Common use of Interest Rate and Monthly Payment Changes Clause in Contracts

Interest Rate and Monthly Payment Changes. (A) Change Dates The interest rate I will pay may change on the first day of May, 1990 and on the first day of every 6th month thereafter. Each date on which my interest rate could change is called a "Change Date." (B) The Index Beginning with the first Change Date, my interest rate will be based on an Index. The "Index" is the Prime Rate reported in THE WALL STREET JOURNAL (Eastern Edition) in its general guide to money rates as the base rate on corporate loans at large U.S. money center commercial banks. If this rate is reported as a range of rates, the rate used will be the highest rate reported. The most recent Index figure available as of the date 45 days before each Change Date is called the "Current Index." If the Index is no longer available, the Note Holder will choose a new index which is based upon comparable information. The Index may not be reported in THE WALL STREET JOURNAL or any other newspaper, but will be an Index about which public information is readily available. The Note Holder will give me notice of this choice. (C) Calculations of Changes Before each Change Date, the Note Holder will calculate my new interest rate by adding 0.00 percentage points ( 0.00 %) to the Current Index. The Note Holder will then round the result of this addition to the nearest one-eight of one percentage point (0.125%). Subject to the limits stated in Section 4(D) below, this rounded amount will be my new interest rate until the next Change Date. During the first 120 months of this loan, the Note Holder will determine the amount of my new monthly payment that will be sufficient to pay the monthly interest charges on my loan at my new interest rate. Beginning with the Change Date on November 1, 1999, the Note Holder will determine the amount of the monthly payment that would be sufficient to repay the unpaid principal in full on the Maturity Date at my new interest rate in substantially equal payments.

Interest Rate and Monthly Payment Changes. (A) Change Dates The interest rate I will pay may change on the first day of MayMay __, 1990 1990, and on the first day of every 6th month thereafter. Each date on which my interest rate could change is called a "Change Date." (B) The Index Beginning with the first Change Date, my interest rate will be based on an Index. The "Index" is the Prime Rate reported in THE WALL STREET JOURNAL (Eastern Edition) in its general guide to money rates as the base rate on corporate loans at large U.S. money center commercial banks. If this rate is reported as a range of rates, the rate used will be the highest rate reported. The most recent Index figure available as of the date 45 days before each Change Date is called the "Current Index." ". If the Index is no longer available, the Note Holder will choose a new index which is based upon comparable information. The Index may not be reported in THE WALL STREET JOURNAL or any other newspaper, but will be an Index about which public information is readily available. The Note Holder will give me notice of this choice. (C) Calculations Calculation of Changes Change Before each Change Date, the Note Holder will calculate my new interest rate by adding 0.00 percentage points ( 0.00 (0.00%) to the Current Index. The Note Holder will then round the result of this addition to the nearest one-eight of one percentage point (0.125%). Subject to the limits stated in Section 4(D) below, this rounded amount will be my new interest rate until the next Change Date. During the first 120 months of this loan, the Note Holder will determine the amount of my new monthly payment that will be sufficient to pay the monthly interest charges on my loan at my new interest rate. Beginning with the Change Date on November December 1, 1999, the Note Holder will determine the amount of the monthly payment that would be sufficient to repay the unpaid principal in full on the Maturity Date at my new interest rate in substantially equal payments.

