|
<br />I
<br />
<br />84- 00521(1
<br />ADJUSTABLE RATE RIDER
<br />
<br />r THIS ADJUSTABLE RATE RIDER is made this 28th day or September .i9 84 ,
<br />I and i. incorporated into and ,hall be ~med to amend and supplement the Mortgage, Deed of Trust. or Deed to Secure Debt (the "Security
<br />Instrument") of the same date given by lbe undersigned (the "Borrower") to secure Borrower', Adjustable Rate Note to HOME FEDERAL
<br />SAVINGS "LOAN ASSOCIATION OF GRAND ISLAND, NE8RASKA (the "Lend.,..") of the same date (the ;~N()te")
<br />and covering the property described in the Security Instrument and located at:
<br />
<br />1812 W. 17th, Grand __~~_Iand, Nebraska 68801
<br />(Property Address)
<br />Th. Not. rontai... provisions a1lowiJlg for .banges in the Inte....t rate. If lb. IDterest rale
<br />increases, me DorroW~i iilOiitidy pa)'iDfliiS Mil be Diiiief. -if ilie bit<<--at i'iiit€-~.___, the
<br />Borro....r.s molltbly paymenlll will be lower.
<br />
<br />ADomONAL COVENANTS, In addition to the covenant and agreements made in the Security Instrument, Borrower and Lender
<br />furth.r covenant and agree as rollows:
<br />
<br />A. 1~!1S'f RATE AND MONTHLY PAYMENT CHANGES
<br />The Note provides for an initial interest rate of ! 2 IV., Section 4 of the Note provides for changes in the Intere$trate-llnctthe'::-
<br />monthly payments, as follows:
<br />
<br />
<br />4. INTEREST RA TE ANDMONTHL Y PA YMENTCHANGES
<br />(A) CIIaIIge Dates
<br />The interest rate I will pay may change on the 1 st day of November 19",,85 ";1liid;'{'
<br />on that day of the month every I 2 months thereafter, Each date on which my Interest rate could changeis caIled'a ''Cball8eDiteJ''-';'
<br />
<br />(]I) The I""""
<br />Beginning with tbe first Change Date. my i;,terest rat. ..,m be based ,), 'Index." The Index is the wecoldy averaaeyieldonUnited,StlUes--
<br />Treasury securities adjusttd to a constant ma~urity of one years, as made available by the Federal ,Reserve Board. The tl1fl8l""
<br />reccntlndex figure a vaiJable as of 45 days before each Change Date is called the "CurrentlndeJt."
<br />If the Index is no longer available, the NOle Holder will choose a new index which is based upon compaf'llbie informatiotl. The Note HoIdeI: , ~
<br />will give me nolice orits choke, "
<br />
<br />(e) CalaolaIiOllOf a.a.a.
<br />ik~~rcr;:~ Chatt5'" Date. thi: Nuic H~dt:~ win ~:aktitiUf ill)' new inter~t rat~ by adding -two nnd one-he;t-f f ~~~:-
<br />( L. .J ~) to the Current Index" and roundina to die nearest li81fo. The sum will be my new- inierc:st l1lic. l'iie~nt\Uliin~~<
<br />on this loan will be no less than 9 , 5 .,., The muimum interest rate on this loan wiD be 00 more than . I 5, 5-- . "!'t..,
<br />The Note Holder will then determiDe the amount of lhe monthly paymenl that would be 5ufficieDtto repay InfuU fbe..pri!lCipaI I lIJIt
<br />expected to owe on the Change Dale in $Ubstantially equal payments by the maturily dale al my new int_t rate, The result of tJM~:,-
<br />will be the new amounl of my monUliy payment.
