|
s» ! y� `°---
<br /> �s�'i 7t � � _.
<br /> .._ . �� ��. ,.. '
<br /> - _� _ ._.__.._—
<br /> _j' . _ _ __ _ . - _
<br /> ...�.� _�_�
<br /> ADJUSTABLE YtATE RIDEA
<br /> (1 YMrT�,��,�.��.a., g4-/Ol��y--.
<br /> - ' 'Mif ADIUSTIR/L8�/►TA�iPBR M s�d�tAi� 1?TH d,r o� FEBRUARY ,��94 -- `
<br /> Md i�400r0a�Nd into�d�11 M d�wn�d to�o�ad�ad wppl�nt the Moctpte�DMd of Trwt.ot 9�cudtr�tthe"S�tudty I�utruauat")or
<br /> � IM�dM�{iwu bp tM wd��d(th�"Dorcow�t")to t�ciw llorcowa'�Adlustabk Ws Note(tl►�"Note")to
<br /> -- �Q ItM"L.wdir,9 ot tbe uew d�t��od cov�Ly tbs prapwtr dircriMd in tM�3Kwkr I�utrw�wt�d laand M:
<br /> _ --- � 420 S. GRANT� GRAND ISLANDr NEBRASKA 6880'�
<br /> ? (Propaty Addreu)
<br /> 7'ik wolt co�Idr �o�Woa� Wowi�{ for eM�1� wy i�Mnd ntt�a1 Ny�IYb
<br /> � My�u.'f�tr N1��Mo N�iu tiK�wo��t�y irten�t rsq cw er�t�t��y o�tlw��
<br /> — �ia tM��ui Ib�n alt 1�wt MY•
<br /> - -:-2,.,_�_z_
<br /> ADDITIONAL COVENANTS.In additia►to the ooveaanu and aareaaenu made ip the Seciu(ty Iwtrum�nt,HoROwa and lwoda
<br /> -- futthtt oovsn�at u�d a{toe iu folbwr.
<br /> A. INTFJtFST RATE AND MOIY1'H4Y�AYMF.�IT CHANGFB
<br /> • �� ���� The Note providn fo��n initial lnterat nte of 6•d 4b.Secdon 4 of the Note provldes for ch�in the iataat rate aad the
<br /> ... monthlY WY+�u,u foQowa:
<br />' •.r.:.�,- r
<br /> �''`A0i''""°""`" `"r'� 1, lNTBREST RATE AND MONTHLY PA YMBNT CNANQES i
<br /> oWt..%�.f• �:Y:'' D�tts
<br /> - _. . ,.
<br /> The interat rate 1 will Wty may chan4e on t e �n sy o � -"�'^"`-•`'-°•°'^' -
<br /> 'ti� . �. �.� . �„Z months thereafter.Each date on whkh my interat rate could ch�e is calted�"Chante Date."
<br /> (!) rie LOe:
<br /> ,, , , , . . &�innin�with tix Gnt Clun�e Date,my interat rate wiU be basod on an ind�x.The"Index"b the wakly averaYe yfeW on Unitod Stata
<br />, 7'reasury�ecuriNa adJusted to a constant maturity of 1 yeu,as mule av�llable by thc Fedaal Raerve Boud.The mat raxnt lndex fljure —
<br /> avd46k a+of the date 4S daya Ixfore each Ch�nQe Date is called the"Current index."
<br /> . If the Index Is no loneer avall�ble,the Note Holder w1U choose a new index which is baxd upon comparabk lnformadoa.The Note
<br /> • . ' Hulder wIQ�ive me noUce of thi:choice.
<br /> a��-.�..�::�-- -- - (Cl Cakwl�Ho�otCi��w
<br /> &forc each Chan;e I�te.the Note Holder wl�l calcutate my new interest rate by addin����EE Ai�D ONE-iiALF p�rcenta�e
<br /> poinu(. �•5 �Fi)to the Cunent Index and roundina to the nearat 1/8th of 1�4.subJcet co the limtts uated in Socdon 4(D)below.
<br /> This rounded�unount will be my new interest rate unNl the next ChanQe Date. —
<br /> The Note Holdcr wiil then determine the amount of the monthly payment that woutd be sutftcient to rep�y!n fuil the principal 1 am
<br /> expected to owe on that ChAn�e Date in substantially equal payments by the maturity date�t my new interat rtte.The rault ot th4 cakul�don
<br /> wilt be the new amount of my�nonthly payment.
