|
<br />I
<br />
<br />84~---- i 0044S'dt
<br />ADJUSTABLE PAYMENT RIDER
<br />
<br />I.'.,;
<br />
<br />(J)(J:;~()U~: -,';
<br />
<br />r
<br />
<br />'IBIS ADJUSTAIlI.E PAYM;Nr RIlER is made this 23rd day of "Uf1Jst 1%4 , , an! is
<br />incorporated into and shall 1:e deemed to amend and wpplenent the Mortgage, ,Deed at T'rI1St, or U!ed',to
<br />Secure Debt (t1:e "Security InstrlJlmnt") of t1:e saue date given by too UlJiersiglled (too'~")to
<br />secure Borrower's Adjustable P8.}'llEnt Note to Too;er Financial, Inc. (the ''Lender'') of the saIOO date
<br />(too ''Note'') and covering too property described in too Security Inst:l:'ulDen!:aal 10cated at:
<br />
<br />119 '.: 2(lth~ " (~rr'n{1 1~;li_Ul~,i,_
<br />
<br />-!t,t-T<ls-ki.l 8.{~<H
<br />(Property Address)
<br />
<br />
<br />The Note Contains Provisions Allowing For Changes In The Interest Rate And; The
<br />!fonthly Payment And For Increases In The Principal Amount To Be Repaid.
<br />
<br />The Note Also Provides For Calculations Of Two Separate MOI1thlyPayment' .AiIloun"ts..
<br />One Will, Be The Amount That I Must Actually Pay Each Month. The" Other Will Be ,An
<br />Amount That I Would Pay Each Month To Fully Repay The Loan On The'~aturityDate'
<br />This Means That I Could Repay More Than I Originally Borrowed Or Tliat ,I Could
<br />Repay My Loan Before The Maturity Date.
<br />
<br />ADDITICN\L (])1I'ENAN!S. In additJon to too CO\1enants and agreaoonts
<br />Inst:I\1m2nt, Borra.oer and Lenler furtoor covenant and agree as fo1J.ows:
<br />
<br />A. Il,"'TEREST RATE A...\iD MOt\'THLY PAYMENT CHANGES
<br />The Note provides for an init:lal interest rate of ! 1.75'" :t. Sectiots 2, 3,4,5,6 and 7 of the
<br />Note provide for ~ in too interest rate and too IlDnthly payments, as follows:
<br />
<br />"2. INTEREST
<br />(A) Interest ();ed
<br />Interest will 1:e chal:&ed on tmt part of principal d.:.h;"", not been raid. OOginni>>g' on 'tree.
<br />date I receive principal and cont:ln.ting until tm full arount of principal has teen prld.
<br />Beglming on the date I recave principal, I will pay interest at a yearly rate of 11,7 SO :t.
<br />The interest rate I will pay lIB}' change on the first day of the IlDnth of ",nc:', l'}""
<br />and on that day every 6th JJOOth thereafter. Each date on ..w.ch the interest rate could change is
<br />called on "Interest ~ Date." The Ilei interest rate will l:leccaE effective on each' Interest
<br />Qmnge Date-:~_, t;'t,,!"; :~r- r,-HF r ':~l _;':-~_dl i;d- ':'~.:<-l,'C~:; J ':..~i-\
<br />
<br />(B) The I1Xlex
<br />Beg:I.nning with the first Interest ~ Date, my interest rate will be 00sed on an Index. The
<br />"IxxIeK" is the I.Eekl Y Auction Average Rate on United States Treasury bills with a maturity of 6
<br />Iltlnths, as made available by too Federal Reserve Board. The IlIlSt recent IxxIeK figure as of, too date
<br />45 days before ea:h Interest Omlge Date is called the "Current Irxlex".
<br />
<br />If the IxxIeK is 110 ~r available, the Note Holder will cmose a new index >iU.ch is based upon
<br />C<JJpmlb1e :lnfoIlllat1on. The Note Holder will give IDa rotice of this choice.
<br />
<br />(C) Calcu1atioo of Interest Bate Olanges
<br />Before ea:h Interest ~ Date, the Note Holder will calculate my Ileiinterest rate by ad~
<br />;. percentage paints C. ' %) to tOO Current IxxIeK. 'n'.e Note Holder will then rQUDd
<br />the result of this addition to tOO nearest one-eighth of one percentage point (0.125%). This 1WJXled
<br />BIOOUnt will 1:e my new interest rate until the next Interest Qmnge Date. '..,r;,crt ,!'c' '",'X;nr ;n:"l'est
<br />
<br />.'_; t.;:-' ...:.~\-, II "t 1>\ \ 'i',
<br />
<br />L
<br />
<br />(D) IncerE&t After Defallt
<br />The interest rate required by this Section 2 is tre rate I will owe. both before and after any
<br />default described in Section 10(B) belClo/.
<br />
<br />3. CALCULATION OF AMOUNTS OWED EACH MONTH
<br />_ The Note Holder will calculate my Full Monthly AuDunt. The "Full Monthly AIoount" is too amlUIlt
<br />at the IOOnthly payment that would 1:e sufficient to repay the unprld principal bilance of my 10!lI1 in
<br />full at the interest rate I an required to pay by Sectiors 2(A) and 2(C) above in substantially equal
<br />paymentS on ':."'l, .""" :, "Je'. , >iU.ch is called the "lIBturlty date". My first Full
<br />Monthly Aannt is U,5. $ , ",. . Before each Interest Omlge Date, tre Note Holder will
<br />calculate the new Full l-tlntl\.ly AIoount iotdch I will owe. each IIXlllth beginning on the first mnthly
<br />payment date after the Interest ~ Date.
<br />
<br />The Full Monthly AIoount I owe lIBY 1:e mre or less thm the aIIDUIIt I an required to pay ea:h
<br />Dalth. Section 4 belClo/ states too BIOOUnt of my IIXlllthly payment and 00. it will change. Sectioo 5
<br />beJ.Clo/ descri1:es 00. my unpaid principal baJaoce will change if too aIIXlUIlt of my mnthly payment and
<br />the Full Monthly AuDunt are different.
<br />
<br />4. PAYMENTS
<br />(A) Time and Place of Payuents
<br />I will pay principal and interest by making payments every lIDnth.
<br />
<br />I will lIlake my lIXlllthly payments on the first day of each DXlnth beginnirg on
<br />',' , , " ", . I will IIlIlke tOOse pa)'lOOnts every lIDnth until I have paid aU tre
<br />Pd.nctpal mI interest and f!J1J.y other charges described below that I lIB}' owe. under this Note. MY
<br />IIXlllthly payments will 1:e applied to intcerest before prll1clpal. If I still owe SIlIlunts under th.lS
<br />!lotl!l on the 1Il8.turity date, I will pay tlx>se aDXlUnts in full on that date. Those aDlJUnts cwl.d be
<br />greater thm tre !IID:lUnt of my last IlOnthly pa)'lOOnt before the lIBturity date,
<br />
<br />I will IIlIlke my lIXlllthly pa)'lOOnts at 2120 South 12nd Street, Onaha, Nebraska 68124 or at a
<br />different place if required by the Note Holder.
<br />
<br />ADJUSTABLE PAYMEN'T NOTE 6 MONTH TREASURY INDEX (l - 4 Family)
<br />
<br />P1C-i.-t]\} (qc) Pt.L~e 1
<br />~'c." _y ,-,,~ t~ 1.:111 ~: -Ll
<br />
|