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ADJUSTABLE RATE ODER 100574 (1 Year Treasury laiex -Rate Caps) 89...,. THIS ADJUSTABLE RATE RIDER is made this 31st dayof February 89 and Is Incorporated into and shall be deemed to amend and supplement the Mortgage; Deed of Trost, or Security Deed (the "secarhy 1 Instrutnetst'q of the same date givea by the undersigned (the "Borrower ") to secure Borrow'er's Adittistable Rat- Note (the "Note") to HOME LOAN ASSOCIATION OF GRAND ISLAND. NEBRASKA (the "Lender") of, the same date and covering the property described In the Security instrument and located ate 2011 -13 North Howard Avenue Gra Ale, (Property Address) 7% rate coattt a pro lalove allowing for ckamgca In uW Istereig rW anti my ismis ii)r Mttamts. This note also Units the amount my Interest rate dmra cliaW at arty. dtK tierce ataei Glen tie miaimon and the maximum rue 1 not pay. ADDITIONAL. COVENANTS. In addition to the covenants amd agreements made In the Seeurltr Instrument, Borrower and Lender further covenant and asre:e as follows: A. INTEREST RATE AND MO'N'i' y PAYNIE YT CMNOES The Note provides for an nrraU imerect race of 9.25 aFo monthly payments, as follows: Section 4 of the Note pt»vicfi i fQr elr:nsea in the interest rate and the 4. !MEREST RATE AND MONTHL Y PAYMENT CHANGES (A) Ckur Data ?!tee later t rate I will pay !tray cNitge on the sfiat day of - February ,19 90 , and on that day every tae l ere months thereafter. Each date on which my interest rate could change is called 4 "Change Date." (7) Tiatadex Beginning with the first Change Date, my interest rate will be based on an Index. The "Index" ii'tbe weekly average yield on United States Treasury securities adjusted to a constant maturity of 1 year, as made available bx ftn- Federal. itmme Board. The most recent Index figure available as of the date 45 days before each Change Date is called the "Current Index "' If the Index Is tto lottgex available, the Note Holder will choose a new in is 'wMch is rased upon comparable information. The Note q:— Holder will give me notice of this choice. (C) Cde"I"n of C)ltrpgea Before escb Cltanae I]tte. the Nate hicslrirr 4prlt, aoavt, ' ' i t —percentage' - - points t 2.5 - %) to the Current Index and rounding to the-nearest 1 /8th of I% subjta.,to the limits stated In Suction 4(D) below. This rounded remount will be my new interest rate unto the next Chattge0gte. The Note Holder wig then determine the amount: of tine, monthly; p..pasest tb at would be sufficient to repay in full the principal I am expected to owe on that Change Date in substantially equal payments by et c maturit} date at my nevr interest rate. The result of this calculation will be the new amount of my monthly payment. (1D) Uldtm era Interest Rase Ciaages The interest rate I am required to pay at the first Change Date will acct be greater than _ 11 .25 R or less tia46 . 7.25 %. Thereafter, my interest rate will never lie increased or decreased urt.any singlerChange Date by more than } n.tn • ryA :rr`af from the rate of interest I have been p&)fnX for the preceding twelve months. The minimum interest rate on this loan will never be leas than 7.0 " % and the maximum interest rate will never bc-greater than (E) FlIktive Date of Chan" My new interest rate will become effective on each Change Date. I will pay the amount of my "taw monthly payment beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again. (F') Notice of Ciaag¢s tom" The Note Holder will mail or deliver to me a notice before each Change Date. The notice will advise me of- (I) the new interest rate on my loan as of the Change Date; (il) theamount of my monthly payment following the Change Date; (iii) any additional matters which the Note Holder is required to disclose; and (iv) theaddress of the association you could contact regarding any questions about the adjustment notice. B. CHARGES; LIENS Uniform Covenant 4 of theSecurity Instrument is amended to read as follows: 4. Char"; 1,1M. Borrower shag pay all taxes, assessments, and other charges, rinex,:aia1 imposftionxxttributabletc the Proper6rwhich may attain is priority over this Security Instrument, and leasehold payments of ground rents, it any, in the trraatner provided under paragraph 2 hereof or, if not paid in such-manner. by Borrower making payment, when due, directly to the payee thereof. Borrower shall promptly furnish Lender all notices of amounts due under this paragraph. and in the event Borrower shall make payment directly, Borrower shag promptly fttrttish to Fender rectipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Securely Instrument; however. Borrower shall not be required to discharge any such lien so long as Borrower: (a) shall agree in writing to the paytrseot,of rite obligation secured by such lien In the manner acceptable to Lender. (b) shall in good faith contest such Gen 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 Pro r part thereof; or (c) sha k wcure from the holder of such lien an peen o this t agreement in a farm sati3factory to Lender subordinating such Gen 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 tea days of the giving of the notice. LC. N0710E Uniform Covenant 14 of the Security Instrument is amended to read as follows: A 14. Notice, Fgcept for any nutic. required under applicable law to be given in another manner, (a) any notice to Borrower provided for in this tiecurtty hntrument shall he given by delivering it or by mailing it by first class mail to Borrower at the Property Address or at such other address »s 11411 rower may designate by notice to tender as provided herein, and (b) any notice to tender shall be given by first class mail to Lender's "leas staled herein yr u) such other address as tender may designate by notice to Sorrowet as provided herein. Any notice provided for in this 'Wuu11y Inot ument shall be deemed to have been given to Borrower or Lender when itiven in the manner designated herein.