200511880 - Laserfiche WebLink

Browse

200511880 ADJUSTABLE RATE RIDER ADDENDUM (Libor Index w Rate Caps) This Adjustable Rate Rider Addendum is made this 1st day of December 2005 and is incorporated into and shall be deemed to amend and supplement the Promissory Note (the "Note") and Mortgage, Deed of Trust or Security Deed (the "Security Instrument") and Adjustable Rate Rider (the "Rider") of the same date given by the undersigned (the "Borrower") to secure repayment of Borrower's Note to New Century Mortgage Corporation (the "Lender"). Property securing repayment of the Note is described in the Security Instrument and located at: 1408 SOUTH EDDY STREET, GRAND ISLAND, NE 68801 (property Address) To the extent that the proviSIOns of this Adjustable Rate Rider Addendum are inconsistent with the provisions of the Note and/or Security Instrument and/or Rider, the provisions of this Addendum shall prevail over and supersede any such inconsistent provisions of the Note and/or Security Instrument and/or Rider" In addition to the covenants and agreements made in the Note, Security Instrument, and Rider, Borrower and Lender further covenant and agree as follows: 4. (D) LIMITS ON INTEREST RATE CHANGES The interest rate I am required to pay at the first change date will not be greater than 7.000 % or less than 5.500 %. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than One And Onewhalf percentage point(s) ( 1.500%) from the rate of interest I have been paying for the preceding 6 months. My interest rate will never be greater than 12.500 % or less than 5.500 %. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained m this Adjustable Rate Rider Addendum. J c5c (Q7 0, "~1 JOSE I RUIZ-TAPIA ~ . (t?~/~ I ..... \3 -e", h.r:.3....b e BERNABE RTJIZ ~UI~ - NCMC Adjustable Rate Rider Addendum RE-102 (082296) 1004978322 Page 1 of 1