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<br />ADJUSTABLE RATE RIDER 90-105567
<br />0 You Treasury Indox•Rate Caps)
<br />THIS ADJUSTABLE RATTI RID13R is nude this 17 day of __ Sep ember , 19 90
<br />std is Incorporated into and shall be doomed to amend and supplement the Mortgage, Deed of Trust, or Security Dead (thu "Security
<br />Instrument ") of the same date given by the undersigned (the "Borrower ") to secure Borrower's Adjustable Rate Note (the "Not ") to UM
<br />FMMMU BAVINOS a LOAN ASLSOCIATION OF GRAND ISLAND. NE §,$.Atha "Lender ") of the same dame mail covtirisrg the
<br />property described in the Sscusity Imiruirmt attd located at:
<br />224 S. Sycamore, Grand Island. NE 68801
<br />(Property Address)
<br />This mote ctntlalsts provisions allowlq for clients In my Interest rate ud my miss "Y
<br />pyments. This mote On IWts the awe" oay im ud raft COIN cbmne 01 may cam titae mad
<br />am the Wildman nail do smadaman rata I ssmst pal.
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<br />ADDITIONAL COVENANTS. In addition, to the covenants and agreements rustle its the Security Insuumtm. Borrower acrd Lander
<br />+ tfilatlstr at�amt and agree as follows:
<br />A. IMI'68l W RATE AND MONTHILT f AYMINi CHANGES
<br />The Note provides for an initial interest rate of 11.5 _ws. Section 4 of the Note provides for changes in the ittterat rate and tea
<br />mmtMy payments. as follows:
<br />4, INTEREST RATE AND MONTHL Y PA VMBNT CHANGES
<br />(A) Chop Dallas
<br />The interest rate 1 will pay may change on the first day of F oher , 19 91 _ . and on that day every
<br />I.-W we 2) __ months thereafter. Each date on which my intaim rate could change is called a "Change Date."
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<br />(B) I% IMO
<br />Beginning with the first Change Date. my interest rate will be based on an Index. The "Index" is the weekly average yield on United States
<br />TYeasury securities adjusted to a constant maturity of I year, as mnOw araiiabie by last Federal Itwerve mss. The itiou taoneut Ind" figure
<br />' available as of the date 45 days before each Change Date is called the* tCurrent Index. "
<br />If the Index is no longer available, the Note Holder will choose a new iadex WWch is based upon coxttpsatatale )nfortmowroa. The %Ole
<br />Holder will give me notice of this choice.
<br />(C) Cakaladoa of CYaages
<br />Before each Change Date, the Note Holder will calculate my new interest rate by adding three aril carte half (3.5) percentage
<br />points ( 3.5 %) to the Current Index and rounding to the nearest 1 Bib of I %. subject to the limits stated in Section 4(D) below.
<br />I t1s rounded amount will be my new interest rate until the next Change (late.
<br />The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay in full the principal I am
<br />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
<br />will be the new amount of my monthly payrsettt.
<br />i (DI Lldls w law"" Naas Climm a
<br />ria interest rate I am required to pay at the first Change Date will not be greater than 13.5 tip or ten than
<br />9.5 41s. Thereafter. my interest rate will never he increased or decreased on any single change Date by more than W Percent
<br />(2_M) has the rate of interest 1 have ban paying for the preceding twelve months. The minimum interest rate on this lose will never be
<br />ku thaw r �� _sAi and the miudmum interest rate will never be grater than 16.0 9s.
<br />(E) gl adve Date of Chasign
<br />My new interest rate will become effective on each Change Date. 1 will pay the amount of my new monthly payment beginning on the first
<br />monthly payment date after the Change Date until the amount of my monthly payment changes again.
<br />(F) Nils" of Craaga
<br />The Note Holder will hail or deliver to me a notice before each Change Date. The notice will advise me of:
<br />(i) the aesi smertst rate on my loan as of the Change Date;
<br />(if) the ausotatt of my monthly payment following the Change Date;
<br />(iii,) any additional matters which the Note Holder is required to disclose; and
<br />wif the address of the a unci ttion yw eftU3 contact rep-.log any questions about the adjustment .bike.
<br />IL CHARGESI'A 6
<br />Ualform Coveaun 4 of the Security Instrument 1s amended to read at follows:
<br />4. Chngw; Lim. Borrower shall pay all taxes. assessments, and cithm charges. fines. and ispustritmis attributable to the Property which may
<br />attain a priority over this Security Imtrurnent, and leasehold payments of ground rcw-;. d any, in the manner provided under paragraph 2 hereof
<br />or. if trot odd in such manner. by Borrower making payment, when due, directly to the payee thereof. Borrower. shag Promprly furnish Lcwkr
<br />all notices of amounts due under this paragraph, and in the event Borrower shalll make payment directly. Burrower shall promptly furnish to
<br />Ltwda receipts evidencing such payments. Borrower shall promptly discharge any lien who h has promIry over this Security Instrument;
<br />however. Sonotte shall not be required to discharge any such lien so long as Horrower: is) %hall agree in writing to the payment of the
<br />obiipitiom secured by such lien in the manner acceptable to Lender; IN shall in good faith contest such lien by, or defend against cnfouvinetn of
<br />such Lreo in. legal proceedings whilst in the opinion of Lender operate to rre%ent the enforcement tit the lien or forfeiture of the Progeny or any
<br />part thereof; or (c) shill seem from the holder of such lien us apeetnent to a form uathfutory to I.ender subordinating such lien to this
<br />Security lostru ment.
<br />If Lender determints that all or any part of the Propetty is %uhdeo tit a hen which may attain a priorty over this Security Imtrument,
<br />Leader stWl give Borrower a notice identifying %"h lien Hoxrowet shall samh %wh lien ar take trtt rr entire tit the at om •el tutih alitne
<br />witiilm tesi days of thegivinS of the nonce.
<br />LC. N(YFK*f:
<br />Unifosni Votenant U of the %evurny Instrument is arnentled a. read a% tnitawt
<br />14. Malice. t;atept for any nr,tr.t required under spr4Kahlr IOM to tv ,Inr•n m anr•,hrt 1TIa11I1Cr, tal ant n,anr I,, Nottoorr p.,,.,Ae+d Im uI thlt
<br />Setutuy Instrummi shall he gists by actitecma it rx hr mailing n Ps drat JA%% .tad Ill Iiort.•"rr wt the 11rnr.rtt% AdJro% o, at U. 11 .,1 hrr ,tddfrt.
<br />as Bmttiwtr may tletgnate by tktlkr to 1 entder at 9,111bWed herein, and chi am n,rh.e t., 1 ender, khAll hr plt.I: h. hra ,la.• raid r.• 1 cndrt'4
<br />adrdreustattvd tweintr to %u.h of her &Wrrtt &-I cndti IuA% dh:,Itlatr r,. rn,V.r 1., 114 n Nan,+ -„ 1•1v, IrJ t —C., %r,t 1 -. •��,. ....... 1,.,l ,.,� �. •� •
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