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<br /> � . .OJ[JSTABLE 1tA'D'E RID�b ��.,,�Q O O��
<br /> , (l Ycar 1'rcasurv Indcr-Rutc Caps1
<br /> rH15 AU�U31'AHL E liA1'E RIl�EIi is made this �8 day of __�ecember ��Q 89
<br /> �
<br /> � uad is incarparated lnto and shall be Qeemed ta umead :and supplement the Martga�e, Deed oi T�uu. or Security Reed (the "Securlty
<br /> Inatrumcnt")�i thc saa�e datc aiti•en b}thc undcrsi�ned(thc•'Harrawcr")to sccure Uorrowcr's AdJustable ftate Note(ihe"Notc")to HOME
<br /> � �EDERAL 9AVINaS i LOAN ASSOCIATION OF ORAND ISLAND, NEBRASKA(the "Lender")of ihe same data and coveriny the
<br /> � properry aescnbM in tne�ecuruy I�strument anQ lac�ted at:
<br /> 2106 W. Circle �rive. Grand Island, Ne 68801
<br /> � (Propeny Address)
<br /> � TMh �ote cost�tas provislo�s allo�rl� tor c���te� tn ioy laurest rnte and my monWry
<br /> p�ynle�b.T�ts eote dso Ilmit�tMe as�oual my leterat rate can cAa��e at asy oae time aad �
<br /> aho tk siNs��e A�d I�e mutn�de nte 1 mrst pay.
<br /> ADDITIONAL GOVfiNANTS. In addition ta ihe covcnants and agraments made ln the Se�;urity Instrument,Borrower and Lender
<br /> � ftuther covenant and agra as follows:
<br /> A. INTERFST MTE AND MONTNLY PAYMENT CHANGES
<br /> The Note provides for an inEtinl interest rate of �� •0 �'o. Section 4 of the Nate provides for changcs in the interest rate and the
<br /> monthly payments,as follows:
<br /> I
<br /> � 1. lNTEREST RA7'E AND bfONTHL Y PA YbfENT CHA/YGES
<br /> tA) Cdq�DRta
<br /> The interest rate 1 will pay may change on the first day of February ,�g g� ,and on that day every
<br /> +I�IP�vP months thereaf[er.Fach date on which my interest rate could change is called a"Change Date."
<br /> � , (B) 'i1e i�dex
<br /> Beginaing with the first Change Date.my interest rate will be based on an lndea.The'•Index"is the weekly average yield on United Stata
<br /> Treasury securitles adjusted to a constant mamrity of 1 year,as made avaitable by the Federal Reserve Board.The most recent Index figure
<br /> ava�lable as of the date 45 days before each Change Date is called the"Cunent index." ; '��
<br /> If the Indes is no tonger available,the Note Holder will chaose a new index which is based upon comparable information. The Note
<br /> i ;
<br /> � Holder will give me notia of this choice. ; �;
<br /> i (� Glat�tlo�ot C�es � '`�
<br /> Before atch Change Date.the Note Holder will calculate my new interest rate by adding three anci orw tsa 1 f peccentag� ;.� '
<br /> � polnts( 2 � qe)to the CurreRt lndea and rounding to the nearat!/Sih of l!'o,snbJsct to the l9mits ststed ia Section 4(D)be2ow. � -
<br /> � This rounded amount will be my new interat rate until the ncxt Change Date. .t�—
<br /> The Nate Holder will then determine the amount of the monthly payment that would be sufficient to repay in fuA the principal I am s••
<br /> — ---— : . eapected to owe on thai Change Date in substantially equal paymenu by the maturily date at my new interat rate.The rault of this calculation -'-
<br /> will be the new amount of my monthly payment. =
<br /> (D) Urib o�Intercst Rate C6anEa �
<br /> The interai rate 1 am required to pay at the first Change Datc will not be greater than 13.0 % or less than ��
<br /> � 9.0 ne.Thereafter,my interest rate will never be increased or decreased on any single Change Date by more than tW0 pereent
<br /> � ' ��.�� from the rste of interest 1 have been payiag ior the preccding twclve mortths.The minimum interest rate on this laan will never be
<br /> less than Q_0 hi and the maximum interest rate will nevcr be greater than 16.� %.
