|
ADaUSTABLE RATE RIDER
<br />(1 Year Treasury index- lkateCaps) W-104826
<br />�� A�gtTHISADIUSTABLERATERIDERistsadeb y . 19_x.
<br />OvA a iacorparattad litter aid shall be dmmed to amwA and suppkteent the Mortgage, Deed of ;Yost, cc Security Deed (the "Security
<br />Instrutaesft") of the sattaie dtuesiven by the undersigned (tile "Borrower ") to secure Borrower's Adjustable Rata Now (the "Note") to HOME
<br />FEDEILAL SAVWU i LOAN Alitt)ElATh9N OF GRAND ISLAWL HEllli M (ft "I.endtr "} of the saris date and coveting tito-
<br />pcoQatty deswibad in the Security Inttrument and locaW al:
<br />403 West Oxnard, Grand Island, Nebraska
<br />(Property Address)
<br />?Ma tale etttttlafat gtwvfaiaas aiarrhag tar ehrtrutE is asy i xis rate tit d try tttsatrt#T
<br />ptry�ii :.'tLio New abar am" at soma my114 tree; tnwiciAittA #ttt`t�rEW. owai --
<br />rlra.ytk . MI .tMttMSlrim re ft I rust py.:
<br />< rf• �`
<br />'1. V1 T4
<br />fart aln�� •in the Securi [nstrutnifif .jf(r�tT#nt�fi'itbif�•
<br />ai efts ca�eltattts :�+ n+ .
<br />!iy ; 11A'FE AW46. !i�'Ai'1'HLY IPAYMF,Ni CK4WFS
<br />'1.1se Note provides for an iniflol,iittetest rate of .: 94. Section 4 of the Note provides for changes In the Interest rate and the
<br />momlily payments. as follows:
<br />4. INTEREST RATF. AND MONTin. Y P.1 YwNT GNANGFs
<br />(A) lAtttt- DOW
<br />The interest rate I will pay may change on the first day of SpptPmhpr _ .1989 r . teed on that day emy
<br />•,�;;�_ months thereafter. Each date on which my interest rate could change is called a "Change Date."
<br />(1) The htlltx
<br />Beginning with the first change Date, my interest rate will be bated on an Index. the "index" is the weekly average yield on United States
<br />Treasury securities adjwted to a constant maturity of I year. as made avaliabk by the Federal Restive Board. The most recent Index figure
<br />available as of the dote 43 dayx before each Change Dato is called the "Current Index."
<br />If the index is no longer available, the Note Hoii r will choose a new index which is basal upon comparable inforrisation. The Note
<br />Holder will give tie Mice of this choice.
<br />(C) cwltq hr of ta"00
<br />Before each ChaW !)ate, the Note Holder will calculate my new interest rate by adding _ two and one half percentage
<br />points - 2 -5 �) to the Current index and rounding to the nearest f /gth of 1!i, subject to the limits stated in Section 4(D) below.
<br />This rounded aniouste will be tay crew interest rate until the next Change Date.
<br />TI)e Note Holder will then determine the amount of the monthly payment that would be sufficient to repay in full the principal 1 aura
<br />env m-ed to owem Ahat Cb mW Dart in substantially equal payments by the maturity date at my ne.v Warrest rate. The result of this calculation
<br />wilt: Cod the new amount of trg!tttnothly payment.
<br />: • QD) illdls s+a IttlteassMPllfaileC,7Lturgea
<br />The interest rate t am, - ;required a� ivy at the first Change Date will not be greater s:Kiudt,• -•_�i'r:z ----- �i or less than
<br />6.5 �►, Thereaftrx: my interest ra';e %ill never be increased or dazrrased on any single Q!0w.. by more than two lucent
<br />irons the rate rwri Interest 1 have been paying for the preceding twclve monf t,s The minimum interest rate on this loan will never be
<br />Tdsts than 6.5 _ _ v aril the maximum interest rate will never be grcatet than __13,5
<br />. IFa Ukcihv Date M C1tagrs
<br />My new interest rate will bhomeeffeclive on each Change Date. I tWn ;} i ;ay the 4- .touts of my new monthly payment beginning on the fast
<br />monthly payment date after the Change !late until the amount of my min-; y paytnerrcttanges again.
