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ADJUSTABLE RATE RIDER 89 dam '100690 (1 Year Treasury Index-Rate Caps) THIS ADJUSTABLE RATE RIDER is made this 6th day of February .19 89 and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the same date given by the undersigned (the "Borrower ") to secure Borrower's Adjustable Rate Note (the "Note ") to %01 E FEDERAL t)AVINg§ A LOAN ASSOCIATION OF GRAND ISLAND. NEBRASKA (the "Lender ") of the same date and covering the property described in the Security Instrument and located at: 1212 blast 71-.h Strppt, Graod Inland, We (Property Address) Thk note costalm previskas allowing for chaagea Is my iakeest ate mW my seoaft payments. This sate also lltnita the amount my interest ate can change at any one tine and alas the dalmm aad the usardataies raiee I assist pay. ADDITIONAL COOYENAyWTS. In addition to the coveusnts and agreements made in the Security Imtnimeut, Borrower and Lender further covenarat and agree ass folows: A. INTEREST RATE AND MONTHIN PAYME15 C, MOES The Note provides for an initial interest rate of �t [L • UU q•. Section 4 of the Note provides for changes in the interest rate and the monthly payments as follows: i 4. MTERESr&ATE AND MONTHLY PAYMENT CHANGES (A) ChaaRitprtta Tile intema mite I will pays may change on the first day of ,19 g0 , and on that day every +1.1A1 lip months thereafter. Each date on •which ray intea+est rate could change is called a "Change Date." (d) The Is�lett Beginning with the fast Change Date, my interest rate utl debased on an Index. The "Index" is the weekly average yield on United States Treasury securities adjusted to a constant maturity of, 1, beat, as made available by the Federal Reserve Board. The most recent index figure available as of the date 45 days before each Change Date is caM d the "Current Index." If the Index is- no longer available, the Xote Holder will choose a new index which is based upon comparable information. The Note Holder will give me notice of this choice. (C) Cal dWano/Chattgea Before each Change Date the Note Holder will calculate my new interest rate by adding i;hr-ee It - ectlia f percentage pot _ ) otrri ft to the nearest 1 /8th of 1%. subject to the limits stated its Section 4(D) below. points f_. z e Ali io the Current ItticQex and r This rounded amount will be my new interest rate until the next Change Date. The Note Holder will tbm .determine the amount of the monthly payment that would be sufficient to repay in full the principal 1 am expected to owe on that Change Este 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) Llu t m Interest Race Chaaga The interest rate I am required to pay at the first Change Date will not be greater than 14-n vi or less than A4'i. Thereafter, my interest rate will never beincreasedor decreased on any single Change Date by more than two percent from the rate of interest I have been paying for the preceding twelve months. The minimum interest rate on this loan will never be less than 9 Al. -% and the maximum interest rate will never be greater than 16.0 %. (E) Etfetdse Date of Chattga My new interest rate will become effective on each Chartge Date, l will pay the amount of my new monthly payment beginning on the first monthly payment date after Ow Change Date until the amount of my monthly payment changes again, (F) Notice of Changes The Note Hol der ailf mail or deliver to mare a notice before each Charge Date. The notice will advise me of: (i) the new interest rate on my loan as of the Change Dare; (ii) the amount of my monthly payment following the Change Date; (iii) any additional matters which the Note Holder is required to disclose; and (iv) the address of the association you could contact regarding any questions about the adjustment notice. B. CHARGES; IMS Uniform Covenant 4 of the Seairity lnstnrinent is amended to read as follows: 4. Charge; IIkes. Borroweir sl•,al) pay all taxes, assessments, and other charges, fines, and impositions attributable to the Property w�zich nray ` attain a priority over this Security Instrument, and leasehold payments of ground rents, if any, in the manner provided under paragraph 2 hereof or, if not paid Eta such manner, by Borrower nzaidng payment, when due, directly to the payee thereof. Borrower shall promptly fern" Lender all notices of ai ammts due under this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments. Borrower sh91 promptly discharge any lien which has priority over this Security Instrument; bm wer, Borrower shall not be required to discharge any such Hen so long as Borrower: (a) shall agree in writing to the payment of the obligation seasieed by such lien in the manne f aceeptable to Lender; (b) shall in good faith contest such Hen by, or defend against enforcement of such lien in, le84pcocvxHngs which in the'cpfrsioo of Lender operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof; or,W shall secure from the ho6der of such Hen an agreement in a form satisfactory to Lender subordinating such lien to this Security instrument. rf )?render determines brat all or any part of the Property is subject to a Hen which may attain a priority over this Security Instrument, Lendersi'rali g *e Borrower a notice identifying such Hen. 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 for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. 7 i� S w t` i -