96104170 - Laserfiche WebLink

Browse

�� , ...:.,--.,....—<...,_.,.....�._.,�.-� - - - -- - j.,�.� .��,..'.,.•�»,�w,,...,,- � �- �--- •� ....�.-__.�_...�, . � _ �:} ,. ., �.:r;`�:�r��:.,°_.�i�i�.io�pRm.,:.,. ... - ^ , ..... .o..�...........i�... r a�t'�l _ ......*`[a�u.sk�r'��.:m�v_-. ;:.n...:.�-�.nNr7Yl�au6a;._.._..,�-..��'-.' � .. - - ,-- - � - - — _ ---__.....____.---.__---- .. __ "'�` _'v'^ ' _ - _ ' ._�:.. . .. .... . . �. v_�.._n __ _. — � ___-'_ —' a��..�-�.�.....a..�-.-...�r� _�.,...r�.....�.'�.�.�..-----. .�._. "".._""_ '""_�.�._"'_ . ..�n__ .. . ...�" "' _"" ' .�c"— . .__e—_��--�_. ..._""ww•w+��... . . ..�.. .......,... . a �� s�� �� T.. ' AAJUSTA�I3LF RA'�E �IDF•R �-" (1 Yeor Trewsurylndcx-It�te Capa•Fixed Rata Co��vereton Optlon) LOAN NUMBSB:846049! 3401T619a 761 �ria�R�:�wT�o�o osTU c�nAO �.m��thla 29'PH day ot MAY. 199�i,and is incorporatcd into and shal!bc � decmed to amend and supplemcnt the Mortgage. Deed of Truat or Security ueed(the"SeCU[iiy Iusiiui�ioilt"j of the s�m� � date given by the underalgned (the "Borrower') to sccure Rorrowes's AdJustable Ratc Note (thc "Note") to PHH MORTC3A()E SERVICiS CORPORATION(tlie°I.ender") of the same date and covering tbe property described in the Security Instrument and located at: • 4264 UTAH AVENUE(3RAND ISLAND NE�8803 (Properry Addrn�] � THE NO'PE CON7'AIN9 PROYISIONS ALYAWING F'OR CHANGES IN THE Il'�'d'ERES'I'RA'PE AND TH�MQNTHI.Y PAYMEPfI'. Ti�IE NOTE I.IMITS '1'Ht: AM17uuiv'e' 'en�nvicnfivdEii'� - ADJUSTA�L6INTE�tES'P RATE CAN CHANGE AT M1Y ONE TIM�AND THE MAXII�iUM iRATE T'tiE B�a'iRtDWEY3 1i,'i�JSf PAY. T'HE Id�'II'E AE1SU �UUPI'E'P�1VS 7'6�: OPTIOIV TO CONVERT THE ADJUSTABLE Ril'I'E TO A FIXEID�tATE. ADDITIONAL COVENANI'S. Ia addition to thc covenanta and ageeements rnade{n thc Security Instrumcnt,Borrower and Lender funher coveNnt and agree ne follows: A. �D�JpSTABLE E�ATE AND MONT�ILY PAYMENT CHANGFS The Nou provide�for an inid4l interest rat�of 5.625Q09�.The Note provides for changos ia the edjustable interest rato ancl the monthly paymanu,a�s follows: 4. AWUSI'ABLE INIEREST MTE A1VD MONTHLY PAYMENT CHANGFS (A) C�11$!DYt!! • � ��^ o nv n T7 T Tne adjusia'vie inicriii iwte I�:1�Yay ��o�r ;�swi3$L II:2 St.°.:r_L�.., f__NR, 1997; and on that day every 12t1i month thereafter.Each date on which niy edjustabla intetest rate conld change ts called a"�".hange Aate." (B) The Index Seginning wlth the first Change Date. my adjustable interest rate will be based on an Index.Tl�e"Index" is thc weckly average yield on Unitcd States Treuucy;ecuddee adjusted to a canstant maturiry of i year,as made aveilable by the Pederal Reservc Board,The most reant Index figure available as of the date 45 days beforc each Change Dau is called the "CLrrent Index." If the lnd�a is no langer nvail�ble,the Note Holder will choosc a ncw index ahtch is based upon comparable informadon. The Note Holder will give me notice of this choice. (� C�IculaYion of Ch�nga Before c�ch Changc Dste, the Note Holder will calculate my ncw intcrest rau by addin� 2.75000 percentxge points ( 2.7500096)to the C�rcent index. The Note Holdar wlll then round tNe result