87104152 - Laserfiche WebLink

Browse

ADJUSTABLE RATE RIDER 8,"' 1a4152 r (1 Year Treasury Index -Rate Caps) 87 THIS ADJUSTABLE RATE RIDER is made this 3 - day of _ Jul y ,19 , ' and is Incorporated into and shit!l be deesevl to amend and supplement the Mortgage, Decd of Trust, or Security Deed ((be "Security Instrument") of the same date givea by the undersigned (the "Borrower") to secure Borrower's Adjustable Rate Note (the "Note ") to UM u sawaua! a k TION OF GRANQ ISLAND NEBRASKA (the "Lender") of the same date and covering the property described in the Security Instrument and located at: 4604 l�ak�i dt? Dri gip. rI � ' Tat ri ^_n Idahrar�L (Property Address) Thb !tints contains pnnblom allowing far cbsers M my fnlerat rate tut my Net"iddy Payments. Thb *ale able Haft the antoant nay interest rate can ctaage at say !sere that cad robe *t t inissi nn and Nee maximum rate I rase! pray. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Leader further covenant and agree as follows: A. INTERE91f RATE AND MONTHLY PAYMENj,T �ANGES The Note provides for an initial inhered rate of tltl 4.. Section 4 of the Note provides for changes in the interest rate and the monthly payments, as follows: 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Do" The interest rate 1 will pay may change on the first day of __ August 19 68 , and on that day every twelve months thereafter. Each date on which my interest rate could change is called a "Change Date." (B) Tuindex Beginning with the first Change Date, my interest rate will be based on an Index. The "Index" is the weekly average yield on United States Treasury securities adjusted to a constant maturity of I year, as made available by the Federal Reserve Board. The most recent Index figure available as of the data 45 days before catch Change Date is called the "Current Index." If the Index is no longer available, the Note Holder will choose a new index which is based upon comparable information. The Note Holder will give me notice of this choice. (C) Calenladen of Changes Before each Cban3e Dune. the Note Holier will calculate my new interest rate by adding t uin A nna./ha l f percentage points (_ 7 _ S_ %) to the Current Index and rounding to the nearest 1 /Sth of I stn, subject to the limits stated in Section 4(D) 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 full the principal I 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 will be the new amount of my monthly payment. (D) Wells an I - I Rate Chatrgts The interest rate I am required to pay at the first Change Date will not be greater than _13.5_ °lo or less than ?-n fin. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than Qercent from the rue of interest 1 have been paying for the preceding twelve months. The minimum interest rate on this loan will never be lots than 7-n % wW the maximum interest rate will never be greater than ,-4 (E) Ethed" DNe of Cbmgp My new interest rate will become effective on each Change Date. 1 will pay the amount of 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) Nedee of Cones The Note Holder will nail 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 it, disclose; and (iv) the address of the association you could contact regarding any questions about the adjustment notice. IL CHARGES; LIENS Uniform Covenaw 4 of the Security Instrument is amended to read as follows: 4. ChNna; liens. Borrower shall pay all taxes, assessments, and other charges, foes, and impositions attributable to the Property which may attain a priority over this Security Imtnmxnt, and lawhold:payments of ground rents, if any, in the manner provided under paragraph 2 hereof or. if tAK ald in senh manner, by Borrower making ayttert, when dose, directly to the payee thereof. Borrower shall promptly furnish Lender all nodoes of amounts due under this paragraph. and in the event Borrower shall make payment directly, Borrower shall promptly furbish to Leader receipts evidencing such Payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument; fail not be required to discharge any such lien so long as Borrower: (a) shall agree in writing to the payment of the oftation secured by such Set in the manner acceptable to Lender; (b) shall in good faith contest such lien by, or defend against enforcement of aselt Ban in, legal proceedings which in the minion of Lender operate to prevent the enforcement of the lien or forfeiture of the Property or any pram ; or (e) sly secure from the holder of such lien an agreement in a form satisfactory to Lender subordinating such lien to this Security lmesowm. K Liender determines that all or may art of ale Property is subject to a lien which may attain a priority over this Security Instrument, Leader diall give Borrawtn a notice identifying such lien. Borrower shall satisfy such lien or take one or more of the actions set forth above Wislithe tea days of the living M the notice. C. NtiTIK.'1S Uniform Calvitinses 14 of the Security Insttument is amended to read as follows: W , f3+n for any notice tequtred under applicable law to be given in another manner, (a► any notice to Isorrower provided for in this be given by delivering it or by mailing it by first class mail to Borrower at the 11rttperty Address or at such othet address as Borrower may by notice to Leader as provided herein, and tb) any notice to Lender shall he given by Forst class retail to Lender's address doot! atn or to such other oftessi as 1. may de%ignste by ncAlce to Ifortower as provkfcd herein. Any notice provided tot in this Ry lastrartimt be dwWAVA to have been given in rower or I cw&T whew Riven in the manner designated herein