Laserfiche WebLink
20040'7520 <br />ADJUSTABLE RATE RIDER <br />(LIBOR 6 Month Index (As Published In The Wall Street Journal) - Rate Caps) <br />LOAN NO. BC90020 <br />THIS ADJUSTABLE RATE RIDER is made this 28TH day of JULY, 2004 , <br />and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or <br />Security Deed (the "Security Instrument ") of the same date given by the undersigned (the "Borrower ") to <br />secure Borrower's Adjustable Rate Note (the "Note ") to <br />PARAGON HOME LENDING, LLC, <br />(the "Lender ") of the same date and covering the property described in the Security Instrument and located at: <br />636 EAST ASHTON STREET <br />GRAND ISLAND, NE 68801 <br />[Property Address] <br />THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE <br />INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE <br />AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE <br />TIME AND THE MAXIMUM RATE THE BORROWER MUST PAY. <br />ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security <br />Instrument, Borrower and Lender further covenant and agree as follows: <br />A. INTEREST RATE AND MONTHLY PAYMENT CHANGES <br />The Note provides for an initial interest rate of 8.250 %. The Note provides for <br />changes in the interest rate and the monthly payments, as follows: <br />4. INTEREST RATE AND MONTHLY PAYMENT CHANGES <br />(A) Change Dates <br />The interest rate I will pay may change on AUGUST 1, 2007 and on that day <br />every 6th month thereafter. Each date on which my interest rate could change is called a "Change <br />Date." <br />(B) The Index <br />Beginning with the first Change Date, my interest rate will be based on an Index. The "Index" is the <br />average of interbank offered rates for 6 month U.S. dollar- denominated deposits in the London market <br />( "LIBOR "), as published in The Wall Street Journal. The most recent Index figure available as of the first <br />business day of the month immediately preceding the month in which the Change Date occurs is called the <br />"Current Index." <br />If the Index is no longer available, the Note Holder will choose a new index that is based upon <br />comparable information. The Note Holder will give me notice of this choice. <br />Multistate Adjustable Rate Rider - LIBOR 6 Me ludez (As Published in the Wan Street Journal) - Single Family - FNMA Uniform Instrument Initials: (/ <br />FNMA3138 <br />Page 1 of 3 /—,7 <br />