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200000550 � ,�,� .� � . Loan Number: 8135015389 ADJUSTABLE RATE RIDER (libor index-rate caps) THIS ADNSTABLE RATE RIDER is made this 13th day of Januarv 2000 , and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed(the "Security Instrument") of the same date given by the undersigned(the "Borrower")to secure Borrower's Adjustable Rate Note(the"Note")to EquiCredit (the "Lender")of the same date and covering the property described in the Security Instrument and located at: 2422 NORTH TAYLOR Grand Island.NE 68803 (Property Address) THE NOTE CONTAINS P1tOVISIONS ALLOWING FOR CHANGES IN THE INTEIFEST RATE AND THE MONTHLY PAYMENT. THE NOTE LIlVIITS THE AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY TII4IIE AND TI� MAXIMUM RATE THE BORROWER MUST PAY. Additional Covenants. In addition to the covenants and agreements made in the SecuriTy Instrument, Borrower and Lender further covenant and agree as follows: A. INTEREST RATE AND MONTHI.Y PAYMENT CHANGES The Note provides for an initial interest rate of 7.900 %. The Note provides for changes in the interest rate and the monthly payments,as follows: 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates T'he interest rate I will pay may change on the first day of February, 2002 ,and on that day every six months thereafter. Each date on which my interest rate could change is called a"Change Date." (B) The Index Beguuiing with the first Change Date,my interest rate will be based on an Index. The"Index"is the London InterBank Offered Rate for dollaz deposits having a maturity of six months("LIBOR")as reported in the Wall Street Journal published in Orlando,Florida. T'he most recent Index figure available as of the 15th day of the month or next business day thereafter of the month which is two months prior to the change date is called the"Current Index." If the Index is no longer available, the Note Holder will choose a new index that is based upon comparable infonnation. T'he Note Holder will give me notice of this choice. (C) Calculation of Changes Before each Change Date,the Note Holder will calculate my new interest rate by adding FIVE & 15/100 percentage points( 5.150 %)to tlte Current Index. The Note Holder will then round the result of this addition to the nearest one-eighth of one percentage point(0.125%). Subject to the limits stated in Section 4(D) below, this rounded amount will be my new interest rate until the next Change Date. The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that I am expected to owe at the Change Date in full on the maturity date at my new interest rate in substantially equal payments. The result of this calculation will be the new amount of my monthly payment. (D) Limits on Interest Rate Changes The interest rate I am required to pay at the first Change Date will not be greater than 10.900 % or less than 7.900 %. T'hereafter,my interest rate will never be increased or decreased on any single Change Date by more than one percentage point(1.00%)from the rate of interest I have been paying for the preceding six months. My interest rate will never be greater than 18.250 % nor less than the initial rate. Fonn#519(10/96) Page 1 of 2