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--I <br />AD iUSTAB E RATE RIDER g9-�- �. 0004 (� <br />V Year Trtosury In:kx•Rate Caps) <br />THIS ADJUSTABLE RATE RIL�FR to made This 2_ 5th day of i ove41er 88 <br />.19 , <br />atnd is Incorporated into and shall be dWnW to amend and stimlement the Mortgage. I)eetl of nt}tt, or St;curfty Deed (the "Security <br />[� <br />Itlstru nu t1of eht same dads givim by the undersignted (he "Norrower ") to secure Bnfrower's Adjustable RAW Note (the "Note ") to 1t <br />1 <br />_E <br />EMM RWMGfIi A L &%Q% &T_" OF GRAND MILAND NEORA,SKA (the "Lerner „) of the same date and covering the <br />propertydarcribed in the Security Instrument and IxetW at: <br />1116 South Vine, Grand Island, Nebraska 68801 <br />(Property Address) <br />Tote volts leer laude pravialeae aiowLtS ftsr elmur111sa Is sate htlarrtat rate Wd say eta WA*r <br />Wmats. Tab MM alas 111alb The attaMal 4 late t rate cant cManage at clay ore tittles offal <br />8109 Ille mialMte snot The um dwaar raft i mast pay. <br />ADDITIONAL COVENANTS. In addition to the covenants and agreements mate in the Security laswument. Borrower and Lender <br />further covenant and agree: as follows: <br />A. 1NTlf29917 RATE AND MONTHLY PAYhl[ENT CHANGES <br />The Now provides for an initial interest rate of t 1 - n lees, Secplq 4 of the Note provides for cleanses in the interest rM va tby . <br />monthly payments. as follows: <br />4. INTMEST Rot TE eLVfl MONTHL Y PAYMENT CHANGES <br />(A) tamMeDale4 , <br />The interest tote 1 wuhOks tray change on the first day of Decr etber 19 89 and on that day avd'!t ; : <br />12 .. <br />months thereafter. Each date on wbl.ch my ettt.w6 rate could change is called a "Change Date.” <br />(ig) TM latiea <br />BegionitN:tvith the first Change Date, my interest rate: wU bye based on an Indent. The "Indent" is the weekly average yield on Wtxd States <br />Treasury sectttitires adjusted to a constant maturity of l, Fev' , as made available by the Federal Reserve Board, The moat resat um5et figure . <br />available as afr tEtt date 43 dam before each Chatege lute isc eJed the "Current Index." <br />—_ <br />It the index is no longest available, the NOW Hatdw will choose a new index vrhich is based upon comparable information. The Note <br />Holder will give me notice of this choice. <br />i <br />(C) Caleakdon oftch ftes <br />eacb Change Date, the Note Holder will *cmtate my new interest rate byadd ing three b one —half percentage <br />�..j��_�•�_Before <br />YMYw1f �' r" %)to the Currttatt tiMtPf and tNtimi"M #A .L2 -.. .. _._.- <br />_ • - . w►a w tale routs ataeow iiu iioe:uva'al iee3ow. <br />This rounded amount will be my nee interest rate until the next Change Date. <br />- - <br />; <br />The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay In full the principal 1 am <br />expected to owe on that Change pate In substantially equal payments by the maturity date at my new interest rate. The result of Wicalculadon <br />_ <br />will be the new amount of my monthly payment. <br />(D) 1AWW as lakracriflo ecftuaages <br />The interest rate b stir required to pay at the fast Change Date will not be greater ftm 13.0 1Y os . than ' <br />.less <br />Thacafta. my interest rate will never be increased or decreased on any single Data by moos than i wC4' <br />from the tote of interest I have been paying for the preceding twelve months. The minimnm Inteaeu rate on this loen.iWA never be <br />less than 9.8 "lit and the maximum interest rate will never be greater than <br />(IO Effec&O Date acchanges <br />My new interest rate will become effective on each change Date. I will pay the amount of my new monthly payment beginning an the first <br />monthly payment date after tl;e Change Date until the amount of my monthly payment changes again., <br />(F' Nostke of Cbugps <br />` <br />Tlee Note Holder will mail or deliver tome a notice before each Change Date. The notice will advise me of: <br />01 the new interest rate on sty 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 address of the association you could contact regarding; any questions about the adjustment notige. <br />!. CHARGES; LIENS <br />Uniform Covenant 4 of the Security Instrument is amended to read as follows: <br />4. Chetanq L sm. Borrower shall pay all taxes, assessments. and other charges, fines, and impositions attributable to the Property which may <br />attain a priority over this Security instrument, and Itasdtdd payments of grouted rents. if any. in the manner provided under paragraph 2 hereof <br />Of. if not paid in such manner, by Borrower mailing payment. when due, directly to the payee thereof. Borrower shall promptly fwnish Lender <br />all notices of amounts due under this paragraph. and in the event Borrower shall matte payment directly, Borrower shall promptly furnish to <br />Lender receipts evidencing such payments. Borrower shW promptly discharge any lien which has priority ova this Security Instr+mestt; <br />however. Borrower shall not be required to discharge any such Hen so long as Borrower: (a) shall k6m, in writing to the payment of the <br />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 <br />such lien in, kad proceedings which in the opinion of lender operate to prevent the enforcement of the lien or forfeiture of the Property or any <br />f - -- <br />I <br />Pon thereof; or (c) shall secure from the holder of such Hen an agreement in a form satisfactory to Lender subordinating such Hen to this <br />Security instrument. <br />i <br />If Lender determines that all or any part of the Property is subject to a Hen which may attain a priority over this Security instrument. <br />I• <br />Lender shall give Borrower a notice identifying such Hen. Borrower shall satisfy such lien or take one or more of the actions set forth above <br />. ,.. <br />within ten days of the giving of the notice. <br />C. NOME <br />Uniform Covenant 14 of the Security instrument is amended to read as follows: <br />14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in this <br />Security instrument shall be given by delivering it or by mailing it by first class mail to borrower at the Property Address or at such other address <br />as Borrower may designate by notice to Lender as provided herein, and (b) any notice to Lender shall be given by first class mail to Lender's <br />,address stated herein or to such other address as Lender may designate by notice horror <br />a <br />to er as provided herein. Any notice provided for in this <br />Sccutity Instrument shall be deemed to have been given to Borrower or Lender when given to the manner designated herein. <br />