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r 89--t 100169 ADJUSTABLE RATE LOAN RIDER NOTICE: THE SECURITY INSTRUMENT SECURES A NOTE WMCH CON- TAINS A PROVISION ALLOWINGi FOR CHANGES IN THE INTEREST RATE. INCREASES IN THE INTEREST RATE WILL ADULT IN HIGHER PAYMENTS. DECREASES IN THE INTEREST RATE MAY RESULT IN LOWER PAYMENTS. This Rider is made this 6th day of January . 19 89 and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt (the "Security Instrument") of l;he -same data given by the undersigned ( the "Borrower ") to secure Borrower's Note to THE EQlItTABLEAt)1t t11, 0 AND LOAN ASSOCIATION OF GRAND ISLAND, NEBRASKA (the "Lender") of the sanw.eluto (the' "Nbtn") ayA.aaAmdng the property.-described in the Security Instrument and located at ,32 Kenna;dy lri= rc1414 G�fand Island, Nobraske 68801 PivpaTty Addtnss MODIFICA'T`IONS. -ti addition to th r wa 0uiinW- owl, agNernents matte iwth44kseurity Instrument, Borg ro wec and Lender further covenant-arid vt;�ii Ca . A. INTEREST RATE AND MONBHLT PAVANMNt CHANGES: The Note Ives an initial interest rat, 0, I.0 %. The Note provides for changes in the interest rate and the. monthly payme= as follows: 22 months from due date of first payment (it Hate Change Dates mutt Frequency Thereof: BeginningUMM . the rate of interest I must pay may change in the first ' day of the montbXXXXXxXxXXUxXXXW kx4*w CAMI tgWatasOlO, and on that day every twelve months thereafter. Each date on which the rate of interest could change is called a "Rate Change Date." 0' The Index: Any chapps in the rate of interest will be based on an Index. The "Index" is X the Monthly Avew4fe Yield on United States Treasury securities adjusted to a constant maturity of __ 6 months _.:.,fit: A year .,_-3 years 5 years as made available by the Federal Reserve Board. or ❑ the Na- tionaf; fgathlyr Kedian Cost of Funds (a mualized) to FSLIC Insured Savings and Loan Associations, as made available by the Federal Home Loan 13"k Board. (Check only one box.) Tie first Index figure for this Note is 8.09 °6: 4i is called the "Original Index. ' The most recently available Index figure as of 45 days before each Rate change 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 Holder will give me notice of this choice. (3) Calculation of Changes: Before each Change Date, the Note Holder will determine any -change in my rate of interest, The Note Holder will calculate my new interest rate by adding G� tentage p6h" ( —L0_%) to the Current Index and rounding the.- result to the nearest oneveighth of one percentage point (0 .125 %). This rounded amount will be the new rzte of interest I am required to pay. The maximum interest rate I will he require(i to pay on this loan will be no more than 14.0 %. The minimum interest rate I will be required to pay ion this loan will be no less than 9.0 %. The Note Holder will then determine the new amount of my monthly payment which would. be sufficient to repay the outstanding principal balance in full on the maturity date at my new rate of interest in substantially equal payments. The result of this calculatiop is called the "Full Payment" and will be the new amount of my monthly payment. 1✓TROVISION A(4) applicable only if this box is checked. (Q. Umit On interest Rate Ineresss: The rate of interest I am required to pay shall 'never"' be increased or decreased -on any single Rate Change Irate by more than 1.0 % from the rate of interest I hive been paying. (5) Effective Date of Changes: The new rate of interest will become effective on each Rafe Change Date. I will pay the new amount of my monthly payment each month beginning on the first montiUY"Payynent.&te after the Rate Change Date until the amount of my monthly payment is again changed. or, I,,hOve fully repaid the loan. (6) Notice of Changes: The Note.Holder a-M mail or deliver tome a notice of any changes Before each Rate Change Date. The Notice will advice. tae of the new interest rate on my loan. the amount of my new monthly payments, and any additional mattcn- .saMah.the Note Holder is required to disclose. ❑ Provisions AM. A(8), AM. and A7 1, applicable only if this box is checked. M Borrower's Right To Limit Monthly Payment: Unless Sections A(9) and A(10) below will not permit me to do so, I may choose to limit the amount of my new monthly payment following a Rate Change Date to the amount 1 have been paying multiplied by the number 1.075. This amount is called the "Limited Payment." If I choose a Limited Payment as my monthly payment, I must give the Note Holder notice that 1 :gym doing so at least 15 days before my first new monthly payment is due. f �1