<br /> (D) IJiri4o�t�tenytWkCM�eQa
<br /> The interat rate I am required to pay at the flrst Change Date wflt not be greater thAn a-0 �i or laa than _,_
<br /> ���• ����hi.Thereafter,my interest rAte wfll never be increased or decreued on any sinale ChanQe Date by morc than—ndn �_-`
<br /> :r .�^]z,�_from the rate of interest I have been paying for ihc preceding twelve months.l�he minfmum interest rate on this loan wlll never be �
<br /> +.F las th�n 4� �and the maximum interat rate wlp never be�reater than ��.p 7�. —
<br /> tE) Ettecqve D�te ot CMaqa �-
<br /> My new interest rate will become effective on each Chanpe Date.1 will pay the amount of my new monthty payment beQinnin�on the tirst
<br /> � monthly payment dAte after the Chanye Date until the amount of my monthly payment chan�a apain. �'
<br /> (Fl Notice ot Chan�a —_
<br /> Thc Note Holder will mail or dcliver to me a noHce beforc each Chanpe Dare.Thc notkc will odvise me of: �:�
<br /> (i) the new interest rate on my loan as of the Change Date; '__
<br /> (ii) the amount of my monthly payment fopowin�the Change Date; 4
<br /> r
<br /> (iii) any additional matters which the Note Holder Is required to disclose;and :_ _
<br /> (Iv) the addras of the assocfation yuu could contact reQardin�any questbns obout the adjustment notice. ° _
<br /> 'r_:--
<br /> �"_
<br /> B. CHARGE3;LIENS
<br /> ;_.
<br /> ., Uniform Covenant 4 of the Securlty Instrument is amended to re�d as follows:
<br /> �� 1. CYusa;Ue�u.Borrower sh�ll pay alt taxes,assessmcnts,�nd other charga,fines,and impasitions attributnble to the Propeny which mny
<br /> � �i ntain t priority over this Security Instrument,nnd teasehold payments of ground rents,if�ny,in the manner provided undcr paraaraph 2 hereof E
<br /> ' �x.if not pald in such manner,by Borrower making payment,when due,dircctly to the payee thereof. Borrower shall promptly furnish Lender f
<br /> °y' all notices of�mounts due under this paragcaph,and in the event Borrower shall moke p�yrnent directly, Borrower shnll promptly furnish to k
<br /> . Lender recelpts evidenciny such payments. Borrower shall promptly discharge any lien which has prfority over this Security Instrument; �
<br /> • • however, Bonower shall not be required to discharge any such Ifcn so IonQ as Borrower: (a)shall agrec in writing to the payment of the ,
<br /> • ` obliQation sceured by sueh litn in the manner aceeptoble to Lender;tb)shali in good faith contest such lien by,or defend agwinst enforcement of
<br /> , , such lien in,IeYal prceadings which in the opinion o!Lender operate to prevent the enforcement of the litn or forfefture of thr Property or any •
<br /> ' pirt thereof;or(c>shotl secure from the holder of such lien an aQreemenc in a form satisfactory to Lender subordinatina such lien to this
<br /> ' tr Security Instrument.
<br /> a.: �,_ If Lende�determines that all or any p�rt of the Property is wbject to n lien which may attain �priority over this Securiry Instrument,
<br /> '- � Lender shaU Qive Borrower a notice identirying such Iien. Borrower ShaU satisly wch tien or tAke one or more of the actions set forth above
<br /> R j wlthfn ten days of the�ivin�of tNe notice.
<br /> '' � � C. NOTICE
<br /> �• Uniform Covenant I4 of the Security instrument is omended tu rrad xs(ollows:
<br /> � 14. Nottce.Exccpt for�ny notia rcquired under applicablc law to be gi��en in�nother manncr,!a►�ny nutia to BorroNa pro�ided for in thn
<br /> Jecurily Instrument shal�be�iven by delicerfn�it or by mading it by f�nt class mail to Borrower�t the Property Addre+t or�t such nther addresti
<br /> � as Borrower may dcsiynatc by� noticc�o Ccnder ac procidcd hcrcin,md tbl any notice to Lcnder tihall be�nen by tirst clasti mail tu l.endcr'�
<br /> address stated herefn or to such other address as L.ender may designate by nuti�e to HorroMer as proaided herein.Any notice pro��ded for�n thiti
<br /> ? � Sccurity Instrument shall be deemed to ht�ve been Qi�en to Norrower ar Lender when y���en m t he m�nner dt�tQooted hcrem.
<br />
|