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<br /> ' ' I�1'AN #: 01317�255 `- �
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<br /> � ADJUSTABLE RATE RIDER . �,-o:,'::---
<br /> , • ' � 1 Yca�TreaK�tr,y Index--KRte Caps) �7° ��'O�6 t •
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<br /> � THIS AD1US7'ABLE KATE RIDER is madc this lg'�i day of D�C�, 1997 ,and is iucorEroratcd into ond . :;�;.��;>:
<br /> shall be dcemcd to amend and supplcmcnt ihc Mortgagc,Uecd of Tntst or Secutity Deed(the"5ccuriry Iizswment")uf thc setnc clatc :,;�.�,
<br /> , givcn by tha undcnigncd(thc"Borrowcr")to e;ecure Rorrower's AdJustable Ratc Note(the"Notc")to "s��;,..
<br /> ' OC.l�I+ �'�IL �7R'!� O�P�1R'ICN �����f;:
<br /> • (the"Lcndcf')of thc same datc and coveting the property descdbed(n ihe Security Instrument and located at: . •'s'=-""`:;.
<br /> „ ��� '•KVT:.-...
<br /> ' B319 8 Si��API�S�x.LE RD. VA� RNSt. NE 68883 ,_yV�,�.'
<br /> ..�� � [Prop�rty Addn��] --__-
<br /> ^"'"`,�� THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE "� -�-
<br /> :�'�:,`—
<br /> � �" � f MONTHLY PAYMENT. THE NOTE UMITS THEANIOUNT THE BORHOWER'S INTEREST RATE CAN _.
<br /> � , ,� CHANOE AT ANY ONE TIME ANp THE MAXIMUM RATE THE BORROWER MUST PAY. '.;�:c�__
<br /> ADDTITONAL COVENANTS. In additian to the covcnan�s and sgreeiuents madc in the Sceurity Instntmcnt,Botro�ver and L.endcr ���=_
<br /> � futther covenant nnd agree as foUows: - :":"
<br /> ���,
<br /> �� A. INTEREST RATE AND MONTHLY PAYMEN'T CHAN(3ES '=
<br /> 1'he note provides for an initixl iuterest rata of 7.875 �O.The Note provides for changes in the interest F=��°`
<br /> � ratc and the moathly paymentv,as follaws; -'
<br /> ° � 4. IN1'EREST RATE AND MONTHL.Y PP,YMENT CHAN(3ES t= _
<br /> `` (A) Change Dates
<br /> The interest tatc I will pay may change on thc fitst dny of JAt��[ ,19 2A03,and on that day cvcry 12��th �".`-
<br /> •� theteafter.Fach date on which my intetesttate cauld chengc is called a"Chaagc Datc." �
<br /> (B) The Indcx s
<br /> '-�. Beginning with the tirst changc Date,my interest rate wtll be bascd on an Index.The"Index"is the weekly average yicld on Uaited
<br /> States Tteasury Securldes adJusted to a constant maturlty of i Y� ,as made availablc by the Federal Resecve
<br /> • �� Board.The most rccent Index figure available as of the date 45 dnys before cach Changc Date is called We"Curtent Index:'
<br /> If the index is no longer available,the Nate Halder wlll choose a new Index which is based upon comparable informadon.The Note
<br /> �' Holder will give me notice of tlils choice.
<br /> 1�• (C) Calculationof Chenges �� � �� ��}g
<br /> Before each Change Dau,the IVotc I-Iolder will calculate my ncw intcrest tateriy aa�ng perce—nfage paints( 3�625 °�)
<br /> � �� to the Current Index.'lt�e Nou Holder wUl then round the result of this additiott to the neamst ono-cigL[h of oac percenusge poiui
<br /> �° • (0.125,°b).Subject to the limits statcd 1n Section 4(D)below,t6is munded amouat wlll be my new)nterest rate until Wc uext Chaage Date.
<br /> 'It�e Note Holder will then determine th�amount of the montlily payment that would be suff{ctent to npay the unpald princlpal that I
<br /> am expected to owc at tLe Change Date in full on the maturlty date at my new intemst rate in substandally equal paymcnts.'lrtie tesult of
<br />� this calculation will be the new amount of my montt,ly payment.
