88106628 - Laserfiche WebLink

Browse

I Please re-re~BEf.9~ ~P1iiititOi~tVas~ 88- 10594 ,! rata to b~ B.7SADJUSTABLE RATE RIDER which was omi t tea (I Year Trca.ury Index-Rule Cap.) on first recording. THIS ADJUSThbLE RATE RIOE.R Is made Utb ~dlJyor November .19~. and II Incorporaled Into and shan be deemed 10 amend and supplemenl tI:e Mortgage, Deed o( Trust, or Security Deed (the "Securlly Inmumeol") of the IKrnc date Biven by the undersigned (the "Borrower") 10 secure Borrowcr'm Adjustable Rate Note (the "Nolc") 10 !:!Ql!g FEDERAL SAVINGS I LOAN ASSOCIATION OF GRAND ISLAND. NEBRASKA (the "Lender") or the .ame da" nnd covering the property described In the Security Instrument and located at: 1005 West Koenig, Grand Is land, Nebraska (Property Address) Thb Dole eonlalu provlslolU aUowial lor ChlDlet In my Intcl'Ht rate aad my monthly paymeDb. This hole also IImltJ tbe amount m,. IlItuest rate no cbaop at anyone lime and .110 the minimum and tbe mulmom rate I muat pay. ADDITIONAL COVENANTS. In llddition to the covenants oed agreements made in the Security Instrument, Borrower and Lender rurther covenant and BJl'CC as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note pr(lvldes ror an initial interest rate or A 7!i Dlo. Section 4 or the Note provides ror changes in the interest rate and the monthly payments, as follows: 4. INTEREST RA TE AND MONTHLY PA YMENT CHANGES (.4.) CUnlC Datf!l The interest rate I will pay may change on the first day or December , 19 ~. and on that day every h.,~ 1"<:> months Ihereafler. Each date on which my interesl rale could change is called a "Change Date," (B) The ludex. Beginning with the first Change Date, my interest rate will be based on an Jndex. The "Index" is the weekly average yield on United States Treasury securities adjusted to a constant malurity or I year, as made available by the Federal Reserve Board. The most recent lndex figure available as of the date 45 days before each Change Date is called the "Current Indcx... rr the Index is no longer available, the Note Holder will choose a new index which is based upon comparable infonnation. The NOLe Holder will give me notice of this choice. {C) CIIcuIldoD of Chlnln Before each Change Date, the Note Holder will calculate my new interest rate by adding thIn &: One/half percentage points ( :::' 5 010) to the Current Index and rounding to the nearest J/8th of 10;0, subject to the limits stated in Section 4(0) below, This rounded amount will be my new interest rate until the next Change Date. The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay in run the principal 1 am expected to owe on that Change Date in substantially equal payments by the maturity date at my new interest rate. The result of this calculation win be the new amount of my monthly payment. (0) Umtll OD Inttmt Ratl! ChlDles The interest rate I am required 10 pay at the first Change Date will not be greater than 10 75 Il1t €tJ6esp~~~ent 7 n 0J0. Thereafter, my interest rale will never be Increased or decreased on any single Change Dale by more than ~? n) from the rate of interesll have been paying for the preceding twelve months. The minimum interest rate on this loan wiJl never be less than 7 n 0;0 and the maximum Interest rate will never be greater than 1 3.75 lifo, (E) Effective Dlite of Chaales My new inleresl rale will become effective on each Change Date. 1 will pay the amount or my new monthly payment beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again. (F) Notice of Cbanaes The Note Holder will mail or deliver to me a notice before each Change Date. The notice will advise me of: (i) the new interest rate on my loan as of the Change Date; (Ii) the amount of my monthly payment following the Change Date; (iii) any additional matters which the Note Holder is required to disclose; and (Iv) the address of the association you could contact regarding any questions about the adjustment notice. B, CHARGES; UENS Uniform Covenant 4 of the Security Jnstrument is amended to read as follows: ... CbalJes; Uelll. Borrower shall pay alIIBJtCS, assessments, and other chllrHcs, lines, and impositions attributable to the Property which may attain a priorily over this Securlt,.. Instrument, and leasehold payments of ground rents, if any, in the manner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due. directly to the payee thereof. Borrower shall promptly furnish Lender all notices of amounts due under this paragraph. and in the event Borrower shall make payment directly. Borrower shall promptly funtish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument; however, Borrower shall not be required 10 discharge any such lien 50 long as Borrower: (a) shall agree in writing to the payment of the obligation secured by such lien in the- manner acceptable to Lender; (b) shall in good faith contest such lien by, or defend agaJost enforcement of suchlim in,1egal proceedings which in the opinion of Lender operate to prevent the enforcement of the lien or rorfeiture of the Property or any part thereof; or (c) shall secure from the holder of such lien an agrccment in a fonn satisfactory to Lender subordinating such lien to this Security Instrument. It Lender detc:rmines lhat all or any part of the Property is subja.1 to a lien which may attain a priority over this Security Instrument, under shall Jive Borrower . notice idencifying such lien. Borrower shall satisfy such lien or take one or more of Ihe actions set forth above within ten days of the givinl of the notice. C. NOTICE UnirormCovenantl.t of the Security Instrument Is amended to read as follows: ui. Notke. Except for any notice required under applicable law to be given in another manner, (a) any notice 10 Borrower provided ror in thi" Security lrulrument shall be liven by delivering it or by mailing it by nrst clan mall to Borrower at the Property Address or al such olher Bddre.\~ III Borrower may desl"natc! by notice 10 Lender III provided herein. and (b) any nolier to Lcndc:r ,h.1l hi: shcn by nUl c1lln ml1i1lu lc:ndc:t'~ addt'CU s.Laled herdn or 10 such other addrC!ls as L.cnder may designate by notice to Borrower as prollidfil hCTt'iIl. 1\11)' IIUli..'(' provided for in Ihi~ Security InurumenlshaU be deemed to hallc been sillen 10 BorroWtt or lender when given in the mannel dnllllnled hCft"in