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ADJUMBLE RAVE RIDER 89-- 101338 (I Year Treasury iuda•AatriCaps) THIS ADJUSTABLE RATE RIDER u made this 8th dfwof. March 19 89 and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (tire "Security Instrument ") of the same date given by the undersigned (the "Borrower ") to mere Borrower's Adjustable Rate Note (the "Note") to HOME FERAL- SAVINGS & LOAN ASSOCIATION OF GRAND ISLAi41k K541 AM (the "Lender"? of the same date and covering the propertydescribed In the Security Instrument and loc atedan 4620 Deva Drive, Grerd island, Ne (Property Address):,.: Tien tease ettaeataa m I Now afavtlag for chkallms In.ny Imiler at nle ant my naa t p ymmeab. TYs sole aiw Halt tie mat any dntemi -r ate can champ at my owe tYse 04 the tie Walaaw W the andaaa rate I tnttst pqr., ADDITIONAL COVENANTS. In addition to the covenartm and ava=zws made in the Security Instrument, Borroum and Lender further covenant and agree as follows: A. IIqMMT RATE AND MONTfifftY PAYMMff CHANGFA The Note provides for Z an initial interest rv-_ of O %. Sbctlmi 4 of the Note provides for changes in the inter rate and the monthly payments. as follows: 4. INTEREST RATE AND MOA7T Y PAYMENT CIiANOES (A) Cheap Dirks The interest rate I will pay i ay chamW on the first day of .19 90 . and on that day every twpl tip mca to it~=after. Each date on which my interest rate aauld change is called'a "Change Dsrz." (D) The lade: Beginning with the rust Change Dr_ my i>r'.est , =v will be bared an an Utdex. The "Index" is the weekly avenv«ield on United States Treasury securities adjusted to a constam2 mzm ty of a year, as made available by the Federal Reserve Board. The m= reme index figure available as of the date 45 dayf before each Change Dt teIs called the "C'ummi Index." If the Index is no lamer available, the Note IfoMer will choose a new,imilm vahich is based upon compara• -.c iaformation. The Nate Holder will give me noticebf thft choice. (C) Calcaladoa of cha t im Before each Change Date. the Note Holder will calculate my new itthjlmt row by adding three & one /half percentage points 3 - 6 �Rr) to the Current Index and: rrsunding to the peanut 118th of 1%. subject to the limits started in Section 4(D) below. This rounded amount will be my new interest rate until d*next Changes Dtatt u The Note Holder will then determine the amount of the monthlit pityment that would be sufficient to repq- L1 full ft p-mcipal l am expected to owe on that Change Date in substantially equal payments by-tile nstturity date at my new interest rate - Tw result cf U`.-s calculation will be the new amount of my monthly payment. (D) IiailsoalskmessRate0anges 1131ednterest rate I am: required to pay at the first Change Cato will not be grater than I LL 8 9i or less that alb. Thereafter, my irtwest rate will never be inc reawl ardwreased on any single Change Date by more than two percent _..(2 13) from the rate of interest i have been paying for the ptacxiii!y twelve months. The ndnimum interest rate on this loon will never be less than n__% and the nn;d=um interest rate will never be rioter thaw. - 16.0 (L+) Effective Date of Changes My new interest rate wig become effective on eaift Chutge Date, I will'pay the amount of my new monthly payment beginning cn the first monthly pay==: date after the Change Vizz utto the amount of my monthly payment changes again. M IYOdoeofCiaages The Note Holder wilt mail or detitier to me a notice before each Ctiftne Date. The notice will advise me of: (I) the new fntcrmt rate on my loan as of the Change Mug: (b) the amortttofm ymcimb3y payment following dioChwi pDate; (iii) any additional matterswitich the Note Holde7 is,re lutlted to disclose: and (iv) the address of the association you could o3nluc ^. regarding any questions about the adjustment notice. Ili. CHARGES: LIENS Uniform CL'7enant 4 of tl naecnrity dnstnttrmt is arnva cd to read as follows: 4. Charges;. Liew. Borrowershall pay all tares, assessments. and outer charges, fines, and imFostiiun�a �t r �t;c;Jiletrs the Property which may attain a priority over this Seat.-ity Instrument, and hasehold payments of ground rent::, i f any, in 11W, manner pravIAal under paragraph 2 hereof " or, if not paid in such m ;n&z, by Borrower maldttlt payment. when due, directly to t]tte r1iV0 tlttreof. Borrower shi,3 promptly furnish Leader all notices of amounts due under this paragraph. and in the event Burrower shall mak' ,x;1� ; "•thy, Borrower shall promptly furnish tc . Lender receipts evidencing such payments. Burrower shall promptly discharge any lien which hit ;priority over this Security Instrument; however, Borrower shall not be required to discharge any such lien so long as Borrower: (a) 6?ail agree in writing to the payment of the obligation secured by such lim in the martnts asrx p!able to Lender; (b) shall in good faith contest such lien by, or defend against enforcement of such lien in, legal proceedito vt,hd:h in thr opittittn of Lender operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof; or (c) shall secure from thr hoi•Jtr of to t9ien an agreement in a form satisfactory to Lender subordinating such fitat to this security Instrument. If Lender determines that all or aJ.• put -of the Property is subject to a lien which may a to in- i priority over this Security instrument, I OMW sba_ll give, Down a nwix idit lift; rush lien. Ba rraw -r shall satisfy such Ilea or id(te ant or more of the actions set forth above within ten days of thegi»rtgof the no!lte. LC. Noll" Uniform Covenant 14 of the Secvritylnntrument is amended to read as follows: 14. NWke. Except for any notice required under applicable law to be given in another manner. (a) any notice to Burrower 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 13 Borrower may designate by notice to Lender as provided herein, and (b) any notice to lender shall be given by fast class mail to Lender'- address stated herein or to such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided tot in this Security instrument shall be deemed to have been given to Borrower or Lender %hen iWen in the manner designated herein. ' tL y c t' K n- a t