90100418 - Laserfiche WebLink

Browse

� �� AD�[JSTABLE RATE RIDER �� (1 Year Tttasu�y lndex-Rate Caps) 9�,`�0 0 418 i FIiS�D.1U�?AHLfi RATE RtD&R is mada this l�rh ��y.Qq .]antrdlCY ,19 � . � and is inmrpor�ted into and shsU be damed to amend and supplement thc Mortgayc, Dctcf of Ttust,or Secu�ity Deed (the "Secudty Iasttument"1 of the�ame date�ivtn by the undersi�ned(the"Aarrower")to secure Borrower's Adjustable Rate Note(tha"Note")to HO�AE �EDERAL SAVIN�S �LOAN ASSOCIATIQN OF aRAND ISLAN�. NEBRASKA(the"L.ender") of the same date and covedna the Fro�st�d�..c�FL�an tl�tSecurity lnstrument avd 1�^.nterl at� ??�1 Br�tne Grarxl Island, Nebraska 68801 (Proporty Address) TW Note coRW�a provisioa �Ilo�t� tor cA�uie� in my intcrest nte a�d my ma�t6ly P�ymeaW.T�i�aote�o Ilmib t�e a�nn�d my lntenst ntte cae c�tate Rt any one lime aad �No!Me midvam a�d the nwdaam ate I mast p�y. � ADDITIONAL CUVBNANTS.In addidon to the covenanu and agraments made in the Secwity instrument, Bonower artd Lender • furthet covenant and agrae as follows: ' A. AVTF.REST RAT'E AND MONTf�.Y PAYMENT CHANGES ' 71ie Note provides for an inidal laterat rate of 11.0 9�. Section 4 of the Note provldes for changes in the inttrat rate and the m�oathlY payments.a�foUows: ' 1. INTEREST RATE AND MONTHL Y PAYM6NT CNAIJGES (A) Cl�qe Data The interat rate 1 wlll pYy may change on the f ust day of Febxvary _.19 91 ,and on that day every . montha thereafter.Each date on whlch my interat rato could change is called a"Change Date." • (H) Tie I�dex : Hepnniag wIth the 8rst ChanYe DAte.my interest rate will be based on an lndex.'fhe"ladex"is the weekly average yield on United States I 1Yasury securitla adjusted to a constant mAturity of 1 year,as�made available by the Federal Reaerve BoarO.The most recent tndex fignre � available as of the dtte 45 days before each Change Date is called the"Current Index." � If the Index is no lon�er available,the Note Holder will choose a new index which is based upon comparable informatioa.The Note ; Holder wlU�ive me aotia of this choice. � (� CalalaUo�oi C�aosa � �= Before qcd Chinge Date,the Note Holder will calculate my new interest rate by adding �& One 17a1f perceatage {_ = _ . . �L.�t 3_S IuG;�jn t�i!!`.�r��nt in�1�;an�1 r��nAi o tr�th�n�arr__ct 1/Ath tif 1�/i;cubiect to the llttfits ststed iII SCCtiOII 4(D)helOW. - - . —�-- ---� -- -- _ _. ; 'It�is roundod amount will be my new interest rate uatll the next Change Date. . f The Note Holder will then determine the�mount of the monthly payment that would be suf�cient ro repay ia full the principal I am ; ! eacpected to owe on thnt Change Dste ia substanttally egual paymenu by the maturity date at my new interest rate.The result of this calculation __ { will be the new amount of my monthly payment. (D) I�sdb oe Inkmt Rate C6ae�es ' . ; The intaat rue 1 am required to pay at thr first Change Date will aot be greater than 13.0 ri or las than q-n �i.Thereafter.my interest rate will never be increased or decreased on any single Change Date by more than � �t from the tate of interest 1 have ban paying for the preceding t�velve months.The minimum interest rate on this loan will never be less tbat� 9-0 "Fi and the maximum interat rate will never be greater than 16.0 qo, � _ ' (� Eifective Dak ot C�u� � My new interest rate will become effective on each Change Date.I wiU pay the amount of my new monthly payment beginning on the�rst ,. ! montlily payment date after the Change Date until the amount of my monthly payment changes again. � ° � (F� NoUa of C��d ` " The Note Holder will mail or deliver to me a notice beforeeach Change Date.The nodce will advise me of: .i. ' (i) the new interest rate on my loan as oF the Change Date; ' - ' (u) the amount of my montlily payment following the Change Date; (u� any additionYl matters wttich the Note Holder is required to disclose;and (iv) the address of the auxiation you couid contact regarding any questions about the adjustment nodce. " B. CHARGFB;LIENS , Uaiform Covenant 4 of the Sccurity Instrument is amended to read as follows: 4. Crartes;IJe�s.Bonower shall pay all taxes,assessmenu.and other charga,�nes,and impositions attributable to the Property which may � • attain a priority over this Socurity lnsttument�Snd leasehotd payments of gound rents,if any,in the manner provided undcr paragraph 2 hereof , or,if not paid in such manner,by Borrower making payment.when duc,directly to the payee thereof.Borrower shall promptly furnish Lender �I3 notices of amounts due under this puagaph,and in the event Borrower shall make payment direcdy. Bonower shall promptly fumish to Lender receipts evidenclag such payments. Borrower shall promptly discharge any lien which has priority over this Security lnstrument: however,Bonower shall not be required to dixhatge any such lien so long as Borrower: (a)shall agree ia writing to the payment of the , obligation secured by such lien in the manner acceptable to Lender;(b)shall in good faith contest such lien by,or defend against enforcement of such Uen in.legal ptoceedings which in the opinian of Lender operate to prevent the enforcement of the lien or fbrfeiture of the Property ot any ' - - - �art thereof; or(c}shall secure from the holder of such tien an agreement in a form satisfactory to Lender subordinating such lien to this ; Security instrument. I . If Lender determines that all or any part of the Property is subject to a lien which may attain a priority over this Security Instrument, . . _ �.�A�c�+a11�;y.tu+�rnwrr a n�ricP irientifying nuh lien.Harrower shall saticfy such lien or takP on?or m�rP of 2h�a=ts�r.s::t:as.h a�_� �_ - within ttn days of the giving of thc uotict. -� 1 C. NOTIC� ' . � UniForm Covenant 14 of the Security Instrument is amendcd to read as follows: 11. Notke.Except for any notice required under applicable law to be given in another manner,(a)any notice tn Borrowcr pruvided for in�his ~ S�.urity lnstrumcnt stsall bc given by delivering it ar by mailing it by first clas;maif ta Uotrower ai the Property Addresa or at cuch c�thcr addrc�s _ as Borrawer may designate hy notice to Lender as provided herein,and(b�any notice to l.ender shall be given by first dass mail to Lender's � 4 address stated herr,in or to such o�her address as Ltnder may designate by notice to Borrawer as provided herc�n Any nuticc pro�iJed for in lhi� Security In4trument shull be decmed to havc been Rivcn tv Horrower rv Lcuder whcn Riti�en in the mauncr dcti�gna�cd herciu �.