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8S.-M <br />ADJUSTABLE RATE RIDER <br />THIS ADJUSTABLE RATE RIDER is made this — day of DeL ttber -, 19-=—, and <br />and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt (the -Se <br />of the mme date given by the undersigned (the "Borrower") to secure Borrower's Adjustable Rate Note to <br />Gatewav Bank and Trust CMVMV <br />(the "Lender") of the same date (the "Note") and covering the property described in the Seturity Instrument and <br />#304; 109 North Locust, Grand Island, Nebraska 68W1 <br />(PMWIY <br />The Not* contains provisions allowing for changes In the Interest rate every yew. ff. the Irtlerest rate ht- <br />the Borrower's monthly payments will be. higher. If the Intsfest rate dedreases, the BorrowWs <br />morithly <br />payments will be lower. <br />ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender <br />further covenant and agree as follows: <br />A. INTEREST RATE AND MONTHLY PAYMENT CHANGES <br />The Note provides for an initial interest rate of 12_75 079. Section 4 of the Note provides for changes in the interest rate and <br />the monthly payments, as follows: <br />-4. INTEREST RATE AND MONTHLY PAYMENT CHANGES <br />(A) Change Dates <br />The interest rate I will pay may change on the first day of JanwXY 19_.90 And An that A— ----;:y 11•-1. MG=h <br />, interest rate —could change is called a "Change Date." <br />(B) The Index <br />Beginning with the first Change Date, my interest rate will be based on an Index. The "Index" is the weekly average yield <br />on United States Treasury securities adjusted to a constant maturity of I year, as made available by the Federal Reserve Board- The <br />most recent Index figure available as of the date 45 days before each Change Date is called the "Current Index." <br />If the Index is no longer available. the Note Holder will choose a new index which is based upon comparable information. <br />The Note Holder will give me notice of this choice. <br />(C) Calculation of Changes <br />Before each Change Date, the Note Holder will calculate my new interest rate by adding <br />two and cnL—half — percentage points ( 2.5 074) to the Current Index. The Note Holder will then <br />round the result of this addition to the nearest one-eighth of one percentage point (0.12507o). This rounded amount will be my new <br />interest rate until the next Change Date. <br />The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal <br />balance of my loan I am expected to owe on the Change Date in full on the maturity date at my new interest rate in substantially <br />equal payments. The result of this calculation is called the "Full Payment Amount", and it will be the new amount of my monthly <br />payment, subject to subsection (D) below. <br />(D) Limits an Interest Rate Changes. <br />The rate of interest I am required to pay shall never be increased or decreased on any single Interest Change Date by more <br />than _..5e® from the rate of interest I have been paying for the preceding twelve months. My interest rate also shall never be <br />greater than <br />(E) Effective Daft of Changes <br />My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment beginning <br />on the first monthly payment date after the Change Date until the amount of my monthly payment changes again. <br />(F) Notice of Changes <br />The Note Holder will mail or deliver to me a notice of any changes in the amount of my monthly payment before the effective <br />date of any change. The notice will include information required by law to be given me and also the title and telephone number of <br />a person who will answer any questions I may have regarding the notice." <br />_J <br />