200606069 - Laserfiche WebLink

Browse

200606069 FIXED/ADJUSTABLE RATE RlDER (LlBOR One- Year Index (As Published In The Wall Street Journal)-Rate Caps) Loan Number:9631556292 THIS FIXED/ADJLJSTAHLE RATE RIDER is made this 28th day of June 2006 and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the same date given by the undersigned ("l3orrower") to secure Borrower's Fixed/Adjustable Rate Note (the "Note") to First Indiana Bank, N.A. ("Lender") ofthe same date and covering the property described in the Security Instrument and located at: 413 E 18TH STREET Grand Island, Nebraska 68801 l Property Address J THE NOTE PROVIDES FOR A CHANGE IN BORROWER'S FIXED INTEREST RATE TO AN ADJUSTABLE INTEREST RATE. THE NOTE LIMITS THE AMOUNT BORROWER'S ADJUSTABLE INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RA TE BORROWER MUST PAY. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. ADJUSTABLE RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial fixed interest rate of 7.5400 %. The Note also provides for a change in the initial fixed rate to an adjustable interest rate, as follows: 4. ADJUSTABLE INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The initial fixed interest rate I will pay will change to an adjustable interest rate on the 2nd day of July 2011 and the adjustable interest rate I will pay may change on that day every 12th month thereafter. The date on which my initial fixed interest rate changes to an aqjustable interest rate, and each date on which my adjustable interest rate could change, is called a "Change Date." MULTISTATE FIXED/ADJUSTABLE RATE RIDER - WS.I One Year LlBOR - Single Family - Fannie Mae Uniform Instrument Revised for First Indiana Bank Form 3187 12103 .l.J. Page 1 of4 Initials;~..AOJ!1