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A� L MW r, ^- ADJUSTABLE. RATE (I YeanTtr _3sury.tndcx4ttttRC�1>�s) :. 89,„� i O V 1 . THIS ADJUSTABLE RATE RIDER is made this 1 s't:h. :. day of September 19 69 and is incorporated into and shah be deemed to amend and supplement the Mortgage, .f ,wf. Taut, or Security Deed (the "Security Instrument ") of the same date given by the undersigned (the "Borrower ") to secure Borrower's h.:6justable Rate Note (the "Note") to HOME FEDERAL SAVINGS A LOAN ASSSOCIATION OF GRAND ISLAND? NEBRASKA Oil "Under") of the same date and covering the property described in the Seccurity instrument and !Dotted alt: (Property Addfins), This cote contain revision oaf wing for chages In my lateral rate sand my attrotrtltly paya sestb. This state also Uatits Ike auorat my Interest rate can change at say am date sold alto the riishavat I" the at exhstnsin rate 1 mom ray. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument. Borrower and Lender further covenant and agree as follows: A. INMESt' RATE AND MONTHLY PAVMENJ Si}IA.NGES The Note provides for an initial interest rate of t83 • 0u rr. Section-4 of: the Y+tttte.provides for changes in the interest rate and the monthly payments, as follows: 4. INTEREST RATE AND MONTHLY PAYMENT CHANCES (A) Change Dates The interest rate I will pay may change on the first day of ,19 90, and on that day every tE,-e months the to . Each date on which my interest rate could change i` called a "Change Date." (B) The Index Begitttiiag with the first Ch..p- .1"amc, my interest rate will be based on an Index. The " Lmicxl is the weekly average yield on United States Treasury securities adjltaro;t rxt pa nt maturitlt of I year, as made available lap the Fedem] Reserve Board. The most recent Index figurt availableas of the da'r4 ±li<is!beli e! :;ch Change Date is called the "Current iodate." If the Index is ariv&U., the Note Holder will choose a new index which is rn;sed upon comparable information. The Note Holder will give me maze of this ch� (C) Cdesk.&ttcaf Changes Before each Cftv*e Date, the Note Holder will calculate my new interest rate by.:.dd:i;,; O cd'Id one/half purge points ( 2. S We) to the Oxent Index and rounding to the nearest 1/8th of i to the limits stated in Section 4(D) below. This routuf©i..t-sount will be my new interest rate until the next Change Date, The Ni (z Holder will then drimMine the amount of the monthly payment thavwr=4J "ne sufficient to repay in fact•"•. tI* principal 1 am expected to owe on that Change Date in substantially equal payments by the mater :cc date at w/ new interest rate. The result of this calcutivion will be the new amauneof, my monthly payment. (D) Kitttitt or Cmlresetrt401ie npage, The interest raze I am re;!iirre[ to pay at the first Change Date will not be �rmter than In- S °•'o or less than 6.5 Est. "] t;ertafier, ml ftucrest rate will never be increased or decreased on any single Change Date by more than t1tIC! percent .� from Ilse rate of interest 1 have bees paying for the preceding twelve months. The minimum interest rate on this loan will never be less than 6.-5% and the maximum interest rate will never be greater than 13.5 v e (El, fWecdve Dote of Cia W . My new interest rzte will �eatrm effective on each Change Date. I will pay the amoene r. :ny new monthly payment beginning on the first monthly payment daa,. -jC � f rite Change Date until the amount of my monthly payment dhir; �n again. The Note Holder utia coal er. &i Iler tome a notice before each Change Date. The: not will advise me of: (i) the ae,# is Ceres: rate on my loan as of the Change Date; (if) the 0dumt of my monthly payment following the Change Date; (iii) any additional matters which the Note Holder is tequired to disclose; and (iv) the address of the association you could contact regarding any questions about the adjustment notice. s. CHARGES; LIENS Uniform Covenant 4 of the Security Instrument is amended to read as follows: 4. Charges; l kus. 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 paragraphi,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 requited 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 thb manner acceptable to Lendct; (b) shall in good faith contest such lien by, or defend against enforcement of such lien in. legal proceedings which is the opinion of Lender eperaty co prevent the enforcement of the lien or forfeiture of the Property or any Prot thereof; or (c) shttlllhecure from the holder of such lien an.a9teement 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 slitilligive 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. NOTICE Uniform Covenant 14 of the Security Instrument is amendcd to read as follows: 14. Notice. Except for any notice required under applicable law to be given in another manner. (a) any notice to Borrower provided for in this Security Instrument shalt be given by delivering it or by mailing it by first class mail to Borrower at the Property Address or at such other addtess as Borrower may designate by notice to Lender as provided herein, and (b) any notice to Lender shall be given by first class mail to Lender's address stated herein or to such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. . wM r 1.