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r 7777 ,,.,. • AQJUM A JOLT RATE WDER �,., 106452 -� - (1 Year Treasury Index -Rate Ccps) 9ttt _ November , Is 96 THIS ADJUSTABLE RATE RIDER is made this day of --- shall be deemed to amend and supplement the Mortgye, ine:,i of Trutt, or Security Deed (the "Security and is incorporated (nto and (the "rower ") to secure Borrower's Adjustable Rate Note (the "Note') to NWIJ instrument ") of the asn.e data then by the tsndersijned I�NEIR"KA ithe "Linder ") of the sattte date and coverin{ t)rt - Festeatas as a LOAN ,ASSOCIATION OF GRAND — _MUGS property described in the Security Instrument and located at: — - 1124 West Koenig and -215 S. Unshit- ton, Grand ,hiaC1S1. — (Property Address) — - -- -- Tb b Dote tosWu V01111al0aa allawlag for cbaa{ea In my la{ereat tale stand my Mmthbr Paymeits. This Note also limits the aMOaat cep iattrest rate can thin to at asty one tine and alloo the ulalraan MW The mulmem tw e I Mast p y. ADDITIONAL COVENANTS. In addition. to the covenants and agreements made in the Security instrument, Borrower and Lender Iiuther. covenant and atm as, follows: A. LM. El!kEST RATE ANU MONTHLY Y PAYMENT CHANGES Section 4 the Note provides for changes in rite interest title ands the f ' s The Hats prtJVidra for ore initial- Interest rate of of �" r rat:,nliJiypay=ts,asfollows: 1. GP4 81& AIEAND !tgCYTIC$GrlTa1l:VjENTCHANGES rfr l (A) tDlat�{eilDaliea n intual case i will psy may r,'hange on the 11= day of. QeCetntter .19 Jr , anti oathat da} evesg Yr �7n71It�r,�'r��i4Y r� u r x j ? +; !` tum LV tnantlts t2tetettf let. Each data on which my incesest rate could ch=&(: is calletii! m "Change Date!," >.c , t s� _• !(B) The laden &-&nft with the first Change Date. my intemt tats will be based on an Index. The "Index" is the weekly averagm yield on ignited States Treasury, securities adjusted to a constant maturity of 1 year, as trade available by the Federal Reserve Board. The most recent Index figure .. available as of the date 45 days before each Change Date is called the "Current Index." index which is based upon comparable information. The Note tz -: It the Index is no longer available, the Note Holder will choose a new Holder will give me notice of this Choice. (C) Callakdoa of Chta4ea ` Before each Change Date. the Note Holder will calculate my new interest rate by adding ��„nd GADiihalf percentage „ i pang r 2 ; we) to the Current Index and rounding to the nearest i /gth of lh'a, subject to the limits sated in Section I(D) below. This rounded amount will be my new interest rate until the next Change Date. that would be sufficient to repay in full the principal I am The Note Holder will then determine the amount of the monthly payment interest rate. The result of this calculation i t expected to owe on that Change Date in substantially equal payments by the maturity date at my new will be the new meumt at my monthly palrmenl, -- . - (D) 1lafb on faterest Rats Changes The interest rate i am required to pay at the first Change Date will not be greater than 10 -n two It7erce t Change Date by more than Si. lbereafter. my interest rate will never be increased or decreased on any single f. • from the rate of interest l have been paying for the preceding twelve months. The minimum interest rate on this loan will never be I less than R - n 70 and the maximum interest rate will never be greater than 31111- °%s• i (E) Effective Date Of Changes My new interest rate wig become effective on ea.h Change Date. I will pay the amount of my new monthly payment beginning on the first i monthly payment date after the Change Date until sate amount of my monthly payment changes again- i ,' , . - ,1' •; (F) Notice of Chants The Note Holder will mail or deliver to rae a nott:e before each Change Date. The e notice will advise me of: n the new interest rate on my loan as of the Change Date; Q the amount of my monthly payment following the Change Date; ('iii) any additional matters which the Note Holder is required to disclose; and (w) the address of the association you could contant regarding any questions about the adjustment notice. Ill. CHARGES; LIENS i uniform Covenant 4 of the Security instrument is amended to read as follows: � .; ;. , ; • ' 4. Charles; Lkas. 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 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 under this paragraph, and in the event Borrower shall make payment directly. Borrower shalt promptly furnish to ; Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument; ' however. Borrower shaki 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 Hen in, legal proceedings which in the opinion of Lender operate to prevent the enforcement of the lien or forfeiture of the Property or any pan thereof, or (e) shall secure from the holder of such lien an agreement in a form satisfactory to Lender subordinating such Hen to this Security Instrument. If Lender determines that all or any pan 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. Y C. NOTICE l:lWiorm t'.oseflant l44 of the Swi ity fnstrume'ar ir, =ndei':