86107403 - Laserfiche WebLink

Browse

ADJUSTABLE RATE RIDER c 1'��►4 (l Year Treasury Index-Raft CAM) 86- tistrtadethis 26th .day of December 19 136, mud to amend and supplement the Mortgage, Deed of Trust, or Security Deed (tbe "Security uoderAlned (the "Borrower ") to secure Borrower's Adjustable Rafe Note (the „Note") to HOME kTION OF GRAND ISLAND. NEBRASKA (the "Len der ") of the same date and cover* the 1510 East Stolley Park Road, Grand Island, NE 68801 (Property Address) This sae cost" thre w.. ailswiag far cb..ges In or interest oak Bad my tstimft paymaster. Tbk sole also NMW the amrast my Inkrm rate c" tiaage at Bay out dw Bad also the solmhosam and tie maaimam rare I map pay. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and ague as follows: A. RffEMT RATE AND MONTHLY PAYMENT CHANGES The Neste provides for an initial interest rate of 9 4n. Section 4 of the Note provides for changes in the interest rate and the mooft paymatts, as follows: 4. INTEREST RATE AND MON771L Y PA YSfEVT CHANGES (A) Clswr Dow 88 The interest rue I will pay may change on the first day of Ja n star v . 19 Twelve months thereafter. Each date on which my interest rate could change is called a "Change Date." , and on that day every (3) The fa bit Beginning with the fast Change Due, my interest rate will be based on an Index. The "index" is the weekly average yield on United States Tracery securities adjusted to a constant maturity of I year, as made available by the Federal Reserve Board. The most recent Index figure avaiLble as of the date 4S days before each 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) Calealamaa of Changes Beforeesch Change Date, the Note Holder will calculate my new interest rate by adding three percentage points (_ 3 %) to the Current Index and rounding to the nearest 1lgth of I %, 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 that determine the amount of the monthly payment that would be sufficient to repay in full the principal I am expected to owe to 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) I3mi1sM Ialaap Rase Cfaagm rate I am required to pay at the first Change Date will not be greater than 14 .375 % or less than wpm ORWAOMM minimum interest rate on this loan will never be less than 8 •25 sA and the maximum interest rate will never be greater than 14.375 Nor (Fa Effectin pale of CYaages 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) Notice a of Charges 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. R. CHARGES'. LH.NS Uniform Covenant 4 of the Security Instrument is amended to read as follows: 4. Chmglmt Linos. Boatower shall pay all taxes, assessments, and other charges, fines, and impositions attributable to the Property which may attain a priority over this Security instrument, and leasehold payments of ground rents, if any, in the manner provided under paragraph 2 hereof at, if not petard in such mantra, by Borrower making payment, when due, directly to the payee thereof. Borrower shall promptly furnish Lender all notion of amounts dire under this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly furnish to Lads receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument; bowever, Borrower shall no be required to discharge any such lien so tong as Borrower: (aj shall agree in writing to the payment of the oblfpdmt secured by such lien in the manner acceptable to Lender; (b) shall in good faith contest such lien by, or defend against enforcement of such lien in, legal proceedings which in the opinion of Lender operate to prevent the enforcement of the lien or forfeiture of the Property or any pant dwoof; or (e) stall some from the holder of such lien an agreement in a form satisfactory to Lender subordinating such lien to this sparity Instrument. If Leader determines that an or any pan of the Property is subject to a lien which may attain a priority over this Savrity instrument. Uttada slsW give Borrower a notice identifying such lien. Borrower shall satisfy such lien or take one or more of the actions set forth above wirhht we slays of the giving or the notice. C. NOT" Uniform Covenant 14 of the Security Instrument is amended to read as follows: I4. it Mee. Except for any notice required undo applicable law to be given in another manner, ta) any notice to Borrower provided for in this Security lattruthe!!t shall be given by dehYering it or by mohnit It by first class mail to Borrower at the Property Addressor at catch of her addrtsc w Norrorrer may deangnat by notice to tender as IrowkW herein, and (b) any notice to Londe! %hall be given hti lint class mail to t endo's addrea stand herein or to stwh other adedre'.5S u Leepief ttuaY+ksi ;toes by marine hU ikxrnwvK as pronJed Fternn Any nonce prurtJN tar rn the. Security ttatrromal shall be deemed to have been giveaa to aorrenrer or I. Coder when gtlen rn ehe manner doignated heron