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200005397
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Last modified
10/13/2011 5:14:56 PM
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10/20/2005 8:51:05 PM
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200005397
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8209043 <br />FARR- 0741 -1 <br />ADJUSTABLE RATE RIDER <br />FHA Case No. <br />321 - 2068866 703 <br />THIS ADJUSTABLE RATE RIDER is made this 30TH day of JUNE , <br />2000 , and is incorporated into and shall be deemed to amend and supplement the Mortgage, <br />Deed of Trust or Security Deed ( "Security Instrument ") of the same date given by the undersigned <br />( "Borrower ") to secure Borrower's Note ( "Note ") to WELLS FARGO HOME MORTGAGE, INC. <br />(the "Lender ") of the same date and covering the Property described in the Security Instrument and located <br />at: 503 N SHERMAN, GRAND ISLAND, NE 68803 <br />[Property Address] <br />THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE <br />INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE <br />AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE <br />TIME AND THE MAXIMUM RATE THE BORROWER MUST PAY. <br />ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security <br />Instrument, Borrower and Lender further covenant and agree as follows: <br />INTEREST RATE AND MONTHLY PAYMENT CHANGES <br />(A) Change Date <br />The interest rate may change on the first day of OCTOBER , 2001 and on <br />that day of each succeeding year. "Change Date" means each date on which the interest rate could change. <br />(B) The Index <br />Beginning with the first Change Date, the interest rate will be based on an Index. "Index" means the <br />weekly average yield on United States Treasury Securities adjusted to a constant maturity of one year, as <br />made available by the Federal Reserve Board. "Current Index" means the most recent Index figure <br />available 30 days before the Change Date. If the Index (as defined above) is no longer available, Lender <br />will use as a new Index any index prescribed by the Secretary. As used in this Rider, "Secretary means the <br />Secretary of Housing and Urban Development or his or her designee." Lender will give Borrower notice <br />of the new Index. <br />FHA Multistate ARM Rider - 10/95 <br />(M-591U (9705) r <br />Page 1 of 3 Initials: <br />VMP MORTGAGE FORMS - (800)521- 291 <br />
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