86104831 - Laserfiche WebLink

Browse

$-- 144831 Loan I�To. 69 1 ? -i _ta...., } ADJUSTABLE RATE LOAN RIDER WITH OPTION OF CONVERSION TO FIXED INTEREST ;RATE NOTICE: THE SECURITY INSTRUMENT SECURES A NOTE WHICH CONTAINS A PROVISION ALLOWING FOR CHANGES IN THE INTEREST`RATE. IN- CREASES IN THE INTEREST RATE WILL RESULT IN HIGHER PAYIIIENTS. DECREASES IN THE INTEREST RATE WILL RESULT IN LOWER PAYI�IEN TS. This Rider is made this .. ....`2nd August $b ..__.._ day of ....__._. °--._...._, 19_.v_...; and is incorporated into and shall be deemed to amend and supplerneut- the lklortgage, Deed of 'Trust, or Dew to Secure Debt (the "Security Instrument ") of the same date given by the undersigned (the `Borrower"`} to secure Hor= *s Note to ...._...._. First Federal Savings and, Loan Association of Laneislnr a Iinited States corporation ..... °.__...._ - ----- .....- .................... _ (the "Lender") of the same date (the 'vote) and covering the property described arc the Security Inatm inert and located at ,.._.1515 Custer Grand Island, Nebraska 68 03 _ . .. _ ................... . . .. ... ... . Property Address MODIFICATIONS. In addition to the covenants and agreements made in the Security Instrument, filar- - rower and Lender further covenant and agree as follows: 1. INTEREST RATE AND MONTHLY PAYMENT CHANGE DATES The Note has an "Initial Interest Rate" of :._ _ 7._ 450 Interest rate changes map occur on the 1st day of . -._ O� tuber , 19 and on the - 1st day of ..-.- --- -_.--..- -.. - October 19_... and on the 1st day of ._... October ` " _ ........ . ......... _ , .. -... __..__... _ .. -._, 19....._._ and. on the fist day of ..- --. ---- -. Oct °bet ._ .._. , 13_.Je and on those dates of those months iii everyr year thereafter. Each date on which the rate of interest may change will be called s Rate Change Date . Changes in principal and interest payments to adjust amortization of the loan to correspond with October inter�trate changes shall be made cira the lsi day of �..._. _._�. _... _ _ _ __�_. _,. 29;:__.._ cad on that __.___" principal sand interest payment may data every .................... yearisl thereafter. Each date on which the change will be called a "Payment Change Date ". 2 INTEREST RATE CHANCES (A) The Index Beginning with the fast rate change date, my interest rate will ire based on an index:. The "Index" i;: the: lchtek one box to indicate Index) t i 7 � „Contract- Interest Rate, Purchase of Previously Occupi€d Homes, National Average for all major Types of Lenders" publ%4hed by the Federal House Ljoan Sank Hoard Monthly average yield on ii S Treasury Securities adJusted to a - onstant maturity of 1 year published by the Federal Reserve Board. The most recent Index figure available as of the date 1.5 days before each Rate Change Date and 45 days before each Payment Change Date is called the "Current Index" If the Index is no longer available, the'Note Holder will :choose a new Index which is basal upon comparable information. The Note Holder will give me notice of this change. (H) Calculation of Changes Before each Rate qWnge Date or Payment Changg 1 tw the Note Holder will calculate my new interest rate by adding .. , percentage points ( . �) to the Current Index. The results of this addition will be my new interest rate until the next Rate Change Date or Payment Change Date- . On each Payment Change Date, the Note Holder will than determine the amount of the monthly pa'yme nt that would be sufficient to repay the unpaaid ,principal balancte of my loan I arc expected to owe on the Payment Change Date in full on the maturity date at my new interest rate in substantially exlual pap- n�ata. The result of this calculation will he the amount of any new nrinri .nnd merest t "went until my next Payment Change Date. (Check box(s)) t 1) F7 If this box is checked, there will be no maximum limit on changes in the interest- rate up or down. The interest rate as calculated under Section 2 (8) will be the new interest rate. t2) X91 If this box is checked, the interest rate that I pay shall not increase• more than 2No , -,5' percentage points on any Payment Change Date. 200 :3) �t If thin box is checked. the. intent rate that I pay shall not decrease mart• than r"ntage points on any Payment: Change D ate. t -t) ' ' If this lx)x in ;_•hrckod. the intermt rate that 1 luny° shall not increat awre than pe root ge lomb-+ ern any Hate Change Bate. r-