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Home My WebLink About0548 ADJ[JSTABLE RATE RIDER 24/1885 PsL ( t Yesr Inda? - Penc~d~c and llfe lmtreu Rau Capc) TH1S AD1US I~ADLG RA'i'F RIDER ia rnads tAit 1$'~aY ~ DECEMB ER . 19 89 . and is inaxpontcd ~nto and sh+ll be deemcd W ameud and wpplement ihe Mortgage, Dccd of Trutt ot Secunty Dted (ihe "Secunty Instrumeai') o( the sanK data ~~en by tht unden~gned (the' Bortuwef') to sccurs Bcxrowcr'c Ad~ustable Rate Nou (ihe "Nae") [o GDV FINANCIAL CORPORATION. A FLORIDA CORPORATION (the "Lendcr') ot the ume d~te and covenng the pruperty deccnDod in the Secunty laswmeot and located at: t 937 S.W. GWENDOLEN TERRACE, PORT ST. LUCIE, FL 34953 ~ lProperty Addrccs) ~ THIS ?~OTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THF ~ , INTEREST RA'TE AND THE MONTHLI' PAYMENT. ~ Addltlunal Corrnants !n addi~on to ihe covenants and ~grr.ementc made ~n the Secunty Inswmant, Bomower and L.ender turther wven~nt and agree as follow~a: ~ A. INTERF.ST RATE AND MONTHLY PAYMENT CHANGFS. ~ "Ihe Nute prt~vidcs f~x an IniUal Interest Riie of 9~ rJ~ "Ihe Note provida for changes ~n the ~ntercst nte wd the monthly pa}ments, as folluws: F 4. INTt:R~ST RATE A!~D MO!~THLY PAYhfEhT CHA\GES; BORROWER'S RICHT'f0 LIMIT PAY!41EAT 3 (A) Change llstes t 7hs ?ntercst nte 1 w~ll pay may change on ihe firsi day of DECEMB ER ~~9 9 0, and on th~t d~y every 12th ; month thereafter. [ach date oo wt~ich my interest rate could change ?a alled a"Qiangc Datc". (B) The inde= ~ Beg:nn~ng wuh the fini Change Dau, my ~oterest nte will De based oo an Index. 7he "Index" ic the wcekly avenge y~eid on United States "I~reasuq~ secvrities adj~sted to a con~unt muunty of 1 year, as made available by the Federal Reurve Boud. The most recent Indez ~ figure a~ailable as of ttx date 45 d-ays beforc each C~angc Date ia called the "Clirrcnt Indei'. !f the lndex ~s no longer avtilable, the Note Holder will choose a new ~odex which is based upon companble informuioa. The Nae - Holder w~tl ~ve me oouce of this choice. (C) Glculadun of Changes Beforc each Change Due, the Note fiolder will calcWate my new interep nte by adding 3~ 2~j percentage po:nts ( 3~ 2 sj to the Cumot Index. 'il?e Note Holder will then rwnd the rssuit of thia addiUon to the nearcst one-cighth of onr ~rcenuge po~nt (O.125~0). "Ihis roundeA amount will be my new ~ntercu nse unti! the next Change Due. However, my ioterect nte shall never bt increased or decreased oo any cingle changed due by mo;r t}un 2. 0 0 percentage points ( 2~ g~) horn the rate of iotueat 1 had been paying immediately prior to the change date, and my nte of interest shal! ne~ er iacrease or docreau by more thaa 0 8 perceatage pante g~) from U?e initial Inureu Rue over the tertn of the I~cxe. "It~e Nae Holder will then deiem?ine the art?oun[ of the monthly paytnent ttut would be sufficient to repiy the unpa~d prir.cipal that 1 am expected to owe at the Change Due ?n full oa the maturity date at my new ioterest nte in substami~lly equal payments. 'Ihe result of this calculauon will be the new amount of my monthly pa}'meot. B. TRANSFER OF THE PROPERTY OR A BEhEFICIAL INTERFST IN BORROWER. lin~f:rm Covenant 17 of the Sccunty Instrument is ameaded to rcad as follows: Tran~ier of the Property or a Bmelidal tnterest In Bonower. if all or any port of the Property or any intercn in it is sold or transferred (cx if a beneficial iotuest in Borrower is sold or tnnsfemed and Borrower is oot a natunl person) without Lender's prior wntten :nnsen?, Leoder may, as its opuoo, rrquire imrstidia[e payment in full of all suma aecurcd by this Searity Insuument. However, this aplion shall nat be ezeressed by L.ender ~f ezerase is prohibited by federal tsw as of the date of this Security Instrumen~ Lender also shall not exercise ttus opt~ou d: (a) Borrower esuses to be submitted to Lendcr infamation rcquired by Lender to evaluate the inteeded tnnsferee as if a new loan were being cnade to the tnnsferee; and (b) L.eoder reasooably 6etemunes thu Lenders security will not be impaired by the Iwn assumption and , :hat [he nsk vf a breach of any covsnant or agrcement in (hie Security InsUUmenl is acteptable to [.ender. To thc extent pemuttod by applicable law, Lcndet may charge a teasomble fee as a condilian w Leoder': cansent to the iaan usumption I.eoder may also reGuirc the transferce to sign an assumplion agreement thu is aueptable to l.eoder and that obligates the transferee to kap all the prorttise5 and agretments made in tht Nale and ~n this Security Instrumen~ Botrower will con4nue to be obligated under the Note and this Secunty Inswment unlesa L.endet tdeaatt Bortower io writing. [f Lender exer~ises the option to require ir.uneAiate payment in full, Lender shall give Borrower cotice of accelention. "Ilu notice t shall pro~~ide a period of not less than 30 days from the date the notice is delivercd or mailed withio which the Bortuwer must pay all sums : secured by this Sewrity Insttument. If Bormwer faiis to pay these sums prior to the expintioa of this period, L.ender may invoice any rcmedies E permrteed by this Secunty Inswmect a•ithout funher notice or derrund on Borrowec % BY SIG'~I~C BELOW, Borrower accepts and agrees to the temu and covenants contained io this Adjusuble Rate Rider. ~ f Witness the h~nd(s) and seal(s lhe undersigned. 3 i ~ \ ~ . ~ (Seal) h (Seal) i . SORIA -B~'« ARIA E. ~OKIA -Borrower ~ - 'yG JAN 22 P' S ~ ~ 10 2 0 5 3? 6~~5~~, ~ ts~,> ' . , ` _ , r -a«m.veT -Borrower ~ ~ ~ ' I r' ' ~ /Sign O~ig irol Onl y/ ~ ` ~1L'I.TISTATF. AD3CSTABLE RA'I'F. RIDER • l Year Treasur7 Index - Singte Family - Fti11A,~FHL~1C Unlform Instrument i ~ 15~0~'fi~ 6'R.3 PR doaK674 5~8 ~ ~ . : ~ ~ ~ ~