|
ADJUSTA$LE PAYMENT RIDER
<br />'Alts AR7[1SIABIE PA3d~7T RIffit-is.-made this 28th day of January 19E4' ~ ~
<br />icrorporated.inro and shall be deemed ,to aoend Veit the or ~
<br />Secure D2~ .(tire "Secasity Instrument") of-the se®e.date given by the ,u,rk.,nt_
<br />seEan:e. Borrower`s Ad~usrnhl° Paymait Note .to Tower' Ft,~„riai ` (the '$otlnrer") to
<br />(the "Note") sod ~8 the. Property described in-the Secistt ~Instnment ~d 7a tad at: ~° ~
<br />The Note Gantains- Provisions Allowing For Changes In The Interest Rate'-.And The
<br />Monthly Payment And:For Increases In The Principal Amount To Be Repaid.
<br />The Note Also Provides For Calculations Of Two Separate Monthly-Payment: Amounts.
<br />One Will Be. The. Amount That IMust- Actually Pay Each.Mnnth.< The-Other Wili Be An _
<br />Amount That I Would Pay Each Month To Fully Repay--The Loan On The Maturity Date.
<br />This Means That T Could Repay More Than I Originally Borrowed Or-That. I Could
<br />Repay My Loan Before The Maturity Date.
<br />ADDTIT~AI, COVIIS4NLS. In addition to the mv®ants sad erg made in the. Seasitp
<br />Ins~'^*~^*:. Borrower ~d Lender furttri mve~snt and agree as folloFS:
<br />A. INTEREST RATE ANII MONTHLY PA`i'2~fENT CHANGES-
<br />The Note provides for an initial t„ro„rar rare of 20.SC6%. Sections 2, 3, 4, 5 and 6 of the Note,
<br />provide for domes in the interest rate and the m~n~Ly }spments, as follows:
<br />"2. INTEREST
<br />(A) Interest O:axt
<br />Interest will be charged on that part of principal which-has not been laid begirn~iag on. the
<br />date I receive lx-imti~ and mrs=.,..o until the full amacnt of P~-+*+rt~l hss been paid
<br />Begir¢dtg m the date I receive principal, I will pay interest at a yearly rate of 14:500%,
<br />The interest rate I wi.1L pay may dsange as the-first day of the month of August 1, +-
<br />and on that day every { month thet+eefter. Each date on which the interest rate s
<br />called on "Interest CEO `Date." The new interest rate will become- effective on each Interest
<br />Chace Date.
<br />(B) The Index
<br />Beginning with the first Interest Change Date, my t*+rarest rate cu7.1 be based ca as Index:
<br />..~~ ~ the '.i~ecly motion eve e :.ate ar.:.`ni.tet! States Tze<asziry bills with a ~:aturity of
<br />m,ntha as t mn8t recent -
<br />rigtn'e:~ or the Gate 4S days before each Interest Change Date Ls called the "Ctaxent Index",
<br />interest rate I will t+2y shall cwt exceed 23,490.
<br />If the Index is no 3ngger available, the Note Holier will dioose a new-index which is based upon
<br />h7a t„fnrns,rtnn, 'I{r Note Holder wilt give me entice of this deice.
<br />(C) cal,„lar;,~, ~ Interest Rate Charges
<br />Before each Interest Change Date, the Note Holder will calculate my new interest rate by adding
<br />percentage points ( X) to the Curtest It~t. The Abte Holder will then ratmd -
<br />r t of this addition to ttrz ~-zgt oue~-eigi;ih of cx~ ~ point (0.125%). This ro~mded
<br />amoral will be my clew inrurs.wr rate tMjj the next Interest Charge Date. Except tt~ u~.xicaa~ interest
<br />rat@icallter tt7efault ti.
<br />)Ttr interest taste requited by this Section 2 is the rate Z will owe both before and-after any
<br />default described in Setttioan 9(B) belaw.
<br />3. CAI:CDLATION OF AAIOTTNTS OWED EACH MONTH
<br />'Bie.Note Holder will calcuate my F137.1 Fbnthly Amount. The "Full Marrthly Amaatt" is the amoutt
<br />of the-monthly payment that.would-be su€ficieot to repay the unpaid priac{pal balance of my loan in
<br />£uli at the interest rate I am required to pay ]TY Sections 2(A) and 2(C) shave in s;,,i+orn,+rtnl ly eq~l
<br />Fay~s an ,_ ,which is called the "maturity date". My first Flip
<br />Y Amo<at y~ ore each Interest Ctmnge Date, the Note Holder w311.
<br />cate+tBsis the ~ Full blatt~iiIy`' iambua~ which Z will ore each math begi~dsg ~ the first mmthly
<br />payaeot dare after-.the Interest Cirnge Date.
<br />the Fu11 Monthly Amowt I owe may. be more or Less than the amunt I am requited to pay each
<br />manrh. Section 4 glow stag the amount of my monthly payment and how it will dung;. Section 5
<br />bales describes-haw my unpaid principal balt®ce rd31 drnge if the amount of mY monthly payment and
<br />the F1itl Monthly Amount are different,
<br />4. PAYMENTS
<br />(A} T1me-and PLaee of Fhymaits
<br />Z sd31 pap,Pt~sc#.psi -sod:: intet+ast by maldtg paymacts every motth.
<br />~,~+,;a I my mmthly Fay~re m the first nay of each mrnth begimrLng on
<br />pslx~.~ ~"-' , ~~ make arse Paymmis ev~ay ranch uttit I have paid all the
<br />~Y charae4 deaecibed below that I may owe under this Note,
<br />m~ht.9 >: sdrli be applied.: ro i before Principal. If I still are- amounts under this
<br />~4e cRt thx wry dare, I wdll pay tbnea amounts in full on that date,. Ttnee amaurts could be
<br />~a-3set Chest rha-amount of rap last y'pe)esaex befnxe the mstisity date.
<br />T s+1ll: me>vs ey mthly PaYmsata at 2I2O South 72nd Street, Omtia, Nebraska 68124 or at a
<br />P~ ~ t+~dred ~ Cha Nora Holder.
<br />,.w:•#(±T`.t.Lr z i.Y.,F:P;',1' "dT'?', t _ }"P f: s.E~,S;-21 ~ '`:5; ... ~- ... xilt
<br />~G-Oi)5 (qc) (Page 2)
<br />flaw it/83)
<br />
|