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ADJUSTABLE RATE RIDER 89- 104860
<br />(I Year Treasury Index -Rate Caps)
<br />THIS ADJUSTABLE RATE RIDER is trade this 11th day of St? _terrber Ig e9,_,�
<br />and is incorporated into and shall be deemed to amend and supplement the Mortgage. Decd of Trust, or Security Deed (the "Security
<br />Ini trurrient ") of the same date given by the undersigned ( the "Borrower ") to secure Borrower's Adjustable Rate Note (the "Note")_ to nNa
<br />IVDERAL SAYiN(IS Iy LOAN ASSOCIATION OF ()RAND ISLAND, ISRASKA (the -!.ender") of the same date and covering Ole
<br />property described in the Security instrument and located at:
<br />" �•�
<br />1022 N. Kimball, Grand Island,. Nebraska
<br />(Property Address)
<br />This note contains pro M01111s Wkwfos for clWi ftes In nay interest rate and sly wonthly
<br />Mrieats. T11k note also Blahs tie anansiat soy iatemt rate can cfutnge at say one time and
<br />` also the taiainsint and tine saxletan rate I strut pay.
<br />L
<br />oil.
<br />:Sy i
<br />ADDIT16NAL ]COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender
<br />further covenant arjc?eas follows:
<br />A. tKUMEMSAU i' fNU 1tfS'1)N'M' Y PAYl11ENT- CHArCr.1js
<br />The Nary ?p o?+ " „e pis bVdal ihtt: i, rate of 12 • S et,. Section 4 of the Note pr rides iii*, fin a in the 4iterast rate; die
<br />monthly
<br />4. !?MR STRA7 'E'ANDMONTHLYPAYMENTCHAAk,T S
<br />(AF Dan
<br />The interest rate Imill pay may change on the first day of �rtob , iI_'. and on that day eiy
<br />ft r,ie l up =cnths thereafter. Each date on which my interest rate could change is called a `•Chair t Date.”
<br />(t) Tie Index
<br />Begirnins with the first Change Date, my interest rate will .ba based an.am him. Thee 1ilridtes'r is the weekly average yield on United States
<br />Treasury securities adjusted to a constant maturity of 1 year, at knutfii;ruriiable.fty the Fe&=l RMerve Board. The most recent Index f%gtre•
<br />available as of the date 45 days before each Change D�.te is called tlit'! :rrert.1~<s'�"."
<br />If the Index is no longer available, the Note Rblder will Ooiiv6r ti new index which is bzset; open uttiipf`able information. The t1i z
<br />Holder w-M. ivemenotieeofthischosre .:
<br />(Cj` fiaietlatlon of Cissges .
<br />Before each Change Date, the Note Holder will calculate my new intuwvratu by adding __fnur ;;rid rnaIhn 1 f pen, ;;4y;
<br />points f_4 5 sh) to the Current Index and rounding to the nearesti VOth of 147s, subject to the fir, is stated in Section 4(D) 60
<br />This rounded amount will be my new interest rate until the next Change Date.
<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 payment.
<br />(D) Witsearuntrosest Rate Chaaacs
<br />The (rt ;sett: ; *. =c— t am required to pay at- tine first Change Date will not be greater than 142 °tee or less dlpt
<br />In,, aa -We. Thereafter, my itrltzest rate w::i :never be increased or decreased on any single Change Dame Wy more than, 1`Lir,7; r-ni t
<br />from the rate of intercxr. (;Pave be= ice.tti ig for the preceding twelve months. The minimum int;a -t :ate on tPris>i= will neiv' 1 *.
<br />less than - a nr_aIi and the maximum iwisi rate will never be greater ttntrt 16-171 (r
<br />(E) Effective Date of Chances
<br />My new interest rate will become effective cn mill Change Date. I will pay the amount, of 1nyi new monthly payment beginning on the first
<br />monthly payment date after the Change Dtte until, iliu amount of my monthly payment chanErs*,wim.
<br />(F) Notice of CAaeses
<br />The Note Holder will mail or deliver to roe a; rxidi:i before each Change Date. The notice will advise me a f;
<br />(i) the new interest rate on my loan as of the Change Date;
<br />00 the amount of my monthly payment following the Change Date;
<br />(iii) any additional matters which tlw N hue Holder is required to disclose; and
<br />(iv) the addirss of the association suucuoldcontact regarding any quc::tfrnsabout the adjustmert-notice.
<br />s. CHARM: Llly"4
<br />Uniform Covenant 4 of the Security Instrtt:nent is amended to read as follows:
<br />4. Curses; Moo. Borrower shall pay all taxes. assessments. and other charges, fines, and impositions attributahie to the Property whici( may
<br />attain a priority over thin Security instrument. and leasehold payments of ground rents. if any, in the rnannerprovided under paragraph 2 hrrmf
<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 amounts due under this paragraph, and in the event Borrower shall make payment directly. Borrower shall promptly furnish to
<br />Lender receipts evidencinS 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 />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
<br />such hen in. legal proceedings which in the opinion of Lender operate to prevent the enforcement of the Gen or forfeiture of the Property or any
<br />put thereof; or (c) shall secure from the holder of such Gen an agreement in a form satisfactory to Lender subordinating such lien to this
<br />Security Instrument.
<br />U Lend, d:wmir= that a ar any part of the Property ii stir jctt ru a Hrn 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 above
<br />within ten days of the giving of the notice. ,
<br />C. NOTICE
<br />Uniform Covenant 14 of the Security Instrument is amended to read as follows;
<br />14. Notice. Except for any notice required under applicable law to be given in another marrter. (a) any notice to Burrom er provided for in this
<br />Security Instrument shall begiven by delivering it or by mailing it by first crass mail to ButrmAer at the Property Address or at such other addnws
<br />as Borrower may designate by notice to tender as provided herein, and IN anti• riulue to Lender aht.11 be given by firs*, class mail tc ( ender',.
