|
-- �a�. _ --_ _= _ -�--
<br /> _.,....�...r.._�..d.l , --_ ;.�.; ..':,�-�:.:,:;.:;::=---
<br /> r .4'.�r�r'_
<br /> - _ _ _-- _ � _ . . . . .."' ' '_a,.. -
<br /> � -94���i
<br /> FHA►1VIULTISTATE ADJUSTABLE RATE RIDER
<br /> THIS ADJUSTABI.E RATB RIUF.R is made thii 2 St d�y oF
<br /> h �g� � and ia incorponte�inCo��II be deemed to�tnend�nd wppknxnt
<br /> - _�—----- .�__—� l�Zrl�t�,d�c-Deed of'f�u�t nr Security Deed ("5ecurity Inatwmeni"1 nf �he wtne d�te �iven by the w�decti�t�od �_
<br /> ("Bomowet")w�ccure Bomawe�ti Natc("Ndc")to
<br /> COLtlKBU6 YEDSIii1L Sl1VIM(i8 B1tMK
<br /> --�_•_--�_-,�--_— (!he"Lender")af the snme date ond covering Ibc prnperty descrfbed in the Securi�y Instrument ond loc�ted at:
<br /> 214 8 OKLIINOMA 11Y8110B
<br /> aR11ND ISLIIND, KS 68801
<br /> .,-.L.; - .
<br /> .. ?;'•' (Property A+k1rcu)
<br /> ' THE NOTE CONTAINS PRUVISIONS ALLOWING FOR CHANGES 1N THE
<br /> INTERFST RATF AND TH� MUNTHLY PAYMENT. THE NOTE LIMITS THE
<br /> AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY UNE T1ME
<br /> ' ANO THE MAXIMUM RATE THE BURRUWEB MUST PAY.
<br /> �. .. -�- �_ ,, ...
<br /> - .�Y9cpl�J;�.`Y'=�k;�l6
<br /> ,,,,,:,...,..
<br /> ur,�f4°i�"L�``
<br /> i > _:t�:�.:.:.
<br /> ° i;�di.r�.��+�rd+i�6.%a -
<br />- �stpyn: .�.�.-� '''•�. _
<br /> ,;;`��� �� � �.,,..1•
<br /> •• �•� ,�. ADll1T10NAL COVENANTS. In udJition ta thc covcnuntx unJ ��rcomenta made in �he Sccurlty Inatrument,
<br /> ' '�c.�.,;:�.
<br /> � ;.w4�exr:.; SOM1wCr lu�d Lct��icr I�W ilicf COVeitGiii Giid a�,f22 Y8 to110W5:
<br /> ., � INTEREST RA7'E AND MONTHLY PAYMENT CHAN(3ES
<br /> ,• �.�: . � ._. �
<br />_:. . �. (A) ChanQe DAte
<br /> The intercst rate may chunge o��he first dny of�u I 9 1. 199 5 ,and that day of each succeeding yeAr.
<br /> �;; "Chenge Dute"means cach dute on which the interest rnte could change.
<br /> `'' � (B) The Index --
<br /> ��� Beginning with the first Changc Uute,thc interest rnte will bc buscd on an Index. "Index"means the weekly pverage `
<br /> ,r .i yfeld on United States'iYcasury Securities ad,juated ro n con�tunt maturity of one year, as made available by the Federal
<br /> ,�� � Reservc Board. "Current Indcx"meuns the most recent Index figure uvailable 30 dnys bei'ore the Chnnge Date. If the Index --_
<br /> � (as defined nbove)is no longer available,Lender will usc nc a new Index nny index presc�ibed by the Secretary. As uud in �-`
<br /> . this Rider,"Secretury" means the Secretury of Hausing and Urban Development or his or her designee. Lender will give �' :
<br /> � � . Borrower notice of the new lndex. --
<br /> ;� (C) Calculation of Interest Rate Chan�es _
<br /> '. �„�, Before each Chunge Uute,Lender wilt cnicuinte n new interest rate by udding a murgin of ---
<br /> . �
<br /> �..���.•� . .�
<br /> �Yg . T�a percentage A:�.
<br /> �-^ �.,�.1� points(2.0000 'Yo) ro the currem Index and rounJing the sum to the nenrest ane•eighth of one percentage point !�
<br /> *: W-" � (0.12596). Subject to thc limits stnted in Purugruph tU)of this Ridcr,ihix rounded amount will bc the new intercst rate until =.__
<br /> �
<br /> the next Change Date.
<br /> 5�'. }
<br /> � %� . � (D) Limits on Interest Rate Chnn�es '
<br /> �� ' The intcrest ratc will ncvcr incrcasc ar dcrrensc by more thnn one perrentage point(1.O�Xn)on any single Change Uate. �
<br /> T': The intercst rete will never be morc than fivc percentnge�ints(S.U�)higher or lowcr than the initial interest rate. ti
<br /> � s .
<br /> �. ,j (E) CAlculatiun nf Puyment Chnngc
<br /> ' � If the intercxt rute chunges on t�Changc Uute.LenJer will cu�culate the nmount of monthly payment of principnl and
<br /> �� � intercsi which would be necestiary to rcpi+y�he unpuiJ princip�l balunce in full at ihe muturity dute at the new mtercst rate
<br /> � through subsmntin�iy eyuat puyments, In muking such cnicutntion,Lender will use the unpaid principai batance whirh would
<br /> be owed on the Chungc Unte if tiure Imd Ncen no deR►ult in puyment on ti�e Nate,reduced by tl�e amow�t of any prepayments
<br /> � to principal. The recult of this calculutivn wili be the amount of the new monthly payment of principnl and interest.
<br /> � �, (F) Nofice of Changes
<br /> h � Lender will give notice to Borrower of c►ny change in the interest rute und monthly payment amount. The notice must
<br /> � be given at least 25 duys before the new monthly p:+yment amount is due, and must set fonh (i) the dntc of the notice,
<br /> �''`' ''� (ii)the Change Dnte, (iii) t8e old interest rntc.(iv) thc ncw intcrest rntc,(v) the new monthly payment amount, (vt) the
<br /> .,•• . .
<br /> i "�' Current Index and the dnte it was publisheJ, (vii)the metliod of calculuting the change in monthly payment amount, and
<br /> ' (viii)uny other inEormution which may bc reyuired by law from time to time.
<br /> aA,
<br /> °i '"� - c�at�nte�ew�.eM Fm�r.tee.■
<br /> ' ITEY{S/Z(Yt04) f/�nR�1 erf2 j►ugts! To Orda CW:t�lOG611FIJ03 O►A)i�t6TY1�t1�t -
<br /> r'-- �} � M 1 . �
<br /> • I
<br />
|