89101924 - Laserfiche WebLink

Browse

MULTISTATE AD�IUSTABtf RATE WDER—ARM i,—Fantiio Was Freddie Mac Una m olm (fliftu ent Form 31113 85 -4- ADJUSTABLE RATE RIDER 89 ~f 01924 0 VarTrusary Inks —Rats Cape) THIS ADJUSTABLE RATE RIDER is made this,.. 340day of ...... ........................ 19 and is incorporated into and shall be deemed to amend and supplement the Mortgage. Deed of Trust or Security Deed (the *Security Instrument ") of the same date Sim by the undeisignet! (the "Borrower") to secure Borrower's Adjustable Rate Note (the 'Note) to.....orwest_Bank.Nebraskat National Association .., ...... I ................................................................... (the "Lender-) of the same date and covering the property described in the Security Instrument and located at: .....252I.. Mill ..Riye.r..Road ., .. Grand Isla 68801 ......... ................ .... .................. ....................... A4 ...........».......... ............................... ..................... Property Addircul THE NOTE CONTANS PROVISIONS ALL&MM FOR CHANGES Of THE*MIREST RATE AND THE MONTHLY PAYMENT IM NM LIMITS THE AMOUNT THE, gOpVVWER,S INTEREST RATE CAN' C * MANGE AT AM ONE TIME AND THE MAXIMto BATE THE em ROWER MUST' PAY. ADDMONALCOVENANM In addition to the'covenants acrd agreements made in the Security instrument. Borrower and Lender further covenant and au" as follows: A. INTEREST RATE AND MONTHLY PAVF*tF_NLT CHANGES The Note provides for an initial interest rate of ...&.75...... %. The Note provides for changes in the interest rate and the monthly payments. as follows: 4. IMUEST RATE AND MONTHLY PAYMENT CHANCES (A) Champ Dates The interest rate I will pay may change on the first day of ..... NA&* I ............... 19.2Q.... and on that day every 12th month thereafter. Each date an wNch my interest rate could cit 5ge is called a "Change Date.' (8) The Inki Beginning with the first Change Date. my interest rate will be baso;n an Irdex. The "Index" is rho weekly average yield on United States Treasury securities adjusted to a constant iritimity of I year. as made available by the Federal Reserve Board. The most recent Index'figtzre available as of the dz?r- 45 days before each Change Date is called One "Current Index."** If the Index is no longer avaJl tk.-, the Note Holder will choose a new index which is based upon comparable information. The Note Holder wilt: &1;ve me notice of this choice.. I C) Calculation of Cluages Before each Change Date. the Note Holdcr.'w:'] calculate my new interest rate by adding Twa-.and..zna...ha1f .................. I ......... I ...... percentage pcyir,.s to tke Current Index. The Note Holder will then round the result of this eddhion to the. nearest one- eighth of ono_7 Mcentage point (0. 125%). Subject to the limits stated in Section 4(D) below, this rounded amount will be my rz.x ',;fiterest rate until the next Change Date. The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid prim;iral that I am expected t:owc at the Change Date in full on the maturity date at my new interest rate in substantiall.`; equal payments The ml;lilt of this calculation will be the new amount of my monthly payment. 101 Limits an Interest Rate Changes The interest rate I am required to pay at the first Change Date will not begreatef than ..... 1.0-25 .......... % or less than .... &.75 ..............%. Thereafter. my � merest rate will never be increased or decreased on any single Change Date by more than two per,-.niage points (2.0% !.,-rom the rate of interest I have been paying for the preceding twelve mon2 a. my interest nw.'* will never be greater than _13_75 ...... 4 E) Effective Date of Changes My new interest become effecti-, zi;n taich Change Date. I will pay the amount of mA- yew monthly payment beginning on tint first monthly payrr*c, date after the Change Date until the amount oaf m, mor:12-4y payrnertchanges again. IF) Notice of Chaff The Note Hold" deliver orsnail to me na.t.i4.F.co . f any changes in interest rat t- and the amnfn'i cfr: monthly rx) ment before date of any change. . Pt e notice will include information re qused by law to be giverT me and ai5a the li0it d telephone number of A person who will ans%w any question I mnl !',zve regarding the notk:z, B. rXAN:5frF_R OF THE PROPEWTV OR A BENEFICIAL ENTEREST IN IlMx3WER Uniform Covenant 17 e& the Security Instrurneiit is amended to read as falfaws: Transfer of the rmperty or a Beneficial Interest in Borrower. If all or any part of the Propertyor any interest in it is sold Of transferred (or if a beneficial interest in Borrower is sold or trar4eired and 1wrower is not a natural person) without Lender's prior written consent. Lender may. at its option. require immediate pt5yrnent in 150 of all sums secured by this Security Instrument. "owevcr, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date Of thiSSeCtifity Instrument. Lender also shall not exercise this option if. (a) Boinrower causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made tO dre transferee: and (b) Lender reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of a breach of any covenant or agreement in this Security Instrument is acceptable to Lender. `*The hider figkirc iiiail.1tile Is (11. ilic date the iiihial inierca Filic gas deter 131illud tor [III% loan "a% .... ........ Oo, MULTISTATE AD�IUSTABtf RATE WDER—ARM i,—Fantiio Was Freddie Mac Una m olm (fliftu ent Form 31113 85 -4-