200700136 - Laserfiche WebLink

Browse

e e .. 200700136 .. MIN: 100488910115402827 ADJUSTABLE RATE RIDER ADDENDUM (Libor Index - Rate Caps) This Adjustable Rate Rider Addendum is made this 28th day of December 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 Corporation (the "Lender"). Property securing repayment of the Note is described in the Security Instrument and located at: 610 Sycamore Street, Cairo, NE 68824 (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 10.325 % or less than 8.325 %. 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 have been paying for the preceding 6 months. My interest rate will never be greater than 15.325 % or less than 8.325 %. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained m this Adjustable Rate Rider Addendum. Q~ &~-'AM4n mes A Schuneman NCMC Adjustable Rate Rider Addendum RE~102 (082296) 1011540282 Page I of 1