|
<br />ADJUSTABLE RATE RIDER
<br />
<br />84 - 006197
<br />
<br />r
<br />
<br />THISADJUSFABLERATBRlDERismadetms 27th dayof NOHP.lIlber ,19.BlL.,.,
<br />and is incorporated into and shall tx deemed to amend and supplement tbe Mortgage, Deed of Trust, or Deed to Secure Debt (tbe "seamty.
<br />!:r..!tra~'Jof@..e-~-date ~ by-the un~-3--ned (the ".Borrow~") to ~~ BorrowerJ-s _Mjustab~' Rate.Noleto HOIIEG--J:EOERA~-'"
<br />SAVJNGS& LOAN. ASSOCIATION OF GRAND ISLAND, NEBRASKA (the "L..-nder") oftbewneaate(tbe"Note."}
<br />and covering the property described in tbe Security Instrument and located at:
<br />
<br />710 West 12th Street, Grand Island, Nebraska 58801
<br />(Property Address)
<br />
<br />The Note COlI..... promlOllS aIIowIDI fM'chluIIes In the .Intere!l. nle, If the interest..te.
<br />!lx._, tbe Borro......s mmttldy pa)'1lll9ltl.wlll be bigber. Iftbe hlterestn. ~.tbe
<br />Borrower'slllOftlhly pay_Is ..;nile iower,
<br />
<br />
<br />ADDITIONAL COVENANTS, In addition to the covenant and agreements made in the Security I~t. BorroweNmd'Under,'
<br />
<br />(B) -0.1__
<br />Beginning with the rust Change Date, my interest rate will be based on an "Index," The index is the weekly average yield on United States
<br />Treasury securities adjusted to a constant maturity of one years, as made available by the Federal Reserve Board. The most
<br />recent Index figure available as of 4S deys before each Change Date is called tbe "Current Index."
<br />If tbe 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 choke.
<br />
<br />
<br />furHlet co;-enant and agree as follows:
<br />
<br />A. INTEREST RATE AND MONTHLY PAYMENT CHANGES
<br />The Note provides for an initial interest rate of 12.5 %. Section 4 of tbe Note provides forchanges m the inl:erestraielind'flie:>
<br />monlbly payments, as follows:
<br />
<br />4.
<br />
<br />(C) CaIClIIldloa of CItaDIes
<br />llefore each Change Date, the Note Holder wiJi calculate my new interest rate by adding three percentagC points"
<br />( 3 .0 "I.) to the Current Index. and rounding to the nearest 1/8%" The sum will he my new interest rate. The minimum interest rate
<br />on this loan will be no !eM than 10 . 0 %, The maximum illler..t rate on tbi, loan will be no more"than 1 7 . 0 'I'e,
<br />The Note Holder will then determim: the lUlIOunt of the monlbly paymellt that would be sufficient to repay in full the principal lam
<br />expected to owe on the Chanse- Date in substan~iaI1y equal payments by the maturity date at my new interes~ .ate, The result of tltis <:aIeuIalloll
<br />will be the new amount of my monthly payment.
<br />
<br />(0) EffO!dlft Date of C'IJaqeo
<br />My new interest rate will berome effective on each Cbange Date, I will pay tbe amount of my new monthly payment beginning on the flnt
<br />monthly paymenr ~te ~fter the Change .Date ;.mtil tht cuuount of i'I)Y monthiy payment changes .again.
<br />
<br />(E) NotIc8ofCllaDces
<br />The Note Holder will mail or deliver to me a notice before each Cbange Dale, The notice will advise me of:
<br />(i) the new inten:st rate on my loan as of tbe Change Date:
<br />(il) the amount of my monthly payment following tbe Change Date:
<br />iui) allY ad<llUOnai malt.... whicb the Note Holder is required to disclose; and
<br />(h') lhe title and telephone number of a person who will answer any question I may have regarding tbe notice.
<br />
<br />B. CHARGES: LIENS
<br />Uniform Coveoant 4 of the Security Instrument is amended 10 tead as follows:
<br />
<br />4. CiIIups; LIeas. Borrower shall pay all taxes, assessments. and other charges, fines and impositions attributable to the ProJ)erty wbkh may
<br />atlain a priority """,.this Securi.ty Instrument. and leasehold payments of ground rents. if any, in the manner provided under paragraph Z hereof.
<br />Uf. if not ;>aid in such 1lWUl<!l'. by Borrower making payment, when due. directly to the payee thereof. Borrower .ball promptly fu."1ll.th to
<br />Lt'!l<kr all notia:s of amounts due under this paragraph. and in the event Borrower shall make payment directly, Borrower shall promptly
<br />funrish to tender receipto evidencing such payments, Borrower shall promptly discharge any lien which has priority over this Security
<br />I_t; however, Borrower shall not be reqUlfed to discharge any such lien so long as Borrower: (a) shall agree in writing to the payment of
<br />Ihe ohIi&lUion secured by such lien in a manner acceptable 10 Lender; (b I .hall in good faith contest such lien by, or defend against enforcement
<br />of such licft in. Iellalproccedlnas wbkh in the opinion of Lender operate to prevent the enforcement of tbe lien or forfeiture of tbe 'ProJ)erty or
<br />lUtl'. part therco(: or (().l<.1llI secure from tbe holder of such lien an agreement in a form satisfactory to Lender s"bordinating such lien to tbis
<br />Secwlly l..str_t.
<br />If Let)der det<<miIle$ tbat ail or lUll' part of the Property is SUbject 10 a lien ..hie-II may attain a priority over this Security In.trument, Lender
<br />,hail Illve ~ a nl>li<;c idemlfying such lien.. Borrower shall "'t!sfy .uch liti'l OI lake 011<0 or more of tbe !lclions ""t forth above within ten
<br />dara of the &i\'ina of the notia:"
<br />
<br />C. .N011CI:
<br />Unit_ C_14o{ till:~ IMrummt is amended t<l r"adas foll<l.."
<br />
<br />}4. NelIiIie, E..._ f()tel' notl<<I req",rod IIDder appfu;ablelaw Ie he Ili~... inanotl\er manner, (a) any "OI.1~ to Borrower I'wmlcd for In tit..
<br />~rJ.y I__t UtallhelPvcn by 1le1l-"" ,t '" bynW.iing it by flntd"''1HlllIii to Borrower It the l"ropmy Ad<ire>s 0. at ,uch oth... addI'ess
<br />.., lk>tr_ Jl>l<Y ~ by ootl.tc Ul Lender .", ~ herein, &n;;l (1:>) li1lY notia: to Ld>der shall be given by fint d.w mail Ie Lender',
<br />,h~1t~~.t~J ~~ ~'!' t~ ~-ef;~-~~.,,:!-_~ t~~ mtt,,,~:t by fl'"'-1~ h) ~o-~~l as P!"!)'\Ilrt<<t hr-f~'t1. An~- ;1Hl\-t;"(' (H'oVl:dtld fHt in this
<br />~~W'fl't tfutru~t '~l be ~tQ: ~~li ~ ;r.,.'ftt ~Q Sof'ftfW<< 01 l...el'i:tkf 'wMn iiYW IH l~ t~''1fter ..-k'u:anated h~fon,
<br />
|