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ADJUSTABLE RATE RIDER 89--- 103268 (I Year Treasury Index -Rate Caps) THIS ADJUSTABLE RATE RIDER is made this 21 day of June 19 89 and is incorporated into and shall be deemed to amend and supplement the Mortgage. Deed of Trust, or Security Deed (the "Security 1 Instrument ") of the same date given by the undersigned (the "Borrower ") to secure Borrower's Adjustable Rate Note (the "Note') to HOME 1 FEDERAL BAVINOS g LOAN USOCIATION OF GRAND ISLAND. NEBRASKA (the "Lender') of the some date and rnveft the property described In the Security instrument and located at: #21 Kuester's Lake, Grand Island, Nebraska (Property Address) This tote contalm previelm allowing for changes In my lateral ate and sty mtoathly pytltaeats. This mote also digital the ammat sty interest ate can change at any one tine and aUo the almhattaa aN the esaa►iataa ate 1 meat pay. ADDITIONAL COVENANTS, In addition to tote covenants and agreements made in the Security Instrument. Borrower and Lender further covenant and a(tree as follows: A. INTEREST RAIM AND MONTHLY PAYMENT CHANGES. The Note provides for an Initial interest rate of 12.75 ?ri. Section 4 of the Note provides for changes in the interest rate and the monthly payments, as follows: 4. INTEREST RATE AND MONTHLY PAYMENT CHANGa . 1 (A) CWW Dadra The interest ate I will pay may cba* on the first day of _fit it y ,19 _ 90 . and on that day every - tiAlelve tr oarths thereafter Mach date on which my interest rate a r"M change is called a "Change Date," ' (U The Imtlex Beginning with the fiat Change Due. my interest rate will be based on an Index. The "Index" is the weekly average yield chit United States Treasury securities adjucted to a constant maturity of I year, as made available by the Federal Reserve Board. The most trot tit Index figure available as of the date 0 days before each Change Due is called the "Current Index." If the Index is no leaner available. the Note.Holder will choose a new index which is based upon cottt�ut(tie info emation. The Note Holder will give we noticee of this choice., (C) Cdk1tlaUon of 4lamgam Before each Change Date, the KOW-Holder wW 5alculate my new interest rate by add:gs _ three and one /half pe�u. points ( -4 , R w-% to the Citt tt Index and founding to the nearest I tSth of I %, subject to the limits stated in Section 4(D) below. Thin rounded amount will bemynew- interest rate unt1themett Chanu_e Date. -- — - - The Note Holder will then determine the amount of the months _ _. y payment that would be sufficient to repay in full the principal I am expected to owe on that Change Date In substantially equal payments by the maturity date at my new interest rate. The result of this calculation will be the new amount of my monthly payment. (D) Units on Intaed Rate Changes &hetpterest rate 1 am required to pay at the first Change Date will not be greater than �q 75 n, or less than %. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than two percent ;o - n from the cue of interest I have been paying for the preceding twelve months. The minimum interest rate on this loan will never be less than A- ❑ % and the maximum interest rate will never be greater than 16.0 q, (E) EffectiveDalk4Chaages My new interest rate'will becomS effective on each Change Date. l will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change prate until the amount of my monthly payment changes again. (Y! Notice of Chrat1111es :< The Note Holder wvi)EttsauIr 04¢k ver tome a nocece before each Change DzW. The notice will advise me oh (i) the nevi - ta:erest rate vin my loan as of the Change Date; (ii) the amount of my monthly payment following the Change Date; ('iii) any additional matters which the Note Holder is required to disclose; and .(iv) the address of the association you could contact regarding any questions about the adjustment notice. lk CHARM; Ili" Uniform 03v-errant 4 of tht<Security Instcua•;erit its ascended to read as follows: 4. C lwvii: fiefs. B0n`0W r shall pay alf taxes, assessments, and other charges, tines, and ir;�, its ors attributable to the Property which may attain a priority over this Security Instrument, and iim- 0110ld payments of ground rents, i f any, in the manner provided under paragraph 2 hereof or, if not paid in such n= ner, by Borrower making: pl Ment, when due, directly w,the payee thereof. Borrawc :!g it promptly furnish Leader all notices of amounts due under this paragraph. Anil' Ili the event Borrower shatirtalte payment directly. 8.d=wer shall promptly furnish to Lender reCdXsevidencing such payments. Borrower shall promptly 'discharge any lien which. has priority over this Security Instrument; however, Borrower shall not be required to discharge 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 the lien or forfeiture of the Property or any part thereof; or (c) shall secure from the holder of such lien an agreement in a form satisfactory to Lender subordinating such lien to this Security Instrument. If Lender determines that all or any part of the Property is subject to a lien which may attain a priority over this Security Instrument, Lender shall give Borrower a notice identifying such lien. Borrower shall satisfy such lien or take one or more of the actions set forth above within ten days of the giving or the notice. C. NOTICE. uniform vovewt I4 of the Security Instrument is amended to read as follows: 14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrover pro%lded for to thi% Security Instrument shall be given by delivering it or by mailing it by first class mail to Borrower at the Property Address or at Suchill her address as Borrower may designate by notice to Lender as provided herein, and tb) any notice to I ender shall b: given by lint vla,% marl to i ender'% address stated herein or to such other address a% Lender maydesignate by notice to ltorro%%er as provided herein. Any notice prm idcd till rn 1h1i Security lnsttunrent shall be deerned to have been glsen in f1wrmser or 1 ender %%lien raven in the manner v1c.rf•nale.1 bereiu. 11 "'..r r r r i r' i' "'..r r r r i r'