amrnd t~ii~l ~u~~~,lrinen~ Ihc M~,rt~,ig~, I~~~r~l ~~I'"I~ru.t, ur I)rc~l ~~i ~ . Srrur~ !)rht (Ihe "Se~urity Inslrumrnl") ~if Ihc sum~ Jat~ ki~~rn h~~ tli~ u:~~irrtii~;r=~~I (ihc "13"rn~~~~~~") t~~.r~ urr liurn~~~rr'. , Gra?lua~cJ Puyment N~~te ta .....I.QGAN...~NT~.RNAT.XQNA.,~,...I.N1(~.STM~NT.,...zttiC...,...:.3222..Center,. South.~U .S, ~ .~.~,...F.t.....P.ler.ce.,..EIAr..i.da....,~345.0............ (thc "I.cn~irr") ul' thc zun~r dalr (tti~ "f~'ui:'..! :~n~l cuvtrin;: thr ~ rru~xrly drsrntxd in 1he ~urily ln.trui~icnt anJ I~xutccl ul: ~ ~ ~ ............25.~2...S.W.....~/1r.pen~~x...~~r.ee~,...P.o.r.t..S.t...Lucie,..F.l.or.i.da.....33452 1 . (Propcrly Ad~ire5s) Tha Nofe contains p~ovisions allowirtg for changes in the intcrest rate enci monthly ~ ~ payments. ~ The Borrro~erer's monthly ~payment will increase by 7~/r% each year during Ohe first five ' ~ yea~s of th~ Nofa. ihe Borrower also may be able to limit monthly poyment increases - to 7i/z% ectch ~~ar during the second five yec~rs of the Note. The rema~ning month4y ~ payments ~tso couid inc~ease or decrea:e, depending ~n changes in the interest rote. . ~ ~ . - ~ _ Tha ~ari~tip~f amount !hc lo~rowec mt;st re~ay wiil be larger th4n the amount ori~inally borrowed, bu~ noE more than 125% af the o~iginat amount. ~1)UI1~IU\.\I. t'O~'F.':`A~TS. ~1l :Il~(~IIIUII (O ITII' CCi~"Clf(1f11S :1I1(~ :iF!I'CClllt'fi~ti 111:1(ft 111 (~iC JCCt11iIt ~fl~lftNli~fll. ~ I3urr~~~~ rr .u~~i i.~ n~lrr iiirthcr rc~~•rttai~t :~nd :+~;rrr ati Pollcnt•~: f1. tti'1'~:Nl~:S"I' RA'TF. ANi) 111UN'f~~I.1' YAY1fEti7' C}IA:\t;HS . I hr Nutr ~~n»tdrs ti?r a~i Inilial K:~tr c~t~ Ititer~.tc~f....~6...~1.Q.......~%. 5~~1lot~s 2 tliroush'! ~~f~tlic ?Vulr ~n»utr fi~~ ~f~a~~.~r, _ in thc intcrr,t ratr;t~rcl thr muntli~}~ f~:~~ i~~ent~. fi~lluti~:ti: ` {\Tr:k1:yT . - (r~) tnicrest U~red . • ~ ( - Int~rr,t H•i!! berhargc~cf ur, that part ul~principal w•hich i~as nut hcci~ raid. Intcretit H•ili tk ch~~rgc~i h~kinni~~~ nn th~. il:~ir ~~f ~his Nn~~ :,n~i rontinuing in:til ~hr full amuunt of prinriral has tkru p:~id., . ~ _ Ileg+nrtir~g i~ri ttie dute ~~f !lzis Atol~. 1 w•il) uwe intrrest :~t a}'early ratr uf . ~c. I'hiti ralr is ~c~Uc~~t th~ "luiti:il Ralc i~f l~Uyr~s11"Thr rate oi intrre~t.J ~ril) ~a~• will cha~~ge in acror~anre ~+~itl? Scrtion ~i (A) uf ~I:is Nutr ~~n tl~e lirst .1:~~ ~~1' - ...................y.....------........... ~ ~ } I~)„tif.. :~nd un !lta~ day c~~~ry bOth niunlh li~err.~flcr. liaclz cl:~tr ~~n ~~hii•h i»~ ~:~Ir ci!' E. . inirr~,t ruuld rhange is call~-~i ~n "li~tr~r.t Cl~ange D:~te." . ~ k t13) The In~ex ~ ; An~• changes in n~y rafe uf intrrr~t a~ifl M: ba~ed ou changes in thr Inclcx. "I'hr "In~lex" i~ Ihr ~~r~kl~' ,~~tr:~~;~ ~ i~t~l un ~ I Unit~d Statrs Treasury securilies a~iju~trd t~, a constar~t maturity of 5 ~-r:u~s, ati m:~«~ .,~ailahl~ h}~ thc 1-~~lcr:~l Ilr.