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<br />f'~"'c:e~tb-et' 1:2", 19R3
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<br />ADJUSTABLE PAYMENT NOTE
<br />(With Payment Cap Option)
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<br />83-006552 OC6075H
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<br />This Note Contains Provisions Allowing For Changes In The Interest RatehdThe
<br />Monthly Payment And For Increases In The Principal AllIountTo Be Repaid.
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<br />This Note Also Provides For Calculations Of Two Separate Monthl)T Payment Amounts;
<br />OneWUl Be The Amount That I Must Actually Pay Each Month. . The.Otherl-lillBe~
<br />Amount That r Would Pay Each Month To Fully Repay The Loan On . 'rl\e Maturity~t~~
<br />If The Provisions Of This Note Permit Me To Do So, I May Be AhleToLimi.t,;My..,
<br />MonthlyPayment Increases To 7 112% Each Year.
<br />
<br />The Principal Amount I Uust Repay May Be Larger Than The Amount. I Orig:!,n81;ly
<br />Borrowed. Or I Could Repay My Loan Before The Maturity Date. '
<br />Gr~Jnd Island, rehraska
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<br />.:"1:3 1: ~-~0rt~: rrcr:t, (:r':;1:~l ~f~l.:,~,;~ "~el~r;:L'1k-i.-'\ (,P,POl
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<br />(Propetty t\ddresS)
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<br />1. BORROWER'S PROMISE TO PAY '0 7<" 0')
<br />In return for a loan that I have received, I praIIise to ply U.S. $ " , ' .,'. . ,}\ . plus any
<br />incmasEd BIIIOlXWI added in accotdmx:e with SEction SeA) of the Note (this totaI8IIllllDt is called
<br />"prUd:pal"). plus interest, to the order of the Lender. 'Ire Lender is Tower F1nmc1al, lnc. I
<br />\DIerstand tlm the Lender lIlSy transfer this Note. 'Ire Lender or SIl}'OIIe...ro takes th1s !bte.by
<br />transfer and ..ro is entitJ.ed to receive plytU!l1ts 1Dler this fute is called the ''fute Holder."
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<br />2. INTEREST
<br />(A) Interest o.ed
<br />~ w1ll he charged on that pltt of principal Ioilich has oot been paid, beg1mI.ng on the
<br />date I rec:e1ve principal and continuing mtil the full aIDl[lt of pdnc.ipal has been paid.
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<br />llegl.ming on the date I recei"" principal, I will ply inteJ:est at a J"El!lFl~ tate of, '" ~ () '('!.)('%.
<br />'Ire interest rate I w1ll pay may change on tha first clay of the IIllnth of ,q; , y I, 1 '....
<br />and 00 tlBt clay ewxy 6th lIIXlth thereafter. Each date 00 Ioilich the interest rate could change is
<br />called 00 "Interest: Olaage Date~" .:I):>e ~. ipFerest rate. w1ll becaDe effective on each Interest
<br />ChaQgeDate. """i.' Jl-,l(n:-~-t r~-~tf_ '\,~.,. ';~':-_lll)t ",'--;CC"l."(! 1<:,
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<br />(B) 'Ire Index
<br />~ with the first Interest Olange !late, I1r! inteJ:est rate will be based on an Index. 'Ire
<br />"Index" is the weekly auctirn avoerage rate on lbited States Treasury bills with a oaturity of 6
<br />llXXlthB, as lIlSde available by the Federal Reserve Board. 'Ire lOO8t recent Index figure as of t<, ''lte
<br />45 clays before l!lilCll lnt>!reSt Olange !late is caJ led tbe 'Urrrent Index".
<br />
<br />If the Index is no longer available, the lbte Iblder will cOOose a ~ index Iotrlch is based upon
<br />""""'....hl.. infOllllltion. The Note Holder will give me ootice of this choice.
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<br />(C) ('Al""bHon of Interest Rate 0lan8es
<br />BefOll! l!lilCll Interest 01ange Date, the lbte !lolder will ca1cu1ate I1r! new interest rate by add!Ill
<br />, ".. pett:ent:asa paints ( .' e .:t) to the Current Index, 'Ire!bte Holder will then round the
<br />~ this add1tirn to the .-rest one-eighth of ODe I>=8ltage point (0.125%). This rounded
<br />SIIIUIt will be lqy new interest mte mill the llI!Xt Interest Olange llate. ;_,.('{,.,t ti., ,.,,,:i,,'" intrn."r
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<br />:--2~tt: sh.;J,l r('~t ('-)(C{'{.'I::: ~: ..
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<br />(D) Interest After Default
<br />'Ire interest rate required by th1s Section 2 is the rate 1 will owe both before and after any
<br />defaulr; de8cr1bed in Section 9(B) bel.cAi.
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<br />3. CALCIJ1.ATION OF A.'tOUNTS OWED EACH MONTH
<br />'Ire !bte llolder will calcula.te UlJ I'\1ll !bIthly hoooot. 'Ire "Ml Mxlthly hoooot" is the SlJI:U1t
<br />of the llUlI:hl.y payIII!DI; tlBt IoD1ld be suff1clenl: to reply tt.. unpaid principal balance of my 10Bn in
<br />full at tbe inten!st rate I all required to pay by Sect::iOlls 2(A) and 2(e) abooe in substantially equal
<br />~(lQ ~"iii'r'.' 1 .".'1{; ,tobich is called the "Dlllturtty date". My first I'\1ll
<br />M:lIlthly ltrDaU: .5. ~."" BefOtB each Interest 01ange llate, the Note Holder will
<br />calaI1ate the new Full . J\maoot Wch I will awe each !IIXldl beg1mI.ng on tt.. first amthly
<br />~ data after the Interest Olange !late.
<br />
<br />'!he I'\1ll !bIthly.'mn1t I owe I'lB'J be more or leas than the atIllI.Ilt I am required to !BY each
<br />!IIXldl. Section 4 below states the aallU1t of my amthly pl)'lll!!llt and how it will~. Section 5
<br />below <IeEribes how my UIl{II1d p:inc1pal balance will cbq:e if the 8IlIOWt of my amthly pa)'lll!!llt and
<br />tbe I'\1lll>l:tthly J\maoot are diffe:n!nt.
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<br />4. PAYMENTS
<br />(A) TJa lDI Plaee of Pa,.m:a
<br />1 w1ll pay pdDclp!Il and interest by !lIlIking pa)'lll!!lltS every lOOIlth.
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<br />1 will ... ., llUlI:hl.y p87IBItlI at tt.. first clay of each IlDlth begi~ on
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<br />~r;. ~ ml ~ ~ ~ ~~below ~~1'lB'J ~ ~~fu~ ~
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<br />~. .~wUl be aJi!l'lUad to. ~ befonI princ:ip&l. If I still owe BIIIOlXWI ooder this !bte
<br />OIl dle ~..... I wUl pay ~ _infull on tlat date. 1hleB aDD;a could be gI'elltar
<br />u.t. tbe .... of II\l' 1Mt -*:hl.y ~ befoI:a the Il1Ilturity date.
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<br />r 1dll ..... ., -.till)' ~ at 2120 South 720d Street, Olaha. Nl\braska 68124 or at a
<br />~. pi-. if requ1J:1ld by the Note llo1der.
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<br />AllJUSTABt.i PAYMENT NOn 6 l:IONTH TREASUilY INDEX (1 - 4 Family)
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<br />THe-Ol3 (qe) (Pa~e 1)
<br />(N..", \l/S3)
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