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:7 0984125 -9 ADJUSTABLE RATE RIDER (11th District Cost of Funds Inde% —Rate Caps) 89M- 102848 THIS ADJUSTABLE RATE RIDER is made this ,,,,1st.,, day of- June.,, 19g! .......... and is incorporated into and shall he deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the "Security Instrument ") of the same date given by the uVersigned (the "Borrowe ") to secure Borrower's Adjustable Rate Note (the "Note ") to .,,CoFaereial „Federa,Mortj; R&�.Corptratton ... .. ........ .............. ............................... (the "Lender ") of the same date and covering the property described in the Security Instrument.and located at: 3107 Brentwood Blvd Grand island, NE 68801 ....................................................................................................................................................... ............................... (Property Address) THE MOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE THE BORROWER MUST PAY. AtitimoNAL CotErtsrirs. in addition to the covenants and agreements made in the Security Instrument, Borrower and Lender funher covenant and agree as foltews: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of. 9 .-.12 5„ %. The Note provides for changes in the interest rate and the monthly payments, as follows: 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The interest rate I will pay may change on the first day of duly 19 90 12t ....., and on that day every 1honth thereafter. Each date on which my interest rate could change is called a "Change Date." (B) The Index Beginning with the first Change Date. my irnetest rate will be based an an Index. The ” rndex" is the monthly weighted average cost of savings. borrowings acrd. advances of members oc titc FWeral Home Loan Bank of San Francisco (the "Bank "). as made available by the Bank. The most recent )Index. figure available as of the date 45 days before each Change Date is called the "Cirmat Index." If the Index is.no longer available. the NNote Holder will choose a new index that is based upon comparable 'f"he ittfointattan. Note Holder will give me notice of this choice. (C) Ca"Ittion of Changes TWO Before'each Change Date, the Note Holder will calculate my new interest rate by adding and 87..... g ....................... - 2.875 .. .., ............... percentage points (.............,...°b) to the Current Index. The Note Holder will then round the result of. this addition to the nearest one- eighth of one percentage point (0.125%). -Subject to the limits stated in Section 4(D) - below. this rounded amount will be my new interest rate until the next Change Date. The Note Holder will then determine the amount of the monthly payment that, would be sufficient to repay the unpaid principal that I am expected to owe at the Change Date in full on the maturify date at my new interest rate ,.in'substantially equal payments. The result of -this calculation will he the new amount of my monthly payment. (D) $. mits on Interest Rate Changes The 'iriterest rate 1 am required to pay at the firsr Change Dace will not be 10.L2S greater than ....._...,,._......°� . or less than 3.9.1.25%. Thereafter. my interest rate will never be increases or decreased on any single Change Date by more than QN>r..amd..NQ /.lOQQ. percentage point(s) (..(.1000 %) from the rate of interest I have been paying,for the preceding ......12.. months. My interest rate will never be greater than 12.,i25o,6 (E) ERective Date of Changes My new interest rate will become effective on each Change Date. I will pay the ameurtt of my new monthly- pay ment beginning on the first monthly payment date after the Change Date until the amount of my monthly payment ciratnges again. (F) Netliee of Changes The Note Holder will deliver or mail to me a notice of any changes in my interest rate and the amount of my monthly payment before the effective date of any change. The notice will include information required by law to be given me and also the title and telephone number of a person who will answer any question I may have reprding the notice. B. TRANSFER OF THE PROPERTY OR A BENEFICIAL, INTEREST IN BORROWER Uniform Covenant 17 of the Security Instrument is amended to read as follows: Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural sums secured by this Security Instrument. However, this L person) without Lender's prior written consent. Lender may, at its option, require immediate payment in full of all option shall not he exercised by Lender if exercise Is prohibited by federal law as of the date of this Security Instrument. Lender also shall not exercise this option if: (a) !grower causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made to the transferee. and (h) Lender tin reastmahl% determines that Lender's sccurm. will not he impaired by the lean assumption and that the risk (it a breach of any co, enant iir agreement to this Secunt4 i!'s� Instrument IS :tic eptahf,• tr► ! Fret * :. r' ._ W"ISTATE ADJUS"01'r "re nl"M --COV IMMK— 3Ongio rnmrr- -Fenno* Use,Froddv his; umrnrn, a,r,trun,ent Room 3 110 7Igo