|
- _---- -- --- - -- — � - - . . -_
<br /> - --- --� . . _ .
<br /> �� .
<br /> �.� �.::. � ..,!��J �,ti ' ..: . - :�
<br /> . .:: � :
<br /> _ _ �. � �
<br /> ,..
<br /> �, r
<br /> .. ��+���!c ��.. . 1'�Y+GK•i,:,�,� ,� _ .. .
<br /> .. •. . . _....�K. .Yllj(F4/f`�'1�-�' " -.+�. - –__. —
<br /> �
<br /> .__ _ ..ra� • . ` �
<br />-- - 94� i��A3'�
<br /> -_�`�'�"-�"�! —-_
<br /> .����--- =�� �.�_..,_ —
<br /> � �• ADJIJSTAB�.E RATE RIDER
<br /> _ � (1 Ye�r T�anry Index—Rnte Cpps) 0020026981
<br /> _,:, � �
<br />-- '- - .�____ ----��-__- THiS ADJUSTABI.�RATS RIDBR is made this 11 TH day of MARCH ,19 94 ��d�
<br />. " ' _.iY`--. -iY. �—'__""._..-.._'."_' •- , _ • .
<br /> ::�.r�:..:::; incorporated into and shail be deemed to amend and supplement the MoiKgage,Deed of Trust or Seaurity Dad(the
<br />_ ... � -- _
<br /> _ ,
<br /> �, � "5ecurity Instrument")of the same date given by the undcretgned(the"Bonower")to secure Horrower's Adjusta c __ -
<br /> Rau Note(the"Nate")to The Equ1ta61e Building nnE loan Asaociation of aran0 Islend,Hebraskn, A
<br /> � � :���. Federel Sevings 8enk (the'•Lender")af the same date and covering the prop�rty described �:_
<br /> � ���-.��,�;. in the Sxudty Instrument and loc�tted at: __�_,
<br /> �i�••in f `J'.�. d1� `.
<br /> ��•a.� ��' �: 1728 IOLEWO00 �LN QRAND ISLAND, NEBRASKA 68803-8157 -- -
<br /> ���• � (Property Addreaa� —�;�;���
<br /> �' �. r . ...
<br /> ` THE NOTE CONTAINS PROVISIONS ALLOWlNG FOR CHANQES IN THE INTEREBT RATE � '"='_—
<br /> �, - � A N D T H E M O NTHLY PAYMENT.THE NOTE LIMITS THH AMOUNT TkE BORRQWER'� :�.'�°'..�.�_-
<br /> 4 � • INTEREST RATE CAN CHANaE AT ANY ONE TIME AND Tt�lE MAXIMUM RATE THE BOR• `�' �'�''..�����
<br /> �;.`' ROWER MUST PAY. �.��"=_
<br /> ���r-.,...
<br /> �. .. _ .. _ _
<br /> ;:_ . .... . .
<br /> _ ; .. ;..--
<br /> " '_`=--�--��'°`'"�—= ADDITIONAL COVENAIYTS.In addition to the cavenanis arsd agrccmeats made in the Security Instntment. �
<br /> � ' • Borrower and Lender further covenant and agree as follows: �-�;:�-___
<br /> .�.,
<br /> " A. INTEREST RA1'�AND MONTHLY PAYMEN'1'CHANG�S
<br /> ' The Note provides for an initial intere,st rate of 4.7 5 0 %.The Note provIdes for changes tn the interest rate and the , ' =_
<br /> monthly payments,as foUows: -
<br /> 4.INTEREST RATE AND MONTHLY PAYMENT CHANGFS �
<br /> ' (A)Ch�nge DAtes ,
<br /> • � �� The interest rate I wiU pay may change on the first day of APR I L ,19 95 .and on thut day • '
<br /> __' —_—_ _ every 12th month thereafter. Each date on whIch my lnterest rate coutd change is called a "Change Date." � '��
<br /> ,• (B)The Index� � � ��
<br /> " Beginning with the first Change Datr,my interest rate wttl be based on an lndex.The"Index" is the weekly .. � �'' �� �
<br /> � " average yteld on United States Treasury securittes adjusted to a constant maturity of 1 year�as made available by �^,��y;
<br /> ,: . the Federai Reserve Board.The most recent Index�gure available as of the date 4S days before each Change Date •;� '�
<br /> ��.
<br /> �`�� is aalled the"Current Index." �`�
<br /> -� "- - - If the Index 1s no longer available. the Note Hotder wttt choose a new index which is basecI upon cumpurubic � _, ' ' �"'
<br /> _....... .... . . .. ...
