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I ADJUSTABLE RATE RIDER 89-100163 (1Yew Treasury Index-Rate Caps) THIS ADJUSTABLE RATE RIDER is made this day of -- — ��411D�>f� Iq 89 , mW Is incorporated into and shall be deemed to amend and supplement the Mortgage. Deed of Truest. or Security Deed (the "Security lnpttumamt ") of the tame date given by the undm4ined(tiaa "Borraw -pr") to secure Boriowe's Adjustable Rate Note (the "Note") to MOMS E 11AL. SAVM N A LOM AtlADgB ION QF 21MID ISLAND. .NEBRASKA (the "Lender ") of the same date and covering the property eiractiisetl its else Security itatrutrment and lecattd at: 311 South Cake Grand Island, Nebraska (Property Address) ---- - - °_�' TV@ nett teatelaa pe Ids a aMawieg for ertirgat is my leterve nu MW say ma t pale nfl. This now on OWN the attaeeat my Islam rate trace ck"" at any aye time artier alas tM mhl"m am tM maiden; raft I mat pity. ADDITIONAL COVENANTS. In addition to the covenants and agxoemcnN sr.• sea c in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. INTEREST RATE AND MONTHLY PA"ClUNf CHANGES The Note provides for an initial interest rate of 13 -D sllr. Section 4 of the Note provides for changes in the interest rate and the monthly payments. a follows: 4. INTEREST RATE AND MONTHLY PA YMENT CHANGES (A) Change Daha The interest rate 1 will pay may change on the first day of February .19 90 . and on that day every twelve months thereafter. Each date on which my interest rate could change is called a "Change Dace.- - (B) Ttiel.+e: Beginning with the rest Change Date. my interest rate will be based on an Index. The "Index" is the weekly average yield on United States Treasury securities adjusted to a constant maturity of 1 year, as made available by the Federal Reserve Board. The most meat Index figure available as of the date 43 days before each Change Date is called the "Current Index." If the Index is no longer available, the Note Holder will choose a new Index which is based upon comparable information. The Note Hodder will give me notice of this choice. (L) Caleelatiiaa all Clangs Before each Change Date, the Note Holder will calculate my new interest rate by adding four pet tage and :�L::the r".. loti ir i r6, �-" IDQ in Svzdm 4 ) below. 4.9 r= tHi - 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 in full the principal I am expected to owe on that Change Date in substantially equal payments by the maturity date at my new interest rate. The result of this calculation will be the new amount of my monthly payment. (D) Lmlb oa Interest Rah C kfta The interest rate I am required to pay at the Srst Change Date will not be greater than 15.0 rqs or less than Rk. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than two 13ercent. from the rate of interest 1 have been paying for the preceding twelve months. The minimum interest rate on this loan will never be less than 9-171 % and the maximum interest rate will never be greater than 16.0 �. (E) Effective Date of Cknag n My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment b*nning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again. (F) NedwofClaagq • . The Note Hokiir will trail of deliver to me a notice before each Change Hate. The notice will advise me of: M the new interest rate on my loan as of the Change Date; (0) the amount of my monthly payment following the Change Date; ;slit (iti) any additional matters which the Note Holder is required to dudbw, and (W) the address of the association you cot:id contact regarding any questions about the adjustment notice. f3. CKMIGES; LENS Uniform; Covenant 4 of the Security Instrument is amended to read as follows: 4. Cimga; Late. Borrower shall pay all taxes, asses~mumts, and other charges, Flues, and impositions attributable to the Property which may attain apriority over this Security Instrument, and Triaging( paytrmeats of ground rents, if any, in the manner provided tender pariip 2 hereof or, if ea.paid in such manner, by Borrower makini pur=r Aftea. dire, directly to the payee thereof. Borrower shall prompdyf4r%i s Lender all nod= of amounts due under this paragraph, and fat the event Borrower shall make payment directly. Borrower shall promptly fuiyaislt to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Security Iniawnent; however. Borrower shall not be required to discharge any such lien so long as Borrower: (a) shall agree in writing to the payment or the obligation secured by such lien in the manner acceptable to Lender; (b) shall In good faith contest such lien by, or defend agdtWextforcement of _ such lien in, legal proceedings which in the opinion of Lender operate to present the enforcement of the lien or forfeiture of the Property or any T put thereof; or (c) shall secure from the holder of such lien an agramm in a form satisfactory to Lender subordinatittgj such lien to this Security Instrument. If Lender determines that all or any part of the Properly is subject to a lien which may attain a priority over this Secoty Instrument, Lender shall give Borrower a notice identifying such lien. Borrower shall satisfy such lien or take one or more of the actions. Set forth above t within ten days of the giving of the notice. LC. NOTICE Uniform Covenant 14 of the Security Instrument is amended to read as follows: 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 �rQ - -Wity Instrument shall be given by dclivcring it or by mailing it by first class mail to Borrower at the Property Address or at such other address ++�� 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 address stated herein or to such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided far in this Scturity Instrument shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.