84000986 - Laserfiche WebLink

Browse

R I D E R t1~ -_ I~U~JOv NOTICE: THE MOP,TGAGE SECl1RFS A NOTE WHICH CONTAINS A PROVISION ALLOWING Fr)R CHANGES IN ltlE INTEREST RATE. INCREASES IN 'f FIE INTEREST RATE WILL RESULT IN HIGHER PAYMENTS. DECREASES IN THE INl'ERES-T RATE WILL RESULT tN LOWER PAYMENTS. This Rider is made this 21st day of February 1984 and is incorporated into and shall be deemed to amend and supplement the' Mortgage of even dale and attached hereto given by the undersigned (the "Borrower") to secure Borrower's Note to The United Slates National Bank of Omaha, Nebraska (the "Lender") of the same date ;the "Note") and covering the property described' in the Mortgage and located at 619 E. Memorial_ Drive, Grand Island, Nebraska Lot Nine (9) in Block Two (21 in "Meves First ArlAiYinn tote .i_v n ,ran roperty Address Modifications. In addition to the covenants and agreements made in the Mortgage, Borrower and Lender further covenant and agree as follows: A. INTEREST PATE AND MONTHLY PAYMENT CHANGES The Note has an "Initial Interest Rate" of 11.75 0. The Note interest rate may be increased or decreased on each Change Date, as described in the Note. Changes in the interest rate are governed by changes in an "Index." The Index is the weekly average yield of One Vear United States Treasury Securities a juste o a cons an maturity of One Year. __ determined in the second calendar month preceding each Change Uate. Such changes u, interest rate will occur on The First of February Commencing February 1, 1986. _ ___ Increases and decreases in the interest rate are limited to a change of 2 o each Change Uate. li the interest rate changes, the amount of Borrower's monthly payments will change as provieled in the Note. Increases in theinter- est rate will result in higher payments. Decreases in the interest rate will result in lower payments. B. LOAN CHARGES It could be U-rat the Iran secured by the Mortgage is subject to a law which sets maximum loan charges and that law is interpreted so that the interest er other loan charges collected or to be collected in connection with the loan would exceed permitted limits. In this event, then: (a) any such Ivan charge shall be reduced by [he amount necessary to reduce [he charge to permitted limit; and (b) any sums already collected iron', Borrower which exceeded permitted limits wilt be refunded to Borrower. tender may choosy to make this refund by reducing the principal owed under tiie Note or by rnakiny a direct payment Co Borrower. C. TRANSFER OF THE PROPER 1 Y If there is any transfer cl tLe F~roperiy, nrciuding a transfer described in Paragraph 11 of the Mortgage, under Wray reciuire either an increase in the current Nate ~nte~es[ rate, ,,n ;ncrease u, the Base Index figure, nr' a change of any <>t thr• Irian torn,, ,~~, a condition of Lender waiving, the option to accelenrt~~ hruvicied in Paragraph 17. By Signing thrs, 13,~rruwer agrees to ,~i! ut tfre ~ibove. ~i a ttr7~"n~C~~-~+-e ~ Borrowe+'