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<br />ADJUSTABLE RATE RIDER
<br />(Fixed Rate Conversion option)
<br />041220
<br />THIS ADJUSTABLE RATE RIDER is made this ..14th day of ....... Marc .... , . , , , . _ _
<br />incorporated into and shall be March
<br />deemed to amend and supplement the Mortgage, Deed of Trust, or Security 85 and t
<br />"Security Instrument,,) of the same date given by9 the undersi ned (the "Borrower ") to secure Borrower's Adjustable Rate
<br />Note to .......... Superior !tort Y Deed {the
<br />............................. 8880,. B?nc.
<br />...................
<br />• . (the "Lender ") of the same date (the "Not, ") and covcrin the
<br />described in the
<br />Security Instrument and located at:
<br />, ' . S prt�y
<br />.............................................. Swan Lane — Grand Island NE 68801
<br />.......................I...... .
<br />.............
<br />.............. ...............................
<br />IProptirty Aodessl .......................................................
<br />The Note contains provisions allowing for changes in the interest rate every yetrr, subject to the
<br />limits stated in the Note.
<br />The Note also Phut The for o rolculotiu of two separate monthly payment amounts. One will
<br />that the amount that the Borrower must actually pay each month. The other will be an amount
<br />that the �OWor woos Pay each month to fully repay the loan on the maturity date.
<br />The prinelpo! amount the Borrower must repay could be larger than the original loan amount.
<br />ADDIMMUL COVMANM In addition to the covenants and agreements made in the Security instrument, Borrower and
<br />Lender further covenant and agree as follows:
<br />A. INTEREST RATE AND MONTHLY PAYMENT CHANGES
<br />The Note a t
<br />and t id for an initial interest he monthly payments, rate o
<br />interior rate e a f ..I,O, 7.. _ . %, Sections 2 through 8 of the Note provide for changes in the
<br />as follows:
<br />L INTEREST
<br />(A) IsRere" Owed
<br />Interest will be charged on unpaid principal until the full amount of principal has been paid. i will owe interest at a
<br />Yearly rate of ........0, 7. .... gk Ike interest rate (will pay will change in accordance with Section 2(C) below on the first day of
<br />�lhang is call""•••••••••• • 19...M. and on that day every 12th month thereafter. Each date on which my interest rate
<br />could change is called an "Interest Change Date."
<br />(B) Tie letlex
<br />Beginning with the first Interest Change Date, my interest rate will be based on an Index. The "Index" is the weekly
<br />average Yield on United States Treasury securities adjusted to a constant maturity of 1 year, as made available by the Federal
<br />Reserve Board. The most recent Index figure available as of the date 45 days before each Interest Change Date is called the
<br />"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) Caleelaties of 10"Va Rate Ganges
<br />Before each Interest Change Date, the Note Holder will calculate my new interest rate b • adding
<br />points (... 5...,es) to the Current Index The Note Holder will then round the result of this addition to the nearest one-
<br />eighth of oat Percentage g 't5..... percentage
<br />ge point (Interest. Subject to the limit 3 stated in Section 2(D) below, this rounded amount will be my
<br />Mw interest rate until the meat Interest Change Date.
<br />(D) Units 00 INt~ Rate Changes
<br />The interest rate 1 am required to pay shall never be increased or decreased on any. single Interest Change Date by more
<br />than two percentage Pants (2.0%) from the interest rate I have been paying for the preceding twelve months. My interest
<br />rate also shall tarp• be gmtgr than ...1.S. �........ %.
<br />(E) IetersN Alter Dorm*
<br />The interest rate required by this Station 2 is the rate !
<br />(B) below, will owe both before and after an> d i ,-,It described in Section
<br />11
<br />3. CALCUTATTON OF AMOUNTS OWED EACH MONTH
<br />The Note Holder will calculate my Full Payment. The "Full Payment" is the amount of the month) t
<br />world be aflkiptt to repay the amount I originally borrowed, or the unpaid principal balance of, my loan as of an Interest
<br />ChanP Date, in full a the interest rate I am required to Y payment that
<br />on ..,(>`p3;�.,),•,,(.,,,,,,.,••. •• 1, g•• W Pay by Sections 2(A) or 2(C) abort in substantially equal
<br />•• ^......•••.•.•.. 20.., •.., which is called the "maturity date ". Beginning on the date of this Note, my first
<br />Fail rayttttnt will be US, payments
<br />f. r will calculate.. he until the first Interest Change Date. Before each Interest
<br />Alw Chugs Date, the Note Holder will calculate the new Full Payment which I will owe each month beginning c the first
<br />ANY PaYetptt dart after the Interest Change Dale.
<br />rM/Irrr lat0ryr CAet4gr ieJltr, ►At fr/l Psynaar / owe rata
<br />taeA A. Senlse I sfpq lks 0taarnt a/ my monrhly i *Ymfml and Aare it well change. vin 6 Q JrrlArs AOV nr ra �!
<br />M/atfpal /10/0400 will eAeage It Me anrornt of +nonrAly Myrnrnr eat the fr // l'armfirr are dip"rrrnr, y paid
<br />A*"I' la Rare Rider_.FNMA Flan SSS.._ .,,,. !, ._..5,.84
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