|
<br />i
<br />I
<br />
<br />I
<br />
<br />ADJUSTABLE RATE RIDER
<br />
<br />84 -004418
<br />
<br />i
<br />J
<br />I
<br />
<br />2909 West
<br />
<br />
<br />Nebraska
<br />
<br />r
<br />
<br />THIS ADJUSTABLE RATE RIDER is mad,;thiS 74th. dayor
<br />and is incorporated into and shall be deemed to amend. and supplement the Mortgage,. Deed
<br />Instrument") of the same date given I>y the undersigiled (the
<br />SAVINGS" LOAN ASSOCIATION OF GRAND ISLAND,NEBRASKA
<br />and covering the property described in the Security Instrument and located at:
<br />
<br />ADDITIONAL COVENANTS, In addition to the covenant and agreementS made
<br />further covenant and agree a~ follows:
<br />
<br />A, INTE~RATEANOMONTHLYPAYMENTCHANGES
<br />The Note prOvides for an initial interest rate of 12 lIJo. Section 4 of the Note
<br />monthly payments, as fo1io~:
<br />
<br />4. INTEREST RA TE AND MONTHL Y PA YMElVTCHANGt-S
<br />(A) Cbaage Oates
<br />The interest rate I will pay mav change on the 1 st _ day of
<br />on that day of the month every 12 months th.-ereafter, Each date or
<br />
<br />(8) The Indn
<br />Beginning with the first Change Date, my interest rate will be based on an "Index." The Index is
<br />Treasury securities adjusted to a constant maturity of nnl? years, as made available by the Federal
<br />recent Index figure available as of 45 days before each Change Date is called the "Current Index."
<br />If the Index is no longer available, the Note Holder will cboose a new index which is based upon comparable Information, The NOte Holder:
<br />will give me notice of its choice.
<br />
<br />(e) Cal<ulatloD or CiuI_
<br />Before each Change Date. the Note Holder wiJ1 calculate my new interest rate byaddi.n8 hili! ~nrl ilnp..,;.h~ l.r pctc:entage:,~pOints
<br />(---2-.5....-_._~__ OJ.) 10 the Currenllndcx, and rounding to the nearest 1/8%. The sum will be my new interest rate. The minimum interest ratc~
<br />or. this loan will be no ies.$ than q ~ _lJ!e. The ma.'omum imerest rate on this loan will be no mOre than 1 C; c:; Oft..
<br />The NOle Holder will tben determine tbe amount of the monthly payment that would be sufficient to repay in full the principal! am
<br />expected to owe on the Change Date in substantially equal payments by the malUrlty date at my new interest ratc. The result of this calculation
<br />will be the new amouDl of In) monthly payment.
<br />
<br />(D) Eff..,tl.. nat. or C......ges
<br />My new interl"St rate will become eff<<,ti,,<e on e-ach Change Date. I will pay the amount of my new monLhly payment beginning on the first
<br />monthly payment date after the Change Date until the amount of my monthly payment changes again.
<br />
<br />(I') N_ 01 Cb...es
<br />The Note Hoider will mail or deh\'cr to me a nmj'e befort each Chang~ Date. The notice will advise me of:
<br />(i) the new interes.t ralC on my loan.as of the Change Dale;
<br />(ii) the amount of m)' monthly payment following the Change Dale;
<br />(iii) any additional matters \\: hkh the Note Holder is required to di!id05e; and
<br />(Iv) the tide and telephone: number of a person who will answer any question I may have regarding the notice.
<br />
<br />8. CHARGES; U.:NS
<br />Uniform Covenant 4 of the Security Ins:rumcnt is amended to read as (oHows:
<br />
<br />4. t.1aJqes; J..ieu~ Borrower shall pay aU taxes, assessments. and other charges. fi~ and impositions attributable to the Property whkh may
<br />attain a priority over thiS Security Instrument. and leasehold payments of ground rents, if any. in the manner provided under paragraph 2 hereol
<br />or, if not paid in such manner, by Borrower making pa)-ment, when due. directly to the payee thereof. Borrower shall promptly furnish to
<br />Lender all notii.'e$ of amoums due under this paragraph, and in the event Borrower shall make payment dirt\:tly, Borrower shall promptly
<br />furnish to Len4er r~cipts evidencing s.uch payments. Borrower shall promptly discharge an)" lien which h~ priority o\'er this Security
<br />instrument; howe\'er, Borro'4'tr shall nUl be required to discharge any "u;.:h Iien:.o long a!. Borrower: (3) shall agree:: in writing to the paymem of
<br />~he obligation ~Q,;Uled. by such lien 10 a llUUmer al."Ceptabic to Lender; (b) shalt m g.xKl faith l;ontesl such hen by, Of defend against enforcement
<br />of slKh hen in. legal pr;,)(.eeding.s which in the opinion of Lendec Qperate 10 pre\'CrH the cnfOrl.."eOlcnt of [he lien or forfeiture of the 'Pro~rty or
<br />an)' pail th<r('Qf; Of (c) !<iRati secure from the hold~r of $uch lien an agreemem on a form "',llisfa~tory 10 Lc:'nder subordinating 1>uch lien to this
<br />
<br />~ur~ty !~t...tu..rnen!
<br />
<br />L
<br />
<br />If Lendct detC'rmine3 tha~ all or any part ()f (he Pmpeny lS. .\ubJC'C! tu a lien wluch may atlam a pnorlt)' ~'ver rhl~ Security lmtrument, Lender
<br />shall g.jve Borrower OJ. notlce ldemif)o'ing such Hc'll. Honower \haH _).atl~ty -"\,Kh hen ll! Ii.\ke ont: ,-'I mOf~ of the adjIJIl,\ ~et forth above withll1 tell
<br />days of tbe iJ\'Uli of the uotk:(,
<br />
<br />C. NOTI(:E
<br />Caitonn C(n(ena.nt 14 Qf Iht ~unt~\ JOMl UiUCnl is amended to f;:ad a\ l'ullo....-....
<br />
<br />14. Solkt. t.iJi,\,."cpt tor an)' noth.:~ ltqUUed uuda applKabk law lu be gih:U ita anuther mamH". (a) l\H) Ih;~U\:t :p HOllower PW\ Hit,l {<.II Hl Ihl:,
<br />St\:u.nty Inurumc-nt :du111 be lillH,:n M- dehvc::rHlj it. or by Uhlllll\i Ii by flr~l das.\ rn.:ul to B4..HI UltoCI .lot the ~l!l)p<rn- AJ.dr~.." l'j .It :'.u;.:h lHhel ddc.!I('ss
<br />-ou 1k'"11fo",-cf i:nay (trugWtl_C b,- nuth,.(' to J .C'rkkf .u, f'tuv~d-ed herctin, il11d th) an)' nutl,:r: ;0 1 e-nJ(.'J ,o....lJ "be ~l\'l'n b~ fIr:;.t ~la~\ Ilhlli !I) 1 t'm_kf ~s
<br />ItdiJrt'.u '}t4ted h<rc1nw fo \Udl other addf~';u -<t,e') l-t"rl,\J-tf' maj desie.n-alt' by Hdn\-t: (-\I1.k~thlwCl .1\ f'h)"-hk'll h~n;Jn An..- rhl[l~'~' j."!(H l~kJ Inl m tius
<br />~1JX;'i)" tnsttuulCill 'l<tHdi ~ J<<lned to hil~t bet'ntW."~ll to lklltt)"~f \H LeIlde1 .....:""1; K!\(;l; ::1 thf> trt-iiHf1>::1 '..k:-"l.l',n';HcJ 11<;:1(').1'
<br />
|