88106717 - Laserfiche WebLink

Browse

ADJUSTABLE RATE RIDER (I VearTJ'Cllu'l'lnd...RolOClpt) THIS ADJUSTABLE RIITB RIDER I. lIllIdClhl. ~dlyof December ,Ig-IDL-, and is Incorponled Into and shall be deemed to amend and lupplement the Morr.aac. Deed of TNlt, or Socurity Deed (the uSecurity Instrument") of the ume date aJven by the undmlaned (the "Borrower") 10 secure Borrower'. AdjUltablo Rate Nott (the UNote't) to H2!4I FEDERAL SAVINGS & LOAN AB8OCIATlON OF GRAND [SLAtlD, NEBRASKA (the "LeDW") of the IIIIIll dote and coverlni the propc:ny described in the Security InstrumentlDd 1000tee! It: 88- 106717 416 North Carey, Grand Islartd, Nebraska (property Addreu) 'J"bb Dota co.ram. pnnidoa dowIq for dIupI .. IDJ llilerelt rail ud IIIJ lactaW, paJllleall.- Tbb Date Iho Umlll tile llIDaul IIIJ' lateral rale CaD chap at .D, Oat dale ud alia lite mbalaIaa aad die muIJDom rate I mlllt paJ. ADDmONAL COVENANJ'S. In addition to the covenants and qreements made in the Security Il1Itrup1ent, Borrower and. Lender further covenanl and agree as foUows: A, INTEIWir RAn; AND MONTHLY PAYMENT CHANGFS The Note provides for an initial interest rate of 11 .. 0 DJ'o. Section 4 of the Note provides for r:hanaeIln the intaal rate and the monthly payments. as follows: 4. INTEREST RATE AND MONTHLY PA YMENT CHANGES (0\) CIIup Do", 1beintercst rate I wilJ pay may chana:e on thermt day of January 119~.lDdonthatd&yevery twelve months thereafter. Each date on which my intcrc:st rate could chBIlle is called B "Cbanae Date." (81 11Ie.adn BesinniRl with the first Chanae Date. my interest rate will be based on anlndcx.. The "Index" is the weekly averqe yield OD. United. States Treasury securities adjusted 10 . constant maturity of 1 year, as made available by the Federal Reserve Board. The most recent Index r1JU,fe available as of the dale 04$ daYI beforceach Change Date 1:; called the UCurrent Index. ,. If the Index is no lonaer available, the Note Holder will choose a new index which is based upon comparable information. The Note Holder will give me notice of thll choice. (0 CaIadodoa Dr ~ Before each Chanae Date, the Note Holder will calculate my new interest rate by adding thrF!e & onelha1f perccntqe points' 't c. ~) to theCUJ'Il:Ot Index and rounding to the nearest I/lth of 1011, subject to the limits ltaUdiD Scction4(D) below. This rounded amount will be my new interest rate until the next Change Dat,=,. The Note Holder win then dct.crm.inc the amount of the monthly payment that would be sufficient to repay in full the priDc::ipall am ~ to owe on that Chanae Date in substantially equal payments by the matwity date at my new interest rate. 1be rault af this cala1latiOD ~1I be the nl:W llDlount of my monthly payment. (D) LIosI.....__aao.oe. The intcrcs1 rate I am. required to pay at the nrst Change Date will not be areau:r than 13 .. 0 .. or less than. on..,.. Thereafter, my inte:rest rate win never be increased or dec:reascd on any sin&Ic CIwJae Dale by more than two Dereent ( 2 . 0 ) from the rate of interest I have been payina: for theprccc:ding twelve months. 'IbemiDimum interatrate on tbia loan will DC'VCf be less than 9 ~ 0 I'll and the maximum interest rate7iil1 ncvcrbe grcaterthan 16,,00 ... IE) EIf_Dal..f~ My new interest rate will become effective on each Cha.nat Date. I will pay the amoum: of my new monthly pa)'JDCDI bealaniDI OD the ftnt monthly Plyment date after the Change Dateuntil the amount ormy monthly payment ~ apin. (FI Notlao of aw.... The Note Holder will mail or deliver to mc a notice before each CIwt&c Date. The notice will advise meal: (i) the new interest rate on my loan as of the Cha.nae Date; (n) the amount of my monthly payment foUowiq the C1wIae Due; (iii) any additional matters which the Note Holder is required to dilcJ.ase; IIDd (tv) the addreu of 1heassoc:iation you could contact reaardina anyqucltioDl about the adjUIbD.CDt notice. B. CIIAIIGES; UENS Uniform Covenant.. orlbe Security Imtrument is amended to read u foUows: ... Owpo; u... Bonower IhaIl pay III...... anemoems. and ather charses. fmes, IDd lmpoaidons Illributable to the Propc:ny wbleb IDly aaaio s priority OVOl'thio Security Im1rument, and leasehold pa)'lll<SlU of lfDund renu, if lDy.in thellllDllerproyided uader ~ 2 bereof or. if oat paid m socb 1IlIDlIer. by Bonower moklna payment, ",hen due, dlm:t1y to the payee lbereaf. Botrawu IhaIl..-dY _ Lender III notioes of amaunu due tmder tbIt ~. and in the...." Bonower IhaIl make paymeat dlm:t1y, Bonower IhaIl prampdy _ '0 Lender ra:eipIo Ndeacios sucb paymenu. Bonower IhaIl prDDlptly diJcbarJe ID)/ liea "'hleb Iw priority 0V0l' tbIt Security '0S1Jumeat; -, IIamnrer ,ball DOl be req_ to diJcbarJe ID)/ sucb lien sa 10lIl U IIoJTawer: (I) IhaIl .....in wrltlnIto the poymeat of the ob1iptiaa_ by sucb lien m thellllDller aa:eptableto Leader; (b) lhaIlin aaad flith "",o_..eb lien by. or defend apioot cafon:emen. of sacb biD, 1epI proc:eedln&J ",hleb in theopinioo of Lender operate to ptOVeOl the cafon:emenl of the lien or foridlure of the Property 0' ID)/ put tbcreor; or (e) IhaU RICW"e from the bolder of web lien an qrecmcnt in a form satisf'1dory to l..ender IUbordiDatina JUCh lien to this Secmity Im1rument, H Leader deIermlnes Ihot III or OIly pan of the Propeny Is subjecl to a lien wbleb DUlY al10in a priority 0V0l' tbIt Security Instnuneat, l.aIder sbaD.1i~ EIomrwa' . notice idc:otifyins such lien. Bomnrer sIW1 satisfy such lien or take one or more of the ac:tiODJ ICI: forth above 'OriIhln ...dayoof1l1eli.... oftheDOtice. c. NanCE: Uni!ormCovClWlt .4 oftbcScc:urity Instrumeat is amcuded to read.. foUOWJ: ,.. Nedce. E.&ccpt for any DOIia: required UDder applicable law to be Jiven in another manner. (a) any notice 10 Borrower provided for in this Seaaity I.nJtrumcDt shal1 be liven by ddiwrinait or by mailinail by rlB1 c:lus mail to Borrcnrrer at the Propcny Addreu or at IUch other address u Bon-o.a- may dcsipaEc by noliClC to Lcuder u provided br:rdn, and (b) any notice LO Lender shall be liven by first clu5 mail to Lender's addrcu I1aICd berdn or to IUCb ather acSdnsI u Lender mi.)' deIianUe by notice to Borrower.. provided herein. Any notice provided for In this -I)' _1LaII be doomed '0 have boon Ii... to IIonowt:r or Lender wbeali...in the manner desIoMtod h......