<<~r ~ I 13uanl. 7~h~ m~»I rc~~~~tly avail,able Indrx figure as of th~ ~1ate 45 d;i~~, hrfo~c: rarh lnt~rc.t Cliui~gr 1).itr i, rall,_~l ih~~ I . ~ ~ C'un-rnt Indcx.• . ! ~ U ~h~ Indrx is nu longer a~~ailabl~. thr Nutr lluWrr ~cill rh~H~tic nr~~ indr.~ ~~hicli i~ b,~;rcf ur~„i rr„~~~~:~~,ihlr ~ infi:rmatiui~. The hote_Hold~r w~il) gi~•e rn~ n~~tirr uf ihis cliuicr_ tC) Interest Aft~s llePAUlt _ _ _ ' ~ ' 7~he rate of interc-st required by this Sc~tion 2 and Sectirni 4(~~) helu~~ is 1h~ rate 1~+ill ~~ay~ hc>th hrf~~rr :~n~4z~f~~ r:~n~ ~ :frlault ~1~s~rit~ed in Seciion !2 (t3) bc~lu~s. " - 3. 77'~it: Ati~ YLACE UF PAY1IE:~TS ~ ~ 1 Hill ~~a~~ ~irinriJ~:~l and int.r~st bj~ m.iking h.tymrnts c~~cr~• m~m~h. M}° ir~ui~lhly ~,.~~mc+ilti ~~ill hc a~~~~1i«1 t~s inir~r,t - r?~rn~~ r~~~~~~P:,~. . I~cil) make my monthly J~a~~mcuts iin th~ tirst day ufca~h munth brc~niiing un .......Aldc~}ll5.t..1.,........... ' i 8L.... 1~.ill makr thcse payments c+~~ry n~unth unti; 1 have paid all the ~~rinrir.~l ~in:t inlrrr,t an~i an~~ c~lhr• ch:u-Lrti :1~`~ntn~l ' ~ ~ txxlow~ that 1 may ow•e under lhis Note. If, an .....J.ul.y...l., 20_..12-:, f~til) am~~unt+ um:c•r i hi, Nu~~•. I w ill ray I l:~ne 3mounls in full un that datc. rvhirh is called thc "maturity d.~tr." 1 wilt make n:y monlhl3• pa}~mcnt~ at .....~,.QGEaJ!1..~1`:IT.~RI!IA~~QIdAL..INVESTMENT.,..~NG,,.....~222..C.~nter..So.uth - ...U.,S...:.#1...f..ar.~...P.ier.ce.,...F.l.ar.i,da....33.45.~ ~~r a~ a difTcrent place if reyuired by th~ Notr Holder. ~ . FUi.L PAYMENT A1110UNT tAl Caknlatio~ of Full i'~ymcnt Ai*•?unt . - Ecirh af my first 120 monthty payments could tx I~~s th:~n a I~ull I':~~•mcnt Amuui~t. A"f=ufl~Yaymrn~ r\m,~unt" i. ~ thr m~~nthly amount suflicient to rcpay the amount !~~rigin;~ll~° t~~rrc~H•c~1, or th~ un~aid princi~~ai halancc ~~I' m~~ I~ ~.u~ nl an In~rr~~st Change Date, in i'ull on the maturity date -~t the rate of int~res~ I,~m rcyuired s'~~ (~ay~ t~}• Scr~i~n~ 2 atx~rr c~r ~hi., Srct+on 4(A) in sub~tantially eyual payments. Beginnin~; on thc datz ~~f thfs N~~tc; m}~ firtii Full 1':~pmrnt Am~,unt ili t,r tis. ~.....586...61 until ti1~ first Int~rert Cti3nge t)~itr. ti1y firsl f~utl Paymrnl Amutnil ~~~iii fk lar~rr Ihar, rarh of my first 60 rnonthly pa~•mcnts. . f3rfi~re each Intere~l Chang~ Date, thc Note N~~Ider w~ill ~iete~n 1'a~mrnt Am~ ~ ~ ~ • ~ I`~itr HoWer ~?~ill fint calculate m new rat~c ot interrst a~ldin ~ ' Y S 6-... : Ixrrcnlagr ~xiints k . ) tu tli~ - t ~ C~~: -~n~ lndea_ "Th~ Not~ H~~Icicr v?~ill thrn round thc result uf liii~ ;~~ld~1u u!u [hr nrarest cmc-ri~h~h ~~t un~ ~nrc~nt:~gr ~x~int (0.125^ln). This rounded amount ~•ill bc my nr~~~ rate uf intrrest u~~til tl~~ next Intir~,t C'hau~;e I)at~. "I~I~e tie:~z ~ I~oldcr ti°ill thcn ca(cutatc Ihe nr~~• amount of a monthi~• ~:~ymcnt Ili.it ~i~~ui~l h~ sufliricr~l ~c? rc~,~~• mp unt~:ui) ~~+-i;~riral ~ R~-Fecard _ ao~3~ ~~E ~ . . so~c~~ - _ ~ GRAQUATED PAYMENT RIDER - Pia~ 6 GPARM-Single Fami~y4 `32- FNMA (!niforrn Instrument . .3 _ _ . _ _ -