My WebLink
|
Help
|
About
|
Sign Out
Browse
200601533
LFImages
>
Deeds
>
Deeds By Year
>
2006
>
200601533
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
2/22/2006 2:13:47 PM
Creation date
2/22/2006 2:13:46 PM
Metadata
Fields
Template:
DEEDS
Inst Number
200601533
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
18
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
<br />200601533 <br /> <br />ADJUSTABLE RATE RIDER to Security Instrument <br /> <br />(LlBOR 6 Month Index - As Published in The Wall Street Journal- Rate Caps) <br /> <br />(To Be Recorded Together with Security Instrument) <br /> <br />THIS ADJUSTABLE RATE RIDER is made this 21st day of February, 2006 and incorporated into and <br />shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the "Security <br />Instrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Adjustable Rate <br />Note (the "Note") to EquiFirst Corporation (the "Lender") of the same date and covering the property described <br />in the Security Instrument and located at: <br /> <br />1404 North Custer Avenue, Grand Island, NE 68803 <br /> <br />(property address) <br /> <br />THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND <br />THE MONTHLY PAYMENT. THE NOTE LIMITS THE AMOUNT THE BORROWER'S INTEREST <br />RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM AND MINIMUM RATE THE <br />BORROWER MUST PAY. <br /> <br />ADDITIONAL COVENANTS. <br /> <br />In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further <br />covenant and agree as follows: <br /> <br />A. INTEREST RATE AND MONTHLY PAYMENT CHANGES <br /> <br />The Note provides for an initial interest rate of 7.750 %. The Note provides for changes in the interest <br />rate and the monthly payment as follows: <br /> <br />(A) Change Dates <br /> <br />The interest rate I will pay may change on March 1, 2008 and on that day every sixth month <br />thereafter. Each date on which my interest rate could change is called a "Change Date". <br /> <br />(B) The Index <br /> <br />Beginning with the first Change Date, my interest rate will be based on an Index. The <br />"Index" is the average of interbank offered rates for six-month U.S. dollar-denominated <br />deposits in the London market ("LlBOR"), as published in The Wall Street Journal. The <br />most recent Index figure available as of the first business day of the month immediately <br />preceding the month is which the Change Date occurs is the "Current Index." <br />If the Index is no longer available, the Note Holder will choose a new index that is based <br />upon comparable information. The Note Holder will give me notice of this choice. <br /> <br />(C) Calculation of Changes <br /> <br />Before each Change Date, The Note Holder will calculate my new interest rate by adding 5.020 <br />percentage points (5.020 %) to the Current Index. The Note Holder will then round the result of <br />this addition to the nearest one-eighth of one percentage point (0.125%). Subject to the limits <br />stated in Section 4(D) below, this rounded amount will be my interest rate until the next Change <br />Date. <br />The Note Holder will then determine the amount of the monthly payment that would be <br />sufficient to repay the unpaid principal that I am expected to owe at the Change Date in full on <br />the Maturity Date at my new interest rate in substantially equal payments. The result of this <br />calculation will be the new amount of my monthly payment. <br /> <br />(D) Limits on Interest Rate Changes <br /> <br />The interest rate 1 am required to pay at the first Change Date will not be greater than <br />10.750% or less than 7.750% . Thereafter, my interest rate will never be increased or <br />decreased on any single Change Date by more than one percentage point(s) (1.00%) the rate of <br />interest I have been paying for the preceding six months. My interest rate will never be <br />greater than 13.750 % or less than the initial interest rate provided for in Section 2 of this <br />Note. <br /> <br />910068 <br /> <br />EF0611 (05/02) <br /> <br />Page 1 of2 <br /> <br />
The URL can be used to link to this page
Your browser does not support the video tag.