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MAY 15 2001 15:32 FR EQUICREDIT 5152670995 TO 14024864949 P.11i17 200104739 Loan Number: 8145019470 ADJUSTABLE RATE RIDER (11bor Index - rate caps) THIS ADJUSTABLE RATE RIDER is made this 15th day of May 2001 . 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: ES{UICradit_ (the "Lender") of the same date and covering the property described in the Security Instrument and located at: 107 - Ill S. GRAND ISLAND, NE 68801 (Property Address) THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIA= THE AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY TIME AND THE 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 AMID MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of 11.140 %. The Note provides for changes in the interest rate and the monthly payments, as follows: (A) Change Dates The interest rate I will pay may change on the first day of Jane, 2004 , 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 Beginning with the fast Change Date, my interest'ratc will be based on an index. The "Index" is the London InterHank Offered Rate for dollar deposits having a maturity of six months ( "LIBOR ") as reported in the Wall Street Journal published in Orlando, Florida. The most recent Index figure available as' of the 1 Sth 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 information. The 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 sEvEN a asn oo percentage points (,1,$sfl_"/o) to the 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 data 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 14.140 °/" or less than 11.140 %. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than are percentage point (1.006) from the rate of interest I have been paying for the preceding six months. My interest rate will never be greater than 19-900210 nor less than the initial rate. (E) Effective Date of Changes My new interest rate will become effective an each Change Date. I will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again. (I+) Notice of Changes The Note Holder will deliver or mail to me a notice of any changes in my interest rate and the amount of my monthly payment before the effective date of any change. The notice will include information required by law to be given me and also the title and telephone number of a person who will answer any question I may have regarding the notice. Form #5 19 (06100) page 1 of 2