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<br />ADJUSTABLE PAYMENT RIDER
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<br />83~06423
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<br />11lIS AI\JllSTAIlIE PAlHIlNr RIlEl. is made this 'i t h day of l' f' C er h r 1 9 p 3 and is
<br />in:orpomt.ed into and shall be deemed tD 8DIE!IWi ~_t tte: Mlrt:gage, Deed of 'l':rus1:, or Deed tD
<br />Securenabt (the "Security Instrl.lllent") of the _ dateg1ven by tre lDIersigned (the ''Borrower'') to
<br />lII!OIEeBo~'s MjustabIa ~ Note tD Tower FinaDci.a1, Inc. (the ''lender'') of tre _date
<br />(the "NoI:e") and <XlVI!riDg the property described in the Security Instnmeot and located at:
<br />
<br />r
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<br />4211) f\r.:fZODPl !\ve., ('nmr< IBl;lm:i~ ~<ebr['!fJ,2 (,.?801
<br />(Property Address)
<br />
<br />The Note Cont;ains Provisions Allowing For Changes In The Interest Rate And The
<br />Monthly Payment And For Incre~ses In The Principal Amount To Be Repaid.
<br />
<br />The Note Also Provides For Calculations Of Two Separste Monthly Payment Amounts.
<br />One 11111 Be The Amount That; I Must Actually Pay Each Month. The Other Will Be An
<br />Amount That I Would Pay Each Month To Fully Repay The Loan On. The Maturity Date.
<br />This Means That; I Could Repay More Than I Originally Borrowed Or That I Could
<br />Repay My Loan Before The Maturity Date.
<br />
<br />AI:tlIrIl:NAL COVEli\NIS. In additioo to the COYI!!l!IIlt:S and agt'E!EIllI!I1t made in the Security
<br />InatruueI1t, Bormoer and Lenler furt:bar cnvenant and agree as follows:
<br />
<br />A. INTEREST RATE AND MONTHLY PAYMENT CHANG~f ';r;r
<br />The Note provides for an init:1al interest nte of ., . - :t. Sect:l.oos 2, 3, 4, 5 and 6 of the Note
<br />prov:lde for ~ in the interest rate and the umt:hly !Byneots, as follows:
<br />
<br />"2. L'lTERESI
<br />(A) Inamlst c-i
<br />Intenest will be chatged on that part: of pd.ncipsl Iobi.ch has rot; been paid, beginning 011 the
<br />date I receive jXinc::IpIl and CI:llIt:inu1ng \81ti1 the full <IIlI:U1C of JXind.pal has been paid.
<br />'c t'...'it:
<br />llegl.an111g 00 the date I receive principal, I will !BY interest at; a ~1f.ratfl o~ p,,; . J,' -:t.
<br />The illI:lmI8t: rate I will m ...,. chaoge OIl the first day of tre DlO<lI:h of " . - } .,'
<br />and 00 ttat; day eoery . t .. llOOt:h t:bereBfter. Each date 00 ..ntch the lilterest rate coo.\.d chsnge is
<br />cal..Jad 00 .lnterest <fiiiiiiii!Date." The.- iocerest rate will bea:m! effective 00 eacl1 Interest
<br />~llate.
<br />
<br />(8) The ILXiez
<br />~;;i~ wit:l1,;~J~~~-&~.~~~'h,!'!Y.,~fl'1~",l'AA:ffl}~ p,..!!l\~f ;The
<br />
<br />, N,t",. '"" IIlIde lMI1.lable vy tta Federal &eserve Board. The IOO8t nlCS1t ~
<br />t~,~ Wi,fbr ~ ;~)i!~]~~(fi'~"~ late is cal..Jad the "UJrrent Inlelt". ..
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<br />If tbe Inla:.is ro J.on&er available, the Note !bIder will ch:xJee a rew itxJex which is h sed upon
<br />"""P".....1>1.. WC>rllBt;1oo. 1b!. N:>te !bIder will gi "" me mtice of this clr:>lce.
