№ lp_2_1_14834
Legal promissory note establishing the borrower’s obligation to repay a residential mortgage loan with an initial fixed interest rate converting to an adjustable rate tied to the 30-day Average SOFR index under specified adjustment periods, caps, payment terms, and replacement index provisions.
Document Type: Fixed/Adjustable Rate Promissory Note
Loan Type: Residential Mortgage Loan
Interest Structure: Fixed to Adjustable Rate
Index: 30-day Average SOFR Index
Index Publisher: Federal Reserve Bank of New York
Currency: U.S. Dollars
Payment Frequency: Monthly
Adjustment Frequency: Every 6 Months After Initial Change Date
Rate Caps: Periodic and Lifetime Limits
Parties: Borrower and Lender
Transferability: Transferable to Note Holder
Maturity: Maturity Date Specified in Note
Property: Secured by Identified Property Address
Governing Provisions: Replacement Index and Replacement Margin Clause
Price: 8 / 10 USD
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