<br />(F) No4fee of (,'ita"
<br />The Note Holder will mail or deliver to ne a nut ice bc1lo7e rar_h Change Date. The ctme will advise me of:
<br />(i) the new interest rate on my loan a!; of the Change bate.
<br />(ii) the amount of my monthly payment following the Change Date:
<br />(iii) any additional matters which the Note Holder ii required to disclose; and
<br />(iv) the address of the association you could contact regarding any questions about the adjustment notice.
<br />Ili. CfHANG04; LIENS
<br />Uniform Covenant 4 of the Security instrument is amended to read as follows:
<br />4. Chargaa; Lim. Horrower shall pay all taxes. assessments, and other charges, fines. and impositions attributable to the I'roperty which may
<br />attain a priority over this Security Instrument, and leasehold payments of ground tents, if any. to the manner provided under paragraph 2 hereof
<br />o►, if not paid in swh martin. by Borrower making payment. when due, dirMly to the payee thenuf. Borrower shall promptly furnish ;.ender
<br />all mices of amcnirts due under this paragraph. and in the event Borrower shall make payment directly. Borrower shall promptly furnish to
<br />trndet receipts evidencing such paytntnts. Borrower shall promptly discharge any lien which has priority over this Security instrument.
<br />however. Btxrswer shall not be required to discharge any such hen so long as Bofrouer: (a) shall agree in writing to the payment of the
<br />tabligation secured by such tv*, Ito ' the manner acceptable to ;,ender; (b) shall in good Paella, .ontest such lien by, or defend against enforcement of
<br />milt Fiat in. Igal procatdiigjl °*1*h in the opinion of Linder operate to prevent the r .Ae..rc meet of the liefl or forftiture of the Preperty or any
<br />Mn thweof; or (ey shah Si", t from the holder of such lien an agretr: =t, in a 4 c (r .sa(istactory to ixnder subordinatins — "IM i'il to this .
<br />"kY itts(rvstrteslt.
<br />It IA%Aw dttetesirrpt,- ilNtr►il:4l1 err any -part rat the 1:!tbo *!;zy is subiei:t to 5 aYati: �b>i�it; 3twy attain a priority nw iti- -iaq Securityr lnanani"u.. • '
<br />.,
<br />1. vender shaft give burro+ ;,# such lielt.:Borrower %hall sati,;t,y lri ff) it tape One or mote :' ;r > +r i'sx;_tctions set forth abose
<br />.""hio text days of the givitt, ,r 4e,fwJ1k'_
<br />L r.
<br />1.rrif" Covenant 14 of the ` iecurity Instrument is amended to read as follows:
<br />14. Sod". I s:ept for any nonce tequired under applicable law robe given in another manner. (al arty noli,:: to Ito! rower provided for to they
<br />Somity tnoTumcnt shall hegiven by delivering it or by matting it by first class mail to Borrower at the Ntopeny Addtess tar its st;i h whet 41Res.
<br />as flforrowtr trots tlesagnate by tuAtit to I- Cadet as provided hcrem, end 16) anv ocxtce tol.ender shall be giten by Baal date wait ti, I endri'ti
<br />ttddrecs &!alai ficretn or t7 tut,h othet address err 1 cinder may drergnate t.y rottce to EkNrower e4 t'roL tdrd hetr,tt :�r,g r�rn, e t r. <<,tr,t t. i u: this
<br />5ecetjig in- ,'!umeni shall tic citenlc3 to have heen giveta 1.) &ftoilvt•t e? I ctidvt whre glLctt its the hilt- -t,.lr dmagilated hrr -tat
<br />F
<br />J
<br />
|