89100844 - Laserfiche WebLink

Browse

T ADJUSTABLE RATE RIDER 89 00944 (1 YeuTrasury Index -Rate Caps) TE2 -LS RC►3r:iABLE RATE RIDER is made this 15th day of February 1 14 89 and is fneotycrtteul into NO shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Dad (the "Security Instrument!') or diet date given by the tmdersigned (the "Borrower ") to were Borrower's Adjustable Rate Now (the "Note ") to IMME "MAK' $AY►At@tM i LOM A8SOC M(M OF QRAND ISLAND NE11111"M (the "Lender ") of the same date and coveting the property &%QiW *...the Security instntmient and located at: 1926 North Hrittard, Crand Tsland Nehraska (PropedyAddress) This tote commas Povisiw abwlag for eha qm N ry istkraa rate oW Q ansci hr p sysseett. Uk tWe Alto Brits the soesont my letaeat rate cut cWW at my on tbW tad Ala the mhdm a acrd 1hs moxirar rate I teeth gay. At r •' ' et. L AM1 -T0K4iL COVENANTS. in addition to the covenants and agreements made in the Security Instrument. Borrower and Leader f alhercovenaataind agree as follows: A. EWUMV BATE AND MONTHLY PAYMENT CHANGES I-Ihie Noter FmOdsa for an initial interest rater of 12X !rs� Svion 4 of tht Note gm-4i4n aku to fife <' ls t1Cntit� :Ltlayillea�ti�aSfollOwS: �4�s 4f7t�i��IK?ifi�tYt_ ; ..j. - 4'- /NnmFsr9uTEAAwmo Zt`FAiy,,,,-- NrCHANGES . ff►) Ciateee iI►Ata .. , , �', The iutnmnnrate I willpay'msy c'-w ate: on the rlrss stay of aTCh .19 and on that day every. IIJgi:IlSs1 .. months thereafter. Each date on which my interest rate cold change is called a'•Change D,aWl (J17 llftCm6 He uniiis with the first Change Date, my interest rate will be based on an Index. The "Index" is the weekly average yield on United States Treasuty secutil(es adjusted to a constant maturity of f year, as made available by the Federal Reserve Board. The most rccent Index figure available as of d* date 45 days before each Change Date is cai. the "Current Index." IT the Indik is no longer available. the Note Holder will choose a new index which is based upon comparable information. The Note Holder *910m me notice of this choice. PC) Ciakdadoo of Changes Sefcoe each Change Date. the Note Holder will calculate my new interest rate by adding LhrRg R ring f ba 1 f percentage points 4 _ . .• , !y to the Current Index and rounding to the nearest I /Sth of 1%. subject to the limits stated In Section 4(D) below. This raunded tunaunt will be my new interest rite until the next Change Date. The Nate Holder will then determine the amount of the monthly payment that would be sufficient to repay is full the principal I am expected t) ogre omthat Change Date in substantially equal payments by the maturity date at my new interest rate. The result of this calculation will be the new amount of my monthly payment. (TA► tWo no Interest Rau Changes The intensv rate 1 am required to pay at the first Ct*arge Date will not be greater than _14.Q sib or less than 0b. Thereafter, my interest rate will or decreased on any single Change Date by more than tion parront 20 r firm the rate of interest I have been payig3 fcT the prmeding twelve months. The minimum interest rate on this loan will never be Ins thin _- R A, ni and the maximum interest rate will never be greater than 16.0 A. (L2 EAI!iit�t�re Date of Chatga hly new iiuerest rate will broom: effcativr on each Change Date. I will pay the amount of my new monthly paymnt beginning on the first monthly payment date after the Change Daaeuntil the- amount of my monthly payment changes again. (II) Nuttier of cha" The Note Holder will mail or deliver tome a notice before each Change Date. The notice will advise me of: (I) the new interest rate on my loan as of the Change Date; (ii) the amount of my monthly payment following the Change Date; (Iii) any additional matters which the Note Holder Is required to disclose; and (iv) the address of the association you could contact regarding any questions about the adjustment notice. I{. CHARGES; LIENS Uniform Covenant 4 of the Security Instrument is amended to read as follows: 4. Chum.Iku. Borrower shall pay all taxes, assessments. and other charges, fines. and impositions attributable to the Property which may attain A priority over this Security Instrument, and teaaehoid payments of ground rents. if any, in the manner provided under paragraph 2 hereof or, if rM paid in such manner, by Borrower making payment, when due. directly to the payee thereof. Borrower shall promptly furnish Lender all notices of amounts due under this paragraph, and in the event Borrower shall make payment directly. Borrower shall promptly furnish to Lender receipts evidencing such payments. Borrower shall promptly discharge any .lien which has priority over this Security instrument; however, lit - rower shall not be required, to discharge any such flee so long as Borrower: (a) shall agree in writing to the pLiment of the obligatiotrse=cd by such lien in the mmaszt_t acceptabl!"ir_rdra; r!b; shall in good faith contest such lien by. or f - ; - 'afaresrtent of such lien isej. Pqo proceefuro which i;:,r opinion of 4^.Ser c re; a -z to prevent the enforcement of the lien or f4rfrimM +af the err; , y part therWW'..or (0 siL* %sat a ",comp Q'it holder of such lien a : aguw�ent in a 6cor. satisfactory to (Lender s�' ;:: rrir D o: 5 I.irsr rp ri ,s Security Inht Anent. if f i'!`'ticitrmines r�z-mj O ;W•, psr:M . **e 6perty fs's•-Itimf" co a lien which ma) &4-x a priority os -= this Security' Instrunmgc, Lender slijili give Borrowe; 4 t otice idbxr..T j,r4 -=A bras;. Borrower shall satisfy such lien or take om or more ne t.-e actions set forth a", -e within ten days of the giving of the notice. C. N0710E Uniform Covenant 14 of the Security instrument is amended to read as follows: 14. Neitke. Except for any notice required under applicable law to be given in another manner. (a) any notice to Borrower provided for in this Security Instrunietit shall be given bydellveAng it or by mailing it by first class mail to Borrower at the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein. and (b) any notice to leader shall be given by first class mail to LendePs address stated herein or to such other address a. Lender may designate by notice to Borrower as provided herein. Any notice provided for in this Security Instrument shall hedtxmcd to have been given to Borrower or Lender when given in the manner designated herein. -±t- r. r. •:o ,4 i A