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Home My WebLink About3000 ~ ONE YEAR ADJUSTABLE RAT~ NOTE ~~i~11K (1 Year Treasury Index-Rate Caps) , THIS NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IfV MY INTEREST RATE AND MY MONTHLY PAYMENT. THiS NOTE LIMITS THE AMOUNT MY INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE I MUST PAY. September 29 19 89 Port St Lucie Florida (C~ty) (State) 3172 Columbrina ~ircle. Port St .t_tP~ Ftortda 34952 (Property Address) t. BORROWER'S PROMISE TO PAY. In return tor a Ioan that I have rece!ved. I aromise to pay U.S. ~ 40,000.00 (th~s a~n~1~IledREASURE ~~OAST tereNATIONAL ASSOrIATION The Lender is B T I un~erstand thal the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and who is entitled to receive payments under this Note is called the "Nate Holder." 2. INTEREST. Interest w~ll be charged on unpaid princ~pal until the fuil arr~ount of principal has been paid. I will pay interesi at a yearly rate o( 25 Q6. The mterest rate 1 w~il pay will change in accordance w~th Section 4 of this Note. 3. PAYMENTS. (A) Tlms and Place ot Paymenb. I w~ll pay p; mc~pal and mterest by making payments every month. I will rr~ke my monthly payments on the f~rst day of each month begmning on November 1 , ~g 89 I w~ll make these payments every month until I have paid a1l of the princ~pal and interest and any ather charges descnbeci be!ow that I may owe under this Note. My monthly payments will be applied to ~nterest betore principal. If on October 1, 2019, I still owe amounts under this Note, I witl pay those amounts in tull on that date, whiCh is Called the "matunty date." I will make my monthiy payments atSuilTrust Mortgage C~m a~~ Pe,at nffirP RpY ~(~nn(1~ Orlando, Florida 32891-$041 , or at a difterent place ii required by the Noie Holder. ~ (B) Amount of ~y Inltlal Monthty Paymenta. Each of my init~at monthly payments will be in the amount ot U.S. a300. S1 . This amouni may change. ~ C Manthl Pa ~st Cha es. Chan es in m monthl 1? Y~ ~ 9 Y y Payment wil! reflect changes in the unp2~id prlncipal of my ban and in ~ the ir'~:rest rate that i mus! pay. The Note Holder will determine my new interest rate and ths changed amount ot my monthty payment in a~cordance with Section 4 ot this Nole. 0 4. INT~REST RATE AND MONTNLY PAYMENT CHAN~3E3. I ~ (A) Chang~ D~t~s. The interest rate I will pay may change on the tirst day ot October 19 gp ~ and on that day every 12th month thereafter. Each date on wh~ch my interest rate could change is called a"Change Date." ! ~ (B) Th~ Index. Beginning with the tirst Change Date, my interest rate will be based on an Index. The "tndex" is the weeky average ~ yiefd on United States Treasury secur~ties adjusted to a constant matuti,y of t year, as made ava~labie by the Federal Reserve Baard. The ~ existing index veiue is 8.18 although ypur initial inter@st rate is not necessarily bSSed on this index. The most reCent index ~ figure available as of the date 45 days be(ore each Change Date is called the "Current fndex." It the Index is no longer available, the Note ~ Holder will choase a new ~ndex wh~ch is based upon comparable intormation. The Note Hotder will give me notice of this choice. ~ (C) Catcul~tlon of Chen~es. Before each Change Date, the Note Holder will calculate my new interest rate by adding Three Point Seven-Five percen!age points 7 5 94u) to the Current Index. The Note Holder will € then rour~ the result o( this addiUOn to the nearest one-eighth o! one percentage point (0.1259~6). Subject to the limits stated in Section 4(D) ~ below, this rounded amount will be my new mteres~ rate until the next Change Date. The Note Holder will then determine the amount of the ~ monthty payment that woutd be suH~cieni to repay the unpaid principal that I am expected to owe at the Change ~ate in iull on the maturiry date at my new interest rate in substantially equal paymsnts. The re~sult of this ca~ulation will be the neHr amount of my monthy payment. ; (D) Llmfts on IMersst Rats Chanyes. The interest rate I am required to pay at the first Change Date wfil not be greater than ~ 10. 25 qb or less than 6• 25 Thereafter, my interest rete will rtever be increased or decreased on eny single Change DBte by c more than two percentage points (2.~4~6) trom the rate of interest I have been paying tor the prec~ding 12 months. My interest rate wiH never ~ t~e greater than 14.25 4b. ~ (E) CH~etlw Dat~ ot Chan~s~. My new mterest rate wfll become eHeciive on each Change Date. I wiH pay the amount ot my new ~ monthty payment beginning on the first monthly payment date after the Change Date unti+ the amount ot my monthly payment changes again. E ~ ~ Notlcs of Changs~. The Note Hoider wil! de6ver or mail to me a notice oi any char?ges in my inlerest rate and the amount oi my mor~thly payment betore the effective date of any change. The r~otice will include iniormation required by law to be given me and atso the Utle and telephone number ot a person who will answer any questian I may have regard~ng the notice. Maker understands and agrees that the add~t~onal agreements and provisions on the reverse side hereot, hereby incorporated by reference, constitu~e agr ements of the~ M~ce a a part of this note. Maker acknowledges r i t o1 a completed copy o( this note. , Lo Bo r Thomes C. McCann Borrower Euleen McCann - Borrower Borra~ver Address 3172 Columbrina Circle, Savanna Club, Port St Lucie, Florida 34952 Of~iCer Initief8 AHicer Number 575 v ~ J 30a0 80C1( 657 PA~E~888 Sun BaNc Pok Coumy - fiev 10187 ~ SunBsnWT?eeeure Coast. N./l -(4•88) V,~u~*~ pan~ r'~r• vF~ ~ f~M~ a3~~ r.. . ' ~ "r _ ,.,s,_ ~ r- ..,x,.~ m.: =~~s ..~s~a