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1 ADJUSTABLE RATE RIDER 10449 (I Year Treasury Index-Rate Caps) 89� THIS ADJUSTABLE RATE RIDER is made this 25th day of July . 19 89 , and is incorporated into and shall be deemed to amend and supplement the Mortgage. Deed of Trust, or Security Deed (the "Security given fined (the "Borrower ") to secure Borrower's Adjustable Rate Note (the "Note") to f ME i Instrtmoeat ) of the same date v en by the uttdersi FEDERAL SAVINGS A LOAN ASSOCIATION OF GRAND ISLAND, NEBRASKA (the "Lender ") of the same date and covering the property described in the Security instrument and located at: #59 Kuesters Lake, Grand Island, Nebraska (Property Address) This most contain provisions albwing for craw in tq laterest rate sod ray monthly psymesh. Thb note also Balls the amount my Intemt rate can eras=e at any one time ant also the mitsiasm and the to W"m rate 1 most 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. iN7VJM RATE AND MONTHLY PAYMENT CHANGES The Notp provides for an initial interest rate of 1 . 0 %. Section 4 of the Note provides for changes in the interest rate and the Mont* patyments, as follows: r 4. !MEREST RA1*E A VD 1NQ1VTHLY PAYMENT CHANGES (A) Cluesge Dsi t The interest rate 1 will pray may chkuge on the first day of August , 119 9O . and on that day every wpl lip months therea:tta;r. Each date on which my interest rate could change ks ealled a "Change Date." (1) 7u htttllex Beginning with the first Change Date, my interest rate will be based on au. Index. The "Index" is the weekly average yield on United States Treasury securities adjusted to a constant maturity of I year, as made available by the Federal Reserve Beard. The most recent Index. figure *%*IbSe its of the date 45 days befarte aa^.h Change Date is called the "Current Index." It Ow index is no longer avaita ilie. the Note Holder will checose a new index which is tasesi: upon comparable infogcnation. The Note Holder,Wat give the notice of this ch&ce. (a+ Calewfidi eofCimwo • .90bre each Chance Date, the Note Holder %viIl calculate my new interest rate by adding three percentage parrs {, sn 9b) to the Cutrent index and roundinit to flu nearest I/8th of 19s, subject to the Limits stated in Section 4(D) below. ! This rounded amount will be my new interest rate until the next C' hange Date. The Note Holder will then determine the amount of the monthly payttlent that would be sufficient to repay in full the principal I am exp ved to owe on that Cbanoe Date in substantially equal payments by the .'7i miff ity date at my new interest rate. Tice moult of this calculation will be the new amount of my monthly payment. ()iD) uni to on Interest Rafe Craaga The interest rate I am required to pay at the first Change Date will not be greater than 1; _ 0 or less than i 9.0 sXi. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than percent 1' 2.0) front tine rate of interest I have been pcs.}ing for the preceding twghm months. The minimum interest rate on this loan will never be less than 9.0 sib and the maximum interest rate will never be greater than 1 •0 hi. (E) Etfeedve Date of Cragerr My new interest rate will beware effective on each Change Date. I will pa -vtli.: amount of my new moatbty payment begirt : g on the'virst monthly payment date after the Change Date untiltthe amount of my rut nthl i j9ayment changes again. (F) • Notice of Changes Tare Note Holder will mail or deliver to me a notice before etch Change Date. The notice *•J advise me of: (i) the new interest rate on 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. s. CWiRG' See LIENS Uniform Covenant,46f the Security Instrument is amended to read as follows: 4. C4rges; Uens. Borrower shall pay all taxes, assessments, and other charges, fines, and impositions attributable to the Property whi&m.ay 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 not 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 tinder this paragraph. and in the event Borrower shall make payment directly, Borrower shall promptly futlislt 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 Lander; (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 of the notice. L~% C. N(Vt10E Uniform Covenant 14 of the Security Instrument is amended to read as follows: 14. Notice. Except for any notice required under applicable law to be giver, to anu :her manner. (a) any notice to Borrower pro%rded for in Chi% Security Instrument %hall be gfoen by delivering it or by mailing it by ftr.t klass marl to Borrower at the Property Addre% %or at %ut h other addrrs. as Borrower may designate by notice to I ceder a•'. hcrern. and IN any notr%c to k cndcr shall he gt%cn by Ent rla %, marl it) 1 cndcr'% addre% %stated herein or to su.h uthcr addre ;% a% I cr.,ler era, dt•.trtnate by pwI. c I BNrr%luCr .r% prt.%rded herein •fns norr%c rr.,%:dt -J t+ r nr ihn Sc. ul rIV Instrument %hall be dcemcd I ha%c r,ccn vt % %r, ro lit .- r.,urr r-r I red r t% 1, r, , %; n u: me n. .1nncr d,.r z rased hr ri ur a>r �s �s I--