<br />
<br />(D) m.dh'. Date of CIIu&es
<br />My new interest rate will become effective on each Change Dale, I will pay the amoum of my new monthly payment beainninaon thdim--
<br />monthly l"'yment dale afler the Change Dale until the amount of my monthly payment changes .0,
<br />
<br />
<br />(E) NolI<e of Clluaa
<br />The Note Holder will mail or deliver 10 me a notice before each Change Dale, The notice will advise me of:
<br />(i) the new interest rate on my loan as of the Change Date;
<br />(ii) the amount of my momhly payment following the Change Date;
<br />(Hi) a.."1y additional ~t!!fS wh..icl! 1M Note Hmd~ is required to disdO-~; and
<br />(iv) the title and lelephone number of a person who will answer any question I may have reaarding the notice,
<br />
<br />B. CHAllGES; LIENS
<br />Uniform Covenant 4 of lhe SecurilY Instrument is amended to read as follows:
<br />
<br />4. ClwJos; u.... BorloWer shall pay all taxes. assessments. and other charges, fines and impositioll5 attributable ~o the Property which may
<br />attain a priotity over this Security Instrument, and leasehold payments of ground rents. if any. in the manner provided under Jlllf8II8I)h 2 ~r
<br />Vi. if r~ j)iid in ,ii.M'l n-.aw.itr. by &no,"ei w.akjr-ti pa)'"~". when du~. dir".ly to the iJ8.:;w thereof. Borrower shall prOmp'~Y furnish to
<br />Lender aD notices of amoUlUS d~ under this paragraph. and in the event Borrower shaD make paymen~ directly, Borrower shall promptly
<br />furnish 10 Lender recei;>ts ..idencing such payments, Borrower shall promptly discharge any lien which has priority over this Security
<br />IDSU'IlIUent; however, Borrower shall nOt be required to discharge any such lien so long as Borrower: (8) shall agree in writing to the payment of
<br />theobliption secured by such lien in a manner acceptable 10 Lender; (b) shall in good faith contest such lien by. or defend apinst enforcement
<br />of such lien in, Ieaal proceedings whkh in the opinion of LenC~r operate to prevelll the enfor<-ement or the lien or forfeiture of the 'Property or
<br />any parI thereof; 01 Ie) maD secure from L'Ioe holder of such lien an agreement in a form satisfactory to Lender subordinating such lien ~o this
<br />Security Instrument,
<br />II Lender determines that all or any part or the Property is subject to a lien which may attain a priority over this Security Instrument, Lender
<br />sh&D Ii'" Borrower a notice identifying such lien, Borro,",er shall satisfy 'llIOh lien or talte one or mOle 01 tbe actions set forth above within ten
<br />da)-S of the giving of lhe notice.
<br />
<br />L
<br />
<br />(:. NOTICE
<br />tlftlfOlDl Cov",,","114 oCthe s..;unty Inslrument .. amended 10 read a, follow"
<br />
<br />l4. NlIIke, "'>.<q>/ COf any n<>It"'" required under applicable law 10 be gi,en in anOther man""l, (a) any ooli"e to Borrowet provide<llor in this
<br />Se.;s.ril, Ins"","""" >lIal1 be i""'fl by dellvering it "r by mailin, it by rorM das. mail 10 Borm...er at ,he ProperlY Addr.... Of at such oU.et addn...
<br />At BOffO""Cf mAY ~t( by nUt}.;.'(" 1.0 i.,,eru;kr 4:\ prQ\'idr:<i herein", and {(\J an)' nm.H;:e 10 Lender snaU be given by first class mali to Lenuer'~
<br />~a4 Sia&N buti.n Of to 101J~ oth<:r Jlddr~ a... t~ may UeW.lmttc: by notk>-e to 8oHowtr ~s pro\'tded h<<CHL Auy nohi.'C pn_1.."ldeJ for in lhli
<br />Sb;:-u:nt~ tn;'\.t.fumc-n! lhalj be dn!m<<J 10 na\;t been Si\'<t_H to BortO*t:r 0:- L~Jd-er ""hen ,~\'rn itl !hc ma.mier dcsijJnal<u hr-rc-in
<br />
|