HomeMy WebLinkAbout0945 - . , . .
~ t~:rinnca a3 O~, tht IntcrEst Changc Dalc in (ul) ~n thc ma~urity clatc ~t my ncw r~tc of iii~crest in -~uhslantialiy ~qual
~ ~ ~ayments. The result of this c~lculatian is ~uy new Full {'a~•meiit ~~n~ounl.
Each new ~at~ af iiilercct ivilf brcomc eff~rtivc an rach Intrrr~~ Ch~iige pztc, .it:l r:l~h ricw Full Naymt~t A111~~U111
~ ~~ill hcrame cfTectiv~-on tht first ~nonthly paymtnt ~latr aftrr Ih~ Inlrrr,t Ch7n;;r Uata
(I3) Required }~ull E'ayment Amount
1~Eill p1y lhc Full I'.~yntrnt Amount as my m~~nthly ~,:iym~nt ticginning ~~ilh iny 51~t m~inlhly ~,~ymrnt if my~ ncw
rate of interesl is equal !o or les3 ihan Ihr Initial R~tr of In~erest cir il' I da nal ch~~~~.;.~ t~i limi~ thr ;~mi~u;it ~~f my monihly
~aymrnt as pcrmittrc! by Srrtian 6(~l j brlo~~•. (:~•rn if I rhui?.r t~~ (in~il iny munlhl~• ~~aynir:i~. I~~iil ~iay lhc l~ull ('.~~•n~er~? ~
Amount beginning ~vith my 121st munthly ~ayment. ~
5. CR.IDCIATN U ~IONTNLY t'AY~IF.~TS 1-6U ~
~ ~ Nty first 12 manthly ra}~menls ~rill ~arh br ii~ tlic:imuunt i~f U.S. 400 . 13 ~ O~~ ~:i~~~
af the firsl fua~ ai~ni~c~•~rirs of thr cl;ur my firsl muu~lil~• ~,:i}~mcnt i~ dur. 1~vill hrgin ~~:~~~inti a nc~~• ni~iuhl~• ra~mcn~ ~
3. ~•~h~rh ~~•ill be ryual to ~he amou;~l 1 ha~•t hr~n r:~yiitg n~ulli~~lircl hy Ih~ ntunbir 1.075. 1~~ifl ~:~y Ihr ne~~~ anu,uiU uf m~
mui~thly~ pa; mCnt until it rli,in~rs iii :ic~urcl;ui:r ~~~th thi~ Srction S iir ti~rlirn: b ur i htlc~~v.
~6, QURROWER'S RIG{IT TU l.1,\tll' A~fUU\'I' ON \10,\~1'lil.l' 1',~ti'~~:l~:\"~5 61-120 .
. (A) Calculation ~f Cr:~du~teJ ~tunthly !':t~mrnt Amnunt
!f my new• race ~f ii~t~r~st ~t thr firs~ liu~rc.t Chaiik~ D:~tr i~ Fr~.~~rr tha~ thr Initi:i) I::~tr ai Inlerr.l. 1 m~y choc~~r tu
limit thr amount of my nra• ntun~hly ~a~ ~»~nt. If 1 d~~ ~u, un earh ul' ~h~ 5tli ~hr~?ugh 9~h anni~rrsaries nf the date nz}~ tir.t .
munlhly ~aymcnl is dt~e. f~~•itl brgin ~a~ ing a n<«• munthlp ray n~~nl ~~hi~h ~~ill h~ cyual t~~ th~ :imuuiit I h;t~•r hten ray inb
~ mulliplitd by fht nun~br~ l.075. ~r ~ ~~;,~E ~i~u,~~? u?~~~~ ~~~„~~~~~iy ~a~~ir~~nt. S~cti~n~ 6((i) vr 6(C) t~clo~~~ may
~ reqtiirr me tn pay a dill'crrnt amount. 1~+ill gi~~ 1h~ I~~ile Ilul~lrr n~?~i« lh;il l ha~~ rl~c~s~n lu Itmit my niunlhl~~ p~~~menl+
'i at k,ist IS days beforr m~• 61.t munlhl~ ~a~ mcnt i~ duc. ~ .