<br />
<br />(C) r...li"n].,~j~ of Inten.!st: llate Oml@e&
<br />, ~re each Jntereat; a-. ra~\ ~jE Note Holder will cal.cul.ate lIlY new interest rate by adding
<br />c ,15,. P"""""'AIJ" points ( . .,' %) to tta Qttnm; lIxiD:. ne Note Holder will then t'OllRi
<br />the ~ of thia addition tD the nearest ~ of oae pe.tee.nt:age PQi~,J~tlm)f""~ ~
<br />- will be lIlY DIlIi interest rate wtil tm 00lCt Interest: ~ late.
<br />F<.1tf', shall }'Dt (,,;,<:c€:'t:'(' ;?,. (';'f;:~-.
<br />(ll) 1nl:areat After Uefaul.t
<br />1ba intenst nu:a requ:I.xed by thia Sect10n 2 is the rate I will ooe both before and after ;my
<br />default dllecr1hed 1n Sect10n 9(B) below.
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<br />3. CALCU1.AUON OF AMOUNTS OWED EACH MONTH
<br />1ba lbte lb1der will ca.lallate lIlY full ~y /Im:u1t. The "Full M:lnt:hly /Im:u1t" is the <IIlI:U1C
<br />of the -any pglBlt t:IBt \D11d be suff1clml: tD reply the uopUd pr.ind.pal balatx:e of lIlY lam 1.1
<br />full at the :lnl:at:8at rate I aIIl I'e!fl1red tD !BY by SecdDns 2(A) and 2(e) above in ....,t....>-i..lly l!qI8l
<br />~ on '"~"O." "r,,'. , which is called the "IlI!ItUl'ity date". My fimt full
<br />ltlotbly JioI:ult is U.S. ~ ; .,., ,., . Before each Interest: ~ Date, the Note Ilo1der will
<br />calc:ulae the ... full itmthfy ......z.t Wlicb I will awe each llIlDth beginning on tta finlt lIOOthly
<br />lIl)WIIt date after the Interest: a-. Ilate.
<br />'DIe F-.lll M:lnt:hly ~ I awe II8Y be oore or 1.-s than the 8IIO.I1t I SIll required to pay each
<br />llIlDth. Sect10n 4 below stlIte:s the <IIlI:U1C of lIlY UlXldU.y !B)1BII!IIt: and how it will cl8nge. Section 5
<br />lWD# de8crthes how lIlY wpaid. prind.pal be1ance will chaa:Ige if the llIllOWt of my umt:hly payIllIlIll: and
<br />the F\ill. !tIDt:hly ...... are diffennt.
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<br />4. PAntIUiTS
<br />(A)'tfa atl'l.llCllit of ~
<br />I will pay ~ at itIImest by llISld.J:w payIII!iIltS ~ 1IllXlth.
<br />I.. wUl __. '"" ~y ~ 00 the first: day of each IlICIId1 ~ 00
<br />!~ h' l~ .. 1 will .... ~. plI)WIlt8 every 1IllXlth \S1ti1 I haw IBid all the
<br />I'" .,-,. ..... ., ot:ber ~ clucribed below t:IBt I GIIY awe \Diu: this Note. My
<br />lDlIdIl1..,...'I1U be &IlP1Jal. to ~ boIfom pt:iD::ipll. !f I st:Ul awe aDlGJ:S IXlder this
<br />Ib:ialll1 the ~1:1 dala, I will !BY thOIe_ in full on that date. 1lo8e lIIlDJIll:.I could be
<br />___ .~ . -- of lIlY 1aat -.tbly p&)l8U; befom the IlI!ItUl'ity date.
<br />1 will ....... llDIltIi1;y ~ at 2120 $cutb nm. Slnet. ~, Nl!bra8l<a 68124 or at; a
<br />~ ~ if llIqId,ndbytbr!iJ)tfl!blder.
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<br />~\J\,nH;:/f t"J,fltt -f'A", -Y.:rfY' "nt F
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<br />:~,~lr-~'~"l: 1~';-!:i":':~-rY )~'_; !':- ;,
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<br />'I'MC-Q05 (<1.<::) (Page 1)
<br />(1'1",,,, it/53)
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