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<br />ADJUSTABLE RATE RIDER
<br />(I War Treavurylndct- RuteCaps) ' 89— 102770
<br />THIS ADJUSTABLE RATE RIDER is made this 24 day of May
<br />and is incorporated Into and &hall be deemed to amend and supplement the Mortgage. Deed of Trust, or Security Deed (the "Security
<br />r Itutrument ") of the same date given by the undersigned (the "Borrower ") t° secure Borrower's AdJustable state Note (the "Note ") to 0111E
<br />i FMML AWN08 A LOAN "SOCIATiON OF DRANO ISLAND NEBRMKA (the "Lender ") of the same date and covering the
<br />property described in the Security Itutntnttnt and located at
<br />2404 GatEway Avenue, Grand Island, Ne 69803
<br />(Property Address)
<br />Thla sole contain pmvWoms ali'owing for cbsyl ca is my Intereal rate mad my t><ctmtl*
<br />paymeats. This note also [limits tRe amount my Interest rate can change at any °ae tinge Disci!
<br />also the mdelnaa aad'tk ttaaMman rate I must pay.
<br />ADDITIONAL COVENANTS. In adJ1i:1t ;-ran. to the 4Iavenants and agreements made in the Security Instrutaeo4, Borrower and Lender
<br />further covenant and agree as follows:
<br />A. INTEREST RATE AND MONTHLY JPATMENT CHANCES
<br />The Note provides for an initial interest rate. of 1 Q . t%..__y_ ee * —bon 4 of the Note provides for
<br />monthly paymenu. as follows: changes u� rche interest rate and the
<br />4. INTEREST RATE ANA MONTHL Y PA YMENT MANGES,
<br />(A) ChalpW ipain
<br />The Inti!!Mr l J ,Xle I will pay may change on the first day o , and vsa ;day every
<br />montr� (hereafter. f ash date on cab! ",h cry interest rate could change is called a "Change Date."
<br />(R) TMe lades
<br />Beginning with the first Change Date., mx/ interest rate will be bassets ern an Index. The "Index" is the weekly average yield on United States
<br />Treasury securities adjusted to accrrstagt; wry.Uhty of I year. as ntw$eac:� fable by the Federal Reserve Board. The most recent Index figure
<br />available as of the date 45 days ucau.tr CS'
<br />nge Date is:vailbd the','Onrient Index."
<br />It the Index is no longtrr 4�4. iabi,e. the Note Holder will chooser it'new index which is based upon compara.Kv information. The Note
<br />E+blder will eve the notice of this choice. •
<br />(C) Cafkwhitloa of Changes
<br />Before each Change Date, the Note Holder will calctthu,e my new interest rate by adding Lwn and nne hr a 1 f
<br />points ( 2.5 sell to the Current Index and roturrili.4 to the nearest 1 /8th of 1 %. subject to the limits stated in Sec nod percentage
<br />This rounded amount will be my new interest rate until the nest Change Date. �) SOW'
<br />T'-=' Mal-- :.iii : Ka &icrminc the amount or rite monthly payment that would be suffcicttt to repay in sup the principal 1 am
<br />exttected to owe on that Cn�tt a D,.te in str►•eu� i,lry equal pa meats by the maturity date at my new interest rate. The result of this calculation
<br />will be the new amount of my monthly payment.
<br />(D) Umita on Interesl Rate Changm
<br />8.0 The interest rate I am required to pay at th= :1;rr Change Date will not be greater than 1
<br />ee. Thereafter. my interest c¢.e will never be increased rr, increased on an single �--- -� or less than
<br />{—r_ icotit the rate of interest I haonL'teen preceding Y ngleChange Date by more than two nerrerst
<br />paying for the recedin twelve months. The minimum interest rate on this loam wiiQ never be
<br />less than ._B. 00 re tend the maximutrf interest rate will never be greater than 15.0
<br />(E) Etfwd* Date of eEiaagea
<br />My new iXeast rate will became effective on each Change Date. l will pay the amount of my new monthly payment beginning on t9 a first
<br />monthly payattras elite after the Change Date until the amount of my monthly payment changes again.
<br />M Notice or Gattgea
<br />The Note Holder will fn"'or deliver tome a notice before each Change Date. The notice will advise me of:
<br />(ill the new interest rate on my loan as of the CI!:artge Date;
<br />(ii) the amount of my monthly payment fonoxwing the Change Date.
<br />(iii) any additional matters wtucb the Note Holder is required to disclose; and
<br />(iv) ft address of the association you could cor.!act regarding any questions about the adjuitment notice,
<br />D. CHARGES; LIENS
<br />Uniform Covenant 4 of the Security Instrumenr. isamended to read as follows:
<br />4• Eger. UAerar,. Borrower shall pay all taxeNassessments, and other charges, fines, and impositions attributable to the Property which may
<br />attain a priority over this Security instrument, and lraseholG payments of ground rents, if any, in the manner provided unxfer paragraph 2 hereof
<br />ar; if not paid in such manner, by Borrower making paynterc when due, directly to the payee thereof. Borrower shall promptly furnish Lender
<br />tic notices of amounts due undff this paragraph, and in the,ment Borrower shall make payment directly, Borrower shall promptly famish to
<br />Lender receipts. evidencing such payments. 1'4.orcower shall promptly disr7'zrge any lien which has priority over this Security Qitrument;
<br />however. Borrrru&er shall not be required rw dischuge any such lien so long as Borrower: (a) shall agree in writing to the paytY,tnt of the
<br />obligation secured by such lien in the manner ay:ceptable to Lmider; (b) shall in good faith contest such lien by. or defen4`,gain3t Wbfeement of
<br />such lien in, legal proceedings which in the ophtunzt of 1 ead!!r Operate to pled Zot the enforcement of the lien or forfeiture of the l ik*9rty ar any
<br />put thereof; or (c) shall secure from the hofi er of such lion an sgreer►ieW. in a form 17en satisfa
<br />Security Instrument. ctory to Lender subordinating svcktt to this
<br />If Leader determines that all or any pan of the Property is subject to a Gen which may attain a priority over this Security Instrument,
<br />Lendet shall give Borrower a notice identifying such lien. Borrower shall satisfy such lien or take one or more of the actions set forth above
<br />within ten days of the giving of the notice.
<br />` C. 'tiOTICIr
<br />j,.. t.nrform Covenant 14 of time Securty Instrument Iti amended to read as follows.
<br />N. %Wke. Except for any twine requited under applicable law to be grsen In another manner, (a) any notice to Borrower pf(neded for In ihrc
<br />Scrurtty Instrument shall t he green by de
<br />lnrnng It tst by rnarlfng It try first class marl to Borrower at tilt Property Address or at such,+ehe, address
<br />All Etrnrurer may drsrgnate by nutrce tr, 1 e"drr a. pnr.,ded herein, and thi an., nonce u) I ender ahaJI he green h) first class mail ta, I cc),,�,
<br />a.tdrr,tc Dated hrrem„r r„ ar.,h..rr..r salrr 3c 1 t r,dc, ,nay drvrpna►e t+t norue u, Bf- rrower as p -us rded hefeu, Ares n „race rrr„ ;deti fill .r 11„
<br />�n ;Inry (ruru"renr shall he imn'tct r„ trans t. -en F—eu rn fknrnwr- „r 1 rrrJer %hen a,.en ,n rlIt ":'Inner dr%ignated f,ere:r,
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