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<br /> _ �..n�t.�_u��,,...,u��e.."'f� 1:,49834 BAI.�N IEIiDER HALR�3180
<br /> (CONDI7`IONAI.WGHT TO REFINANCB)
<br /> THI9 BA4I.00N RIDBR iA mndo thia 1� day of
<br /> MARCH , tg 1994 ond is
<br /> - tncorpotated inta and Rhal)be damed to Amera!and Ruppla�rxnt thc Mortgago.peed of Trust or Deed to Securo Debt(tho"Security
<br /> .,.
<br /> ° '�` Insuumcnt") of the aume date afven by the undersi�ned(tho "Banower")ta securc the Borrower's Note to _
<br /> �.� NORWEBT MqRTOAOE. INe. (the•'l.ender'•) r �
<br /> '� '� � of the samo date und covering the propeny described in tho Security Instrument and toaalod at.
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<br /> ��:������
<br /> � •�.� :�� ,:�:'',<,.;:.: 2121 W ANNA BTREET ORAND ISLAND , NE 68901
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<br /> �,,;;,:�z_,;-'..'...�:�.:� I�operty AddresaJ �----
<br /> �`''• ' ' ' ' '� The inrerest rate stated on the Note is called the"Note Rate."The dute of the IVote is called the "Note Date." t understand
<br /> � ;. � the Lender may transfer the Notc,Securlry Insuument and this Rider.'!'he I.ender or nnyone who tekes the Note.the Securtty Instrument
<br /> .; .. , as�d thts Rfde*by tranafer and who is entitled to receive paymenta under the Note!s catled the"Note Holder."
<br /> • ' ADAITIONAL COVENANT3.In addition to the covenanis and agrecment�in the Security Instrument.Horrower and L,ender
<br /> �; , further cavenant and agree as follows (despite anything to the contrury contained in the Sccuriry Instrument or the Note): �
<br /> -- ;:_ _ ----.----.. _
<br /> 1. CONDITIONAL RIGHT TO REFINANCE " - `��`
<br /> � " At the matudry date of the Note and Secur�ty Instrument(the'•Maturity Date"),I wlll be able to obtain a new loan("New
<br /> Loan••)with a new Maturity Date of APRIL iST 2024 ,2p , and with an interest rate equal w the
<br /> •'New Note Rate"determined in accordan�e with Section 3 below if all the condidons provlded in Secdons 2 artd S below are met
<br /> , . • (the'•Conditlonal Refinancing Option").If those conditions are not met, I understand that the Note Holder is under no obligatlon -��
<br /> • ' to refinance or modify the Note,or to extend the Maturity Date,and that I wlll have to repay the Plote from my own t+esourceR or
<br /> ' .. . .. find a lender willing to lend me the money to repay the Note. _—
<br /> 2. CONDITIONS TO OPTION
<br /> •� ' If I want to exercise the Conditlonal Refinancins Option at maturiry.certain conditians must be met as of the Maturtty Aate. -----
<br /> _ _____— ' Thece conditions are:/11 I must still be the owner and occupant of the property subject to the Securiry Instrument(the "Property"); _ __
<br /> • (2)I must be cunent[n my monthly payments and cunnot have been more than 30 days late on any of the 12 scheduled monthiy =
<br /> payments immediately preceding the Maturiry Date;(3)any ltens(except for taxes and special assessments not yet due and payable) —_—
<br /> � against the Properry.other than the Iten I grant I.ender in my ariginal Securiry Instrument,rnust bc subordlnated to Lender's new --.—
<br /> , first Iien to be filed by I.ender to refinance my loan at Maturity.If for any rcason L.cnder would not have a first lien upon the Property u...�
<br /> upon laan refinancing,I understand that Lender will not refinance my loan;(4)the New Nate Rate cannot be more than 5 percentage = ^_
<br /> , points above the Note ltate;and (S) I must makc a written rcqucst to the Note Holder xs provided In Section S below. �=;;,�,,,:,�;e
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<br /> . 3. CALCULATING TH�NEW NOTE RATE ����"'`
<br /> �,�_...:
<br /> The New Note Rate will bc a fixed ratc of intcrest equal to thc Fedcral Nutional Mongagc Association's required net yield for :'•,'.�;�.
