200607845 - Laserfiche WebLink

Browse

'- 200607845 MIN: 100488910097274145 ADJUST ABLE RATE RIDER ADDENDUM (Libor Index. Rate Caps) This Adjustable Rate Rider Addendum is made this 31st day of August 2006 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 Corpomtion (the "Lender"). Property securing repayment of the Note is described in the Security Instrument and located at: 278 South Kimball Sf, 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 11.800 % or less than 9.800 %. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than One And One-half percentage point(s) ( 1.500%) from the rate of interest I bave been paying for the preceding 6 months. My interest rate will never be greater than 16.800 % or less than 9.800 %. BY SIGNING BELOW, Borrower accepts and agrees to the Adjustable Rate Rider Addendum. contained in this CV-StO~. bu.!SL PEARL BURKE NCMC Adjustable Rate Rider Addendum RE-I02 (082296) 1009727414 Page I of 1