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Home My WebLink About0936 _ } ~ ~ , ~ ~ ~ ~ . ~ ~/'vj~4~ } ~i"i j ~ `f lOfl W~st Bay Street, JaGkeonville, Florida 32202 1 will m~ke: r.~y manihl.y Payments at ~ . ~r at a difierent place if reyuired by the Note Holder. !B) Amonnt o! Mont6ly Paymcnts } • ~iy munthly payment will be in thc ~in~unt of U.S. S..fi1.S...4b The Note Holdcr will changc my , ~ monthly payment.as required by Section 4{C) below on the 6th Interest Change Date and oi~ that day every ~6th month thereaf~er. Each of these datcs is called a"Payment Change Date." The Note Holder witl also change my monthly .j payment on any Interest Change Date if Scction S(P) below requires me to pay the Full Monthly Amount: _ , 3 ; - (G~ Calculs~tion of hiont~ly PAyment Chanses ~ Befure each Payment Change Date~ the Nate Holder will calculate a new monthl} payment sufficient to repay the ~ ~ unpaid principal balance on my loan in full on the m~turity date at the Payment Rate in substantially eyual payments. 'fhe ~ "Payment Rate" is the sum of the Index.figures on the five Intere:t ChAnge Dates preceeding a Payment Change Date plus ~ thc Gtirrent Indcx, divided ay the numbcr 6~ plus 4.2740 ~rcentage paints (.~t.,~7.4a...%), rr,unded to the nearest ~ one-eighth of one percentage point (0.125%). I will pay the amount of my new monthly payment until the next Yayment Change Date unlzss Section S(B) below ~ requires me to pay the Fult Monthly Amount. ~ ~ . (D) Effective DAte of Pay~neat Changes Until my m~nthty payment is again changed~ I will pay the amount of my new monthly payment each manth bcginn:ng on the first monthly payment date aRer the Paymcnt Change Date, or Interest Ciiange Date if I am required to pay the Full Monthly Amount. 5. UNPAID PRINCIPAL BALANCE ~ ~ ~ (A) Changes in My Unpaid Principal Bulance ~ ~ M monthl ~ y y payment could be less than the amo~nCof the interest portion of the first Full Monlhly Amount I owe or less than the interest portion of my first Futl Monthly Amount after an IntPrest Change Date. If ~o, the Note Holder will subtract the amount of my monthly payment from the a*nount of interest I owe and will add the difference to my unpaid principal balance each month until the next Ireterest Change Date. The Note Holder will also add interest on the amount of this difi'erence to my unpaid nrincipal balance each month. Until the next Interest Change Date when the I~Iote Holder ~ ij determines iny nsw rate of in~erest, on my then unpaid principal balance, the rate of interest on the interest added to princi~al will be the rate det~rmined in Section 2 above. ~ My. monthly gayment could be more than the amount of the Fall Monthiy ~mount. If-so, the Note Holder will ; subtract the differenc~ from the unpaid principal balance of my loan each month until the nea! In:erest Change Date as if I had made a partial prepa~+ment under Section 7 below. - (B) LimIt on Unpaid Principal Balance; ~tequired Full Montbly Amount ~ I My unpaid p;incipal balance can never exceed a maximum amount equal to one hundred, twenty-five percent (I2S%) ~ of the principal amount t originally borrowed. If my paying the amount of ~ny monthly payment after any Interest Change ~ i~ate would caus~ the unpaid principal balance to eaceed that maaemum amount at any time, I must pay instead the Full ~ Monthly Amouni as my monthly payment until the next Payment Change Date. , _ ~ 6. NOTICE OF CHAt.GES ~ ~ - The Note Holder will mail or deliver to me a notice af any changes in the Full Monthly Amount and my monthly ~ ~ payment before the effective date of any change. The notice will include information required by law to be given me and ~ also the title and telephone number of a person who will answ~er ar~y question I j,tay have regarding the notice." - _ B. CHARGFS; I,IENS ~ ~ ~ _ - Uniform Covenant 4 of the Security Instrumeni is amended to read as follows: . 4. CharRes; Liens. Borrower shall pay all ta~ces, assessments, and other charges, fines and impositions attributable to the ' _ Property which may attain a priority over this Security Instrument, and leasehold payments ar ground rents, if any, in the manner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the payee thereof. Borrower shall promptlY furnish to I,ender all notices of amounts due under this paragragh, - and in the event Sorrower shall make payment directly, Borrower shall promptiy furnish to Lender receipts evidencing ~ suc'... payriients. Borrower shall promptly discharge any lien which has priority over this Security Insirument; provided, - ~ thai Borrower shall not bz required to discharge any such liea so long as Borrower: (a) shall agree in writing to the payment of the obligation secured by such lien in a manner acceptable to Lender; tb) shall in good fa:ih contes~ suc:~ lien i`~ by, or defend against en;orcement of such lien in, legal proceedings which in the opinion of Lender operate to prevent the . F enforcement of the lien or forfeiture of the Property or any part thereof; or (c) shall secure from the holder of such lien an agreement in a~form satisfactory to I,ender subordinating such lien to this Securi4y Instrument. • If Lender deteimines that all or any pa*t of the Property is subject to a lien ivhich may attain a priority cver this Security ' Instrument, I,ender shall send Bonower notice identifying such lien. Borrower shall satisfy such lien or take onc or more of ; the actions set forth above within ten days of the giving of notice. ~ ~ ~ , _ ~ - _ - - C. NOT'ICE • ~ ~ - Uniforrn Cavenant 14 of the Security Instrument is amended to read as follows: ~ 14, 1vlotiee. Eacept for any neiice required under applicable law to be given in another manner, (a) any notice to : i~ Borrower provided for in this Se~urity Instrument shall be given by deliver,'ng it or by mailing it by Srst class mail ~ addressed to Borrawer at tha Property Address or at.such other address~as j3orrower may designate by notic;e to Lender as , ~ provided he:ein, and (t;j any notica to I.~.~rider shal~ be given by first class mail to Lender's address stated herein or to such I other address as L,ender m~y designate by notice to Bonawer as provided herein. Ar~y notice provided for in this Security Instrument shall be deemed to have been gyven ta 3orrower or L,ender when geven the manner designated here~n. _ ~ . , • ! ~ D. UNIFORM MORTGAGE; GO~ERNING LAW; SEVERABILTTY ~ , . ~ U~iform Covenant I S of ~he Security Instrument isamtnded to read as foliows: . ~ 15. Uniform Mortgs~ge; Coeerning Law; Se~erabillty. This form of Secutity Instrument c~mbines uniform covenants for *_iational use and r.on-uniform covenants with limited variations by jurisdiction to constitute a uniform security ~ instrument ~overin rea! ro rt Tt~is Se~urit tnstrument shall be overned b f~deral law and the law of the ~ 8 N Pe Y• Y 8 Y• - ~ y' jurisdictian in whicf~ the Property is located. In :he event t t prorision or clause ~f this Security Instrument or ths , , ~ ~ ~ ~ ! - . _ ~ _ _ _ _ • ---r-----__ _