201207581 - Laserfiche WebLink

Browse

20120�5�� LORN #: 0038347852 A3IR: 1005723-0000037611-1 FIXED/ADJUSTABLE RATE RIDER (LIBOR One-Year Index (As Pubtished In The Wall Street Journai)-Rate Caps) THIS FIXED/AU.JUSTABLE RATE RIDER is made this s�x day of 9EPTEt�BER� 2012, and is incorporated into and shail be deemed to amend and supplementthe Mort�age, Deed of Trust, or Securi Deed (the "Security Instrument°) of the same date given by the undersigned ("�orrower") to secure Borrower's Fixed/Adjustable Rate Note (the °Note") to STIFEL BA1QS & TRUBT, a s�: CHARTERED SANR ("Lender�) of the same date and covering the property describ�! in the Security Instrument and located at : 2013 W LOUISE 8T (iRAHD ISLAAJD, I� 68803. THE NOTE PROVIDES FOR A CHANGE IN B4RROWER'S FIXED INTEREST RATE TO AN ADJUSTABLE INTEREST RATE. THE NOTE LIAAITS THE AMOUNT BORRO�iIER'S ADJUSTABLE INTEREST RATE CAN CHANGE AT ANY C)NE TIME i4ND THE MAXIMUM RATE BORROWER MUST PAY. ADDITIONAL COVENANTS. In addition to the covanants and agreemerrts made in the Security Instrument, Borrower and Lender further covenar�t and agree as follows: A. ADJUSTABLE F�►TE AND MONTHLY PAYMENT CHANGES The Note provides for an initial foced interest rate of 2.�so�. The Note also provides for a change in the initial faed rate to an adjustable interest rate, as follows: 4. �►DJUSTABLE INTEREST RATE AND MONTHLY PAYMENT CHANGES � A) Chan�e Dates he inifial ixed irrterest rate I will pay will change to an ad justable interest rate on the �.sz day of o�ros�a, Zoi�, and the adjustabie interest rate I wrill pay may chan�e on that day every i2za month thereafter. The date on which m�r Initial fixed interest rate changes ta an adjustable interest rate, and each date on which my adjustable interest rate cauld change, is called a"Change Date." (B) The Index Be gmning with the first Change Date, my adjustable irrterest rate will be based on an Index. The "Index° is the average of interbank offered rates for one-year U.S. doilar-denominated deposits in the London market ("LI BOR°), as published in The Wall Street Journal. The most recent Index figure available as of the date 45 days befo�•e each Change Date is called the °Current Index." If the Index is no longer available, the Note Holder will choose a newr index that is baseduponcomparableinformation.TheNoteHolderwrillgivemenoticeofthischoice, � C) Calculation of Changes efore each Change Date, the Note Holder will calculate m new irrterest rate by adding TWO AND O�iS—FOURCH percentage point(s� ( a.zso� ) to the Current Index. The Note Holder will then round the result of this addition to the nearest one-eighth of one percentage point (0. i 25%). Subject to the limits stated in Section 4(D) below, this rounded amount vinN be my new mterest rate urrtil the next Change Date. The Note Holder will then determine the amount of the manthly payment that would be sufficient to repay the unpaid principal that I am expected to owre at the Change Date in full on the Maturity Date at my new interest rate in substaritia{ly equal paymerrts. The result of this calculation wrill be the new amount of my mon#hly payment. (D) Limits on interest Rate Changes The interest rate I am required to pay atthefirst Change Datewill not be greaterthan �.�so� or less than a.aso�. Thereafter, my adjustable interest rate will never be increased or decreased on any singie Change Date by mare than Two percentage point(s) ( z.000� ) from the rate MULTISTATE FDCED/ADJUSTABLE RATE RtDER-lA�.l One�Year UBOR-Single Family-Fannfe Mae Unifor I Form 3187 6/07 in3tial� i � 2001-2007 Onllne Documents, inc. P0g0 1 of 3 F .� • .�t l : �1;� I�:+:R�',�'r'