83006735 - Laserfiche WebLink

Browse

I 83.;;;-...006735 0060791-5 ADJUSTABLE PAYMENT RIDER mrs AIlIlJSTABI.E PA>>t!:Ill'RIlER is Be this 23rd day of December 1983 and is illCOl:pOmted into and shall be deemed to lIIllI!lId ~ tie M:lrtga@e, I.leed of Trust, or Deed to Secure Debt (tie. "Se.ority 1ilstrlllEnt") of tIE same date g1vm by tie undersigned (tie ''Borroer~) to SI!lCUreIlotWWet'~s Adjustable Payment: tbte to n-r Finmcial, Inc. (tie ''I.eoder") of tie same date (the "tbte")8lld cmeriDg the property descr.l.bed :l1i tie Security Instnment 8Ild located at: 1SQR W. N. Front Grand Island. Nebraska 68801 (Property Address) The Note Contains PrOVisions Allowing For Changes In The Interest Rate And The Monthly Payment And For Increases In The Principal Amount To Be Repaid. The Note Also Provides For Calculations Of Two Separate Monthly Payment Amounts. One Will Be The Amount That I Must. Actually Pay Each Month. The Other WiU Be An Amount That I Would Pay Each Month To Fully Repay The Loan On The Maturity Date. This Means That I Could Repay More Than I OriginaUy Borrowed Or That I Could Repay'My Loan Before The Maturity Date. AlJlIl'IalM. <XlIIENANIS. In addit1<Xl to tie <XM!lllUItS and agIeEIIlellts Be in tie Security InstrullleDt, ~ sn:I LenIer further covenant and agree as foll.oooil: ~I~~-r:or~ ==~~~C~Grr.500 %. Sectioos 2,3,4,5 and 6 of the Note p:aw1de for changes in the interest tate sn:I the nm.thly plyments, as foll.oooil: .. 2 . INTEREST (A) lnten!st ();ed I.aterest . will be cImged <Xl that paI'1: of princlps.l Wlich has not been paid, beginning <Xl tie date I receive pd1lcipel. SIld ~n..ing until the full BIlIlU1t of priDcipellBs been plid. IIo!g1m1ng <Xl thedste I receive pdnc:1pel, I will pay inten!St at a yearly mte of 11.500 %. '!he i.nten!st rate I will pay lIIlY change <Xl the first day of tIE llDIIth of J ul y 1. 19!14 and <Xl tmt dsy eIleIY 6 t h llDIIth thereafter. Each date on Wlich the int:eIest mte could ~ Is cs.Ued 00 "Interest Cfiiiiiiii!Date." The tleII interest rate will becane effect! ve on each Interest C1lqJe 18te. (8) The Inleot Beg1ming with the first Interest Olsoge 18te, my 1ntexest rate will be based 00 an Index. '!he "Index" is the WeEkly ,'\uction A",rage Rate on UnIted States Treasury hills with a maturity of 6 nnnths , as Be available by the Federal Reserve llosrd. The moet recent ~ figure as ot the date 4) <lays before each Int:eIest ~ Date is called the "01rrent Index". e Interest rate I will pay shali not exceed 14.990%. If the Index is no longer available, tie !bte Iblder will clDose a new index "*W:h is based upon """"'....to1'" :lnfotllBt1on. '!he!bte lblder will g1.ve IIle ootice of this croke. (C) 1'...10118tioo of Interest Rate a.u..,. Before each Intere6t Olsoge 18te, tie tbte Ilolder will ca1cul.ate my tleII interest rate by adding ~ ~ ~ points ( 4.15L%) to the O1rrent Iodex:. The tbte Holder will th:!n tl:>lnl t of th1s cidd1tion to ~ aae-e1&hth of ODe petcentage point (0.125%). 1hiB ro.njed lIIDI:lt will be my ... 1ntet'est <ate tnt1l the ~ Interest ~ rate. Except the lMXl.nun Interest rate shall not exceed 14.990%. (D) Intm'est After Default '!he int:Jm!B~ rate required by this Section 2 is tie rate I will owe both before aoi after any defau1~ cIescribed in Section 9(8) below. 3. CALCULATION OF AIlOUNTS OWED EACH MONTH '!he Note Ib1der will c.alcu.la.te my Full M:lothly aam. The "Full M:lothl.y Paxnt" is the IIDOOOl: of the .xtthly polyIBlt that -wi be lI1ffic1eDt to repay tIE I.I.1ps.Jd principel bi.lance of my lam in full at the 1ntenBt mte I _ rer:,.dred to pay by Sect10as 2(A) aoi 2(e) above insubstant:l.al.ly equal pa~ an ~n'lf~ 1 2014 , ob1ch is called the "lIIiturity dat<:", M,y fimt Full ltlotbly ~ . . ~lDthP~. Befom each Inte%est Olsoge Date, tlE!bte lblder will c.alcu.la.te the lei Full y ..tIidl I will owe each 1lD1th begina1ng on the first lIIX1l:hly polyIBlt date after the IIII:ere&t 0Jmae rate. '!he FuU ltmthly aam I owe !lIlY be '*'te or lals than the annnt I am required to pay each 1JIXIth. Section 4 below states the lIIDI:lt of my lIDlthly ps.yment and b:lw it will <:Im1!le. Section 5 btlow deeer1bes b:lw my \X1Pflid princlps.l bi.lance will charlae if tIE aDJUlt of my lIDlthly pay.Blt and the FuU ltlDthly .IJIIlwt are <:liffen!nt. 4 . 1'A:atENTS (A)'" llIId l'Lf!ce of ~ lloIlU r-Y pd1lcipel. llIId 1nteast by ~ pIl}Wml:aelleIY mooth. I .llUl. ... I1lIf IDlthly ~ at tie first day of each IlIlDI:h begina1ng on ~," 1 ~. ...1 will... tIEa ~ every mooth \nUl I have ps.1d. all the .. . .. -.:t.lIlld any other ~ de8cr1bed below tlat I !lIlY owe tmder this tbt.e. M,y ~~.li!1U at appUad to ~ bIIfore pdndpal. If I still owe 8IIlUtt8 tmder this -.. on ~lIItUd.qr due, I w1ll pay tboa..-u in full on tIw.t date. 1b:lse I&lUI1ta could IE ...... tMl the._ of.11lIf 1llst llIBh1y ~ befora the 1lIltutit;y date. r ldll. ... lIf' lICI:lthl,y ~. at 2120 Sooth 72nd Stnlet, Ol8lB, Nebtaeka 68U4 or at a ~ p1lIIQa if 1!llfd.1'llIl by the Note ~. I\IHItS1AllLl'; I'AI"Ml::ST NOTE 1\ W')'1T!1 Tlll':^<;t}~y fKllEX (1,- F''',d!'') TMC-005 (qc) (Page 1) (lie", 11/83)