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'.7.. ADJUSTABLE RATE RIDER go--106647 (1 Year Treasury Irvkx•Rate Cars) 16th fVove - -_ �,19 THIS ADJMARLD RATES RIVER is tnade this day of Mher WA b itrcorporsted into and shall be deemed to amend and supplement the Mortgage, Deed of Trust. or Security Deed (the -Security Inatrument") of the ume date !hint by the undersigned (the "Borrower ") to secure Borrower's Adjust-jitik Rate Note (the "Note ") to tIME F' & L SAVItsQ$ a L wggQG1A Q�N_QF QRAND ISLAND. -NEB RAM (the `•Leader ") of the same date and covering the Property described in the Security Instrument and tocated at: ( Propety Address) Tile cob eoatalia prorYtoM aUa ditS for elasiga to sty lalrtest me 1111114 My s0a1W payments. Thh axle aho Uaib the aaonat MAY IaUM11 Late Call shaft* at ally on tics and do the ships aatt tie saaiaan rate I out Pay. [ADDITIONAL COVENANTS. in addition to the covenants and agreements made in the Security Instrument. Borrower and Lender fWthee muetrantanda&=as follows: A. IIN Tg,RISIi ]RATE AND NONTQLY PAYMENT CIPANGES The Note provides for an initial interest rate of g 2�� —°it. won 4 of the Note provides for changes in the interest rate and the monthly payments. as follows: 4, LtWL -R ST RATE AND MONTHLY PAIMENT CHANGES obotgeAaan December ,19 91 .and on that day every TilreFutetesr. rate I will paiy may change on the .fast day of Tyr —1 eta mtasths thereafter. Each daf a on: w.lilch my interest rate could change is called a "Change Date." B¢Yiaaittg with hire f,)rst change Mte, my interest rate will be ba9W. on an index. The "index" is the weekly average yield on United States Treasury securities a4rmt.'ed to a constant maturity of A year, as wide available by the Federal Reserve Board. The most recent Index fig= available as of the date 45 days before each Change Date is called the "Current index." if the Iadett is xpa, lstnger available, the Note Holder will choose a new index which is based upon comparable• information. The Note Holder will give me ocW ce of this choice. (C) 4ytkalali000fCiaages three and one /half Percentage each Cha age Date, the Note Holder will calculate my new interest rate by adding pwnts ( 14 r, !b) to the Current index and rounding to the nearest 1 /gth of 1%, subject to the Ilmdts stated in Section 4(D) below. This rounded amount will be ray new interest rate until the next Change Date. The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay in full the principal 1 am expected to owe on that Change Date in substantially equal payments by the maturity date at my new interest rate. The result of this cabcutation will be the new amount of my monthly payment. (D) Lbalt:= west[ mCmuii -t The interest rare a am required to pay at the rust Change "-Date will not be greater than 11 •25 R9 or less than rcent q. 25_ ?i. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than �llLlll@ - -- (2 0 _ _ _fr%om the rate of interest 1 have been paying for the preaeditttg twelve months. The minimum interest rate on" loan will never be leas than • _ 2ri oh and the ma:dmum interest rate will never be greater than 14-2t; 4b. (E) EffeetivenateofChuman My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change hate until the amount of my monthly payment changes again. M NodoeotChmen 'lie Note Hoide will mail or deliver tome a notice before each Change Date. The notice %•rill advise me of: (I) the new interest rate on my loan as of the Change Date; (G) the amount of my monthly payment following the Change Date; (iii) any additional matters which the rote Holder is required to disclose; and (iv) the address of the association you could contact regarding any questions about the adjustment notice. B. CHARGES. LIENS Uniform Covenant 4 of the Security instrument is amended to read as follows: 4. CMrga; IIess. 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, 2R$ in the event Borrower shall make payment directly. Borrower shall promptly furnish to Leader receipts evidencing such payments. Bortoaer shill promptly discharge any lien which has priority over this Security tctstrument; however, Borrower shall not be required to des huge any such lien. so long as Borrower: (a) shall agree in wridrt& in the payment of the obligation secured by such Gen in the manner acceptable to LeniL .(b) shalt in goo(V %ith contest such lien by, or defend against enf©mement of satdt lien in, legal proceedings whIcir Ili. cite opinion of, Lender ope%^te tU prevent the ehforcement of the lien or forfeiture of the Pt»pmry or any part thereof; or (c) shall secure from the holder or such lien ari agreement in a Goren satisfactory to Lender subordinating such lien to this Security instrument. If Lender determines that all or any part of We Property is subject to a Gen 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 rofi , C, NOTICE Uniform Covenant 14 of the Security instrument is amended to read as follows: 114. 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 shall be given by delivering it or by mailing it by first class mail to Borrower at the Property Address or at such other address 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. •' � fit,