84000195 - Laserfiche WebLink

Browse

oo6os~6o-z ADJUSTABLE PAYMENT RIDER ~~'~~ 17 V ~ 19 S THIS AAIUSTABIE PAYMENT RIIFR is made this 9th day of January 1984 ai7d is incorporated into arri shall be deed to amend and suppl-emeat the rt~ge, o t; or to Seet¢e Debt (the "SeiKSity Instrume7t") of the same date-given by-the tmdessigned (the "Boaower") to sense Borrower's Adjustable Payment Note- to Tower Ft„o.,,.t=,, Ir7c. (the .'Lender'.) of 'the scone date . (the •'Note"> aiod covering-the property described in the Seci¢ity Instr~meit and located at ' L50& S. 2;ewcastle. Grand Island. ;yebraska 68fi01 (tY ~) The Note- Contains Provisions Allowing For Changes In The Interest Rate And The Monthly Payment And For Increases Zn The Principal Amount To Be.Repaid.- The Note Also Provides For Calculations Of Two Separate- Monthly Payment Amounts. One Will Be The Amount That I Must Actually Pay Each Month. The Other Wi11.Be°An Amount That I Would Pay Each Month To Fully Repay The Loan. On' The Maturity Date. This Means That I Could Repay More Than I Originally Borrowed Or`That I'Could Repay My Loan Before The Maturity Date. ACOITIONAL COUENJANLS. In additive to the eovee~at7ts and agreements made in the Seciaity Instrument, Borm7.er and Lender further mvenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANCES The Note prwidps for an initial interest rate of 10.500X, Sections 2, 3, 4, 5 and 6 of the. Note pmvlde for c2sanges in the interest rate and the ~nt~y lsyments, as follocse: "?. INTEREST (A) Interest Owed Interest zd.ll be ctaxged ve that part of principal wtnich has x7ot been- paid, beginning° on -the date I receive principal and rnnnin„r 9,nmtil the full amonmt of principal has bees paid. Beginning ve the date I ras~ive principal, I will pay interest at a yearly rate of 10.500X, The interest rate I will pay nay ~ on the first day of the month of tlengust 1 , "1"~'8'G'- and ve that day every i,tl: month thereafter. Each date on which the interest rate. s raked on "Interest Cie Date." The new interest rate will ben:ame effective oa each Interest Change Date. (B) The Imo Beginning with the first Interest Ct7snge Dates my interest rate will be based ve an Index. ~17e "Index' is the 3.tei<1y r',.uction Average Ra[e on Cnltee States Treasury bills c.2th a raturit;' -~ ixxetFs as a t .most recent e~c as o da before each c Date is called the "Curren Indec". ~ interest rate I i.ill Fay s~iall ~:ut ca;cec~?~~r.+~itJ7. If the Icdec is m longer available, the Note Holder will choose a new index which is baste upon compazable iafonaation. The Note Holder will give me entice of this ct7oice. (C) Calcxilative of Interest Rate Changes Before each Interest Change Date, :he Note Holder will calculate my new interest rate by adding 3t of t~hisaddition tos t~ t o to th ~ oCur~~ Indac. The int 0 X25%~This rau~de~ amount will be my new interest rate until the~ne~ Interest Cta~nge D3te.~ F~~1't tl~e)ma~;innn~, interest rate swill not exceed 13.990`?. ' (D) Interest After Default The interest rate requited by this Section 2 is the rate I will owe both before sod after any default described in Section 9(B) below. 3. CALCULATION OF AMOUNTS OWED EACH MONTA Tte Note Aaldzr will calcilate my blril hbnthly Arrant. The "Full rbnttnly Amonmt" is the amount of the mia7thly payment that waild be sufficiait to repay the unpaid principal balance of my loan in full at tte interest rate I am requires to pay by Sections 2{A) and 2(C) above in substantially equal payments on Fehxuarv i IS49 ni7ich is called the "maturity date". My first Full Monitdy Pmonnt s ore each Interest Cima;ge Date, the Note Holder wlll ~alrn7nro t}7e n~ pyru ~~~ I wt71 owe path month beginning on the first monthly payment date after the Interest Change Date. Tne Full Monttay Amonnt I owe may be more or less than the amount Z am required to pay each month. Section 4 below states the amount of my monthly payment a~ haw it will ctange. Section 5 below de-arr3Mz h~,r my ~P~d F~~~ ~lavee *.~ll cl~ge if the arrant of my monthly PaJ'ment and the 7a,t t Ibnthly Amami are different. 4. PAYMENTS (A) Time-and Place of Payments T?.711 PaY Pr~p~ ~ ~te~t by payments every month. I will malae mp mtotnly payments m the first day of each month begioming on Eaarc:i~ 1_, 1984 I wiL1 make these payments every month until T have paid all the any other charges described below that I may a~ under this Note. My monthly payor3nts w111 be applied to interest before principal. If I still awe amounts under this Note an the. maturity date, I will pay those amaimts in full on that date. Those amouata could be grrratsr theme the arrant of my last monthly payment before the maturity date. I will make a4S moratt77.y payments at 2720 South 72nd Street, Omaha, Nebraska 68124 or at a different place if required by the Note Holder. i+. Jl ?`l t`!.! r';~Y?-3 a •,t~T.t ;''7' {. i ..., .v 7. - i-t - ~; i t TMC-005 tqc} (Page 1) (New 11!87}