84000737 - Laserfiche WebLink

Browse

$~ ~)U0737 ADJUSTABLE RATE RIDER TH13iKDNSTA$LERAT$WDERisanadethis 8th day of Fnhraiir~ 19_$Ll_. sad-ia3ntarporated-intoand-shall be clamed to amend and wpplemmt the Mortgage, Deed of Trust, or Dad to Secure Debt (the "Security [nsintmmt'j`df'thesame.datcgivm by [be undasigtted(the "Bortuwet") to sauce Borrower's Adjustable Rate Note to MOMS. FEDENAL SAYINfiS f LOAN,AS$OCUTION OF OAANO ISLAND, NEBRASKA (the"[.ender")ofthe samedate(the'•Nott•) and~coverii[g.the property described in the Security Fnatrtunmt and located-at 422Q West 13th Street, Grand Island. Nebraska 68801 (Property Address) The Note aroehM provlsfoes albwieg far ehaaKar ie the ie/etesl nte. it the ielenal me inereuea, tMe Borrower's owlldY payeteea wy he higher. 1/ the inetrsl n~ deetraaea: the Ilotmwer's ®oelYtT pa>teeeb wIR he bwa. ADD1T1ONAL COVENANTS. In addirion to the covenan[ and agreements made in the Becurity lnscrummt, Borrows and Lender further covenant and ogres as follows: A. INiERLRT-1tATEAND MO.N7HLY PAYMENT CHANGES The No[e provides for an iniriil interest n[c of 1 ~ sic. Section 4 of the Note provides for changes in the interest rate and' the monthly payments, as follows: A. IN7'€REST RATEAND MONTNL Y PAYMENT CHANGES (A) CYamige llatea The-interest me I will pay may change on the = st day of _ t+p r i i , 19 ~_, and on that dap of'ttx month every 1 z months thereafter. Each date on which my imerest rate could changeis tailed a "Change-Date:" B) 7Ye IYiex ]leginning with flu; fast Change Date, my interest me will be based on as "index." The Index is the wakly average yield on United States Treasury securities adjusicd to a constan[ maturity of nne years, as made available by the Fedetil Resme Bond-. The moat recent Index figure aviltab)e as of 45 days before each Change Date is called the "L~trrmt Index." if the Index is no Langer available, the Note Holder will choose a new index which is based upon comparable information. The Note Helder will give me notitt of its choice. (C) CalceWioeofCMggs Heforercit.ChangeDate,tlreNoteHolderwillcilculatemyeewinteres[ratebyadding ti~~n and nna_half percentage points: (~ 2 . S ?k) to the C`turmt Index, attd rounding to [he nearest 3lgao. The sum will be my new interest rate. The minimum interestratr on this iwa welt be no less than 4 - S %. The madmum tatera[ me on this loan will be no more than t !i~ 7r. ThcNote Holder-will then determitu the amount of [he monthly payment that would be sufficient to repay in full the prindpil_f am expected to owcmt thoChange Date in substantially squat payments by [he maturity dale at my new interest rata. The rtsuh of this calcutatton will ttctherrew attrountof my mon[Ny payment. (D) Flfetlive flats of GYaga My:new interest rate will-betwsneeffective on each GTiange Date. I will pay the amaum of my new monthly pavment.beginaing.on thr--fast tnonthlypaymmtdateafter the C.'hange Datoumii the amount of my monthly paymen[ changes again. (E) -Nodts•of CMege The Note-Holds will--malt or deliver to me a notice beforeeach Change Date. The notice will advise me of: {i) the newimecest rate on my loses as of the Change Date: (ii) the amtsunt of my monthly Ixtytttent{otlowfng the Change Date; (iii)- arty additional matters which the Note Holder is required.to disclose: and (iv) the title and telephone number of a person who will answer any question I may have regardingthe notitt. )!G CHAtG~: LB3NIS Utu(~eiam-Cavettaht• of the Beautify lnstrutttmt is amendedto read as follows; 4. ' G1at/w; IJer:9orrower shall pay all taxes, assessments, and other charges, fi[rcs and. impositions atttibutabk [o the ProP~Y-which may attal4apriq[ity:over tltia Securityl[astrumeet, and leasehold payments of ground rents, if any, inthc manner provided ut[der paragraph2_hereof or; if not-paid'ia such manna, by Borrtrwa making payment, when due, directly to the pays thacof. llorrowa shall promptly furnish to lenditr-aq notiaa~ot.ateotmu.due under this paragraph, and in the event 1orrower shill trutke paymentd'uectly, Borrower shdl;pramptly furnitit` [o Lotirter::,tece'tpts-evldestcing: such peymeMS. Borrower shall promptlX discharge any lien which has priority over this Saucily` ltutrument: horever; Borrower shall sot be required to discharge anysuch lien so long as Harrower: (a) shalt agra in writing to the payment. of the oblegtliaa wcurcd by artch liarin a manner acaroptable to Lender; (b) shall in good faith contest such Lim by, of defend.againstsaforc4mmt of such lien io. Icgal proeeedggs which-in t)x opinion of i.enckr operate to prevent the enfarcemettt of the rim or forfdture of the Prottarty-or- .ny part thereof: or-(c) shall secure- isrotn'the holder of such-uen tit agteemet[t.ia a form satisfactory to Lender sulwrditndng-sudt lien to-[his. Smuiry lrelrtmtdtt. if Ltoder detertnincs ttittx aQ or any: part of the-Propcny is subjece to s lien which may main a priority over this. Security lnsceument, Leader shall give Bortorrcr x notice idcnt#fyingsuch 11att. Bettrtteewsr stutU satixfy srteh rim or take otrc or more of the ac~ians set forth shave within: ten days of the Deity ca the notice. -. Uniform Covman[ Ian,Ct4tSCrtuttty-l~rtinietrRisirilae[[dcd,ui-readasfWlors. 11. Naals. Faaxpt is any ®orrx regtureJ tuxkarappiit~'•Yk law to ho given in ano[laer manner, fa) any noitee to Bturower provided Car in this Secargytesvumerq shall ba aivm by aehveting# Vr by ttwltna tt,byfirst ciaffitoail xa 6orrowex akilw PropettY Addrisss ar at sudt other address u liotrvrrr may strsiarute nv nuticx w Lendes:~as nlovi~ hrraUt.<attd.fb) a4yrt9x>crt to Lender shah bz;iren ~' first class mail w- Lender's addrus ruled 6eran or dc. xuch txlttr rddresr a' Lander quy drMi~;ga{r txy ncnisexo-Borrower as provided herein, tiny nadec provided Cot in t#is tiaxuily Lrrttrumeot ahail ix deemed [a have been prerttA Itorroier ar lsndet wheng`sven.in rltcnt:curer-dcxiptaaed hareirt.