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ADJUSTABLE RATE RIDER 89� 100277
<br />(1 YMR Ttrem" It 614 —Rate Cap)
<br />1 THIS ADJUSTABLE RATE RIDER is made this A .. day of ..... AM ary 19 19.,,, and is
<br />incorporated into and shall be dtttrted to am- nd _ntd suppler ientte the Mortgage, of Trunt or Stcurity Deed ( the
<br />"Security Instrument ") of the same deate iatik y t aS er ig d (the aPoA wer i to sec re Borrower's Adjustable
<br />Rate Note (the "Note ") to....... 41: 1Y..... t. � ................. f:.,......:............AR....................,...................................................
<br />..
<br />.. ............ . ................. .................. I... ............. ... ........ (the "Lender ') of the same date and covering the property described In
<br />the Security Instrument and located at:
<br />. .............312..North..2nd�.. Dani,phan Nebraska „Ii88S2.. .................................................. ...............................
<br />IPooperty Address)
<br />THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE
<br />AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE AMOUNT THE BORROWER'S
<br />INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE THE 1 O&
<br />ROWER MUST PAY.
<br />ADDITIONAL C0vEN - i% %ms. in additj, )a, vz�.tibe covenants anal agreements made in the Security Wilrument.:Scc awer
<br />-Jmd Lender Nrther camffi nt and agree as f�`il its;
<br />.A. iNTEmr lIA,m.,AND MONTHLY PA,'�".�fSENT CHANCES
<br />The Note prav files for an initial interest rate of ... - ...... %. •ITNn Note provides for changes in the interest rsts. wnd the
<br />monthly yrftvas, as foatows:
<br />4. INTEREST RATE AND MONTHLY PAYMENT CHANCES
<br />(A) Change Dates
<br />The interest rue. B ?rill pay may change on the first day of .....F.P. l°? I'1(+ .: ::...:.:............. 19.20.... and on that day
<br />every 12th rlt*k6 tbnreafter. Each date on which my interest rate could- ebange is called a "Change Date."
<br />Beginning with the first Change Date. my interest rate will be based on an index. The "Index" is the weekly
<br />average yield on United States Treasury securities adjusted to a constant maturity of 1 year. as made available by the
<br />Federal Reserve Board. The most recent Indent figure available as of the date 45 days before each Change Date is called
<br />the "Current Index. ..40
<br />If the index is no longer available, the Note Holder will choose a new index which is based upon comparable
<br />information. The Note Holder will give me notice of this choice.
<br />(C) Cakulation of Changes
<br />Before each Change Date, the Note Holds will calculate my new interest rate by adding ....TWO and one
<br />..........
<br />,,,h dl,,,,,,,,,,,,,,,,,,,,,,,,, percentage points (....2 AQ....%) to the Current index. The Note Holder will then round the
<br />result of this addition to the nearest one - eighth of one percentage point (0.1250. Subject to the limits stated in Section
<br />4(D) below. this roundt.d amount will be my new interest rate until the next Change Date.
<br />The Note Holder will then determine the& amount of the monthly payment that would be sufficient to repay the
<br />unpaid principal that (.arts expected to owe at the Change Date in- full on the maturity date at my new interest. rate in s
<br />substantially equal payments. The result of this salculatiort will h6lite'riew amount of my monthly payment.
<br />I D ) Units o. * latetrest Rate Changes
<br />The interest rate I am required to pay at the first Chat ge Date will not be greater Ihan ... IU .??§........... % oriess than
<br />'Thereafter, my interest rate wfll� �i ver be increased or decreased on any single, Date by more
<br />........................ :.
<br />than two percentage poeaits (2.0%) from the ratc:gt interest 1 have been paying for the preceding twelve months. My
<br />interest rate will never, be: greater than ....�.sr .....°lo. f:.
<br />(E) Effective Date of Changes
<br />My, new interest rate will become effective on each Change Date. 1 will pay the amount of my new monthly payment
<br />beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes
<br />again.
<br />4F) Notice of Changes.
<br />The Note liolder will deliver or mail to me a notice of any changes in my interest rate and the amount of my monthly
<br />payment before the effective date of any change. The notice will include information required bylaw to be given me and
<br />also the title and telephone number of a person who will answer any question 1 may have regarding the notice.
<br />S. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST iN BORROWER
<br />Uniform Covenant 17 of the Security instrument is amended to read as follows:
<br />Trawler of the Property or a Benelieial Interest in Borrower. if all or any part of the Property or any interest in it is
<br />sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural.:- rerson) -
<br />without Lender's prior written consent. Lender may. at its option, require immediate payment in full of all sums.aecured •
<br />by this Security Instrument. Howevgr, this option shall not be exercised by Lender if exercise is prohibited by federal law
<br />as of the dace of this Security Instrument. Lender also shall not exercise this opticgi if. (a) Borrower causes to be
<br />submitted to Lender information itquired by Lender to evaluate the intended transferee "as if a new loan were being made
<br />''to the transferee: and., (b) Lender reasonably determines that Lender's security will not be impaired by the lows
<br />assumption and that the risk of a breach of any Covenant or agreement in this Security instrument is acceptable to
<br />1 Lender.
<br />"The Index figure available a,. of the date the initial interest rate was deg.rmined for this loan ►gas ......g:.�l..... o'u.
<br />o
<br />MULTISTATE AOJUSTASLE RATE RIDER —ARM 5.2 --:, / ; +. F !rr ,-- Fennle Mae Freddie Mac Uniform Instrurnent
<br />1A "• '71 18 •.'.
<br />Form 3111 3 85
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