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ADJUSTABLE RATE RIDER (1 Yaar Trosattry Index --Rate Cap) 894NIIIIIII 101900 THiS ADJUSTABLE RATE RIDER is made this JACK. day of ..... April. 19M.... 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 given by the undersigned (the "Borrower ") to secure Borrower's Adjustable Rate Note (the "Note ") to..NQ�tte t..�d1',k. Ngb gsk�...Natignal„ Associat.......... o ........................................ ............................................... ............................... (the "Lender") of the same date and covering the property described in the Security Instrument and located at: 2723 Lakewood Drive, Grand Island, Nebraska 68801 -- ..... .........................................._..._....._._..._............................................................................................. ......................... - -.... (Property Addreal THE MIX CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE MOMMY PAYMEMT. THE NOTE LlWTS THE AMOUNT THE BOMOWEWS INTEREST RATE CAN CHANGE AT ANY ONE TVAE AND THE MAXIMUM RATE THE BOW ROOM MUST PAY. A OITIONALCOVEIVAW& In addition to the ccverraals..and agreements made in4he Security Instrumenk, l5omwer and Lender further covenant and agree as follows: A. Il tEREST RATE AND MONTHLY PAYMEN't`.cuANGESi The :Mote provides for an initial interest rate of ....g- 40::..90. The Note provides for changes in the interest rate ands aha�.. monthly payment., as follows: e. INTEREST RATE AND MONTHLY PAYMENT "ANGES (A) Change Dates The interest yifrr. I will pay may change on the first day of ........ Y ......................... t% and on that day every 12th month' thereafter. Each date on which my interest rate could change is called r "Change Date." 1 B) The Index Segi"nning with the first Change Date. my interen raic `v=il' b-, based on an Index. The "Index" is the weekly average yield on Uisirrd.St ims.Treasury securities adjusitd yA.doz: ant maturity of 1 year. as made available by the r ' Federal Reserve l wiT. - Tftis mast recent ladle figure avali?abIra of tihe date 45 days before each Change Date is caLkdt `• %� the "Current lndex.'''m It tat Index is no longer witilable. the Note Ho:cea will choose a new index which is based upo .'.!Qamparable informs "con. The Ncte Ho' r will give me notice of this choices . (C ) Caktrlattw of Changes Before each Change Date: the Note Holder will calculate my nsw interest rate by adding ..,,Two and one .. ..... i ................ ran ?v ,r points 2.50 .. %,; .t� the Current Index. The Note Holder will then round the resuli+dFthis addition to the nearest one - eighth of one perceentage pa7tii, ( 0.12596). Subject to the limits stated in Section 4(D) below. this rounded amount will be my, new .interest rate OAtil the next Change Date. The Note Holder will then determine t: e' amount of the monthly payment that would be sufficient to repay the unpaid principal that 1 am exr.oted to owe ai'tye Cbangc Date in full on the maturity date at my new interest rate in substantially equal payments.' 'The result of this calculation will be the new amount of my monthly payment. t D) Limits on Interest Rate Changes The interest rate 1 am required to pay at the first Change Date will not be greater than ...1 AP............'7 or less than 6.00 %. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than two percentage points (2.0%) from the rate of interest I have been paying for the preceding twelve months. My interest rate will never be greater than ......1.3.419-11. ( E) Effective Bate of Changes My new inters . rz!x will become effective on each Change Date. I will pay the amount of my new monthly payment begimrj'. g on the firs.; mr -jahly payment date after the Change Date until the amount of my monthly payment changes again, c F) Notice o5 Changes The Note Holder will deliver or mail tome a notice of any changes 'in my interest rate and the amount of my monthly payer -;rnt before the effective dire of any charge. The rw:tice will in;" Ac information required bylaw to be given me and also the title and telephone nwinber of a person who will- 'attsNer any question b may have regarding tf,s notice. IL TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER Uniform Covenant i 7 of the Security'[ nsvtumcnt is amended to rent{• as follows: Transfer of the'Property Ora Beneficial Interest is Borrower. U0 0 or any part of the Property or any interest in iris sold, or transferred (or if a beneficial interest in BorraW cr• is sold or transferred and Borrower is not a natural psrson) witkrn Lender's prior written consent. Lender may. at iris ,option, req,lire immediate payment in full of all sums secured by this Security Instrument. However. this option shall not be exerci;ied by Lender if exercise is prohibited by federal law ' r of the date of the Security Instrument. Lender also shall nut, axcrcise this option if: (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 1 to the transferee. and 1 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 or agreement in this Security Instrument is acceptable to Leader. l_ "The Index figure u%ailablc as of the date the initial intcrc,t rate sins dctennincd for thi, loan Ica, ..... �sg9...... � o t W&VI IATg iflHiST&! f PA19 fasnsp —Lau 5 .1, - , ,; ..� —_�„�� Vw ;$Lei gg hint Undarm Instrument Form jilt! 05 r.. -::4:• "ter ..