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<br />r
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<br />0908464-0
<br />
<br />CAP ASSU}WTION RIDER
<br />
<br />I
<br />
<br />.84- 002824
<br />
<br />THIS RIDER is made th::'s 25th day of May
<br />incorporated into and shall be deemed to amend and
<br />Trust or Mortgage (the "Security Instrument") of the
<br />undersigned (the "Borrower") to secure Borrower's
<br />Tower Financial, Inc,
<br />same date (the "Note") and covering the property
<br />Instrument and located at:
<br />
<br />,ICJl4 and is
<br />supplement the Deed of
<br />same date given by the
<br />Note to
<br />(the "Lender") of the
<br />described in the Security
<br />
<br />410 N. Waldo, Grand Island, Nebraska 68801
<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 />agree to the following additional provisions:
<br />
<br />The following paragraph 25 is hereby adopted:
<br />
<br />25. Transfer of Property; Assumption. Notwithstanding the provisions of
<br />paragraph 17 hereof, Lender shall waive its option to accelerate under
<br />paragraph 17 if (1) prior to such sale or transier Borrower notifies Lender'of
<br />the proposed transaction and sees that Lender is given any information" itmaY'c
<br />request in order to evaluate the person to whom the property is being'sold,'or.
<br />transferred, (2) Lender determines, in its sole discretion, that assUIDpU:on'()f,
<br />the loan by the proposed purchaser or transferree will meet standards.. of
<br />creditworthiness and security which are acceptable to it, which standards':
<br />shall, insofar as may be practical, be the same underwriting standards .as.sre
<br />then applied by Lender in connection with making a new loan, (3) the person to
<br />whom the property is to be sold or transferrecl executes a written assUlIIp,tioi!.-
<br />agreement accepted in writing by Lender, agrees to pay an assumption feewh~~h
<br />shall be equal to the origination, discount and other fees,chaJ:'IlI!S_.a~~.,
<br />processing costs then being charged by Lender on silllilarnew loall!l'.al14"a.iI!;;!!.eli{'
<br />to an increase in any applicable maximum interest rates as. p'rOV:icded'ber~;"ll~~F:'''_
<br />(4) no other defaults exist under the Deed of Trust or the Note,-'securil~,';;
<br />hereby. .
<br />
<br />If this loan permits conversion to a fixed interes..t rate andpaYJll!lntt
<br />then this rider shall only apply to a sale or transfer consWllllltE!d.-prl()r\:~~':
<br />such conversion. Upon election of Borrower to convert to a"fiXl!.drate,an~"();r'-,
<br />payment, this rider shall terminate and shall have no force. and. eff.Ct:on,:aJ:l~'"
<br />sale or transfer consUllllllated thereafter. If this loan providl!lk ~Qr::'.ll'!'''x:',:
<br />maximum interest rate, either with respect to the interest ratechar~!Il~-'c)r?~l'i~"i'-
<br />interest rate on which new payment amounts are computed. fro...-ti.ejit():~j,~~h
<br />then such maximum rates will be increased one percent, consecutivel:>!if9;r,,~~~;:'"
<br />assumption pursuant to this paragraph 25. Any such increase -willJ~e.ieffeC;t:1:V:e')'
<br />on the first change date following Lender's offer to approvetlle:.a.a.....ilJ;'l:oJtit;<
<br />such transaction is thereafter consu_ted. . .
<br />
<br />Lyle'
<br />
<br />
<br />
<br />Dated: ~lay 25, 1984
<br />
<br />'(B9tt~wetr .
<br />
<br />..t,C-
<br />
<br />_.:::""<U~ ',~;: -"_~-/~-,v?:;:;zr.
<br />Louise G. Johnston~/ (Borrower)'
<br />
<br />, ~,t,-'
<br />
<br />':;;:.
<br />
<br />STATE OF NERRASKA, Hall
<br />
<br />County, ss:
<br />
<br />The foregoing instrument was acknowledged before me this 25th day of
<br />Hay ,1~4 ,by Lyle C, Johns ton and Louis" G. Johnst~
<br />hushand and wife ----
<br />
<br />L
<br />
<br />Witness my hand and official seal,
<br />
<br />My commission expires: t11feArl'J!l
<br />
<br />~ DENISE KAY LOWRY
<br />GENERAL NOrARY S"'.ofNeb,.
<br />. ~ ... ~.:.\. My Cnmm. E~p. Aug, 25., 1987
<br />
<br />jl , ' ,,1.--:/ j
<br />r?Cti!J:&kJY~(Atf)~ .
<br />(Notar'i!Publi ~
<br />
<br />me-02l (qC)
<br />
<br />ne...... 2/84
<br />
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