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ADJUSTABLE RATE RIDER $9'-- 104bbu
<br />t Year Treasury index•Rate Caps)
<br />THIS ADJUSTABLE RATE RIDER is made this irl day of As ivj ant ,19_ r89
<br />and is incorporated . into and ahaU bE deemed to amend and• supplement the Mortgage. Deed of Trust, or Security Deed (the "Security
<br />instrument ") of the same date given by & odersistttd (tire "Borrower ") to secure Borrower's .Adjustable Rate Nate (the "Note ") to HOME
<br />• URM SAWMN & tQAN MRO TiON OF Of AXI) ISLAND. NEBRASKA tithe - Lender") of the same date w4 coverft the
<br />property described in the Security Insttu rnent and located car.
<br />813 -815 South Glaussen Avenue, Grand Island, Nei ;
<br />(Proptatty Addre )
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<br />ADDITIONAL COVENANTS. In additi in to the covenants and aVeements made in the Security Instrument Borrower and Lender <' �
<br />further covenant and ava as follows:
<br />A. INTMW RATE AND MONTHLY PAYMENT CHANGES
<br />9.50
<br />The Note provides for an initial interest rate of 9s. Section 4 of the Note provides for chaises in the interest rate and the. ,' ��.t :,; :r� ,
<br />monthlypsym ents. as follows.
<br />4. INTEREST RATE AND MONTHL Y PAYMENT CHANGES
<br />(A) CUW Dates
<br />The interest rate f will pay may change on the first day of September , :',P 90 , and on that day every
<br />months thereafter. Each date on which my interest rate could change is called a "Cbatte Date." .
<br />(a) 11a loft
<br />Beginning with the first Change Date, my interest rate wilt Lic l;.aso on an Index. The "index" is the weekly average yield on United States s
<br />Treasury securities adjusted to a constant maturity of i year, as =-*tC a,,Aihbte by the Federal Reserve Board. The most noent Inda.fipre '
<br />available as of the date 45 days before each Charm D&te is called the "Curnfr index." "
<br />If the index is ao longer available. the Nvw- Holder will choose a new index which is based upon comparable informatkmL ,?Ift
<br />HeiderwillpvemenCCiceofthischci re.
<br />(C) Cale ttwoa of C"Maftea i s
<br />Before each 04vwe Date, the Note Holder will calculate my new interest rattn by adding pereeatage
<br />points ( ? - 5 r/i) to the Current Index and rounding to the nearer•.: ugth of 1 %. subject to the limits stated in Section 4(D) below.
<br />Tbis rounded amour. � 111 be my new interest rate until the next Change Date.
<br />The Note Holder will then determine the amount of the xtn:;nthly payment that would be sufficient to repay in ftallf ft principal 1 am
<br />expected to owe on that Change Date in substantially equal payittt+ ..ts by the maturity date at my new interest rate. The res:tut +rf' ::cis calculation
<br />will be the new amount of my monthly payment.
<br />(D) Uatlft: as lakrest Rate CMaRes
<br />The interest rate 1 am r, utred to pay at the fi:v, r i�uge Date will not be greater than 6r`
<br />7.5 Ire. Thereafter, r•+rrvj,4ccrest rate will never be+:,^ia zased ur decreased on any single Change Date by more *an," tw percent _
<br />2.0) from the rate of ir��'c cast 1 have been paying for the preceding twelve months. The minimum interest rate on this loan will never be
<br />less than _ _ _ -7.5 _ _ _ % and the maximum interest rate will never be greater than _ 14.5 _04
<br />W Effective Desk of Cttaages
<br />My new interest rate will becomeeffective on each Chanp* Date. l will pay the amount of my new monthly payment beginning on the first
<br />monthly payment date after the Cilarxge Date until the amount rf sty monthly payment changes again.
<br />(F) Nedoea(tCksgiis
<br />The Note Ho(Jwwl,l mail cr deliver to mr, a:rr, °ice before each Change Q, z. "fhe notice will advise mvn: f
<br />(i) the Ykw interest ray.-on my loan_ %,3f the Change Date;
<br />j(ii) theansouni of e75j= rs!emhty payment following tl:c Change Date, 3
<br />(iii) any additional msvf(e:s which the Note Holde- ,, required to disclose; and
<br />(iv) the address of tin+: u�, 3ciation you could conta, 5: regarding an!:• luestious the adjust;;tait,'notice.
<br />a. CHARGES; LK."Ns
<br />' UmifotrmCovenant4 of;!: r�; rtat��, Y' ('>>strumentisamends:dtorc :clr .allows: '
<br />4. Chargn; Lim. fynTiam v :AWI pay all taxes, asses3ments, and other chargei; fines, and impositions ate k.oxable to the V operty which may
<br />anal:. a piofiiy G�ct�iiui+i�• di;F r /airuirRrlt. and icaischohi payments or growl aivais, tt arty, in rreniautiw iirt.,tiided utider paravaph Z hereoi _
<br />or. if not paid in such maagra",Ji�, *xrower making payment. when due, directly to the payee thereof. Boet:1wer shall promptly furnish Lender
<br />all notices of amounts due rwidc.'r+' jiffs paragraph, and in the event Borrower shall nuke payment directly. Borrower shall promptly furnish to
<br />Lender teceipts 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 />obl(ptim secured by such Bert in the manner acceptable to Lender; (b) shall in good faith contest such lien by. or defend against enforcement of
<br />such Tien in, legal proccedinss which in the opinion of Lender operate to prevent the enforcement of the lien or forfeiture of the Property or any
<br />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
<br />Security Instrument.
<br />If Lender determines that all m any parr of the Property is subjel to alien which may attain a priority over grits Security instrument,
<br />Lender shalt give borrower a notice identifying such lien. Borrower shall satisfy such lien or take one or more of the Actium set forth above
<br />within ten days of the giving of the notice.
<br />C. NOTICE
<br />Uniform Cos mane 14 of the Security Instrument is amerded to read as follows:
<br />ft. No". Except far any notice required under applicable law to tee gn car in another manner, fa) any notice to Botro%cr Viot,ded for in this
<br />Sv-utrty instrument shall !+- given ty d6vcring it nr by m3ilitq; it by first :!;lest trail to harrower at the I'rcrpert; Addic.; car at su,h t,thcr addrecs
<br />as Borrorret may designate by notice to teaser as pruti,dcd herein. and Iht any natacc to I cider shall he given by beet curs•, mail t:s t cndcr'�,
<br />addretsitatrrl herein or to such uthtr address a; I tmUf n,ny dCilgn3!e by nuticc to flrrtewer at tit r:t:Lted tic,c,r -trio r.,rt +; •_ pmt: fe.l !• r :, : ►r+:
<br />!itvntyInof mer&: 1111- rd_vrrrAtallovVccrog : :cnr.,il: set: ss etofIVnacr. ,+ht"imer,n:iumanacrJ!;,,_;+;l; :Fr :f.:i
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