<br />- (D) Limits on Interest Ratc Changcs
<br /> Thc interest ntte I am rcquited to pay at the first Chenge Date will not be grcatex than 9.875 ;b or less than 5.875 %. -
<br /> ;; Thereafter,my interest ratc will ncvcr bc increased or dccrcasecl on any singlc Change Date by morc than '�centage points
<br /> � 2.004�)�m the ratc of interest I have been paying for the preceding �lt� months.My intcrest ratc will
<br /> . ncver be greater than 12.375�,.
<br /> � t (E) Effective Dau of Changes
<br /> � My new interest rate will be�ome effcctive on each Chaage Date.I will pay the amouttt of my new monthly payment beginning on the
<br /> first monthly payment date after the Change Date until ttu amount of my montlily payment changes again.
<br />= (E�Notice of Changes
<br />-' -' Thc Notc Holder v:ill deliver or mail to me a ttotice of any changes in my interest tate and ihe amottnt of my monthly payment befot+e �______
<br /> • the effectivc datc uf any chnnge.The nodcc will include infotmadon required by law to be givcn me and also the dtle and telephone
<br /> - nwnber of a petson who will enswer any quest{on 1 may havc regerding thc notice.
<br />-- B. TRANSFER OF THE PROPERTY OR A BENEFICIAL WTEREST IN BORROWER
<br /> �• Un3form Covcnent 17 of thc Security Instwnent is amended to read as follows: �--
<br /> %; �� �• 'x'rausfer of thc property or a beneticial interest in borrowcr.If all or any pazt of the properry or any intcrest in it is sold or ttansfencd
<br /> (or if a beneficial interest 1n Bottowcr is sold or transfcrtcd and Bonowcr is not a natural person)without Lettder's prior wrltten consent, �
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<br /> Lender may,at its optlon,requ{rc immcdiate payment in full of all sums secured by this Sccurlry Instrument.Lender also shall not exercise e'�T��___
<br /> this option if:(a)Borrowcr causcs to be submitted to Lcnder infor►nation rcquired by Lendcr to cvaluatc the intended transfetec as if a ncw -�:�{,;t:
<br /> loan were being made to tlie transferce;and(b)Lcnder reasonably detcrmines that Lendcr's sccurity will not bc impalred by the loan =.
<br /> nssumption and that the risk of a breach of any covenant or agreemcnt in this Sccuriry L�strument is acccptable to Leuder.
<br />- To the extcnt permittcd by applicaUle law,Lcndcr mny chargc a rcasonablc fec as a condition to[.ender's consent to thc loan
<br /> assumpdon.Lendcr may ulso requirc thc ttansfcrce to sign an assumption agrecmcpt thnt is acceptablc to Lcnder and that obligates thc
<br /> uansferee to keep all thc promises and agteements made in the Piote and in this Security Insttument.Borrowcr will continue to bc
<br /> obligated under the Notc and this Securiry Instrumcnt unless Lcnder rcicases Borrowcr in writing.
<br /> 1f I,ender exercises the option to requirc immediute payment in full,Lender shall glve Borrower notice of acceletation,The noticc
<br /> - shall provide a pertod of not]css than 30 dnys from thc datc ihe nnticc is dclivered or mailed within which Borrower must pay all sums
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<br /> SCCIl[CQ Oy 1t115 JCCUtIIY ltlSl[UIIICtII.ll OUltvwct/utw w�ur wwc auauu En iw w u,v..npuo•avu..a..,,u l...a.w�...............y .............y
<br /> remcdies permittcd by this Security Insuument without further notice or demanci.on Borrower.
<br /> _ � BY SIGNING BELOW,Borrower accepis and agrees to the tetrns and covenants contained in this Adjustable Ratc Ridcr.
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<br /> . �/, _ ,.[.� � /%.����� (Seal) ..� �.�w.� �� ��.�.,,�.-�c(Seal) �
<br /> Tf�S IIOA7I3 VAPNiTI[��E -'��"'"'•' - ITH I�1E�.E VAI�IV�TII��E -a"'�`"��
<br /> , {Seal) (S�ol) �
<br /> - -Borrow.r Borrowu
<br /> - /Sign Origtnal On[y/
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<br /> MULTISTATE ADJUSTABLE RATF RIDER-ARM 6-2 -Single Family- �
<br /> ' Fanni�Mae/Freddie Mac Uniform Instrument Form 311 1/3/86 EC-3002(REV 08/94)
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