85002563 - Laserfiche WebLink

Browse

ADJUSTABLE RATE RIDER 85-- 002563 (1 Year Treasury Index -Rate Caps) THIS ADJUSTABLE RATE RIDER is made this p4 t h day of Ile V '1985-- and is inoorpomted into and shall be doomed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the same dote Rivets by the undersigned (the "Borrower ") to secure Borrower's Adjustable Rau Note (the "Note ") to HOME rU n ""M + LOAM AltttAFJltr1[jfj OF GRAND ISLAND NEBRASKA (the "Lender ") of the same date and covering the property described in the Security Itrtrument and located at. 2729 Brentwood Boulevard Grand Island NE 68801 (Property Address) TW soft Cent" provisions slowing for Cho"" Is my interest met and my WNW"* yoymaels. TNs note ace No" the amoWWt my Interest rate can change at any ate time Sold alto the atttltshW"W and on ttmtdmmtt rate I Wart pay. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender furtier eovenm and apse as follows: A. INTZREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of 9-75 �, Section 4 of the Note provides for changes in the interest tans and the moldy payments, "follows; 4. JNTEREST RATE AND MONTHL Y PAYMENT CHANGES (A) CLWge Dews The interest rate I will pay may change on the first day of — _s).imp 19 RF; _ , and on that day every tt.assl Ye months Thereafter. Each date on which my interest rate could change is called a "Change Date." (11111 7110 I d= Begismin 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 securitt adjusted to a constant maturity of I year, as made available by the Federal Reserve Board. The most recent Index figure avedabe as of the date 45 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 win give me notice of this choice. (a cak l.tti.. of Queen Before each Change Date, the Noe Holder will calculate my new interest rate by adding One R Seven e i ghtS percentage patents ( —I• $75 %) to the Current Index and rounding to the nearest I /gth 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 None 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 fate 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) L`Ns M IIWI - Rene Clmo n The inmost tote I am required to pay at the first Cheap Date will not be greater than 11.75_ ere or less than Sit. Thereafter, my interest rate will [fever be increased or decreased on any single Change Date by more than term pPx cent from the rate of interest 1 have been paying for the preceding twelve months. The minimum interest rate on this loan will never be sex than 8 _ 7 5__ % and the maximum interest rate will never be greater than (9) FJleed" DNe of Ciaegw My new interest rate will become effective on each Change Date, I will pay the amount of my new monthly payment beginning on the first morldsly, payment slate after the Change Date until the amount of my monthly payment changes again. (" No" of Chaps The Now Holder win mail or deliver to me a notice before each Change fate. The notice will advise me of: (i) the new (merest rate on my loam as of the Chine Date; (ii) eb10 amouo of my monthly payment following the Change late; (III) any additional motors which the Noe Holder is required to disclose; and (iv) the address of the association you could contact regarding any questions about the adjustment notice. I0. ; LIENS Uniform Covenant 4 of the Security Instrument is amended to read as follows: 4. ChOWN IJas, Borrower shall pay all taxes, ts, and other Sharps, fines, and impositions attributable to the Property which may assain a priority over this Security Instrument, and lasehold payments of ground rents, if any, in the manner provided under paragraph 2 herrof or, if nl paid M sock momerr, by Borrower nuking payment, when due, directly to the payee thereof. Borrower shall promptly furnish ).ender all sudges of amounts due under this paragraph, and In the event Borrower shall nuke payment directly, grower shall promptly furnish to Lender reason evidencing; ow-h payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument; how", gormweir shW rrot be required to discharge any such lien so long as Borrower: (a) shall agree in writing to the payment of the by am* hall in the manner acceptable to Lender; (b) shall in gourd faith contest such hen by, or defend against enforcement of uoh hen te, dal proceedings which in the Opinion of Lastler operate to prevent the enforcement of tRe lien or forfeiture of the Property in any pat ; or (c) sW pure from the holder of such lien an agreement in a form satisfactory to tender subardmating such lien to this If Lender dirligmenes that all of any part of the Property is subject to a lien which may attain a priority over this Security Instrumem, Lender shell give Borr a notice Identifying such lien, tiotrower shall satisfy such lien or take tore or more of the actions set forth above withan to days of tie giving of the notice. C. (Awforen C.evolunt 14 of the Security Instrument is smended to read as follows: N. !teeing. Factrild for any noses to4uirad under applicable law In he given in another Inanttcr, (a) any notice to liotrowei provided for ui tit, ay fivotumals be given by delivering it or by mailing it by first close mail to flottowet at the Protetty Address of at etch ,t her addre%N as fklff~ May tt by rutfre to Lein" as p tovnded heohn, and (Ill any notice to 1 Culler %hall be atven by litat dA %% tttait too 1 ended'+ additess &WW hotem of to 1wh other address *4 Lender may designate by notice nn flottruwnt as pt"vtded herein. Any n"ttor tot lded Ids ut thus hieciatity Imtturratfnt shad he deemed to have been given to 1 #rrrowet nr Lender when given art the tnannco de%tanated hermit 0