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<br />0908427-1
<br />
<br />CAP ASSUMPTION RIDER
<br />
<br />84-002441
<br />
<br />TH1S RIDER is made this 7th day of May ,lf4 and is
<br />incorporated Inte and shall be deemed to amend and supplement the Deed of
<br />Trust or Mortgage (the "Security Instrument ") of the same date given by the
<br />undersigned (the "Borrower") to secure Borrower's Note to
<br />Tower Financial, Inc, (the "Lender") of the
<br />same date (the "Note") and covering the property described in the Security
<br />Instrument and located at:
<br />
<br />1117 ~est Division, Grand Island, Nebraska &8801
<br />(Property Address)
<br />
<br />In connection with the Note and Security Instrument executed by the
<br />undersigned Borrower and of even date herewith, Borrower and Lender hereby
<br />sgree to the following additional previsions:
<br />
<br />The following paragraph 25 is hereby adopted:
<br />
<br />25. Transfer of Property; Assumption. Notwithstanding the pro"J.sionso'{':
<br />paragraph 17 hereof, Lender shall waive its option to accelerate ,lIQder,
<br />paragraph 17 if (1) prior to such sale or transfer Borrower notifJ.e8Lena.r,::~f
<br />the proposed transaction and sees that Lender is given any inf,o~tion 'it'AII!lY';
<br />request in order to evaluate the person to whom the property isbelagso1:d,,:orc';
<br />transferred, (2) Lender determines, in its sole discretion, that asswilPtiou:of,'
<br />the loan by the proposed purchaser or transferree will meet .talldUds"of
<br />creditworthiness and security which are acceptable to it, which stanards,'
<br />shall, insofar as may be practical, be the ssme underwriting standardsas<are
<br />then applied by Lender in connection with making a new loan, (3) the person',~o
<br />whom the property is to be sold or transferred executes a written assumption
<br />agreement accepted in writing by Lender, agrees to pay an assumption fee which
<br />shall be equal to the origination, discount and other fees, charges aad
<br />processing costs then being charged by Lender on similar new loans, and,agre..
<br />to an increase in any applicable maxi_1a interest rates as provided,beloy", aneL,
<br />(4) no other defaults exist under the Deed of Trost or the Note secur.cF'
<br />hereby.
<br />
<br />If this loan pennits conversion to a fixed interest rate and payaeat,
<br />then this rider shall only apply to a sale or transfer consummated pr,iortCl
<br />such conversion. Upon election of Borrower to convert to a fixed rat.e--and/or
<br />payment, this rider shall terminate and shall have no force and effect on any
<br />sale or transfer consu_ted thereafter. If this loan provides for any
<br />maximula interest rate, either with respect to the interest rate charged or the
<br />interest rate on which new payment amounts are co.puted frOll ti..to tt.e,
<br />then such maximua rates will be increased one percent, consecutively, tor each
<br />assUlaption pursuant to this paragraph 25. Any such increase will be effective
<br />on the first change date following Lender's offer to approve the assuap.tion.if
<br />such transaction is thereafter consumaated.
<br />
<br />Dated: 'I.W ;. 19,,4
<br />
<br />,
<br />
<br />/J) /C('!~.,
<br />/ ~;---~ ,.-J:YLe.--......
<br />
<br />:1" rk J. Brei;
<br />
<br />(Borrower)
<br />
<br />
<br />(Borrower)
<br />
<br />STATE OF NEBRASKA, :~_County. ss:
<br />
<br />'1av The forego;~4 in8~~~~trkW~. ~~:~~~~:ddgr~d~r~v~f~~.e ;:~"jt,hiS ~day of
<br />husband and ~If~-' .-
<br />
<br />L
<br />
<br />Witness my hand and official seal,
<br />My c.-iuion expi res: /2(1/1 ,;iJ; I fd7
<br />.'
<br />
<br />.i.-~1i<,.(ii41L~~';o~_-
<br />(Notary,~ublic) ~
<br />
<br />.L DlNI~ KAY lQW_Y
<br />.' ',__ GfNUAL NOTAR",$Ii!f,'lJt\'f",...t<<
<br />. My c~_ b~f' A,,'l is 1;8J
<br />
<br />-Ne-in 1 (qc)
<br />
<br />;1 <~ \oJ ~\! '1 tl
<br />
<br />
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