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200005780
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Last modified
10/13/2011 5:40:21 PM
Creation date
10/20/2005 8:58:00 PM
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DEEDS
Inst Number
200005780
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200005780 <br />FIXED /ADJUSTABLE RATE RIDER 002000011209 <br />(1 Year Treasury Index - Rate Caps) <br />THIS FIXED /ADJUSTABLE RATE RIDER is made this Seventeenth day of July , <br />2000 , and is incorporated into and shall be deemed to amend and supplement the Mortgage, <br />or Security Deed (the "Security Instrument ") of the same date given by the undersigned <br />(the "Borrower ") to secure Borrower's Fixed /Adjustable Rate Note (the "Note ") to <br />Citibank, F.S.B. <br />(the "Lender ") of the same date and covering the property described in the Security Instrument and located at: <br />4120 Manchester Road, Grand Island, NE 68803 <br />[Property Address] <br />THE NOTE PROVIDES FOR A CHANGE IN THE BORROWER'S FIXED INTEREST RATE <br />TO AN ADJUSTABLE INTEREST RATE. THE NOTE LIMITS THE AMOUNT THE <br />BORROWER'S ADJUSTABLE INTEREST RATE CAN CHANGE AT ANY ONE TIME AND <br />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 />A. ADJUSTABLE RATE AND MONTHLY PAYMENT CHANGES <br />The Note provides for an initial fixed interest rate of 8.000 %. The Note provides for changes <br />in the initial fixed rate to an adjustable interest rate, as follows: <br />4. ADJUSTABLE INTEREST RATE AND MONTHLY PAYMENT CHANGES <br />(A) Change Dates <br />The initial fixed interest rate I will pay will change to an adjustable interest rate on the first day of <br />August 2005 ,and the adjustable interest rate I will pay may change on that day every <br />12th month thereafter. Each date on which my adjustable interest rate could change is called a "Change Date." <br />(B) The Index <br />Beginning with the first Change Date, my adjustable interest rate will be based on an Index. The "Index" is <br />the weekly average yield on United States Treasury securities adjusted to a constant maturity of 1 year, as made <br />available by the Federal Reserve Board. The most recent Index figure available as of the date 45 days before each <br />Change Date is called the "Current Index." <br />If the Index is no longer available, the Note Holder will choose a new index which is based upon comparable <br />information. The Note Holder will give me notice of this choice. <br />(C) Calculation of Changes <br />Before each Change Date, the Note Holder will calculate my new interest rate by adding Two & 75/100 <br />percentage point(s) ( 2.750 %) to the <br />Current Index. The Note Holder will then round the result of this addition to the nearest one - eighth of one <br />Form 3182 5/94 <br />MULTISTATE FIXED /ADJUSTABLE RATE RIDER - 1 Year Treasury Index - Single Family - Fannie Mae Uniform Instrument <br />3182 (12/21/1999) [002000011209] Page 1 of 3 Initials: 6 Gr <br />
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