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4. Exhibit 3: Model Adjustable Rate Note Form

Change Date

May 10, 2009


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12.A.4.bb. Additional Notes About the Model Adjustable Rate Note Form

Include any required or customary form or authentication.


The model form is a multistate form which must be adapted for some jurisdictions to reflect the laws and practices of the particular jurisdiction in which the Property is located. The form should not be adapted for jurisdictions in which the multistate version of the FNMA/FHLMC note is used. For other jurisdictions, adaptations should generally follow the corresponding provisions in the FNMA/FHMLC note form approved for use in the jurisdiction, with any additional adaptations that may be necessary to conform to requirements of law and practices in the jurisdiction. For Puerto Rico, see the special instructions in HUD 4155.2 6.B.5.

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