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- � � ADJ'US�'A�I.E RATE 1�DE�'�Q 2 2� � (1 Year Treasurv Indea•Rate Caps) fiii5 AD3U5TAHLH RA�RiDER is madc this Ath aay uf Tan��ary ,�990 . and 'ts inrnrporated into nnd shall be dsemed to amend and suppiement �he i�ortga�e, Deed oP Trust, or Security Ueed (the "Se�urity . � lnstrument")of the eame date�vrn by the underoi�ned(the"6orrower")to securc Bortowee'a Adlustable Rate Note(the"Note")to HOMH FEOEIIAL SAViNQB i LOAN ASSOCtAT10N OF QAAND iStAND. NEQRASKA(ehc'•Lcndcc")oF thc same date and co�ering the prope�ty described in the SecuN►y Insuument and located�t: 34G1 Graham Avenue, Grand Island, NE 68803 (Property Address) TYV note cost�lm provWoa� �Ilow�in� to� cY��a le my interest nte �ad my moathly p�y�ae�ts.TMi��ote al�o U�aits tMe��aoa�t�ay I�terest t�te caw cMa��e�t��y oae ti�ae�ed al�o tre mldmum�ud the maxlmum nte 1 ma�t psy. ADDITIONAL COVENAM'S. In addition to the covenanes and agreements made in the Security l�strument,etonower ana ienuer funher covmant and aaree as foUows: A. 1NTF.RFST RA'DE AND MONTHLY PAYMENT CHANCFS The Note provldes for an initial interest rate of B•25 %.Section 4 of the Note provides for changes in the interest rate and the monthly payments,as foUows: �. IIVTEREST RAT6 AND MONTHL Y PA YMENT CNANGES (A) Cra�e Dates , The inter�stra�e I will pay may change on the�rst day af February �19 91 ,�d on that day every TwelVe 11�) months thereafter.F,ach date on which my lnterest rate could change is called a"Change Date." (s) T6ei�dex Beginning with the first Change Date,my interest rate will tre based on an lndex."I'Ae"Index"is the weekty average yteld on United�tates � 7teuury securitia adjusted to a canstant maturity of 1 year,as made available by the Federal Reserve Board. The most rocent Index figure available as of the date 45 days before each Change Date is called the•'Current Index." If the Iadex is no longer available,the Note Holder will choose a new index which is based upon comparabte information. The Nou . Holder will aive me nodce of this choice. � cc� c.t�+�.no■or cb:.� . Before each Change Date,the Note Holda will calculate my new 9nterest rate by adding tWO � one/half percentage � . • points( 2•�� hi)to the Cunent ladex and rounding to the nearest l/81h of 1�Ie.subject to the limits stated in Section 4(D)below. �_�•;-' = i mis rrnmdeo amaani wiii be my new interest rate unut�ne nexc c:nange uau. _.�. The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay in fulf the principal 1 am ` _ acpected to owe on that Change Date in substantiaUy equal payments by the maturity date at my new interat rate.The result of this calcularion ' will be the new amount of my monMty payment. = (D) Umid o■Iaterest Wte Chanja 10 25 ' The iaterest ra!e i am required to pay at the first Change Date wiU not be grrater than • % or 1 than ^� 6.25 e��,�ereafter,my interest rate wiU never be increased or decreased on any single Change Date by morethan tWO 2 DeTCent from the rate of inierest I havc been paying for the preceding twelve months.The minimum interest rate on this loan will never be less than_ 6.25 9�and the maximum interest rate will never be greater than 13.25 %, � (�7 Elfadrt Date ot CYaatcs �'` My new interest rau will become effective on each Change Date.I will pay the amount of my new monthly payment beginning on the Grst � monthly payment date after the Change I3ate until the amouat of my monthly payment changes again. � (F� NotloeotClutn`es �• The Note Hntder will mail or deliver to me a notice before each Change Date.The notice will adrise me of: '�= (i) the new interest rate on my loan as of the Change Date; ',�'�` ,: . (u) the amount of my monthly payment foUowing the Change llate; . (iii) any additional matters which the I�tote Holder is required to disclose;and (iv) the address of the assaciation you could comact regarding any questions about the adjustment notice. - H. CHARGFS;LIENS Uniform Covenant 4 of the Security Instrument is amended to read as follows: �. C6argm:I3ea�.Borrower shaii pay aii taxes,assessmentc,and other charges,fines,and'empositions atuibatable tu the Property which may attain a priority over this Security Instrument,and leasehold payments of ground rents,if any,in the manner provided under paragraph 2 hereof or,if not pAid in such manner.by Borrower making payment,when dne,directly to the payee thereof.Bonower shall promptly furnish Lender all notias of amounts due under this paragraph,and in the cwent Borrower shall make payment directly, Borrower shall promptly furnish to I.ender receipts evideneing sueh payments. Borrower shall prompdy discharge any lien w•hich has priority over this Security Instrument; hawever. Borrower shall aot be required to discharge any such lien so long as Borrower: (a)shall agrce in writing to the payment of the obligation secured by such lien in the manner acceptable to Lender;(b)shall in good faith contest such lien by,or defend against enforcement of such 6en in.legal proceedings which in the opinion of Lender operate to prevent the enforcement of the lien or forfeiture of the Propeny or any �"` _—_ part theroof;or(c)sj�'ll secure from the holder af such lien an agreement in a form satisfactory to I.ender subordinating such lien to this ' Security Instrnment. , If I.end=r determihes that all or any part of the Property is subject to a lien which may attain a priority over this Security Instrument, i Ltnder shall give Borrower u notice identifying such lien. Borrower shall satisfy such lien or take one or more af the actions set forth above within ten days of the giving af the notice. '�' LC. MOT[CE Unifotm Covenant 14 of the 5ecurity Instrument is amcndcd to rcad as follows: ' !�. Notke.Except tor any notice reyu�red under applieabie taw to be given m another manyier,(a)any notice to}3orroxer provided for in thic r�p' � Security Instrumcnt shall be grven by dehvcnng rt or by mailing it by(irst class ma�l to Aorrower at the Pr�pcny Addre«or ai wch��her addretis (!1 as borrowet may designate by no�ice tn Lender as prm�ided here�n,and(b)any noticc ro 1 ender tihall be K��rn hy t�r�i�la�ti�nad �� t cndcr'� �' address.tated herein or�o su�h uther addre«ati 1 Cnder�nay de��gnale hy ncrtice to f3�ttrower ati prutided herein Am n��u�r�a�+�idc�i nn �n ttu� �' '�� St�unty Inslrurnent shalt be deerned tu have been�i�en ru 13u�ruµcr nr 1 endcr u hen�t��cn in Ihe rnannet cl«ignaTr�l hercin �