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ADJUSTABLE RATE RIDER 59- 103938 (I Year Treasury Index-Rate Caps) THIS ADJUSTABLE RATE RIDER is made this 31 day of July —.1989 and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security It'gtrutnettt ") of the same date Given by the undersigned (th; - Borrower") to secure borrower's Adjustable Rate Note ((he `•Note l to HOW FEDERAL BAVIM i LOAN AESOC16TION OF GRAND ISLAND NE6RASKA (the "Lender ") of the same date and covering the property described in the Security Instrument and located at: ra—k- ( ropenyAddress) Tbla malls team," prer(rNar "*Wks for ehangaa Is my harm fall and sty molly pymm". Tbia taw alas Modh the anevist nay Intemll rate can eage at any one ultras and silo I" t WAssim a all the Inaaimnm raw 1 mast pay. ADDITIONAL COVENANTS. in addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. INTISJUM RATE AND MONTHLY PAYMENT CHANGES 1 : The Note provides for an initial interest rate of 8.50 %. Section 4 of the Note provides for chances in the Interest rate and the monthly payments, as follows: 4. INTEREST RATE AND MONTHC Y PAYMENT CHANGES , (A) Change Data The interest rate I will pay may change on the first day of August , Ig 90 , and on that day every ttde lroe months thereafter. Each date on which my interest rate could change is called a "Change Datw." (B) The lace: Beginning with the first Change Date, mg interest rate will be based on an Index. The "Index'." Is the weekly average yield on United States Treasury securities adjusted to a constant mitturity of 1 year. as made available by this Federal Reserve Board. The most recent Index figure availabk as of the date 45 days before each Change Date is called the "Current Index, If the Index is no Id*w- available, the Note Holder will choose a new index which is btsed.upon comparable information. The Note Holder will give tae notice df this choice. (C) Cdtwwm of Chum" Before Bich Change Date. the Note Holder will calculate my new interest rate by adding two and orza/hal f .a r pvittcs ii r5 - R) to the t,.'urrent Inset and Munti tig fd the beurUt 1711th of 1%. subject to the lintitogated in Section 4(D) b&*. — - i This rounded'ntaount will be my new interest rate until the next Change Date. I The rate Holder will then determine the amount of the monthly payment that would be suffi lent to repay in full the principal I am 1 expected to owe on that Change Date in:sctbstandally equal payments by the maturity date at my new ia,erest rate. The result of this calculation j will be the new amount of my taimthly payment. (1 (D) Urdu on latereirt Rob CUa"M The 5intimat rate I am required to pay at the first Change Date will not be greater than 1f1,5 _% or less than ' _..9s. Thereafter, my inteitst rate will never be increased or decreased on any single Grange Date by more than two percent 2.0) fil=m the rate of interest I have been paft for the preceding twelve months. The minimum interest rate,on this loan will never be less than 6.50 %and the maximum interestFamwill never be greater than 13.5 rye, (!O E,Reethe Dale of Chages My new, Interest rate will become eKecdve on each Change Date. l will pay the amount of my Gen; tn�ntthly payment beginrj:ag on the first monthly payment date afterthe Change Date until the amount of my monthly payment changes again, (t) Notice of citriteff The Note Holder wiliti iO or deliver tome a notice before each Change Date. The notice will advise me of: } (b). the neSw fa*est rate on myloan as of the Change Date; !r (H) the amounr of my monthly payment following the Change Date; r (Ili) 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. N. CHARG=ES; LIENS Uniform Covenant 4 of the Security Instrument is amended to read as follows: 4. Chafgts; Liens. Borrower shall pay all taxes, assessments. and other charges. fines. and impositions attributable to the Property which may attain a priority over this Security Instrument, and leasehold payments of ground rents. if any, in the manner provided under paragraph 2 hereof or, if nee paid in such manner, by Borrower making payment. when due, directly to the payee thereof. Borrower shall promptly furnish Lender all notices of amounts due under this paragraph. and in the event Borrower shall make payment directly. Borrower shall promptly furnish to Lender receipts evidencing 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 Pad 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 Leader 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 of the notice. C. N071(.'f_ uniform Covenant 14 of the Security Instrument is amended to read as follows. 14. No". Except for any notice required under applicable law to be given in another manner. (a) any notice to Horrowcr provided for in this Security instrument shall be giten by delivering it or by mailing it by first class marl to Borrower at the Property Addretti or at such rattler address as Borrower may designate by notice to I ender as provided herein. and (b) any notice to t ender shall he given bt fir qt da, , mail to I ender' - address stared herein or to tuch rather address ai Lender inn} dc ,ign ate by notice to Hurrower as prat+. aded herein A,i% nitn.c pto%ided for in chit Securely Instrument shall be dcrnzed to hate been given to Mornruer or t enckr when gucn its the rnanncr de;!hr+,,ted hc. cni r t �W l