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1 ADJUSTABLE RATE RIDER (I Year Treasury Index-Rate Caps) 89--` 101074 THIS ADJUSTABLE RATE RiVER is made this . 23 day of February 19 89 and is incorporated into and shall be deemed to amend and supplement the Mortgage. Deed of That. or Security Deed (the "Security Instrument ") of the setae due given tw the undenig W (the "Borrower ") to secure Borrower's Adjustable Rate Note (the "Note ") to HOME FEDERAL-SAVINGS • .LOAN ABIIOC &U0N OF GRAND ISLAND. NEBRASKA (the "Lender ") of the same date and covering the propitty dsacribsd in the Security Instttexat and located at: 4260 W.. Capital, Grand Island, iVe . 68603 (Property Address) TMa rate Cambia gnrsrtiaiaaa tsltewlrg4 for chump is my hmrw laic NW my man* pay""ta.'IN$ note ails* soft lice Gana* my faaeres rate can Naage at an one tine W a1N thte tnlWsaran an4 ere asadrnaa seta I gases pay. ADD)TIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument. Borrower and Lender further covenant and agree as follows: A. INUREST R47E AND MOMTi U PAlilig£.KY C E&NGFS The Nou p: uvides t,.- an initial imereai rata of 12.X- fii. Section 4 of the Note pmtides fair ddangss is the interest rata and the monthiy payments, as follows: 4. INTEREST RATE AND MONTHLY PAYMENT CHAIWGLeS (A) Change Data Tate interest rate I.will pay may change on the first stay of %rafch .199_ , and on twit day every twelve months thereafter. Each date on which my interest rate could change feWled a "Cl ufge Date.'• (B) The lace: Beginning with the first Change Date, my interest rate will be based on an Index. The "Indict" is the weekly average yixld on t; nitaEatsLi.es Treasury securities adjusted to a constant maturity of I year, as made available by the Federal Reserve Board. The toast t : sat Wen fii ra availabletas ofthe dm45 days before each Change Date is callai the "Current index." If.thr End= is no longer available, the Note Holder will: choose a new index which in bayed upon comparable ration. The Note Holder will give raanotice of this choice. (C) cdc aw iost of Cha.ges ; Before each Change Date, the Note Holder will altsr 4u pry new interest rate by adding. J hr'PR wnB, %ha 1 f perantage points ( 3 5 to the Current Index'and ram din8`bt the nearest 1/8th of I ell:. stfbject to the limits stated in Section 4(D) below. This rounded amount will be my new interest rate until the next CBnisge mate. 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 mttutity date at my new interest rate. The result of this calculation will be the new amount of my monthly payment. (D) LbNb on Interest [fate Chaages (The interest rate I art: r*4-6red to pay at the rust Change Date will not be grater than 14.0 w. or less than —i n — A F % Thereafter, ray interest rate will never be increased or decreased on any single Change Date by more than two l Q,ront S2 • �1 J from the rate cd interest I have i vm paying for the preceding twelve months. The minimum [= =t rate on this loan will *m= be less than -9i and the maximum -Interest rate will never be greater than 16 (I) , Effective Dale of Clkaww My new interest rate will become effezdve an each Change Date. l will pay the amount of my new monthly payments iygi LAS stn t:urr first monthly payment date after the Change Date tmill flit amount of my monthly payment changes again. (i) Nodes of Chaages The Note Holder will mail ordetiver tome a notice before ea9s CtFv. Date. The notice will advise me of: (i) the new interest rate on my loan as of the Chang-Du., (ii) the amount of my monthly payment following tiro t"I:t'�2 t3ax; (iii) any additional matters which the Note Holder is recd :std co ri Ysciose; and (iv) the address of the association you could contact nw any questions about the adjustment notice. B. CHARGES; LIENS Uniform Covenant 4 of the Security Instrument is amended to read as follows: 4. Ckarga; Clean. Borrower shall pay all taxes, assessments. and other charges, fines, and Impositions attributable to the Property w>vds may attaih a priority over this Security Instrument. and leasehold payments of ground rents, if ar y, in the manner provided under paragraph 2 hereof or, if nct paid in such manner. by Borrower making payme t:. whet. due, directly to the ;vmr f hereof. Borrower shall pntargiy furnish Lender all ndtku of amounts due under dais paragraph, and in the ewsnt Borrower shall make pteltzent directly, Borrower shaWo mptly furidsit to Lender receipts evidencing such' payments. 1?e¢ axer shall promptly discharge any Lien which has priority over this Security Instrument; however, Borrower shall not be required to ditchwge any such lien so long as Barr :_ (a) shalt agree in writing to the payment of the obhpttion secured by such lien in the manner acceptable to Leggin.: (b) shall in good faith attn est such lien by, or defend agktst enforcement of ttich Hen in, legal proceedings which in the opinion of Lender rsWtte to prevent the entorcement of the lien or forfeiture of (he Property or any prrti, tlteteof. or (c) shall secure from the holder of such Let: in' agreement in a form satisfactory to Lender subordinating such lien to this Security Instrument. if Lender determines that all or any part of the Propett -, is ssit:lo t to n !ien which may attain a priority over this Security Instrument. [miler shall give Borrower a notice identifying Mch litre. &a w - sbeli: satisfy such lien or take one of more of the actions = forth.: bone 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. Nillim Except for any notice required under applicable law to be given in another runner, (a) any notice to Borrower provided for in this Security instrument shall be given by delivering it or by mailing it by Pint class mail to Borrower at the Property Address or at such other address as Borrower may designate by notice to Lender as ptovided hertie, 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 !;ecuriiy insrroamt shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. A. _ L 7 .ay.} t A '