|
�+1 ",^t'f� r 9'^ L�' f ✓ 'iE FycT - y�°�, r 1��•�' Will 1 I
<br />(�+
<br />S v�A�jy. -,
<br />'�Ma,,,.-.+.c- �+.,..,,,.„yc., ',,,,� F,_.- , :..,..,...sw+:.W.�' ! .s f�"'�••y7. �'^ I
<br />w` ,v�
<br />r by riy� c,n'yr,3.' >'^� J' j•.Au,„r zs. p `z'v,� �' .«. �c,.,.. ,,,. .�..�....,�• - -Y --- .y,,,,.,;
<br />n C Yam e v f s
<br />._..» Y- '�„'�a aa� � a ,�„r, �-S: ar3^i� .�' u•.t"'�F"'• aye........, -yv "
<br />..:1.- •- ...- °..��r..� -i --'-.c i9�v'- -'c ".ba.+.`.m�tVA�' �¢ r".` i -� �.., �Sp S. } 'h wnf'�, :'" ~ j'"
<br />Z
<br />` ADJUSTABLE, RATE RIDER ���"' Qi2 j. 9
<br />(l Yew Treastry todcn -Rate cl")
<br />t _
<br />THiS ,AD1US`�''A.BLE RATE RiDER is nude this »28th_, day of ... April ; ».. 19 9 and is
<br />incur f. ,arated into and shall be deemed to amend and suppkment the Mortgage, Deed of Trust or Security Deed (the
<br />"Security.Instrumeni') of the same date given by the undersigned (the "Borrower) to secure F1�arrower's Adjustable
<br />Rate Note (the "Note') to .... Norwest Bank Nebraska.. National„ Association,,,,,,.....
<br />.... ........M..
<br />.............................................. ............................... (the "Lender -) of the same date and covering the property described to
<br />f
<br />A
<br />n
<br />the Security instrument and located at:
<br />640 East Meves, Grand Island, Nebraska 68801
<br />..................................... .......................... . .... ............................................................................................... ...............................
<br />IPropert7 Addrml \'
<br />THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE
<br />AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE AMOUNT HE BORROWER'S
<br />INTEREST RATE CAN CHANGE AT ANY ONE TiME AND THE MAXIMUM RATE THE BOR-
<br />ROWER MUST PAY.
<br />ADDITIONAL COVF%A!'TS. In addition to the covenants and agreements made in the Security instrument. Borrower
<br />and Lender further covenant and agree as follows:
<br />A. INTERESTt' RATE AND NIONT11LY PAYMENT CHANGES
<br />'The Note provides for an initial interest rate of ..$n75....... %. The Note provides for changes in the interest rate and the
<br />monthly payments, as follows:
<br />4. INTEREST RATE AND MONTHLY PAYMENT CHANGES
<br />(A) Change Dates
<br />The interest rate 1 will pay may ha eon the first day of ............�iay ........................... 19... and on that day
<br />every 12th mo•,th thereafter. Each daze on which my interest rate could change is called a "Change Date."
<br />(B) The index
<br />Beginning with the first Change Date. my interest rate will be based on an index. The "Index" is the weekly
<br />ave-age yield on United States Treasury securities adjusted to a constant maturity of i year, as made available by the
<br />Federal Reserve Board. The most recent index figure available as of the date 45 days before each Change Date is called
<br />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 Two and one
<br />Before each Change Date, the Note Holder will calculate my new interest rate by adding ..... ...............................
<br />half ........ percentage points {...Z,.5Q. ..... %) to the Current Index. Tbc Note Holder will then round the
<br />result of this addition to the nearest one - eighth of one percentage point (0.125 %). Subject to the limits stated in Section
<br />4(D) below, this rounded amount will be my new interest rate until the next Change Date.
<br />The Note holder will then determine the amount of the monthly payment that would be sufficient to repay the
<br />unpaid principal that I am expected to owe at the Change Date in full on. the maturity date at my new interest rate in
<br />subs(intially equal payments. The result of this calculation will be the new amount of my monthly payment.
<br />( D) Limits on interest Rate Changes
<br />The interest rate I am required to pay at the first Change Date will not be greater than ...... 1.0_75.......... a or less than
<br />.......6...75,,.,,,,,,,;'7,. Thereafter, my interest rate will never be increafed or decreased on any single Change Date by more
<br />than tw.o percentage points (2.0`x) from the rate of interest I have been paying for the preceding twelve months. N1y
<br />interest rate will never be greater than .... .1.3_I�..... %.
<br />(E) Effective Date of Changes
<br />My new interest rate will become effective on each Change Date. 1 will pay the amount of my new monthly payment
<br />beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes
<br />again.
<br />(F) Notice or Chances
<br />The Note Holder will deliver or mail to me a notice of any changes in my interest rate and the amount of my monthly
<br />payment before the effective dais of any change. The notice will include information required bylaw to be given me and
<br />also the title and telephone number of a person who will answer any question I may have regarding the notice.
<br />B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST iN BORROWER
<br />Uniform Covenant 17 of the Security Instrument is aincndcd to read as follows:
<br />Transfer of the Property or a Beneficial Interest in orrowcr. If all or any part of the Property or any interest in it is
<br />sold or transferred (or if a beneficial interest in borro•hcr is sold or transferred am Borrower is not a, natural person)
<br />without Lender's prior written consent. Lender may, at its option. require immediate payment in full of all sums secured
<br />by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law
<br />as of the date of this Security Instrument. Lender also shall not exercise this option if: (a) Borrower causes to be
<br />submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made
<br />to the transferee: and (b) Lender reasonably determines that Lender's security will not be impaired by the loan
<br />assut";ption and that the risk of a breach of any covenant or agreement in this S:_urity Instrument is acceptable to
<br />Lender.
<br />"The In.1ex figure available as of the date the initial interest rate oa,, determined for this loan was 9.'47........... a, -,.
<br />MULTISTATE A0.°:)STABLE RATE RIDER —ARM 5.2 —Swg6- Farr :ly — Fannie Mae: Fredd,i Mac Uniform Instrument
<br />NC 17760 LNO (3.87 11061
<br />Form 3111 J 85
<br />
|