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Home My WebLink About1831 ADJU~TABLE RATE RID~R 11/1069 PsL • (1 Yeu Indea - Poriodic aud Life Intercu Rate Caps) TH1S ADlUSTA9LE RATE RIDER i~ ~~ude this 2 8`~'~day of DECEI~ID ER ,~g 8 9 , ' and is inco~potated ioto and ~hall be damed to amend and wpplcment Ne Mcxtgage, Deed of Tn?st ot Secunly Deed (the "Sccunty Instrurrxnt") of the same date given ~y the uodersigoed (lhe "Borrower7 w ucuis Bortower's Adjuuable Rate Note (the "Nae") to GDV FINANCIAL CORPORATION, A FLORIDA CORPORATION (ihe "Leader7 of the same date and covering the ptopeny detcnbod ia t1~e Saurity lautument and lacated at: 1681 S.W. MORELIA LANE, PORT ST. LUCIE, FL 34953 (ProPerty Addrou) THIS NOTE CONTAINS PROVISIONS ALLOWIIVG FOR CHANGES llV TNE INTEREST RATE AND THE MONTHLY PAYMENT. AddiUoeal Corenaats. In sdditian to the coveaants and agrcemeutt m~de in U~e Security Intwment, IIarower and L.ender funhrr covenant aad agree u followt: A. INTEItEST RATE AND MONTHI.Y PAYMENT CHANCES. The Note providee for an laitial Interc~t Itate of 11 . 0 0 4~. '!1?e Note providu for changes in the intercu nte and the monihly p~y~rxnts, as [dlowt: d. 1NTEREST RATE AND MOM'tfl.Y PAY1I~.NT Cf~ANGFS; BORROFVER'S RICtCI' TO LIMIT PAYMEhT (A) Cbanee Dstes ~tt~~ ~~~a nc~ i~?i wr ~r ~ns~ r~ ~r ~ JANUARY . 19 90 , aod on ihat day every 12ih month thercafter. Each date on wAich my intereu nte couW change is calted a"Change Date". (B) ~1! IDdtI Heginning with the first Change Date, my inte~ nte wiU be Dased on aa lndeu. '!he "Index" ie the weelcly avenge yield on United Sutes TRasury eecurities sdjuued to a constsnt mauuity d 1 year, u made availsbte by ihe Federal Recerve IIoarb 'Ibe most recent ladex figure available u of the date 45 dayc before eacA Clunge Date it called tAs "CLment Indei'. If 1he Index is no looger availabie, the Note Holder will choose a new inde: which is bued upon comporable infomution. "Ilu Nae Holder will give rae naice of thic choice. CakulaUon of C6ao~a Befae ach Ctuage Date, the Nate Holder wiA calcul~te my new ieiercu rate by addin8 3. 2 S percenube points ( 3. 2~j 56) to tAe Cumnt Index. 71~e Note Nolder will thea round Ihe tewlt of ~his addition W the oeareu ooe-eigh[h of one percentage point (0.12556). 'I~u rounded atnouat will De my oew imetest nte until the next Change Uate. However. my intereu rate cGall never be iocrcaud or decreaud ou any dngk changed date by more than 2.~ 0 percentaB~ P~~ ( 2. 0~) r~ m~ rx~ o~ ~m~u ~ n~a e~o ~r~g „~a~~~r ~or co ~ a~~o~ mco, aaA my nte of intercu shali never incre,ase or dareau Dy mote ihaa 0 0 P~~vB~ Pante B~) from the Iaitial Intercst R~te over ihe term oC the Nae. The Note Holder will then determine tbe amouat o[ the moathly payment that would be aff?cient to rcpay the uapaid principal that 1 am expected to owe u the Chan~e Date in full on the manuity date at my new iutuest rate ia tubsuntiaUy equal paymeats. 'iTx rcwlt of this • ulculation will be Ihe new amount of my mouthly p~ymem. i B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER. ~ ~ Unifortn Covenant l7 of the Security lnslrument is amended w rcad u followc: ~ Transfer of the Propert) or a Beadidtl lntcrest in Borrower. U all or aay pan of the Property or any iourest in it is sold or i i transCerted (or if a beoefidal imuat in Bortvwu ia sdd or ltancierted and Bottuwer is not a nawnl person) without Leoder'c prior wriuen ~ consent, Lender may, u i1s option. rrquire inuaediate payrtkot in full of all wetu savrcd by thie Suurity Inswmeot. Hawever, lhic option ~ sh~ll aoi be exereited by Lender if exetdte is prohibited by fodeol law u of tbe date of Wis Security lnswmenG Lender also sh~ll aot exercise thic option if: (a) Bortowa csuus w be wbmitted W Leodu information tequitod by Lender W evaluate the intendcd lnns(eree as if a cew laan t wcro being made to the trandcta; aad (b) Leodsr reasombly detertninet ttut Leaders ixurity will not be impairod by the lo.n asswnption and s thst the risk of a breach of any coveoaM w agrament in Wit 5ecurily inurumeot is acceplable W Leader. ~ To the extent pertniued by applicable law. Ltoder tnay charge a reawnabk fa u a condiUOn to Lender't conant to the Iwn ~ usumplioa Leader may also require ~he ttaaJeree to pgn an ascwnplion sgr~ement that i~ acceptable w Lender and that obligatts the ~ uansferee w kap all the ptomises aad agruments made in the Nate aad ia this Security lnstrumea~ Bortower will continue to be obligated ~ under the Note a~ thit Security laurumeot unlas Lenber releaset Barrower in writiog. ~ If L.ender exercises the option to require imrncd'ute payment in full, Lender shall give Borrower notice of accelention. 'tl~c naice shall provide a period of not !ess than 30 day~ from the date the natice it delivered or mailed within which the Borrower mwt wy all sunu ucured by this Secunty lasttumeot. If Bortvwu fails to poy these wms prior w the expintioa of this puiod, Lender nuy involcc any remedies permitted by this Security Inswment without funher notice or demaoG on Borrower. ~ BY SIGNING BELOW. Bortower accepu and agrcec to the tertns and covenante conuined in lhis Adjusuble Rate Rider. e ~ W~tne~s the hand(c) and eeal(t) of the unders cd. ~ / . (Seal) (Seal) OAN , SCHAEF R BARBARA A. SCAAEFFE -Bo~owcr Y E ~5~~ ~ ~.)Gd~~ ' -BOfiCrVtr -(30ITOWtf ~ ~ f5,gn O,igiw! OnlYI ~ ~ ~ ~ MULTISTATE ADJUSTABLE RATE R[DER - 1 Year Trea.wr~ Indti - Single Family - FNhW~'tILMC Unlform instrument ~ ~ 150~02~7 6184 PR f gooK674 ~~Ei831 k r'`-... ~-t. ~S ~:;rs~ki'9~~~s,k- ..r°r-.a:=~-~+-~K%.=~" ~~-r=r.~~.-LL.~~rr_'~~~"~ ~ ~