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r L ice;4. L ADJUSTABLE RATE RIDER 89-'s :.409'73 (I YearTreasury Index-Rate Caps) THIS ADJUSTABLE RATE RIDER is made this 27 dayof February .19 89 and is incorporated into and shalll be deemed'to amend and supplement the Mortgage. Deed of Trtu-t, or Security Deed (the "Security Instrument ") of the same date given by the undersigrted (the "Borrower") to sewe Borrower's Adjustable Rate Note (the "Note") to HOME FEDERAL SAYINGS A LOAN ASSOCIATION OF GRAND ISLAND NEBRASKA (Ne "Lender ") of the same date and covering the property desv^ribed in the Security Instrument and located at: 801 hest Stolley Park Road, Grand Island, Nebraska. ( Property Address) Tbk tale cant,dr pnwitioes allowing for clsutgs In my htretest raft and nq watlly psytetats. TIM ate dto IWU the Outcast ley interest rate caO dust of say one tumor ud alto fire tnishun ant the m amass nit 1t matst pay. ADDITIONAL COVENANTS. 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 MONTHLY PAYMENT CHANGES The We provides for an initial interest race of 9.25 %a. Section 4 of the Ncte ptnvid-es ter changs.fi. -81i im*' w rate and the monthki payments, as follows: 4. LWEREST RATE AND MONTHLY PAYMENT CR:4!YGES = W amw Dole inte!!serate I will pay aych�on thee first day of CAmrrh .19 9 1) andonthatd,^•ytr,; twelve months thereafter. Each date on which,uk taij,3 t tiaus ❑auld change is called a "Change Date." EIIP• '1`Itelttdtca Beginning with the fast Change Date, my interest rate will bra based on an Index. The "Index" is the weekly average yield on United States Treasury secusiLes adjusted to a constant maturity of l year, as made available by the Federal Reserve Boz d. The most recent Index figure available as of the &W 45 days before each Chaagd D*mis called the "Current Index." ff Ifte Ind6t is no longer available, the Bair: 9,Wer w l cbcose a new index which. is based upon comparable information. The Note IifaldErw%gisrei we notice of this choice. (C) Calculathas of Gages Before each Grange Date, the Note Holder will calculate my new interesz rate by adding two and one /half peror-lizar points ( Z . 6 %i) to the Current Index and rounding to the nearmi: L! Sth of I %, subject to the limits stated in Section 4(D) bz�vw. This naunded amount will be my new interest rate until the next Change Date. Tae Note Holder will then determine the amount of the monthly paytsmt that would be sufficient to repay in full the principal l am erpe led to owe on that Change Date in substantially equal payments by the malusity date at my new interest rate. The result of this calculation V-J1 bee the new amount of my monthly payment. yt-,7 II,iettttsmalxtemll Rate Cha"a .Ith% in:onz i rate f am required to pay at the first Change Date will not be pmater than 11.25 %i or leas than i .25 %i. Thereafter. my interest rate will never be increased or decreased on any s,;i_ Change Date by more than twn perca at (2 4 —from the rate of interest 1 have beer, p vying for the preceding tar -tare months.. The_ minimum interest rate on this loan will w. ter be less than 7.00 %i and the maximum iv.,i rst rate will never be great w thhan 14.25 %i. (E7 Effective Date of Changes My new interest rate will become effective on each Chars: Date. I will pay the amo:.r of my new monthly payment beginning on the first mo>;itb7 payment date after the Change Date until it,: amnua. -53 my monthly payment changes again. (1' ) Notice of Chu ftes IMe Note Holder will mail or deliver to me a no;!ee be!o:-°=n.h Change Date, The notice will advise rs^r of: (i) the new interest rate on my loan as of the ChanX Date; (ii) the amount of my monthly payment following the Change Date; (iii) any additional matters which the Note Holder is required tod iclose; and (iv) the address of the association yap ;,wuld contact regarding any q °a3tiors b out the adjust rw notice. B. CHARGES; LIENS UL46-m Covenant 4 of the Security Instrument is amended to rea ; as fol!ows: 4. Charges; llJem. Borrower shall pay all taxes, assessments, and w ter charges, fines. and impos Wr :; z=r~:batable to the Property wl:rh- may attain a priority over this Security Instrument, and leasehold paymarts of grcznd rents. if any, ir the manner provided under paragraph E h—, or, a.. riot paid in such manner, by Borrower making payment. wtunn due, directly to the payee rIxTeof. Borrower shall promptly furnish Lender A om'i es of amounts due under this paragraph, and In the evern Borrower shall make paymv c directly. Borrower shall promptly furnish to Lender receipts evidencing such payments. Sorower shall promptly discharge any lien which has priority over this Security Instrument; however, Borrower shall not be required to, :urge any such lien so long. a::. Borrower: (a) shall agree in writing to the payment of the obligation secured by such lien in the manner to Lender; (b) shall it.gi -X4 faith contest such lien by, or defend against enforcemnit of such lien in, legal proceedings which in the opinion, of Lender epwate 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 cite Propert is subject to a Gen 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 vdihir, ten days of the giving of the notice. 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 5Mztaty Instrument shall begiven by delivering it or by mailing it by first classmail to Borrower at the Property Address or at such other address av Sisirow•er may designate by notice to Lender as provided herein, and (b) any notice to Lender shall be given by first class mail to I ender% addfes; stated herein or to such other address as; tender may designate by notice ro lturrower as provided herein. Any notice provided for in flak %ccunty Instrument shall he deented to have been given to Borrower of gender when given in the manner designated herein.