200505117 - Laserfiche WebLink

Browse

200505117 ADDENDUM TO ADJUSTABLE RATE RIDER MIN:100112065697086847 LOAN NO.: 40315265 MFRS Phone: 1- 888 -679 -6377 This addendurn is made JUNE 03, 2005 and is incorporated into and deemed to amend and supplement the Adjustable Rate Rider of the same date. The property covered by this addendum is described in the Security Instrument and located at: 403 EAST 19TH STREET, GRAND ISLAND, NE 68801 AMENDED PROVISIONS In addition to the provisions and agreements made in the Security Instrument, 1 /we further covenant and agree as follows: ALAUSTABLE INTEREST RATE AND MONTHLY PAYMENT CHANGES Limits on Interest Rate Changes The interest rate I am required to pay at the first Change Date will not be greater than 9.950 % or less than 6.950 %. Thereafter, my adjustable interest rate will never be increased or decreased on any single Change Date by more than ONE AND 000 /1000THS percentage point(s) ( 1.000 %) from the rate of interest I have been paying for the preceding six (6) months. My interest rate will never be greater than 12.950 %. My interest rate will never be less than 6.950 %, TRANSFER OF THE PROPERTY OR A BENEFICIAL. INI E.RES'I IN BORROWER Uniform Covenant 1.8 of the Security Instrument is amended to read as follows: Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. II' all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. 1707 -IidQR Addendun, to Rider Page 1 of 2 LENDER SIJPP(1RT SYSTEM`:, IN(,. A()RA1202.AUR ((161[14)