89101353 - Laserfiche WebLink

Browse

L. .-l. ADJUSTABLE RATE RIDER $� 101353 (1 Year Tram" Index•itate Caps) THIS ADJUSTABLE RATE RIDER is madethis I Oth day of march 19 89 and is incorporated into and shall be deemed to amend and supplement the Mortgage. Deed of Trust, or Security Deed (the "Security tMaument ") of t_he samQ dots givers by the t±sigrmwd (the `'Borrowrer ") to P-mire Borrower's At+ps taaw 11 t" N.+e (ft "Note ') to HMl FEDERAL-SAVINGS i LOAN ASSOCIATION OF GRAND ISLAND, NEBRASKA (the "Lender ") of the same date and covering the property described in the Security Wtrument and located at: 630 Alorth_Custer_. Grand Island, Nebraska (Property Address) TW tt41e coatalm gnviim a:owhtS for cbMes in w faiertttt tale and seep maatW oay,eats. This mole dw Visits the au vt my interest rate can cbasre at nay one dw d sin tie ddataw sad tie awdsa a rate l mat gay. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. IN£ERPS'T RATE AND MONTHbY PAYMENT CHANGES,.'.' The Note provides for an initial interest rate of 12.f 1 ;°li: Section 4 of the Note provides for changes in the interest rate and the monthly payments, as follows: ;2. ' 4. INTEREST RATE ANDMONTHEY1+`d.1r1 &NrCm4(Y,+,r -s (Ali ChmpDates ' Thrirpr -a st rate I will pay may change on the I`srst day of ' Apr-L� . .19 Qn _ , and en that daycv s ti �I e months thereafter. Each date on which my interest raneowfd change is celled a •'Change Date." Qq7 Tie lade: BegEnning with the first Change Date, my interest rate will be h"s on an Sm&e _ $'Se is the weekly average yield on United: Stn4;s Treasury securities adjusted to a constant matunty.of 1 year, as pub.- avai.%Wz t: tae Ee izJi .Reserve Board. The most recent Index 11-i e available as of the date43 days before each Change t](t33e is called t3:s "Crurem Yom, ' If the Index is no longer available. the Note I -U:Wer will choose a new index which is Eresed upon comparable information. The N.-71e Holder will give me notice ofthis chalr� .: (4� Caledatioaa�tCilaaga ..:�' .. , Before each Change Date, the 1 gif Holder will calculate my new interest rate by addirg - 11C29 8F;9�half percc�uge points ( 3 vFj tFi) to the Catrrem Index gall rounding to the nearest C ltlth of 1 976, subject to the limits stated in Section 4(D), bdnw., This rounded amount will be my new fs- crest rate until the next Change Date. The Note Haider wig then dix wWrie the amount of the' ic,_thly payment that would be sufficient to repay in full the principal f am expected to owe on that Change Date W substantially equal pays acts by the maturity date at my new interest rate. The result` of bell cakolatinr will be the new amount of my monthly payment. . (D) limb on Iaterat Rafe al f"a The interest rate I am require: to pay a: the first Change Date will not be greater than .A Ai t°i tai pep than 10.0 qi. Thereafter. my 1mcunt rate will never be i.;rxeeaed or decreased on any single Change Date by more t1J a ^ from the rate of intermit I b, ave been paying for the ,;receding twelve months. The minimum interest rate on shier Tian will net yr use, less than 9 • NO and the maximum interest rate will never be gremw than 16.5 M Effective Date of Ciaaga My new interest rate will beccinaefr'e:dve on each Change We;. I will pay the amount of mymew monthly payment begjnning on the first monthly payment date after the Change M4 catil the amount of trT anonthly payment chanar;Win. (F) Notice of Changes The Note Holder will mail or deliver to me 9 notice before each Change Date. The notice w:L a3:a sec rre r, P: (i) the new interest rate, or my loan as of the Change Date; (ii) the amount of my rm;r;thly payment following tk a Change Date; (iii) any additionalmwres which the Note Holders nee{ aired to disclose; and (iv) the address of the ;i::wciation you could contact regarding any questions about the adjusttretss rd :s lye. IA CHARGES; LIENS Uniform Covenant 4 of the Security instrument is amended to rand as 4. Cbarges; Lien. Borrower shat] lain all taxes, assessments, and a(hir chargrs, -nes, and impositions attributable to the Property which may attain a priority over this Security fns xurnent, and leasehold paymer.;:s of ground rents. if any, in the manner provided under paragraph 2 hereof or, if not WW in such manner. by Aorrower making payment, when due, directly to the payee thereof. Borrower shag promptly furnish Leader a;l notices of amounts due under this paragraph. and in the event Borrower shall make payment directly. Borrower shall promptly furbish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument; however, Borrower shall not be required to discharge any such lien so long as Borrower: (a) shall agree in 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 lien in. legal proceedings which in the opinion of Lender operate to prevent the enforcement of the lien or forfeiture of the Property or any pan thereof; or (c) shall secure from the holder of such lien an agreement in a form satisfactory to lender subordinating such lien to this Security Instrument. if Leader determines that all or any pan of the Property is subject to a lien which may attain a priority over this Security instrument. Lender shag give Borrower a notice identifying such lien. Borrower shall satisfy such lien or take one or more of the actions set forth above within ten days of the giving of the notice. C. NOTICE Uniform Covenant 14 of the Security Instrument is amended to read as follows: 14. Nadu. Except for any notice required under appliLabte law to be given in another manner. (a) any notice to Borrower provided for in this Security lastrument shall be given by delivering it or by mailing it by first class mail to Borrower at the Property Address or at such other address as Borrower may dcaignate by notice to Lender as provided herein, and (b) any notice to Lender shali tee given by first class mail to tender's addicts stated herein of to such other address as Lender may designate by notice to Borrower as provided herein- Any notice provided for in this 5truuty Instrument shall be deemed to have ton given to Borrower or 1 ender when given in the manner designated herein. 7. T • 1'- t T - W