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ADJUSTABLE RATE RIDER 89 10145 5
<br />(1 Year Treasury Index -Rate Caps)
<br />itiS AD]USTABLE RATE RIDER is made this 1 Gthday of MarCN:1 19 89
<br />and is imcorporated into and shall. be deemed to amend and supplement the Mortgage, Deed 'of ;Trust; or Security Deed (the "se�virity
<br />Iwcrrumerl ") of the same date given by the undersigned (the "Borrower") to some Borrower's Adiystable Rate Note (the "Note ") to HOME
<br />FEDOM SAVINGS A LOAN ASSOCIATION OF GRAND ISLAND NEBRASKA (tba: "tender',+) of the same date and covering the
<br />Property described in the Security Iaunemeat and towed at:
<br />314 and 320 W. Oxnard, Grand.Island, Me
<br />(Property Address)
<br />Thla sole coalman psavislttat "WhW for cMaga is ray laarrest rMle. and ay aaaWy
<br />psyreats. M& sole an awlit fire amount ay inteteat rate can chaaga at say one titre aid
<br />Abe thearlab"MaMtiemmil nrate1aandpay.
<br />ADDITIONAL COVENANTS. Io addition to the cevertants and.agreements made ill-the Security Imstruatent. Borrower and Lender
<br />furtber covenant and agree as follows:
<br />A. INTEREST IRATE AND MONTHLY PAYMIM CHAN" --
<br />Ttte Note provides for an initial interest rate of 112. 7a. Gaon 4 cf :Rte NOW provides for changes a:, the interest rate and Us&
<br />monthly payments, as follows:
<br />A IMTEREST RATE AND MOMTHL Y PAYAlEIVi't#; ��,6ES
<br />(A) (ytaegie Deter
<br />The interest rate I will pay may change on the first dxy of April �R
<br />turelve . a9 . and on that day every
<br />months thereafter. Each date on which my interest rate could changels tailed a "Change Date."
<br />(R) Dire sweet
<br />Beginnarg with the first Change Date, my interest rate will be based on an Index. Thu "Index" is the weekly average yield on Uuited States
<br />Treasury securities adjusted to a constant maturity of 1 year, as made available by t a Federal Reserve Board. The most recent Index figure
<br />.
<br />available as of the date 45 days be cm- vMh Change Date is called the "Current Index."
<br />If the Index is no longer avaftbb ..4M Note Holder will choose a new index which is based upon comparable information. The Note
<br />Ho'der will give me notice of this choice.
<br />(C) Caleabatlos of Ciaaga
<br />Before each Change Date, the Note Holder will cal=Ute my new interest rate by adding Three and oneftZalf
<br />percentage
<br />points f— 3-S 9s) to the Current Index and rounding to the nearest 1/81h of Ills, subject to the limits stated in Sectim. 4th) below.
<br />This rounded amount will be my new interest rate until the next Change Date.
<br />The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay in full the principal I an-
<br />expected to owe on that Change Date in substantially equal payments by the maturity date at my new interest rate. The result of this calculat3GCr
<br />will be the new amount of my monthly payment.
<br />0 LImib os laterest Rate Changes
<br />The interest rate 1 am required *a'- .,pay at the first Change Date will not be grater than 14 5 @1* or less than
<br />10.5
<br />,
<br />%. Thereaf :r, my inte -w., rate will never be increased or decreased on any single Change Date by rrrre than -.ban fLor.G�'nt
<br />from the
<br />—�+�._ rates ist fnnterest 1 have been paying for the preceding twelve months. The minimum Interest rata on this loan will never be
<br />tens than 9.5 % and the interest 15.5
<br />maximum rate will never be greater than %i.
<br />;
<br />(E) Effective Date of Changes
<br />My new interest rate will become effective on each Change Date. l will pay the amount of my new montht/ payment beginni; g on the first
<br />monthly payment date after the Change Date until the amount
<br />of my monthly payment changes again.
<br />(F) Nolke of Charges
<br />The Note Holder will mail or deliver to me a notice before each Ch gage Date. The notice will ad-wise me of:
<br />+`
<br />(ip the new interest rate on en:c moan as of the Change Date.
<br />f;ayraent following the Change Data;
<br />02) any additio-;. k :fie, s at:;, -0r t %c 1V13te Holder is required to disclose-, and
<br />(iv} the address ., the assCdtzi: kz c;1 co•itd ar_aact reF ut:irtg a,�y �uest:ons about theadjustment notice.
<br />S. CIIARGHSt LIENS
<br />Uniform Covenant m of the Sa:irity Instrument is amended to read as follows:
<br />4• C @rm*. Lkias. Barrcwaw =ball pay all taxes, assessments, and other charges, fines, and impositions attributable to the Property which may
<br />attain a priority over this Sevinty instrument, and leasehold
<br />'
<br />payments of ground tents, ifany, in the manner provided under paragraph 2 hereof
<br />or, if not paid i t srucy manner, by Borrower making payment, when due. directly to the payee thereof. ]3arrcie =ha!! promptly furnish Leader
<br />all notices of a, °,4%lnts due under this paragraph, and in [lie event Borrower shall make payment direoly, Soo m,va shall promptly furnish to
<br />Leader receipts evidencing sz;ch'payments. Borrower
<br />shall promptly discharge any lien which has priority'ucrr this Security Instrument,
<br />however, Borrower shall rcA. be required to discharge any lien
<br />such so long as Borrower: (a) shall agree in %I'11tig to the payment of the
<br />obligation secured by such net, in the manner acceptable to Lender, (b) shall in faith
<br />good contest such lien by, or defend against enforcement of
<br />such lien in, legal proceedings which in the opinion of Lender operate to prevent the enforcement of the lien or forfeiture of the Property or any
<br />Part thereof; or (c) shall secure from the holder of such lien
<br />- —_
<br />,
<br />an agreement in a form satisfactory to Lender subordinating such lien to tlu
<br />Security instrument.
<br />if Lender determines that all or any pan of the Property is subject to a lien which may attain a priority over this Security Instn=n,#
<br />glve xer s nubs.^ yi,vg such tiro. Borrower sha11 satisfy such lien
<br />or take on: or more of the actions set forth above
<br />within en d
<br />within ten days of the giving of the notice.
<br />the gi tire.
<br />�
<br />LC.
<br />NO'TIC'E
<br />Uni form Covenant 14 of the Security instrument is amended to read as follows:
<br />14. Nodee. Except for any notice required under applicable law to be given in aribthar manner. (a) any notice to Borrower provided for ir_ this
<br />Security Instrument shall be given by delivering it or by mailing it by first class
<br />M1
<br />mail to tinrrmver at the Property Address or at such other addrtss
<br />as Borrower may dtOgntti- by notice to Lender as provided herein, and (b) any notice to Ltndcr shalt be given by first class to Lender'c
<br />mail
<br />addresssiattd herein or to su:h other addrtns as Lender may designate by nutice to 1101rvwer as prov!dcd herein. Any notice provided Fc: ,c it, ;.
<br />Security Instrueitrit shalt be deemed w have been to borrower
<br />given or i ender when aic•ar. m -he nisnner designatM herein.
<br />1:
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