84001451 - Laserfiche WebLink

Browse

a9oaxls-1 CAP ASSUHBTION RIDER ~~ "~'~ QO14v~' THIS RTDSR is made this I6Ch day of Marcb ,I~4 and-- ii incorporated- into and shall be deeeed to amend:- aad supplement the.-Deed o€:- Trust or iiortgage (the "Security Instrument") of the same date given: by the undersigned (the "Borrower") to secure Borrower's Note to Touar Financial, Inc. same date (the "Note"} and coverin the (the "'Leudei")';of the g property deacrihed in the Security Instrument-and located at: Rt 2, &ax 47, ;rand Island, F:ebraska b$BOI (Prapertq Address) In connection with the Note and &ecurity Inaerumeat, executed. by rte. undersigned Borrower aad of even date herewith, Borrower and Lender hereby agree to the following additional provisions: The following paragraph 25 is hereby adopted; 25. Transfer of Prapertq; Assumption. Notwithstanding., the provisions; of paragraph I7 hereof, Lender shall waive its. option to accelerate under- paragraph i7 if (1) prior to such sale or transfer Borrower acetifies Lender-of' the proposed transaction and sees that Lender is .given say information it-may request is order to evaluate the person to whom the property is-being:soid ar transferred, (2) Lender determines, in its sole discretion, that assumption of the loan by the proposed purchaser or transferree will meet. standards: of creditworthiness and security which are acceptable to it, which standards shall, insofar as may be practical, be the same underwriting standards as are then applied by Lender in connection with making a new loan, (3) the person to whom the property is to be sold or cransferzed executes a written assumption agreement accepted in writing by Lender, agrees to pay an assumption fee which shalt be equal to the origination, discount and other fees, charges and processing costs then being charged by Lender on similar new loans, and agrees to an increase in any applicable maximum interest rates as provided below, and: (4) no other defaults exist under the Deed- of Trust or the- Note secured hereby. If this €oan permits canveraian to a fixed. interest rate. and payment; rhea thin rider shall only apply to a sale or transfer cansuomated prior to each conversion. Upon election of Borrower to convert to a fixed rate and/or payment, this rider shall Germinate and shall have no .:farce. and- of-feet on any sale or transfer consummated thereafter. If this- loan prctydss- for any maximum iatertest rate; either with respect to the interest rate charged or the interest rate on which new payment amounts are computed from.time to time, than sorb saximm rates will be increased one percent; coaaecutively, for each araumptioa putauaat to this paragraph 25: Asp such increase-will be effective op the first change- date following Lender's offer to approve the assumption if such transaction is thereafter consuamated. ~~~ Dated: ~'49YCh ib, i4A€r "'# ~ ~ f ~renn;ia ~i tardek a ~srrower) l .y 1j [hesnna C i;ardekopf ~ rtawer) x '.S'LA'TE 4P pg7{ggA, ria31 County, ace. The foregoing instrument was acknowledged before se this ~bCh dap of ".atc?~ ,19"-~4 x~ Bann-fs 3f; ?crdeknpi and L`~unna t_. liar{"'i?f; ~~"'arc ~3i3'__n`?_iTe ~ _ ~ ~."' t (taotarq PuOdicj 7'`tCll. (qc} ~xr .~. t313