(E3) Reduced ~tunthl~• P:~yment Amount ~ . ~ ~
M1iy 73rd, 85th. 97th ur 1091h Krc~~u:?led monlhl~• rayment c:ilrulated undrr S~clion 6(A) ~h~~~~e rc,ul~ be great~r
~ha~i th~ amuunt of a monthly r:?~•m~nt ~~~hirf~ thrn ~?~uuld b< <uflirirn~ ~-~~ay my un~:~icl ~risiripal b:il:inrc in full bn ~he
m;~lurity d:?te at my currc~~t rc~te of in~crr,t in ,uh,t;intially ~yual ~:i~~n~rnts. If s~~. I«ifl in.trad ~hr~~ btFin Pa~•ing ncw
monthl}• rayment. ~~~hi~h ~vill bc eyual t~i thr I~~~~tr amuunt. unlil my 121st m~mthly ra~•n~~n1 ~~~hrn !~i~ill begin raying my.
nt~~• Full Pa~•ment Amount. - ' - ~
(C) Jncre~sesi ~tonthly Payment Amouni
~ . My paying a monthly p;~ymtnt ralrulat~d untlrr S~ctirn 6(A) ahc~•c rnuld cau,c m~~ unraiJ prii~ri al halancc to
, p
s etc~ed tht limit st~ted iii Sc~lion 8(U) bclu~v. If so. on Ihc d:i1r Ih:il n~? ra~•inb a monthl~• payrncnt ~~•uuld rauSr me ta
~ eteeecl lhat limit. I a~ill in.~~ael hrgi~i ra~ing n~w nti~~ilhl~• ~ia~•inrn~. ~!'f~i~ ne~~• nii?nlhl}•-p:tymcnt ~vill bc in an amc~unt
~ti•hich a-ould be ~ufficirnt to re~:~?• m~' ti~~n un~:~id prinri~~al bal:inr~ in full i~n tt?r m~turily d~te at my current rale of .
intrrest in subst:;nti.~lly rqu:il raym~n~.. until m~ 121,t nu~nthl~~ ~a~ mrnt «~hen I~~~ill begin ra~ing my n~~~~ Full Payment
Arnount. .
7. ~1U~'THLY ~'Al'~fE`T 12t A~D Rt:~1:\I~l\G N.11'~I1:~~"I_S
t3rgittning ~~~ith ~ny 121s1 m~~n~hl~~ j~ai~nicnt. !~~•iU ~~ay th~ f
uli Pa~~tti~nt ~imuunl :is my mun;hl~- ra~~mcnt.
8. ItiCREASFS IN 'f~11; ~'RI\C1Y,~L ri~lUUtiT 1'O 13I: 1'.11D
(A; Additions tn Aly Unp•rid Principat )3al~ncc
Each of my first 120 monthl~- ra~-m~ntx c~~uld be i~.~ Ihan Ih~ anwunt u~ th~ intcre~t ~,c~rtian ~~f a monthl~• ~~~~m~nt .
~vhirh thrn w~«t~ h~ .~~r~;~~~~ «~:i~- ~i~~= uuraitl f,rinri~~:~l h:il:iu:r i~i I'uU Ih~ nrituril~• ~lal~ at ~ii~~ ~urrrnl r:ilc ~~f
,inlcr~yl in subslanti~ll~- ~yu~il r:~s~mrnl,. !f .i?. ~:~~h ni~~iilt~ that lht ai~i~?unl ~~f my niunlhl~• ~,:i~ nic~it i. I~.~ ~h~n thr int~rr~~
porlion, the Notc Holdrr ~.~ill subtrart Ili~ aniount uf m~• moi~lhl~• ~:?~mrnl fmm Ih~ amuunl uf Ihr intrre~t portiun and _
wil; add Ihe differrnre to m~• un~~id ~rincirat b~lanre. Thr Nc~te fl~,lclc.r ~~•ill al.ci a~ld int~rr~~ un th~ amaunt a~ thi.
ditTcrenrt t~ my unpaid prinripat b~fancr rarh mai~lh. Thr ratc of intrrr•~ c,n ihr intrrr:~ a~ldrel to ~,rinci~al ~cill he thc ratr
# required by Scctions 2 ur ~(A) abo~•c. .
~ ~ (F3) Limit on Unp~id Princip~l I3~I~ncr ~
My unp~id prineipa! balance ran ne~~rr rxrrzd a m:~~imum amou~ft ryu~l to one hundred ~a rnt}~-fi~•e ~rrr~nt (125r'c)
of Ihe principal ambunt I originally bc~rro«~ed.