<br />addreststated herein or to such other address as Lender may delignare by nonce to Borrouct a, prodded herein. Ativ notice provided for in tlds
<br />Security Insrrumentt shall be dccmcd to haset,ccn gr +cn to l?"Fraiwer of t cnd_•r whm-gnen in the manner ete.ignarcJ herein
<br />W.
<br />�i
<br />_Tl
<br />J
<br />L
<br />oil.
<br />:Sy i
<br />ADDIT16NAL ]COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender
<br />further covenant arjc?eas follows:
<br />A. tKUMEMSAU i' fNU 1tfS'1)N'M' Y PAYl11ENT- CHArCr.1js
<br />The Nary ?p o?+ " „e pis bVdal ihtt: i, rate of 12 • S et,. Section 4 of the Note pr rides iii*, fin a in the 4iterast rate; die
<br />monthly
<br />4. !?MR STRA7 'E'ANDMONTHLYPAYMENTCHAAk,T S
<br />(AF Dan
<br />The interest rate Imill pay may change on the first day of �rtob , iI_'. and on that day eiy
<br />ft r,ie l up =cnths thereafter. Each date on which my interest rate could change is called a `•Chair t Date.”
<br />(t) Tie Index
<br />Begirnins with the first Change Date, my interest rate will .ba based an.am him. Thee 1ilridtes'r is the weekly average yield on United States
<br />Treasury securities adjusted to a constant maturity of 1 year, at knutfii;ruriiable.fty the Fe&=l RMerve Board. The most recent Index f%gtre•
<br />available as of the date 45 days before each Change D�.te is called tlit'! :rrert.1~<s'�"."
<br />If the Index is no longer available, the Note Rblder will Ooiiv6r ti new index which is bzset; open uttiipf`able information. The t1i z
<br />Holder w-M. ivemenotieeofthischosre .:
<br />(Cj` fiaietlatlon of Cissges .
<br />Before each Change Date, the Note Holder will calculate my new intuwvratu by adding __fnur ;;rid rnaIhn 1 f pen, ;;4y;
<br />points f_4 5 sh) to the Current Index and rounding to the nearesti VOth of 147s, subject to the fir, is stated in Section 4(D) 60
<br />This rounded amount will be my new interest rate until the next Change Date.
<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 payment.
<br />(D) Witsearuntrosest Rate Chaaacs
<br />The (rt ;sett: ; *. =c— t am required to pay at- tine first Change Date will not be greater than 142 °tee or less dlpt
<br />In,, aa -We. Thereafter, my itrltzest rate w::i :never be increased or decreased on any single Change Dame Wy more than, 1`Lir,7; r-ni t
<br />from the rate of intercxr. (;Pave be= ice.tti ig for the preceding twelve months. The minimum int;a -t :ate on tPris>i= will neiv' 1 *.
<br />less than - a nr_aIi and the maximum iwisi rate will never be greater ttntrt 16-171 (r
<br />(E) Effective Date of Chances
<br />My new interest rate will become effective cn mill Change Date. I will pay the amount, of 1nyi new monthly payment beginning on the first
<br />monthly payment date after the Change Dtte until, iliu amount of my monthly payment chanErs*,wim.
<br />(F) Notice of CAaeses
<br />The Note Holder will mail or deliver to roe a; rxidi:i before each Change Date. The notice will advise me a f;
<br />(i) the new interest rate on my loan as of the Change Date;
<br />00 the amount of my monthly payment following the Change Date;
<br />(iii) any additional matters which tlw N hue Holder is required to disclose; and
<br />(iv) the addirss of the association suucuoldcontact regarding any quc::tfrnsabout the adjustmert-notice.
<br />s. CHARM: Llly"4
<br />Uniform Covenant 4 of the Security Instrtt:nent is amended to read as follows:
<br />4. Curses; Moo. Borrower shall pay all taxes. assessments. and other charges, fines, and impositions attributahie to the Property whici( may
<br />attain a priority over thin Security instrument. and leasehold payments of ground rents. if any, in the rnannerprovided under paragraph 2 hrrmf
<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 amounts due under this paragraph, and in the event Borrower shall make payment directly. Borrower shall promptly furnish to
<br />Lender receipts evidencinS 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 />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
<br />such hen in. legal proceedings which in the opinion of Lender operate to prevent the enforcement of the Gen or forfeiture of the Property or any
<br />put thereof; or (c) shall secure from the holder of such Gen an agreement in a form satisfactory to Lender subordinating such lien to this
<br />Security Instrument.
<br />U Lend, d:wmir= that a ar any part of the Property ii stir jctt ru a Hrn 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 above
<br />within ten days of the giving of the notice. ,
<br />C. NOTICE
<br />Uniform Covenant 14 of the Security Instrument is amended to read as follows;
<br />14. Notice. Except for any notice required under applicable law to be given in another marrter. (a) any notice to Burrom er provided for in this
<br />Security Instrument shall begiven by delivering it or by mailing it by first crass mail to ButrmAer at the Property Address or at such other addnws
<br />as Borrower may designate by notice to tender as provided herein, and IN anti• riulue to Lender aht.11 be given by firs*, class mail tc ( ender',.
<br />addreststated herein or to such other address as Lender may delignare by nonce to Borrouct a, prodded herein. Ativ notice provided for in tlds
<br />Security Insrrumentt shall be dccmcd to haset,ccn gr +cn to l?"Fraiwer of t cnd_•r whm-gnen in the manner ete.ignarcJ herein
<br />W.
<br />�i
<br />_Tl
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