<br /> � (E) Eifective Date of Ch�eses
<br /> My new interest rate will become effective on each Change Date.I will pay the amount oP my new monthly payment beginning on the first
<br /> ' monthly payment date after the Change Date until thc amaunt of my morthly payment changes again. �
<br /> (E1 Notice of Chaesea `-"i°"
<br /> The Note Holder will madl or deliver to me a notice before each CSange Date.The notice will ad�ise me of: • ��
<br /> (i) the new interest rate on my loan as of the Change Date; '�';;
<br /> (ii) the amount of my monthly payment following the Change Date: �
<br /> (iii) any additional matters which the Note Holder is required to disclose;and __,.
<br /> (iv) the addras of the associalion you could contact regarding any questions about the adjustmeni notice.
<br /> B. CHARGFS: LIENS
<br /> Unifonn Covcnant 4 of the Security lastrum�nt is amended to rrad as follows:
<br /> � 1. CMsr�es;I.ie�s.Bonower shall pay all taxa,aasessments,and other charges,fines,and impositions attributable to the Property which may
<br /> aitain a priority over this Security Instrument,and leasehold payments of ground rents,if any,in the manner provided under paragraph 2 hereof
<br /> or,if not paid in such manner.by Borrower making payment.when due,directly to the payee thereof.�onowcr shall promptly fumish Lender
<br /> all notices of amounts due under this paragraph,and in the event 8orrower shall make payment directly,Borrower shall promptly furnish to
<br /> Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority oser this Serurity lnstrument;
<br /> however, Borrower shall not be required to discharge any such lien so long as Borrower: (a) shall agree in µriting te the payment of the
<br /> obligatlan secured by such lien in the manner acceptable to Lender,lb)shall in good faith contest such licn by.or defend against en(orcement of ,_--_---=-__-
<br /> such�ien in,legal proceedings whish in the opinion of Lender operate to prevent the enforcement of the lien or forfeiture of the Property or any �
<br /> part thereof:or�c)shall secure from the holder o:such lien an agreement in a form satisfactory to Lender subordinating such lien to this .
<br />- Security Instrument. •
<br /> If Lertder determines that al!or any pan af the Property is subject to a lien which may attain a priori�y over this Security Instrument, �
<br /> Lender shall give Borrawer a notice identifying such lien. Borrower shall catisfy such Iien or take nne or more of the actions set forth above
<br /> witfiin ttn days of the geving vf the notice. �
<br /> L �. ���t:
<br /> Unifurm Cbvenan!14 of the Securiry Instroment is:�mendeJ to reaJ ac follnati: �
<br /> EI. Votke.f�+ccept for any n��tiic reyu�rcJ under appiicablc law to bc�.nen in anothcr manner,1a1 am•nourc to Burre���cr nrutii�lcJ toi in th�� �
<br /> tic�untv{mtrumrnt�hall hc k��cn h�dclivrnng�i nr hy mailu��;rt hv frt�t ila+�mtul(o Nnrrr.��er at thc 1't���+crr� Addrr�•.��r.il �u�h uihcr addre.ti �
<br /> :�+(kur.�uer �nay detip,u:�te h� nesuic I�r(rhder :it pri,.��rJ l�rrcin,an�t Ihl�ny nc+!s,c��,I cndrr .h.ill he}tncn I.i 1i�tii �Li..m.nl i�, I rnJer'� i• 4
<br /> adJrt.�tir�tc�l hrrein��r t��w:h iqhrr adJrc��nc 1 tndct mav t1e,�wn�uc t�v nnti�r t:�li��ttn.��•t.r.�,i�,�rd���f I.r���ro \rn r�,�i.� ��r����.I .1 ',�i �n iti�.
<br /> �1UT11�lnctru�uc�rt 1h.�11��r•1�a�ncc11��h��c h�.i.r�r��ri�t�,{Son ua����,r{ ���d:i .+.Prt�r�,ci•in rhr tn.tni�r•,��-.�����.�!i•1 I�rir�„ .
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