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A� L <br />MW <br />r, ^- <br />ADJUSTABLE. RATE <br />(I YeanTtr _3sury.tndcx4ttttRC�1>�s) :. 89,„� i O V 1 . <br />THIS ADJUSTABLE RATE RIDER is made this 1 s't:h. :. day of September 19 69 <br />and is incorporated into and shah be deemed to amend and supplement the Mortgage, .f ,wf. Taut, or Security Deed (the "Security <br />Instrument ") of the same date given by the undersigned (the "Borrower ") to secure Borrower's h.:6justable Rate Note (the "Note") to HOME <br />FEDERAL SAVINGS A LOAN ASSSOCIATION OF GRAND ISLAND? NEBRASKA Oil "Under") of the same date and covering the <br />property described in the Seccurity instrument and !Dotted alt: <br />(Property Addfins), <br />This cote contain revision oaf wing for chages In my lateral rate sand my attrotrtltly <br />paya sestb. This state also Uatits Ike auorat my Interest rate can change at say am date sold <br />alto the riishavat I" the at exhstnsin rate 1 mom ray. <br />ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument. Borrower and Lender <br />further covenant and agree as follows: <br />A. INMESt' RATE AND MONTHLY PAVMENJ Si}IA.NGES <br />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 <br />monthly payments, as follows: <br />4. INTEREST RATE AND MONTHLY PAYMENT CHANCES <br />(A) Change Dates <br />The interest rate I will pay may change on the first day of ,19 90, and on that day every <br />tE,-e months the to . Each date on which my interest rate could change i` called a "Change Date." <br />(B) The Index <br />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 <br />Treasury securities adjltaro;t rxt pa nt maturitlt of I year, as made available lap the Fedem] Reserve Board. The most recent Index figurt <br />availableas of the da'r4 ±li<is!beli e! :;ch Change Date is called the "Current iodate." <br />If the Index is ariv&U., the Note Holder will choose a new index which is rn;sed upon comparable information. The Note <br />Holder will give me maze of this ch� <br />(C) Cdesk.&ttcaf Changes <br />Before each Cftv*e Date, the Note Holder will calculate my new interest rate by.:.dd:i;,; O cd'Id one/half purge <br />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. <br />This routuf©i..t-sount will be my new interest rate until the next Change Date, <br />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 <br />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 <br />will be the new amauneof, my monthly payment. <br />(D) Kitttitt or Cmlresetrt401ie npage, <br />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 <br />6.5 Est. "] t;ertafier, ml ftucrest rate will never be increased or decreased on any single Change Date by more than t1tIC! percent <br />.� from Ilse rate of interest 1 have bees paying for the preceding twelve months. The minimum interest rate on this loan will never be <br />less than 6.-5% and the maximum interest rate will never be greater than 13.5 v e <br />(El, fWecdve Dote of Cia W . <br />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 <br />monthly payment daa,. -jC � f rite Change Date until the amount of my monthly payment dhir; �n again. <br />The Note Holder utia coal er. &i Iler tome a notice before each Change Date. The: not will advise me of: <br />(i) the ae,# is Ceres: rate on my loan as of the Change Date; <br />(if) the 0dumt of my monthly payment following the Change Date; <br />(iii) any additional matters which the Note Holder is tequired to disclose; and <br />(iv) the address of the association you could contact regarding any questions about the adjustment notice. <br />s. CHARGES; LIENS <br />Uniform Covenant 4 of the Security Instrument is amended to read as follows: <br />4. Charges; l kus. Borrower shall pay all taxes, assessments. and other charges. fines, and impositions attributable to the Property which may <br />attain a priority over this Security Instrument, and leasehold payments of ground rents, if any, in the manner provided under paragraph 2 hereof <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 paragraphi,and in the event Borrower shall make payment directly. Borrower shall promptly furnish to <br />Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument; <br />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 <br />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 <br />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 <br />Prot thereof; or (c) shttlllhecure from the holder of such lien an.a9teement in a form satisfactory to Lender subordinating such lien to this <br />Security Instrument: <br />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, <br />Lender slitilligive 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 amendcd to read as follows: <br />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 <br />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 <br />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 <br />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 <br />Security Instrument shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. . <br />wM <br />r <br />1. <br />