84004409 - Laserfiche WebLink

Browse

I 84- 004409 RID E R r NOTICE: THE MORTGAGE SECURES A NOTE WHICH CONTAINS A PROVISION ALLOWING FOR CHANGES IN THE INTEREST RATE INCREASES IN THE INTEREST RATE WILL RESULT IN HIGHER PAYMENTS, DECREASES IN THE INTEREST RATE WILL RESULT IN LOWER PAYMENTS. This Rider is made this 23rd day of August , 1984"iarid:i'~. incorporated into and shall be deemed to amend and supplement theMtJrtgag~()f' even date and attached hereto given by the undersigned (the "Borrower")to secure Borrower's Note to Norwest Bank Grand Island, National Association' (the "Lender") of the same date (the" Note") and covering the prop.:rt:ydescribEld.;. in the Mortgage and located at 4018 Bucki nqham Ori ve, Grand Is 1 and, Nebraska" Lot 62. Cas 1 Estate Subdivison Hall Count6 Nebraska Property Address} Modifications, I n addition to the covenants and agreements madeinthe Mortgage, Borrower and Lender further covenant and agree as follows: A, INTEREST RATE AND MONTHLY PAY 'N, CHANGES The Note has an I'initia; interest Rate!! of 12.00 t. The Note interest rate may be increased or decreased on each Change Date, as described in the Note. Changes in the interest rate are governed by changes in an "Index." The Index is the U.5, Treasury 5ecruities- One Year. The weekly average yield of one year U.S. Ireasury Securities adjusted to a constant maturlty at one year. , determined in the second calendar month preceding each Change Date. Such changes in interest rate will occur on the First of February commencing February 1, 1986 , Increases and decreases in the interest rate are limited to a change of ~% each Change Date, If Ihe interest rate changes, the amount of Borrower's monthly payments will change as Pl'ovided in the Note, Increases in the inter- est rate will result in higher payments, Decreases in the interest rate will result in lower payments. B, LOAN CHARGES It could be t11at the loan secured by the Mor.tgage is subject to a law which sets maximum loan charges and that law is interpreted so that the inter'est or' other' loan charges collected or" to be collected in connection with the loan would exceed permitted limits, In this event, th~n: (a) any such loan char-ge shall be red'1Ced by the amount necessary to r"educe the char-ge to permitted limit; and (b) any sums already collected from Borr"ower" which exceeded permitted limits will be refunded to Borrower, Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower, C. TRANSFER OF THE PROPERTY If there is any transfer of the properly, including a transfer described in Par'agraph 17 of the Mortgage, Lender may require either an increase in the current Note interest rate, an increase in the Base Index figure, or a change of any of the 10.111 ler-fIls, as a condition of Lende,' waiving, the oplroll to acceler'ate prOVided ill Paragr'aph 17. L By signing this, Borrower ,;gr'ees to all 01 the dbove, ~ Of -.. .,;' l' ~< -- JeflK,; '{ -Rd';J,l-'l-- ----'i.lo;:,'ow er'--'