84002228 - Laserfiche WebLink

Browse

r 84 --002228 -~f,~.~,,- CAP ASSUMPTION RIDER THIS RIDER Sa mde chi• G'tr' day of ""rit ,1~' and is incorporated into and shall be deemed to ascend and supplement the Deed of Trust or Mortgage (the "Security Instrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Note to T€rwer i~fnancial, tr,c. (the °Lendet") of the sane date (the "Note") and covering the property described in [he Security Instrument and located ac: °lt F. iasmark, 'rand island, '.ehraska 6RRt?1 (Property Address) In connection with the Note and Security Instrument executed by the undersigned "narrower sad of even date herewith, Borrower and Lender hereby agree to the following additional provisions: The following paragraph 25 is hereby adopted: 25. Transfer of Property; Assumption. Notwithstanding the provisions of paragraph iT hereof, Lender shall valve its option to aceelesau uadsr paragraph 1T if (1) prior to such sale or transfer Borrower notifies Lender of the proposed transaction and sees chat Lender is given any information it map request in order to evaluate the person to whoa the property is being sold or transferred, (2) Lender determines, in its sole discretion, that assnmption of the loan by the proposed purchaser or tranaferree will meet standards of creditworthiness and security which are acceptable to it, which standards shall, insofar as may he practical, be the sane underwriting standards a• ass Chen applied by Lender in connection with making a new loan, (3) the peraoa to whom the property is to be sold or transferred executes a written aaawptioo agreement accepted in writing by Lender, agrees to pay an assumption fee which shall be equal to the origination, discount and other fees, charges and processing eoaea then being charged by Lender on similar now loans, and agssss to an increase in any applicable maziswm interest rates a• provided below, and (4) no other defaults exist under the Deed of Trust oc the Note sacused hereby. If this loan permits conversion co a fixed interest rate amd payment, then this rider shall only apply co a sale or transfer consummated prior to such conversion. L'pon election of Borrower to convert to a fixed rate and/or payment, this rider shall terminate and shall have no force and effect on any sale or Gran:fer consummated thereafter. Lf this loan provides for any maximum interest race, either with respect to the interest rate charged or the interest rate on which new paysent amounts are computed from time to ties. rhea such maximum rates will be increased one percent, consecutively, for each asswption purauaat co this paragraph 25. Any Such increase will be effective on the first change date following Lender"s offer to approve the assumption if such transaction is thereafter consummated. r~* i I~ , . ;, ~, a ,.,~ ". U Dated: ,'~ ~ ~~~` ~~ ~. ( Borrower) S2ATE OF NEERASRA, '•~'- County, sax The faregai instrument vas a kgorle b~foFe his _'ts day of ,i3 ,bp Yitnms• h hand and official seal. M1 commlaalon expires: t .,.~_: i,s~ OfWSE KAY tOVyRI `r*`,,` ,c '. ~ t ( .". . ~ GCNE1tAI;taoTArYS..acrw.e.- -~~~.;otarp, Public) l :+w ~ ~,