89101980 - Laserfiche WebLink

Browse

r A !f Loan wim 85146 -1 -18 ADJUSTABLE RATE LOAN. RIDER wrm OPTION OF CONVERSION TO FIXED INTEREST RATE NOTICE: THE SECURITY INSi'Rt7MO T SECURES A NOTE WHICH CONTAINS A PROVISION ALLOWING FOR. CHANGES IN THE INTEREST RATE. IN- CREASES IN THE EffEREST RATE WILL RESULT IN HIGHER PAYMENTS. DECRIMSES IN THE WERES`PRATE WILL RESULT IN LOWER PAYM,PeNTS. This Ri&ii�; made Uiis ..._..lit(! ...._ day of . .......................19..$9, and is`incorparr�%+�d into and shi#. deemed to amend and supplement the Nd�rtgage, Deed of Trust, or Deed to Secure D(Alt (the "Secuiiiy. instrument") of the same date' `undersigned (the `Borrower") to secard 3or- (the' "3 "} :i of the same date tier. "Note') and cove; the property described in the Security _Irstra- mecit�iiO hX ' d at ...4317 I�anc �r _ _ .. _.._. :. :.... Grand ..Bland, .Nebraska. . .� P operty Address �.�. . MODIFICATIONS. In addition to ew covenants and agreementa made in the Security Instrument, $ or- rower and Lender farther covenant and agree as follows: L MEREST RATE AND MONTHLY PAYMENT CHANGE DATES pMe Note has an "Initial Interest Rate" of Interest'rate changes may occur on the 1st day of _. _ ................. AY...... .....,19_ N_ and on the 1st ;day of ......................... ft. - -- ....... ,19...91 and am tAe, let day of .._ . - Y .. ..................... ,19.92.. anA d6. the tat day of ..................may.. _.._... , 19413. and on those dates; df• :0mbe, months in every yw i. hereafter. Each date on which the rate of interest may change will be called & `7.. ab-. Ch=ge Date ". Changes in principal and interest payment° to adjng"k amortization of the. f0m, to cli aspond with interest rate changes shall be made an the 1st day, of :.:........... r. �� ..Y ... ........................ .19. !rand on that data. every ..... _.. year(s) thereafter. E�ctdate in ` whi ch the principal and interest, payment may ch=p will be called a "Payment Change Date'': ,;' 2. INTERE&r RATE CHANGES (A) The'Indez Beginning with the first rate change dtjfA, my interest rate will be based on an index. The "Index" fa (fie: (check one box to indicate Index) (1) Q "Contract Interest Rate, Purchase of Previously Occupied Homes, National Average: for all Major Types of Lenders" publipb d by the Federal Home Loan Bank Board. (2) ® I�lont h3 r. averaS :yie;d oa D.S. Treasus�► Securities......._.... .I ......................... att�justed to a cenataat maturity„�of ,1 year „published, by the Federal Reaerye Board. .... ... .. . .. ... ................................................................... ......................--- - - -... _ ....................... ............................... _.................... _ ......... The most recent Index figure available as of the date lb days before each Rate Change Date said 46 bays before each. Payment Change Date is called the "Current Index ". If the Index is no longer available, the Note Holder will choose a new Index which is based upon comparable information. The Note Holder will give me notice of this change. (B) Calculation of Changes Before each Rate Change Date or Payment Change Date the Note Holder will calctlate my new interest rate by adding ..LW.0 .......... percentages points (._2.MO ...... %) to the Current Indies. The results of this addition will be my new interest rate until the next Rate Change Date or Payment Change Date. On cuch Payment Change Date, the Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal balance of my loan I am exerted to owe on the Payment. Change Date in full on the maturity date at my nEw interest rate in substantially equal pay- ments. The result of this calculation will be the amount of my new principal and interest payment until my neat Pa,mmt Change Date. (Check box(s)) (1) P If this box is checked, there will be no maximum limit on changes in the interest rate up or down. The interest rate as calculated under Section 2 (D) will lte the new interest rate. (2) If this boa is cheded. to interest rate that I pay shn-0 not increase more than .......200 . ........... percentage pots on any Payment Change Date. 200 (3) ja If this box is checked, the interest rate that I pay shall not decrease more than... ....... .......... percentage points on any Payment Change Date. (4) j_l If this box is checked, the interest rate that I pay shall not increase more than .................. percentage points on any Rate Change Date. rcins WIG a �a. w J