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r 1 I . J y •l. Y .r : 89---.- 100916S ADJUSTABLE, RATE. RIDER _._ - - - - — - i t-Vanr icy Todlim —Rats Cages) THiS ADJUSTABLE RATE RIDER is made this ....9 §0 day of ........ February , t969 . 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 ivetrk the undersigned (,the "Borrower" j to secure Borrower's Adjustable Rate Note (the "I+lote ") to.......orwest an tYeoraskra. Nationafi NASssociation �. _.................. .................. ..... ............................. .........................,..... (the "Lender ") of the same dat. andcavering the property described in the Security Instrument and located at: 2224 Woodridge Lane, Grand Island, Nebraska 68801 .... ............................... ........: Prvpettp Address ...................... ........................ .................._............ THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE WNTHLY PAYINBNT. THE NOTE LIMITS IMF AIK INT THE BORROWER'S INTEREST RATe CAN CHANGE AT AMY ONE TIME AND THE MAXIMUM RATE THE BOR- ROWER MUSr 1?ibil<., . AOOtttONAL COf•'ENx:vrs, In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. INTEREST RATE AND WONTHLY PAYMENT CHANGES ' Thg Note provides for an initial interest rate of $,QO......... ,: 'T fir. Note provides for changes in the interest rate and the tx.Z311'iiy payawnts. as follows: di. INTEREST RATE.AND titONTHLY PAYMENT CHANG ES. .:.. G (A) Change Dares �a The interest rate E.wilt pay may change on the first day of ...... Maw- :.:.:........................ 19...90., and ai *,at day every 12th month thereatftrr. Each date on which my interest rate cCW.4- _change is called a "Change D1uGR 1 B) Tie lailex Beginning with the first Chan &.Date, my interest rata Will, be b;ised on an lmde"c. The "Index" is the: wtekly average yield on United States Treasuiy securities adjusted to. a. cansta�t maturity of I year. as made available by the Federal Reserve Board. The most rezcii, f:tdex figure available as of the date 45 days before each Change Date is called floe "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 wile ric me notice of this choice. 1 C) Calculation of Giiifiges Before each Change, Date, the Note Holder will calculate my new interest rate by adding .......NO An.C.Qf).4.... half ^ ... ..........•••...........I...... percentage points (....2...ei.Q.....%) to the Current Index. The Note Holder will then round the result of this addition to the nearest one - eighth of one percentage point (0.125`k). Subject to the limits stated in Section 4(D) below. this rounded amount will be my new interest rate until the next Change Date. The Note Holder well then determine the amount of the monthly payment that would be sufficient to rcWy' the unpaid principal that 1 ant expected to awe at the'Change Date in full on the maturity; date at my new interest rate in tabstantially equal payments. The result of this calculation will be the new amourtae.of my monthly payment. 1D) Limits on Interest Rate Changes The interest rate I am requir d is pay at ib first Change Date will not k frreater than...10.0.0 ., ..........17 or less than 6. aQ..........%. Thereafter, my mterest+ratts will never be increased or dv:reased on,viy�: ngle Change Date by more than two percentage points (2.0%) fram-the rate of interest I have been paying for tht preceding twelve months. My interest rate wilt never be greater than ........3,.QQ..�Ir.. (E) Effective Date of Changes My new interest rate will,trecame effective on ea.h Change Date. 1 u►r 11 pay the amountof my new monthly payment beginnitrg'(n•the first montitly payment date after the Change Date until Cite amount of my monthly payment changes again. 1 F) 1Vatice of Changes The Note Holder will deliver or mail to me a notice of any changes in my interamt rate and the amount of my monthly payment before the eff'ectiv'e date of any change. The notice will include information required bylaw to be given me and also the title and teft Aline number of a person who will answer any question i tnay have regarding the notice. 8. TRANSFER Of T1fiE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER Uniform Covenant 17 of tite Security Instrument is amended to read as follows: Transfer of the Property or a Beneficial leterest in BetVor 4*Y- If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower i's. vald or transferred and Borrower is not a natural person) without Lender's prior written consent. Lender may. at its option, require immediate payment in full of all sums secured by this Security Instrument. However. this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. Lender also shall not exercise this option it (a) Borrower causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made 10 the transferee: and (b) Lender reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of a breach of any covenant ur agreement in this Security Instrument is acceptable to Lender. `•ihc 1nde% tigurew..uhh're o% to the ilatl- the mural intcrcm.ratc %%,t% tletornmetl It tfnw Iv.rtm tit.t� QWHIATISTATE 404'USUBLE WE n.CEn --APU 5 2— I- .. , :. i..•i1 .. F81114 At" treads Mac t;r.rorm witrumant Frames► 31913 95 s