<br /> 30-year fixed rate mortga�es subjat to n 60-day mundatory delivery commttment, plus one-half of one percentage point(0.5%), ,,
<br /> rounded to the nearest onc-cighth of onc percenu+�c point t0.125%) (thc "New Note Rate").The required net yteld shall bc the '
<br /> applicable net yield in eftcct on the date and time of day that the Note Holder receives notice of my election to exercise the Conditional
<br /> ' Refinancing Option.If this required net yield is not nvailuble,the Note Holder will detertnine the Ne�v Note Rate by using comparuble
<br /> information. • '.
<br /> � 4. CALCULA7'INb THE NEW PAYMENT AM1tOUNT
<br /> Provided the New Natc Rate as culculated in Scction 3 abc�ve is not greater than 5 percenta€e pc�intx above the Note Rate and '
<br /> all other conditions required in Sectinn 2 utwve ure sati�fied, thr Note H��Ider will detcrminc the amount of the monthly payment
<br /> that wiU be sufficient to repay in full (a) the unpaid principul, plur tb) accrucd but unprid interc�t. plus (c)ull other sums I will
<br /> - ---. • ow•c undcr thc �Lotc and Security (m;trumcnt c:n thr A4at�srit�� Dute tci+4uming n�y monthly E•ayment+ then are current, as required . ..
<br /> under Section 2 abovc),over the tcmi nf the New Note at thc New Note Ratc in equal mnnthly paymcntti.The result of this calculation �
<br /> will be the amoum of my new prinripal und inter�.t payment cvery munth until thc Nc«N�HC i.fully paid. �
<br /> 5. EXERCISING 1'HE CONDITIONAI.REFINANCIN4 OP'I'ION
<br /> Thc Notc Holdcr will notify nx ut Icast 60 ralendur day�in udvuncc of'thr Matm�ity I7ate:�nd ud��i+r m�of thc principal,accrucd I
<br /> � � but unpnid intcrest,und all othcr ,um,l um cxpcctrd tu��wc on thc Mamrity D:itr.The Nntr Holdcr al�o will advi�c m�thut I m�y �
<br /> � { exercise the Conditional Refinancing Optiun if lhe r�mditiun+in Scrtiun 2 atxi��c urc mct. Thc N��te HoWcr will providc rny payment �
<br /> record information,togcthcr with�h�namc,titic and addrcs�uf the per�cm repre.enting thc Nute H��W�r thut I mu,t nutify in urdcr �
<br /> i to cxcrcisc thc Conditionul RctinurKing Option. It'I►ncct thr cunJitiom uf Scrtion 2 alx�cr.I ma�cxcrci�e thc Canditional Rcfinanrin�! '
<br /> I Option by notifying thc Notc Hotdcr no latcr than 45 calcndar du�•� priur t��thc MaUUrit�Datc.Thc Nutc HoW�r N•ill calculutc thc
<br /> fixed New Notc Ratc based up�m thr Fcdrral Natiunul Munga�!c A�.�kiatiun'.applicahlc p�hli,hcd reyuired net yic1J in effert an
<br /> . � the date and time nf day n�xificatiun i�rcr�ired by thr Natc Huldcr and a.ralrulatrd in Sccli��n 1 aM���c.I will then harr 30 culendar
<br /> • I dayy W providc the Nute Holdcr uith acrcptablc pr�x�f uf m� rryuired u�cner,hip.ixrupan��anJ pruperty lirn.tatu.. Brtittc thc
<br /> , I Matu�ity Datc thc Notc Haldcr v�ill aJ�i.�mc uf thc ncw intrrc.t ratr tthr Ncw N��t� Ra�c►.nra munthly paymcnt a�nnunt und a
<br /> 1 datc. timc:►nd D1acc:�t whirh 1 rnu•t ap�xar to.ign am d�xumcnt. rryuirrd a�<<�mplecr ihr nyuircd refinnncin�:. I undcrtitand thc
<br /> . - --- . ' Natc Noldcr will rhurg� mc an uriginati�in kc��f 1.Q0'� ar SStxt, ��hirhr�rr i. Ic.,.
<br /> � BY SIGNING B�LOW. B�►�r��wcr ariept.and agrrc.tu thc trrm. :md r���rnant. rumc�in�.1 m thi� BaU�x�n Ridcr.
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