Interest Rate and Monthly Payment Changes. (A) Change Dates The interest rate I will Borrower must pay may change on the first day of May_______________________, 1990 _______, and may change on the first that day of every 6th _______ month thereafter. Each date on which my the interest rate could change is called a "“Change Date." (B) The Index ” Beginning with the first Change Date, my the interest rate will be based on an Indexthe Current Index as described in the Adjustable Rate Note. The "Index" is the Prime Rate reported in THE WALL STREET JOURNAL (Eastern Edition) in its general guide to money rates as the base rate on corporate loans at large U.S. money center commercial banks. If this rate is reported as a range of rates, the rate used will be the highest rate reported. The most recent Index figure available as of the date 45 days before each Change Date is called the "Current Index." If the Index is no longer available, the Note Holder will choose a new index which is based upon comparable information. The Index may not be reported in THE WALL STREET JOURNAL or any other newspaper, but will be an Index about which public information is readily available. The Note Holder will give me notice of this choice. (C) Calculations of Changes Before each Change Date, the Note Holder will calculate my the new interest rate by adding 0.00 ___________________________________ percentage points ( 0.00 point(s) (____%) to the Current Index. The Note Holder will then round the result of this addition to the nearest one-eight eighth of one percentage point (0.125%). Subject to the limits stated in Section 4(D) below, this rounded amount will be my the new interest rate until the next Change Date. During the first 120 months of this loan, the The Note Holder will determine the amount of my new monthly payment that will be sufficient to pay the monthly interest charges on my loan at my new interest rate. Beginning with the Change Date on November 1, 1999, the Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that Borrower is expected to owe at the Change Date in full on the Maturity Date at my the new interest rate in substantially equal payments. The result of this calculation will be the new amount of Borrower’s monthly payment. The interest rate Borrower must pay at the first Change Date will not be greater than ______________% or less than _____________%. Thereafter, the interest rate will never be increased or decreased on any single Change Date by more than ___________________ percentage point(s) (_________%) from the rate of interest paid during the preceding 12 months. The interest rate will never be greater than ______________%. The new interest rate will become effective on each Change Date. Borrower must pay the amount of the new monthly payment beginning on the first monthly payment date after the Change Date until the amount of the monthly payment changes again. The Note Holder will provide Borrower notice of any changes in the interest rate and the amount of the monthly payment in accordance with the terms of the Adjustable Rate Note.

Interest Rate and Monthly Payment Changes. (A) Change Dates The interest rate I will Borrower must pay may change on the first day of May_______________, 1990 _____, and may change on the first that day of every 6th _____ month thereafter. Each date on which my the interest rate could change is called a "“Change Date." (B) The Index ” Beginning with the first Change Date, my the interest rate will be based on an Indexthe Current Index as described in the Adjustable Rate Note. The "Index" is the Prime Rate reported in THE WALL STREET JOURNAL (Eastern Edition) in its general guide to money rates as the base rate on corporate loans at large U.S. money center commercial banks. If this rate is reported as a range of rates, the rate used will be the highest rate reported. The most recent Index figure available as of the date 45 days before each Change Date is called the "Current Index." If the Index is no longer available, the Note Holder will choose a new index which is based upon comparable information. The Index may not be reported in THE WALL STREET JOURNAL or any other newspaper, but will be an Index about which public information is readily available. The Note Holder will give me notice of this choice. (C) Calculations of Changes Before each Change Date, the Note Holder will calculate my the new interest rate by adding 0.00 _____ percentage points ( 0.00 point(s) (____%) to the Current Index. The Note Holder will then round the result of this addition to the nearest one-eight eighth of one percentage point (0.125%). Subject to the limits stated in Section 4(D) below, this rounded amount will be my the new interest rate until the next Change Date. During the first 120 months of this loan, the The Note Holder will determine the amount of my new monthly payment that will be sufficient to pay the monthly interest charges on my loan at my new interest rate. Beginning with the Change Date on November 1, 1999, the Note Holder will then determine the amount of the monthly payment Monthly Payment that would be sufficient to repay the unpaid principal Principal that Xxxxxxxx is expected to owe at the Change Date in full on the Maturity Date at my the new interest rate in substantially equal payments.. The result of this calculation will be the new amount of Borrower’s Monthly Payment. The interest rate Borrower must pay at the first Change Date will not be greater than ______________% or less than _____________%. Thereafter, the interest rate will never be increased or decreased on any single Change Date by more than ___________________ percentage point(s) (_________%) from the rate of interest paid during the preceding 12 months. The interest rate will never be greater than ______________%. The new interest rate will become effective on each Change Date. Borrower must pay the amount of the new Monthly Payment beginning on the first monthly payment date after the Change Date until the amount of the Monthly Payment changes again. The Note Holder will provide Borrower notice of any changes in the interest rate and the amount of the Monthly Payment in accordance with the terms of the Adjustable Rate Note. Additional changes to the Security Instrument are as follows; those marked are applicable:

Interest Rate and Monthly Payment Changes. (A) Change Dates The interest rate I will Borrower must pay may change on the first day of May_______________________, 1990 _________, and may change on the first that day of every 6th __________ month thereafter. Each date on which my the interest rate could change is called a "“Change Date." (B) The Index ” Beginning with the first Change Date, my the interest rate will be based on an Indexthe Current Index as described in the Adjustable Rate Note. The "Index" is the Prime Rate reported in THE WALL STREET JOURNAL (Eastern Edition) in its general guide to money rates as the base rate on corporate loans at large U.S. money center commercial banks. If this rate is reported as a range of rates, the rate used will be the highest rate reported. The most recent Index figure available as of the date 45 days before each Change Date is called the "Current Index." If the Index is no longer available, the Note Holder will choose a new index which is based upon comparable information. The Index may not be reported in THE WALL STREET JOURNAL or any other newspaper, but will be an Index about which public information is readily available. The Note Holder will give me notice of this choice. (C) Calculations of Changes Before each Change Date, the Note Holder will calculate my the new interest rate by adding 0.00 ______________________________ percentage points ( 0.00 point(s) (____%) to the Current Index. The Note Holder will then round the result of this addition to the nearest one-eight eighth of one percentage point (0.125%). Subject to the limits stated in Section 4(D) below, this rounded amount will be my the new interest rate until the next Change Date. During the first 120 months of this loan, the The Note Holder will determine the amount of my new monthly payment that will be sufficient to pay the monthly interest charges on my loan at my new interest rate. Beginning with the Change Date on November 1, 1999, the Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that Borrower is expected to owe at the Change Date in full on the Maturity Date at my the new interest rate in substantially equal payments.. The result of this calculation will be the new amount of Borrower’s monthly payment. The interest rate Borrower must pay at the first Change Date will not be greater than ______________% or less than _____________%. Thereafter, the interest rate will never be increased or decreased on any single Change Date by more than ___________________ percentage point(s) (_________%) from the rate of interest paid during the preceding 12 months. The interest rate will never be greater than ______________%. The new interest rate will become effective on each Change Date. Borrower must pay the amount of the new monthly payment beginning on the first monthly payment date after the Change Date until the amount of the monthly payment changes again. The Note Holder will provide Borrower notice of any changes in the interest rate and the amount of the monthly payment in accordance with the terms of the Adjustable Rate Note. Additional changes to the Security Instrument are as follows; those marked are applicable:

Interest Rate and Monthly Payment Changes. (A) Change Dates The interest rate I will Borrower must pay may change on the first day of May_______________, 1990 _______, and may change on the first that day of every 6th _______ month thereafter. Each date on which my the interest rate could change is called a "“Change Date." (B) The Index ” Beginning with the first Change Date, my the interest rate will be based on an Indexthe Current Index as described in the Adjustable Rate Note. The "Index" is the Prime Rate reported in THE WALL STREET JOURNAL (Eastern Edition) in its general guide to money rates as the base rate on corporate loans at large U.S. money center commercial banks. If this rate is reported as a range of rates, the rate used will be the highest rate reported. The most recent Index figure available as of the date 45 days before each Change Date is called the "Current Index." If the Index is no longer available, the Note Holder will choose a new index which is based upon comparable information. The Index may not be reported in THE WALL STREET JOURNAL or any other newspaper, but will be an Index about which public information is readily available. The Note Holder will give me notice of this choice. (C) Calculations of Changes Before each Change Date, the Note Holder will calculate my the new interest rate by adding 0.00 ______ percentage points ( 0.00 point(s) (____%) to the Current Index. The Note Holder will then round the result of this addition to the nearest one-eight eighth of one percentage point (0.125%). Subject to the limits stated in Section 4(D) below, this rounded amount will be my the new interest rate until the next Change Date. During the first 120 months of this loan, the The Note Holder will determine the amount of my new monthly payment that will be sufficient to pay the monthly interest charges on my loan at my new interest rate. Beginning with the Change Date on November 1, 1999, the Note Holder will then determine the amount of the monthly payment Monthly Payment that would be sufficient to repay the unpaid principal that Borrower is expected to owe at the Change Date in full on the Maturity Date at my the new interest rate in substantially equal payments. The result of this calculation will be the new amount of Borrower’s monthly payment. The interest rate Borrower must pay at the first Change Date will not be greater than ______% or less than _______%. Thereafter, the interest rate will never be increased or decreased on any single Change Date by more than ______ percentage point(s) (_____%) from the rate of interest paid during the preceding 6 months. The interest rate will never be greater than ______%. The new interest rate will become effective on each Change Date. Borrower must pay the amount of the new Monthly Payment beginning on the first monthly payment date after the Change Date until the amount of the monthly payment changes again. The Note Holder will provide Borrower notice of any changes in the interest rate and the amount of the Monthly Payment in accordance with the terms of the Adjustable Rate Note.