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F- 7 ADJUSTABLE RATE RIDER 0 Year Treasury IrWex -Rate Caps) 89--l-0039 THIS ADJUSTABLE RATE RIDER is made this 13 day of January 19 9y and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust. or Security Dead (the " Securlty Instrument ") of the same date given by tho undersigned (the "Borrower ") to secure Borrower's Adjustable Rate Note (the "Note ") to" E FEDEIIAL JMN21h i LOAN A3$OCIATION OF DRANO ISLAND, NElIRASKA (the "Lender ") of the saute date and covering the property described in the Security Instrument and located at: 2307 Woat oenig. Grand Island, Nebraska 68803 (Property Address) This sNa cdatalaa provldaas aillowlel for chsaga Is ray Iskmat rata sal tap MGW* paYmna. TNa state else Wale The ataoaat say ialerest rage cam chimp at say oat dme saw also the sdshtss act the amrlrsism nk t out pay. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument. Borrower and Lender flsrther covenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of 12.0 iii. Section 4 of the Note provides for changes in the interest rate and the monthly payments, as follows: 4. INTEREST RATE AND M0IYTHLY PAYMENT CHANGES (A) Chop Data The intcrzt rate I wilt pay may change on the ftrat day of February .19 90 , and an that day evrcri 1:wt#7.aa months thereafter. Each date on which my interest rate could ebattge Ls called a "Change Date." (a) The IWkz Beginning with the first Change Date, my interest rate will be based on as index. The is rbe weekly average yield on United States Treasury securities adjusted to a constant maturity of 1 yelp, as made available by the Ids. Feral Reserve Board. The moat recent Index figure available as of the date 43 days before each Change Dateis ct: W the "Current tndea.'" If the Index is no longer available, the Note Holder will choose a mw index wt.4 3• is baseA upon comparable information. The Note f Holder will give me notice of this choice. (C) Cdcakdoa of Co amen " Before each Change Date, the Note Holder will calmlarAmy new interest rate bi' three & onelhalf peoamta�ga : ti points ( a S S) to the Current Index and roundint to the nearest I /8th of 1%. subject to the limits uated in .Rmd - Ibis rounded amount will be my new interest rate until the next Change ]Dote. _ 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) LWb oa INereat Rate Cbasga The interest rate I am required to pay at the first Change Date will not be greater, Urge 14.0 or less than 10,0 %. Thereaftff. my interest rate will never be increased or decreased on any single Chi Dite by more than two SIP -rat 02.94 from the rate of interest I have been paying for the preceding twelve months -The minimum Interest raft ion this loan will never be less than 9.0 sRe and the maximum interest rate will never be greater than 16.0 i.%. (E) Effective Desk of Chasten My new Werest rate will become effective on 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. M Notdee et Cliii"a The Note Holder will mail or deliver to me a notice before each Change Date. The notice will advise me of: '(f) the new interest rate on my loan as of the Change Date; " (i.0 the amount of my monthly payment following the Chanat Date; i (w-) any additional matters which the Note Holder is required to-d:sclose; and (iv) the address of the association you could contact regarding any questions about the adjustment notice. B. CMRGIt,%, LIENS Unifotimu.Ctivima nt 4 of the Security Instrument is amended to read as follows: • 4. Charge; Lear. Borrowershxii pay all taxes, assessments, and other charges. rimes,. and impositions attributable to the Property which may . attain a Priority "OvEr this Seatct'tg:Imtrument, and leasehold payments of gromad..cents, if any, in the manner provided under paraFapb 2 hereof or, if not paid im such manner, by Borrower making payment, when due, direct to themee thereof. Borrower shall promptly frttrriisit Lender all notices of at aimts due under this paragraph, and in the event Borrower shW make payment directly. Borrower shall prornky fiii It to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument; -however, Borrower shat} lust be required to discharge any such lien so long as Borrower: (a) shall agree in writing to the payment of the obGsation secured by suchlien in the manner acceptable to Lender; (b) shall in good faith contest such lien by, or defend against enforcement of such lien in, legal proceedings which in the opinion of lender operate to prevent the enforcement of the lien or forfeiture of the Property or any - part thereof; or (c) shall secure from the holder of such lien an agreement in a form satisfactory to Lender subordinating such lien to this Security Instrument. If Lender determines that all or any part of the Property is subject to a lien which may attain a priority over this Security 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 within ten days of the giving of the notice. L. C 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 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 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 rot in this Security instrument shall he deemed to have been given to Borrower or Lender when given to the manner designated herein.