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ADWSTABLE RATE RIDER 89...102385, 0 Year Treasury index -Rate Caps) T 1415 ADJUSTABLE RATE RIDER is madti titit- : 3rd day of . May .19 89 �. and Is fncorporated into and shall be deemed to arnim"di and supplement the Mortpge; , Deed of Trust, or Security Deed (the "Security Instrument") of the same date given by the undcwAgnvJ. the "Borrower ") to secure Borrow ees Adjustable Rate Note (the "Note") to HOME ;< R NWL SAVINN i LOAN ASSOCIATION CO GUND ISLAND, NEBRASKA (ibe "Lender ") of the same date and covering the property described in the Security Instrument and iocatad;at: 314 and 3201. West': OIxnard, Grand Island; Nebraska . ` (l?ropertyAdtlress) TW aete eoataB syoti s+fiiLotr i4s>itag for ek"N" [a mr,- ,jaVrW milt aarl'Mt] MaEW! pay>•eata. Thb ihifa.aGsuaiisF[t 6i saaovzt ray itateMt me rgii)dtai=e let"7 oak does" . taco the OWMat a" (the 111111 itim rate I Muff Pay. ADDITIONAL COVENANTS. in addition try the covenants and agreements made in the Security Instrument, Burrower and Lender further covenant and agree as follows:. >iNTl3i RATE AIti "feelliPifi''W1TiV ?VlixCHANGiFS v L7 i��ix "Gi �y ila for an initi a iw=ei : rrr.; .3f: 13-.0 %. Section 4 of the Note provides for changes in the interest rate and the r on-, as followsc ' :Ji.:...0 M-TEF RA 7EA,NZ:irWuhiV.`M- i`PAYMP -A-t CHA NOES (A) Clamp Dates . The interest rate I will June y=g r ,19 51J , and oc ¢tint daq evtr+r ; tweltie months .i'tereititi . each 3atuotn which my interw_m T mc6i :iaaige is ca?7ed a "Change Date." f3 rg tsith the first: Cl ange Date. my interest rare w � 1 be bwe -an =11ta x.. b-- "Wex" is the week4`J ahi a 3i ,= United States " Thw-my secsc�ses adjusted to a constant n==ifty of 1 yes;., as mad: avaable by th. �rrat •lieserve B md: Ilir ;Host recerw Index figure available as of the date M days before each f rage Date is called the "Ovrsrat index." If the Index is no longer available, the Mote Holder will choose a =w index watch is based upon comparable information. The Note , Holder will give me notice of this choice. (C) Cakakdoa of Chaagts ? Before each Change Date, the Note Holder will calculate my new interest rate by adding three and one /ha if percentage points ( 3.5 9i) to the Current index and rounding to tha nearest I /8th of I %. subject to the limits stated in Section 4(D) below. -- This rounded amount will be my new interestrate 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 - expected to owe oa that Change Bale in subaluntially cyuaf payments by the maturity date at my now interest rate. The result of this calculation will be the new amount of my monthly payment, (D) Lhdta oe fnUmt Rate CLaagm 11Th interest rate i am required to pay at the first Change Date will not be greater than 15.0 n or less than Ira. Thereafter, my intormt -rate will never be increased or decreased on any single Change Date by mote than �tuo percent ' from the rate of interesm •t I hnva been paying for the preceding twelve rronctq. ti ice Ord timum interest rate on this loan will never be less than 9.5 Si and tiro maxisnum interest rate will never be greater that. � � • ' eh. (E) ElfecUve Date of Changes My new interest rate will bmamo effective on each Change Date. I %ile pay the a .punt of my new monthly payment beginning on the first rr.,onthly payment date after ilia Change Date until the amount of my monthly paymem ohaages again. (F) NotievotChanges .. The Note Holder will mull 'or deliver tome a notice before each Change Date. The notice will advise me of: (i) the new intmea rate on my loan as of the Change Date; (ii) the amount of my monthly payment foIloi/i.:3 the Change Date; (iii) any additional matters which the Note Ho "_e'er is required to disclose; and (iv) the address of the association you could contact regarL: g any questions about the adjustment notice. B. CHARGES; LIENS Uniform Covenant 4 of the Security instrument is amended to read as follows: 4. Charles; likes. Borrower shall pay all taxes, assessments. and other charges, fines, and impositions attributable to the Property which may attain apriority over this Security Instrument, and leasehold payments of ground cents, if any, in the manner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the payee thereof. Borrower shall promptly fumish Lender i all notices of amounts due udder this paragraph, and in the event Bottower shall make payment directly. Borrower shall promptly furnish to b der receipts evidencing r;rtr:ti payments. Borrower shall promptly discharge any Eei which has priority over this Security instrument; !savvever. Borrower shall Lnt; A required to discharge any such lien so long as Barr-. -•:r: (a) shat` agree in writing to the payment of the obliption m enrol by such i`sen in the'mannrr acceptable to Lender; W than in good fait:: contest such- UA by, or defend against enforcement of t -- - such lien in, legal proceedirigr,which in the apWon of Lender operate ra µanent the eaC4i%ement of the lien or °crfe,±••uo of the Property or any rwcl thereof; or (c) shall samw from the h i °;der of such 1. *t-_a :r % ogre ;te t in a ferat .atisfactory to Lender sutiadinating such lien to this Swudty Instrument. If Lender determines taliall or any."gkr: of the Priperly is Subic=to a lien which may attain a priority over this Sernrity inonirr I _ . Leader shall give Borrower a notice identil'y;og such lien. Borrower shat satisfy such lien or take one or more of the actions set forth above - within ten dnys of the oil ini, t'f the notice. C. NOTICE Uniform Covenant 14 of the Security instrument is amended to read as follows: r.. 14. Nodte. Except for any notice required under applicable law to be given in another manner. (a) any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail toBorrower at the Property Address of ai such other address ' as Btmower may designate by notice to Lender as provided herein. and (bl any notice to Lender shall be given by first class mail to I ender'% address stated herein or to such outer addrtss as Lender may designate by notice to Hurro%er as provedtd herein. Any nonce pi,u•tded foe in thin ScE.urnry Iastrumcrnt shall bt deemed to have heed given to Borrower or i.euder whin giticn in the niannrr deugnated.hcrcut