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r r ADJUSTABLE RATK' RIDER 89-;W 102088 (l: Year Treasury lades --We Cape) THIS ADJUSTABLE RATE RIDER is made this 19th day of April ,19 89 , and is inoatporated into and than be deemed to amend and supplement the Mortgag. Decd of Tract. or Secusity Deed (the "Security iastrutnau') rat the tame date Liven by the undessisnad (the ••Borrower',) to secure Baarowees, Adjustable Rate Note (the "Note') to "ow _ FEOIRAL SAVINU a LOAN At WATION.OF GRAND ISLAND, N®AItSKA (the "Sander ") of ft mw date and coverft the prtlpe rty described in the Security Instrument and located at: 2422 West 18th Street, Grand Island'i, Nebraska 66603 (Property Address) This nde ciael t$ Ise Wo m mill tB for chairs In ° ie(aestatC r gE S itE':�pv ,pta.il raytasew. This note do 11110 ft tlM a rat my leterest aft ems. ; r, .viis ode arts aiae tlbe attltlteaetudisna ten l rims pry. > , ADDITEONAL COVENANTS. in a flon-to the covenants cad agreeatenWmade in rite &Ftiiity Instrument, Bono trei gad Lender f-etther covessantand agree asffolkmr. +!. IDi'I'B "tFSli ' RATE AND MONTH :V PAYMM" CRANGES ` T.In NOW pr�ix=s for an tattiest interest rate of 13.0 ON. Section 4 of the Note provided for chaadet in the inti rest. rate cad rite ri*i ly payments, as foi)aasz= ; IMERPST RATE AAA MfONilfif, P.4 YMEi ,- 'CHANGES ' (A) Map Dates The interest rate 1 will pay may chaagtror Ar fist day of may 19 139 , and on tT=,4aty ' h•,n,altfp raonttesthereafter. Ea- h& tccmw! mchmyinterestrattcoWdchangehcaCeds ,•. "Z�>lilirtb "'. (9) The Well Beyimim4 with the first Change Date, m� urtorest rate will be based cam Index. ime "linden" is ton wee➢rfy amw yield as uwned &ai" ` " 'Treasury secucaies adjusted to a constant maturity of 1 year, as made available by the Federtrl Tbig moat reoent Index figtxnt~ 0=141e as of the date 45 days before each Chimp Date is called the "Current lacier." If the Index is no longer available, the Note Holder will choose a new index which is based upon competrabk information. The Note Wider will give me notice of this choice. (C) CakabdosogCYsnges Before each Change Date. the Note Holder will calculate my new interest rate by adding -Three & one /half percentap points (---3. 5 ere) to the Current index and rounding to the nearest I /Sth of 1%, subject to the limits stated in Section 4(D) below. This rounded amount will be my newinterest rate until the next Change Date. The Note Holder will then determine: the amount of the monthly payment that would be sufficient to repay in full the principal I am =pmacd to owe on that Gunge Date in substantially equal payments by the maturity date at my new interest rate. The fault of ft C411CU ddon will be the new amount of my monthly payment. (D) Um ft os imawest Rate Chan" 11The interest rate I an required to pay at the first Change Date will not be greater than 15.. Q _qti or less than a9. Thereafter, my interest rate will never be increased or decrened on any single ChuW Date by more than two Percent from the rate of interest 1 have been paying for the preceding twelve months. The minimum Inte rest rate on this loan will never be lest than 9.5 —% and the mtuimum interest rate will never be grater than 16.5 ely, (E) Etfeeetive Date of C11iasgn My new interest rate will :become effective on each Change Date. I will pay the amount of my new monthly payment beginning on the tint monthly payment bate after the Change Date until the amount of my monthly payment changes again. (Tr) Notla of Cot uqp The Note Holder will mall or deliver to me a notice before each Change Date. The notice will advise me of: (I) the new interest rate on my loan as of the Change Date; (ii) the amount of my monthly payment following the Cl-aege Date; (iii) any additimaa matters which the Note Holder is required to disclose. and (iv) the addreavof, the association you could contact regarding any questions about the adjustment ovice_ s. CHARGES; LIENS Uniform Covenant 4 of the Security instrument is amended to read as follows: 4. CMryes; LIM. Borrower shall pay all taxes, assessment$. and other charges, fines. and impositions attributable to the Property which may attain a priority over this Security Instrument, and leasehold payments of ground rents. if any. in the manner provided under paragraph thereof or. if not paid in such manner. by Bono%, making payment, when due, direstiy to the p_;m— theimf. P- -rrowa eAu VmVdy ftuNsh Leader all notices of amounts due under this paragraph, and in the event Borrower shall make payment directly. Borrower shall promptly furnish to Lender receipts evidencing such psymsr,h:.. Borrower shall promptly discharge any Hen, which hat priority over this Security Instrument; however. Borrower shall not be require& C;o discharge any such Hen so long as Borrower: (a) shall agree in tttitu-.g to the payment of the ebligation secured by such liez in the m -&--o. rr acceptable to Lender; (b) shall in good faith contest such Denby. or"ersd against enforcement of ss rch lien in, legal proexexli�t vrhieh in he ;Onion of Lendier operate to prevent the tnforeement of the lien or Pudbiture of the Pt+dixrty or any " .. inut ibacof; or (c) shall secure from the ivok er of such lien an agreement in a ftrrm satisfactory es 1 grader idbwdinatir g such lien to this . Seatrity Instrument. ft Gender determines that all or any part of,the Property is subject to a liter Kl-.�ch may attain a priority oRea�,thb Security Instrument. 1kfide3 t ail Give: amlower a trotice i&Mthfping such lien. Borrower shall satisfy qtr b Een or fake one or mores df: tine actions set forth above wittiin ten days of the giving of the notice. C. NOTICE Ueifono Covenant 14 of the Security instrument is amended to read as follows: 114. Natdee. Except for any notice requited under applicable law to be given in an%" manner. (a) any notice to Borrower provided tot 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 as lfarrower may designart by notice to Lendtr as provided herein. srd (b) any trMty to Lender shall be given by first class trail to Lender's address stated herein m tc+ su.h twha address m Lender. may designate by ntrti,:e ttt Borrower as provided herein. Any notice provided for in thin Se runty Instrument shall tv d:ciad to have been given to Borrower or I,et,dtt wrrr, given in the rnanmr desfgnated herein. i* 7'. I