9. 14TICE OF CHA\CES
~ The Nott Holdrr ~ti•ill mai) or deli~•~r to me a notic< <,f:iny ch:~nFr. in ~h~ :?moun~ ~f n~~- mt~:i~hl~~ r:~} rn~~u befi~re thr i
; efTe~tive date of any rhange_ 7he no~ice ~~~ill includc infi~rmatiun rcyiiirrct F~y- lan• te~ b~ gi~rn me ;~nd ai.~~ the titlc :o~id '
_ tctenhone numberufa ~rson ~~ho ~ti•ill anti~ccr any qucstion ! inay ha~r rr~arding the notirr."
~ B. CHARCES; LIE\'S - .
Un±form Covenanl4 of.ths Srcurity [nsln~mrnt is am~iidrd to rcad as f~~ll~w~: ~
4, eharges; 1,tens. I3orro~srr ~hall pay all ta~cs, ass~scments, anJ ~th~r rhargrs, finc~ a~id imJn~si~ic?r.s auri~u~able t~~ thc
1'roperty which may alt~in a priority ovice If!is Sccurit~• Insirumcnt, anJ Ira.rhold ~ayr~~cnts nr gmund re~~cs, if any, in Ii~r ~
~ manntr ptovided under parc~graph 2 i~crruf i~r, if nat ~?:,id ii~ ~uch ma~~ner, by [3orm«•cr n~:iking ra~•nZrnt, ~~hcn due.
~directly to the payee Ihrrrof. E3orro~~•er sh~ll pri~mrtly furnish to Lrndcr all ~~oiires oPamau::~. due andrr ~his ~ar~graph,
ar~d in the even! Borro~~•er shal! make pa}-mrnt dirrctl~•, I)t~r~o~~er ~hali ~~rumrtly furioi~l~ lo Lcnclcr ~c~~ipes cvidencing
such payments. Borrowc: ~h~li ~romplly~ diti~h:?r~c; ~ny lirr_ H~hirh h:,~ rriurity u••cr tl~i. S~rurity instrument: ~?ro+~i~lyd. _
that l3orrower shall not br r~q~irtd to di,chargc any ~urh lirn ~u lung as Ilarrawcr. (a~ .hall agrr~ in ti.•ri~ing ~o ~hc
~ p~yment of the oblige~ion .rrurrd by su~h lirn in a ma~~n~r a~crpl.~ble su.i.~nd~r, slr,~ll in gi~iiel f:~ith ~iinl~s! such li~n
` by, ~r dcfend against cnforcemer~~ of surh lien in. IrFal ~ri},~~elinFs hi~l~ in Ih~ uriiiiun uf L~nder arrr~tc to pre~•rnt Ihc -
enforc~mtnt of thc lien or forf~iturr u~thr Ymrerl}' ur :ui~• ~?arl th~r«~f: or (r) ~It~ll ~r~ ur~ fti~n? (h~ hc~ldrr of.uch lien ~n
~grermrnt in a forrs~ ~ati~fai~ory ~ci t.riid2r wtx~rJinaling ~u~h li~n ic~ ihi. S~curily Inti(rumcnl.
i
If Lender dcterminrs thst all or ~n~~ ~ar~ uf ~hr 1'rurcri~ i; ~uhj.~~ tc~ 3 lirn ~cl~i~h m;iy ,~tt:~i+~ ~ rri~ri~~~ t~~rr ~h~. Srrurit~~
Inslrument. Lcnder shall s~nd F~i~rru«; r n~~tire id~nlif~ ing .u~ h lirrt. 1)arrt~~~•er sh.~ll .ati.fy si~ch lirn ~r r,ikr ~u~r ~~r morc af
the actions srt for~h ~bcs~~r K-i;hin irn da~~s of 11~~ g~~ itig i~l' nr~ ice:
C. NO~'ICE
, Uniform Covtnant 14 otth~ Se~urily Instrument i+~m~ndr~ eo rc~d f~~lln~ct: • OK n
.
- ~ ~OGK~ I~7 P~