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<br />gg,_ 10358 1
<br />ADJUSTABLE RA'Z'E RIDER
<br />(1 fear Treasury Indct•RateCaps)
<br />THIS ADJUSTABLE RATE RiDFk is made this __ If) day of .. � _144y__ _„ _ _._ .14._ �
<br />and is incofpotaed into and shall be deemed to amend and xuppleutenl the Mortgage. Deed of Trust. of Security Deco (the "Security
<br />Instrument") of the sane date given by the undersigned (the "Bsstnowet ") to wuze Borrowier's Adjustable Rate Note ((he "Nate "). to H
<br />MX01 I AYIN" A LW MMAR2L4 OF GRAND I,}LANO, NFBRARKA (the "Lender ") of the same date and covaitlg 111ti
<br />property described in the Security lastrutnent and hrcated at:
<br />116 East Sth Street. Grand Island, (1te
<br />(Prowrty Address)
<br />Ilia aria eratairs Provisions no wl" for changer to ray law*" rata and my ttta _*h
<br />Payments. This stale do NOW the afoot et sty laleme role can change at say a w titan anti
<br />she on ahtlaun am the vWxltntaa rate 1 oast Pay.
<br />ADDITIONAL COVENANTS. in addition to the covenants and agreements made in the Security Instrument, BortnWier ens) Lender
<br />further covenant and agree as follows:
<br />A. IN UNST RATE AND MONTHLY PAYMENT CHANGES
<br />The Note provides for an initial interest rate of �•� 4b. Section 4 of the Note provides for changes in the intemst rate and the
<br />monthly payments. as follows:
<br />4. lNiJfISarRAiB AND MONTHLY PAYAfENr CHANG£s
<br />(A) Cheap now..
<br />The interest rate 1 will pay may chantse on the first day of AuGU &t ,19 90
<br />and an that day every
<br />tt,rnl sup months thereaftim:; Each date on which my interest rate could change is called it "Change Date."
<br />m The latices
<br />Beginning with the first Cl urge Date, my interest fate will be based on an Index. The - Indett" is the weekly average yield on United States
<br />Treasury securities adjured to a constant maturity of 1 year, as made available by the Federal Reserve Board. The most recent Index figure
<br />aaailable as of the date4S days before e0ctttbarige Date is called the "Current index."
<br />If the Index is no longer available., il>e Npte Holder will choose a new index which is based; upon comparable infomnatie2it, The Note
<br />.'Holder wigsive tae taotiae of this choice.
<br />(C) Litlmlrlks of Chip"
<br />Before each Change Dote, the Nate Hokf r will xaitztlate my new interest rate by adding two and Ono calf Jaercrntue
<br />pouffes L___2_5 !tt) to the Curra di Iiukx.aud rotendigg to the neared if th of 1tilt, subjeci to the limits noted in SCCtir= 40 below.
<br />This rounded amount will be my new intarit� rite until the next Change Date.
<br />The Note Holder will•th.en determinib the amount of the monthly payment that would be sufficient to repay in full the principal I ate
<br />e,pwed to owe oft that LIM46i vate in substantially equak payments by the maturity date at my new interest rate. The result of this calculation
<br />will be the new amount of ttry mentttly, gay rent.
<br />(D) LAN" tolalersstRsieft"
<br />7.( I'he interest rate 1 am required ro pay at the first Change Date will not be greater 'than �,„•, or less than
<br />3 %. Thereafter, my interest rate wilt rnt✓m be increased or decreased gn.any single Change Dabs by Purace than t� percent
<br />from the rate of interest I have been pat t•ir�ror the preceding twelve m< taft, The minimum inters a.ritt on this loan will never be
<br />kiss than 7.0 % and the maximum interest rate will never be greater than 14.0 ,7i
<br />(Q Effafire Dale of ttaaaga
<br />My stew interest rate will become effective on each Change Date. 1 will pay the amount of my nxw monthly payment beginning on the first
<br />monthly payment date afterdw Change Date until the amount of my monthly payment changes again.
<br />(h) No" of ChaaSo
<br />The Nate Holder will nail or delis% ter ,rote a notice before each Change Date. The notice will a%ise me of:
<br />'41 the new interest rate cif ncy*•loan as of the Change Date;
<br />(W1 the amount of my monthly payment following the Change Date;
<br />(iii) any additional matters which the Note N•%&r is required to disclose: and
<br />fiv) the address of the association you cosldcointact tegaz•4tsR any questions about the adjustment notice.
<br />IL CHARGES: LiENS
<br />Uniform Covenant 4 of the Smitity Instrurmnt is attended to read w f oilows:
<br />4. Charlm Baas. Borrower shall pay all taxes, assessments, and other charges, fines, and impositions attributable to the Property which may
<br />attain a priority over this Security Instrument, and leasehold payments of ground rents, if any, in the manner provided under paragraph 2 hereof
<br />or. if not paid in such manner, by Borrower making payment, when due. directly to the payee thereof. Borrower shall promptly furnish Lender
<br />all notices of amotints due under this paragraph, and in the event Borrower shall make payment directly. Borrower shall promptly furnM to
<br />Leader receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Security instrument;
<br />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
<br />ebiiption secured by such lien in the manner acceptable to Lender; tb) shall in good faith contest such lien by, or defend against enforcement of
<br />stitch lien in. legal eroceedints which in the npinion of Zenner a Berate to pTe"rit the enforcement of the lit:r. or forfeiture of she Property of any
<br />part thereof; or (c) shall secure from the holder of such lien an agreement in a form satisfactory to t ender ruh-rdinating such lien to this
<br />Security Instrument.
<br />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,
<br />Lender shall give Borrower a notice identifying such lien. Borrower shall satisfy such lien or take one or more of the actions set forth atrove
<br />within ten days of the giving of the notice.
<br />C. NaTWU
<br />Umfurm cosenaru t4 of the security Instrument is amended to read as failtm;
<br />14. Ne for. t tccpt for any notice requited under applicable law to tic gtsen in another n, nn::, 01;11)y cot,,c to Bnrroucr protidrd list ro this
<br />Security Instrument shall begiten bydeltvettng it or b. ntatlirigit by hot ti;it.trtailto 11orn -ems a the fm; -ctrl Addtct%or at su.h.,the, adder.•
<br />as tk,rroxer trai do -ugnme h) :urtrcc!o f cr,dte a: prusi.i:d hcrcu,. and (h►ary no:r.c h, I crtJcr .tun! I,c grscu bs ' rat ,ti,, nr<„ It. , t rest;,
<br />aadreis stale hymn or in .,t :h falter a.1lic", ds I CC.Ar :,,a. ,iri,1;,IJr.^ t,s 1`11 ht if Itutt„at t : _rd lj -,C.^ ;ns r,• ., t•• - ...: ,..
<br />Gc.t,titr Ir tru t,tat Jtaii ttic dcra::,1,:, t::r.c R, c r, c, ", !,, 11, 1,%C. r.r I e! !-I, ;n
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