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ADIUSTAHLE: RATE RIDER 89- =10229 8 (t Yeararasur)rinlex•Rattet aw) THIS AD)US -ABLE RATE RIDER "nude this 1st dayof,, May 89 and is Incorporated Into and shall be deaned to amend and supr4tmn1;d* Mortgage; Deed of Trust, or Security Deed (tae "Security instrument ") of the same date given by the undersignird (the "Borrm er ") r o socvra Borrower's Adjustable Rate Note (the "Note ") to HOME EJRLRwL 8"N_ h!' A LOAN ASSOCiATMU OF GRAND ISLAND MBRASKA (the "Lender ") of the same date and covering the propertydacribed 'itheSemritylnstmment andloattedat: 1903 West 13th Street.. Grand ds.land, Nebraska (Ptttperty Addrttss) Tbk mole ew(aftr Wevish as riwrittA fon.cbt%u to my loom" rife alai my r♦g ah payttaemb. TW mate am Hanna the amtatsat or Interemt rate en ithur at amq oame dm MW dao Rte wimitmmmt and Ow maslomm rate t mat M. . ADDITIONAL COVENANTS. in addition to-tht rovemuits and kgreernents made in the Security instrument, Borrower mad Lender further covenant and agree as follows: A. IN -MM IRATE AND MONTHLY PAYMEPf f f ANGES The Note provides for an initial interest rate of 9s. Section 4 of the Note provides for cltanies in, the interest rate and the manthly Wyrtnents. as follows: 4. !MEREST RATE AND MOA'THLV PAYMENT CHAA -6ES (A) ttl &WDma jlspinttttest rate I will pay rra2y change on the first day of 3t ! ^p —.1990 , ate on that day every twelve months t resrafter. Eachdate on which my interest raw could change is called a "Change Date." (3) Twlwex Beginning with the first Change Date, my i ;hermit rate will be based on an Index. Thc "index" is the weekly average yidd on United States Treasury securities adjusted to a constant maturity of 1 year, as made available- by the Federal Reserve Board. The mast recent Index figure avaUble as of the date 45 days before each Change Date is called the "Current Index." Gf the Index is no longer avaiable, the Note Holder vrli choose a new index which is based upon compartkke.!Ommatlon. The Note ' ,•r s Hvida will give me notice of this choice. . (C) Colculatlas of Citamgea Change Date, the Note HotdcT will calculate m new interest rate by adds Before each Y rig throe &aria %It�1.f percentage '.. ! W. -. points r 3-5 9i) to tJrs Current Index and rounding to the nearest I f8th of 101s, subject to the limits stated in Section 4(D) below. Thls rounded amount will be myna* interest rate until the next Chauugic Date. j The Note Holder will then determine the amount • of the monthly payment that would be sufficient• to repay it. frill the principal I am expected to owe on that Change Date in substantially" equal payments, by the maturity date at my new Interett rate. The result of this calculation will be the new amount of my monthly payment. (D) UrmiboalslammlRaWCksages The interest rate I am ret;i:sed to pay at -the Garr. Change Date will not be greater than 1 S.B rRa or less than 1.�.�1 0 _ni. Thereafter, cy interest rate will never be increased or decreased on any single Change Date by rncne than two _Percent l �'+a 1 from the race of irx; :rat I hays to:a paying for the ptecedivg.,,wdve months. The minimum interest rate on this loan will never be ! less than 9 . F; 475 Wdl t1* maximwm into: est rate will never be grater than 16.5 tfi, (E) Effective Deck of Cita P My new interest rate will be*ame effeck,vr :m each Chang: Daw. I wal. rt,q! the amount of my new monthly payment beginning on the first monthly payment date after the Change Daterwutt0 die amount of my moot Wy payment changes again. (F) NotkratClanges : The Note Holder will mail or deliver to me a natice'rV,; -x a each Change Date. The notice will advise me of. ` (i) the new interest rate on my loan as of C ^t`Ige Date. (ii) the amount of my monthly p i ;orm- fui: awing th rChange Date; (iii) any additional matters whWi •1:1b *,'W9ne holder is required to disclose; and (iv) the address of the association you could contact regarding any questions about the adjustment notice. 5. CHARGES; LIENS Uniform Covenant 4 of the Secur`fy Instrument, is read as falloays: 4. Cbargs; Wo. Borrower shall pay all taxes, esse ursezu,,• mild other charges, fines. and impositions attritutable to the Property which may attain a priority over this Security Instrument, and fease told ray -mcnts of ground rents. if any, in the manner provided under pwragraph 2 hereof or. if not paid in such manner, by Borrower mailing pay:nmi, when dui, directly to the payee thereof. Bonnier shall promptly furnish Lender all notices of amounts due under this paragraph, and in the event Borrower shall make payment directly, Burrower shall promptly furnish to Lender tempts evidencing such payments. Borrower shtllIptomptly discharge any lien which has priority over this Security instrument; however. Borrower shall not be required to dischUge any such lien so long as Borrower: (a) shall agree in writing to the payment of the obligation secured by such lien in the manner acceptable to Lender; (b) shall in good faith contest such lien by, or defend against enforcement of such lien in, legal proceedings which in the opinion of Lender operate to prevent the enforcement of tte Isla or forfeiture of the Properly or any P" thereof; or (c) shall secure from the holder of su:h lien an agreement in a form sati,fectory to Lender subordinating such lien to this Security tnStrurncnt. If Lender determines that all or any put of the Property is subject to a lien which fray attain a priority over this Security instrument, I_SttA-r 6�llgive Bure-z r a notice iC.- ntifyiig suit Ikr-.. Cari0*eF sttdit satisfy such lien or tale one or more of the aC.tons set forth above i within tort days of the gi :inn of the notice. it {oatiTf tirllfOfm Cotenant 14 of the Security inuturaert is arr::rded to read as follows: 14. Notiee. Except fir. any notice requited under applimMt fait to be given to another marimi. (a) any notice to Borrower provided for in chi+ ~ Stcurmty trrstrument shalt be gnen by dchterrng it or by mailing it by fuse class rratl to ttantaaer at the Property Address or at su:h other aJdte•.t Ai Iorrower may dragnire br non a to I.et:dsr ut provided F.:retn, and Ih) cn: notice to Lend:t shall he gt :en bV fits: class mr:.t 1 +s 1 , adflresv uatrd hterm� t to a ;h tahet add!c :� ss 1 erfst rrsay Ct mgaate h} non ;e to Ilurruwrr as prir,rded ttaao Any nuttce prutAcd fits in : ttit Se,ut;ty tasuu :gent +hslf tY cttrrr :ettt,+ha. a ht±tm g.:cs+:n tlorw:,er car t t7:der v. cngS =e'S In the manfltt dt;igtmate,l htreln 47 ;rte