<br /> ., information.The Note Holder will give me notice of this choice. �� '��
<br /> (C)Catculadon of Changes �f `.
<br /> Before each Change Date,the Note Holder wiU catculate my new interes�rate by adding � • •"'` �' •
<br /> � �� � percentage points ( 2.000 %)to the Current Index. 'Che Note Holder will then round '� ���'� �
<br /> � the result of this addition to thc nearest one-cighth of one ercentage point (0.�25%).Sub ect to the limits stated �'�'=�``
<br /> p 3 .. :r,��.•,-,
<br /> In Section 4(D)below. thjs rounded amount will be my new interest rate until the next Change Date. ����,;,"•
<br /> � The Note Holder will then determIne thc amount of the monthly payment thac would be sufficient to rspay ,. .
<br /> "� � the unpaid princ[pal that I am expected to owe at the Change Date in fult on the maturity date at my new interest _ __ _ _
<br /> , � rate in substantially equal payments.'1'he result of this caiculation witl be che new amount of my mo�dl�iy�ayment. •
<br /> (D) Umite on Interest Rate Changes � � �
<br /> , The interest rate I am required to pay at the first Change Date will not be grcater than 6.7 5 0 %or less than
<br /> I 4.00 %.Thereafter,my interest rate will never be increased or decreased on any single Change Date by
<br /> more than two percentage points(2.0%)from the rate of interest I have becn paying for the preceding twelve months. My
<br /> I interest rate will never be greater than 9.7 5 0 °10•
<br /> (E)EftecUve Date ot Changes
<br /> � My new interest rate will become effectfve on each Change Date. I will pay the amount of my new monthly
<br /> , , payment beginning on the�rst monthly payment date after thc Change Date untii the amount of my monthly pay- �
<br /> ment changes again. '
<br /> ' (F) Notice of Changes �
<br /> The Note Holder will deliver or mail to me a notice of any changes in my interest rate and the amount of my � .
<br /> � monthly payment before the effective date of any change. The notice will include Information required by law to
<br /> be given m�and also the title and telephone number of a person who will answer any question 1 may have regarding
<br /> the noticc.
<br /> B. TRANSFFR OF THE PROPERTY OR A BENEFICIAL 1NTERFST IN BORROWER
<br /> ;�' Un{form Covenant 17 of the Security [nstrument is amendcd to read as follows:
<br /> _e.'._•�_' '�_°____ �t..tt.. ..C.A�D. ..e.�• 1 SMtP�(lC�
<br /> ..--�- ----_''—.. lI9�bI@�Oi ttl!['1'UPCfIy Vf i!OC(ICt�ctat aaacPcSa ttt wttv�ici.aa wa�vi wnj jio,°v. .u� . .vy...y C2:».°.j ....�.�-.. . _.
<br /> in it is sold or transferred(or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br /> - . , person)without i.ender's prior w•ritten consent. Lender may.at its option, require immediate payment in full of
<br /> ; � � ; . all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercfse is
<br /> prohibited by federat taw as of the date of this Security lnstrument. Lender also shall not exercise this option if:
<br /> '',, (a)Bonower causes to be submitted to Lender information required by Lendcr to evaluate tl�e intended transferee
<br /> � . as if a new toan were being made to the transferee: and (b) Lender reasonably determines that Lender's security
<br /> � • wlll not be isnpaired by the loan assumption and that the risk of a breach of any covenant or agreemem in this Sc�:uri-
<br /> r
<br /> ; � ty Instrument is acceptable to Lender.
<br /> To the extent permitted by applicable law, Lender mny charge a reasonnble fer as a condition to Lender's con-
<br /> } sent to the loan assumption. Lender may also require thc transferce to sign nn assumption agrcement that is accept-
<br /> � able to Lender and that obligates ti►e transferee to keep atl the promises and agreementx made in the Note and in
<br /> � � • ' this Security Insttument.Borrower will cont{nue to be obligated under the Note and this Security Instrument unless
<br /> , . Lender releases Borrower in writing.
<br /> MUIflSTATE ADJUSTABIE RATE RIDER-ARM 8•�-Smglo fum�ir-Fennie MoerFnddb M�a UMfotm Irotrum�nf Fpm�t 11 J�88
<br /> �� 82�iC60l� VMP MORT6A6E FOHMS�iJtJ�79381pp�/8001011 1781 . �
<br /> • • .. ._. . _ .. . . _ _ _ _ . __ __ _
<br />
|