|
<br />r
<br />QA_
<br />\J"'T'--~
<br />
<br />005698
<br />
<br />ADJUSTABLE RATE LOAN RIDER
<br />
<br />r
<br />
<br />NOTICE: THE SECURITY INSTRUMElIiTSECURES A NOTE WHICH CON.
<br />TAlNS A PROVISION ALLOWING FOR CHANGES IN THE INTEREST
<br />RATE. iNCREASES IN THE INTEREST RATE WILL RESULT.INWGHER
<br />PAYMENTS. DECREASES IN THE INTEREST RATE MAY RESULT IN
<br />LOWER PAYMEJIlTS.
<br />
<br />This Rider is made this -22nd.- day of ClM-nhAr, 19~ andisiiH:orponlted~and
<br />shall be deemed to amend and supplement the Mortgage. Deed of Trust. or Deed to SecureDebt(tful ~'SecuritY.. .
<br />Instrument'" of the same date given by the undersigned (the "Borrower>') tosecureBwrower'aNotllto''fflE'.
<br />EQUITABI..E BUILDING AND LOAN ASSOCIATION OF GRANO ISLAND. NESRASKA(the"Lende1-''lm.th&
<br />same date (the "Note'" and covering the property described in the Security Instnunentand loi:.lIte<<l",t
<br />210 N. Pi~r ie, r...,.,rl T"'l;url, 10m 6&lOl
<br />Property Address
<br />
<br />MODIFICATIONS. In addition to the convenants and agreements made in the Security IllStrument,Bor-
<br />rower an<1 Lender furtbm- COV".,1mt and a",nree as follows:
<br />A. INTEREST llA TE AND MUNTHL Y PAYMENT CHANGES:
<br />The Note has an initial interest rate of ~ %, The Note pr'Jvides for changes in the interest rate and the
<br />monthly payment as follows:
<br />
<br />
<br />rl
<br />-~fi
<br />.;p;
<br />"
<br />_, ~ -ib
<br />'-;..'~
<br />,.;
<br />.1
<br />'~I
<br />
<br />
<br />'_._~o:;:;:~;c~~
<br />'H2~
<br />\','
<br />)J.i
<br />" :':.~----~
<br />,':,t'
<br />o ,"~f}
<br />~;-
<br />
<br />m Rate Cb>mge DIl~ Ilnd Frequency T,,,!l'euf: Begh;.lillli;' in 19~ the rate of interest I lI1Il!ItpaYDlllY
<br />change in the _~__day of the month Nf"I\~r !Month After Closing Month},am:l(ll1
<br />that day every 12 months thereafter. Each date on which the rate of interest could change is ailled
<br />a "'Rate C'nange Date."
<br />(2) The Index: Any cbanges in the rate of interest will be based on an Index, Tb:" "Index" i!lXl the MonthIy
<br />Average Yield on United States Treasury securities adjusted to a constant mf1turity of _ 6 montha
<br />_lL...__l year .____.3 years . ___5 years as made available by tbe Federal Reserve Board. or 0 the Na-
<br />tional Monwv Median Cost of Funds (annualizedl to FSLIC Insured Savings and Loan Associations. as made
<br />available by the Ft><!l'ral Home Loan Bank Board. ICh",,'k only one box.!
<br />
<br />t;i'
<br />
<br />:.:-~
<br />
<br />{-
<br />
<br />, -~
<br />
<br />F.'
<br />
<br />The first Index figure for this Note is~, I t is called the "Original Index, .. The most recently available
<br />Index figure as of 45 days before each Rate change is callt><! the "Current Index,"
<br />
<br />If the Index is no longer a\-ailahlt>. the Note Holder will choose a new index which is based upon comparable
<br />information, The Note Holder will mVt. me notice of this choice.
<br />
<br />(31 Cakulation fir Chang"": Belore each Change Date. the Note Holder will determine any change in my
<br />rate of interest. The Note Holder wlll calculate my new interest rate by addiruz _._~2 oereentJute noints
<br />(-2-...%) tn the Current Index and rounding th~ result to the nearest one-eighth of~;~ percent&ge" point
<br />IO,125"H This rounded amount will be the new rate of interest I am required tn pay.
<br />
<br />The maxiraum interest rate I will I... required to pay on this loan will be no more than .~_ %, The
<br />minimunl interest rate I Will he n-quIN"d to pa~' on th!s loan win he no it~SS than n/-a,,_.__m_~'7t).
<br />
<br />The Not" Holder wIll then dNermine the new amount of my monthly payment which would be sufficient to
<br />rtlpay the outstanding principal baiant">' In full on the maturity date at my new rate of inlR.rest in substantially
<br />equal payments. The ft,sult of this cakulatiol1 is l'aUed the "Full Payment" and will be the new amount of my
<br />montbly paymenL
<br />
<br />PROVISION '\141 applicable only if this box is cht'Ckt><!,
<br />
<br />141 Urnit on Interf'fil Rat.. 1m,""""",: Thl' rate of ;r.terest I am r('tjuired to pay shall never be increased or
<br />di?cl~a.sOO uIi any singlE' Rat~ ('liangi'" Dat.i" by mUlE' than from the fat.e of interest I have bee-n paying.
<br />
<br />(51 ~;fft'('tiv.. Oat.. of Changes: The new rat., of Interest will become effective on eacb Rate Change Date, I
<br />will pay tbe new amount of my montl>Jy payment each month beginning on the first monthly payment date
<br />after th.. Rate Chan~ Date until the amount of my monthly payment is again changed, or I have fully repaid
<br />the loan.
<br />
<br />16I ~ of C~ The Note Hold~ will mail or deliver to me 8 notlet' of an)' changes before each Hate
<br />Change D&w. The Notire will advise me of the new interest rate on mv loan, the amount of mv nl'W monthlv
<br />paYTIlflnts, and any additional matters which the Not.e Hnlder is requ'ired to disdo...,.' ,
<br />
<br />Ptt,,,riSiODSl AnL l\~8\, ,,\(9;, and An 0) applii-:abl(\ only if this iw));. is ('hllt-'ked.
<br />
<br />L
<br />
<br />m 8ono...~'_ Rlth! To Limit Monthl,y Pllyment; 001."." Sections Ai9! and A!!OI below willll"t permit me
<br />l<) do 50. I mIIY choolll; wlimit t!le "mount of my new mcnthly payment followin!:: a Hat.. Chanll" Hal.. to th..
<br />amoont I hav.. boon payi~ multiplied by the number 1.lJ75c This IHnount i, call.>d lhl' ,cLirnitlxl Paymen!." If
<br />I "boo. /I Limiwd Payment a~ my monthly payment, I must. /:""" the 1Iinte 1I0lder 1I0liel' that I am dninl( so
<br />at !<!ast It; days belor;, my lirat Tiew monthly payment is due
<br />
|