85004413 - Laserfiche WebLink

Browse

L ADJUSTABLE RATE RIDER 85- 004413 (1 Year Treasury Index -Rate Caps) THIS AWUSTAHI.E RATE RIDER is made this 11th day of September ,19_85 and a iscorpantad Into and toll be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Dead (the "Security Iw nsamm ) of the son dale sivom by the underAgned (the "Borrower") to secure Borrower's Adjustable Rate Note (the "Note") to HOME 'UOYAL SAYIIIOi A LOAN At@g ATWN OF DRANO ISLAND. NEBRASKA (the "Lender ") of the same date and covering the property olaseribed is the Security Instrument and located at: 903 South Claussen Avenue, Grand Island, NE 68801 (Property Address) Thk waft coal" praelei aMwing for eYages M my Iataaal rate mill my smisi y paymeft. Tbb ante mh>* NoW the masuat my {cereal rate an elmisp at any one time mall Wo ow mialmam ad do mealmam rare 1 meat pay. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security instrument, Borrower and Lender I~ eoveaaa and agree as follows: A. INTE W RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of 9.5 9s. Section 4 of the Note provides for changes in the interest rate and the moathhr paymams. ns follows: 4. 1A7EREST RATE AND MONTHL Y PA YMENT CHANGES (A) Chimp Dow TM 19 iaerea roe 1 will pay may charge on the Crest day of October 86 and on that day every 1171 me mths thereafter. Each due on which my interest rate could change is called a "Change Date." !4 The Ida BogiaainS with the first Chaagc Date, my interest rate will be based on an Index, The "Index" is the weekly average yield on United States Traaury wtarities adjtrted to a coolant maturity of I year, as made available by the Federal Reserve Board. The most recent Index figure available As of the dm* 45 days before each Change Date is called the "Current Index." If the ladelt is no lottpr available, the Note Holder will choose a new index which is based upon comparable information. The Note Haider will give me notice of this choice. (C) Cakolod t of Cbm" Bafew sub Clump Due, the Note Holder will calculate my new interest rate by adding one & seven - eights percmtagc limas ( 1.875 sly) to the Current Index and rounding to the newest I /Sth of 1%. subject to the limits stated in Section 4(D) below. This tuna I aaouat will be my new interest rate until the next Change Date. The Note ll*Mw will then determine the amount of the monthly payment that would be sufficient to repay in full the principal I am apecisd to owe on that Cheap Due in substantially equal payments by the maturity date at my new interest rate. The result of this calculation will be the, new mnona of my monthly payment. (0) I:dls N falereat Rae CMttgw The iraerest rate I tea required to pay at the first Change Date will not be greater than 11.5 �Rs or less than R - 7S %. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than two (9 ) from the rate of interest I have ban paying for the preceding twelve months. The minimum interest rate on this loan will never be less than 7 S % and the maximum interest rate will never be grater than 14 • � _9i. (t) tlfaed" Dahl of Chaapa My new iatered roe will become effwuve on each Change Date. 1 will pay the amount of my new monthly payment beginning on the first monthly payarat date after tM Change Dente until the amount of my monthly payment changes again. (F) 146" of chow The Note Holder WW mil or deliver to me a notice before each Change Date. The notice will advise me of: (i) the few interest rate on my loan as of the Change Date; Id) the *motto of my monthly payment following the Change Date; (W) eery additional matters which the Now Holder is requited to disclose; and (iv) the Wines of the Association you could contact regarding any questions about the adjustment notice. B. CMAMIGRk IMUN UWWM Cowam it 4 of the Security Inartsmm is amended to read as follows: 4. Chwom li im. Borrower shall pay all tun. auosments, and other charges, fines, and impositions attributable to the Property which may Sabi SPIN Illy over Wle Satwity Instrument. and laudtold payments of ground rears, if any, in the manner provided under paragraph 2 hereof or, It not prod M such mamrar. by BaT~ making payment, when due, directly to the payee thereof. Borrower still promptly furnish Lender W ROOM of aarotmta dote wAw cite paragraph. and in the event Borrower still make payment directly. Borrower shall promptly furnish to Leader remipte evilleaft Wee paymew. sonower SW promptly discharge any lien which has priority over this Security Instrument; boom. Bhxroww rM9 mm be requkW to discharge may such him so bag as Borrower: (a) shall agree in writing to the payment of the 46NSMia eaatrra'by WAIN lie IN the aaateT aneptmbk to Lender; (b) sMR in good faith contest such lien by, or defend against enforcement of wells No M. legit pooadimp wMAlh in the opinion of Leader operate to prevent the enforcement of the lien or forfeiture of the Property or any limit tharasf; of IQ AN tacure from tM holder of such Ikrt an agreement in a form satisfactory to Lender subordinating such lien to this leerily Inform a mg. If Lander demnaiaes West all or any part of the Property is subject to a lien which may attain a priority over this Security Instrument, Lander deal give Daiwa a notice Wentifylsy each den. Borrower shall satisfy such lien of take one or more of the actions set frith above wIWM Ant days of the givlag of Wes mice. C. NOTf[S: U nHsra) Caswsmat 14 of the Ssewity inarumerd W wwnded to read as follows: IC N$Mt. 9-0 W may "Ke required under appNabk law to be given in another mane. (a) any notice to Borrower provided for in this SOM* Inaruanrtt shale be likes by de iverity it or by mNlitg it by firs) class mail tsa fterrowa at the Property Address or at such other addresv As Baerow.r may doWnoe by aotks to Lawler as provided herein, and (b) any notice to Lender shall he given by first class mail err l.cndrrlc address asWwd hernial or to sash otha address As tmider may designate by wxicc to Bortnwet Av provided herein Any nntive provided ter air this Smtwny (tarrtmnerwt slMfl far dtesnrd to eve beetw given In Borrower rr t Andes when atven rn the menisci rtevwanatevl herc,n M