of this addidon to the nearest one-etghth of ona percentage polnt(O.12S%). Subjact to the limits in Section 4(n)below,this rounded amount will be my new inurest r�te undl the neat Change Dau. The l�Tote Fiolder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that i am expect�d to owe at the Change Dau in full on tlie maturiry date at my ncw interest rate in substandally equal paymena.The result of�hts c¢lculadon will be the new amou�it of my monthly payrr.ent. (D) Umlt�on Ialere�t Itete Ci�engea The interest rnte I�m required to pay etthe first Change Date wUl net be greater thun 7.6250096 or♦less than 3.62500%. Thereaikr, my adJusta6k interest tar.e wiil never be increasea or decrea�cu on any �iu�i� C��:.-�g4 BZLM!�y marc u§�n txo porceatage paints(2.096)from thc rau of interest I have been psying for the preccding 12 months.My tnterest rau wii!ncver be grcator than 11.6250094,whtch is called dse'Maxtmum Rate". (E) E�feeNve Drte ot Change� My new interest cate will lxcome effective on eacu Cliange Date. 1 wlll pay the amount af my new monthty payment beginning on thc first inontlily payment date efter thc Change Aate undl the amount of my monthly payment changes again. (� Notice ot Chat�ycs � � Tha Notc Holder wlll deliver or ma3i to me a noticc of nny clianges in my nc�jt►stable interest ratc and the amonnt of my monthly paymcnt befoie tht effective dnte of any change.The norice will include informadon required by law to be givcn me and also tU�title and[elephone number of a person who wlll answer any question I may'have regarding the notice. � B. FIXED iN'1'EItE,ST�tA'['E OPTION — Ths Note provides for the Horrowcr's option to convert from an adjustabtc interest rate with interest tata lim�'e to:��jxcd ° interest rate,as follows: 5. FIXED[N'I'�ItFSi'IUTE CONVERSION OP'CION (A) Opttan to Convert 4o Fixed Rete ::� I have a Conversian Opdon that I can cxercise unless 1 am in default or thc Secdon 5(A)will not permit me to do so.Tlic .`.� "Conversion Option" is nxy option to convert the interest rate I am required ta pay by tliis Note from an adjustable rate with — interest ratc Iimits to dio fixed rate calcutaud under Sccrion 5(B)be(ow. = The conversion can only take place on a date(s) specificd by the Note Holder during d�e period beginning m�the first = Change Uate and ending on the fifth Changc Dato.Each date on wl�ich my adjustable interast rate can convert to the uew Gxed : ratc is callcd thc"Convtrsion Date." �.� If I want tu excrcise thc Conversion Opdon,C must fitst meet certain conditions.Those conditiou sre d�at:(i)I must givc � the Note Holder notice�hnt I want to do so;(ii) on the Converslon Date. I must not be in defnult under the Note or dic Sccurity - Instrument;(iIi)by a date specificd by the Note Holder,L must pay che Note Holdcr a Cunversion tee of U.S., 50.00;and(iv)I = nwst slgn and glve dic Note Hnldet any documcnts dtc Nate Holder rcyuires to effr.ct the converston. 5� ; �y� '— M1fULff!'STA'Ri AU�[i1STABIB RA'18 IPIDER-AIN1 f'lAN 57{Sin�le Famlly)•N�ndehLe Unitorm In�trumml Fo��i�812/b?:•:. - lfURv.N11R0101 ��.� ......... . d .� _. . ._ .. _ . .. . .