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AD STABLE RATE RIDER
<br />Year Treasury Inda -Roue Caps) 9 _..
<br />(1 Y 01 �GBb
<br />Tr
<br />18 November 90
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<br />THISADJUSTABLE RATE RIDER Is made this day of p� aI Tout, or switrity Deed (the "Security
<br />Is incorpoaud into and shall be deatttad to amend and supplement the Mortgage,
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<br />and to
<br />Instrument ") of the same date given by the undersigned (the "norrawer ") to secure Borrower's Adjustable Rate NOW (the "Note
<br />"Lender•,) of tbs snare due and covering the
<br />�-- a `.� SAVINGS A LOAN SMIATION OF GRAND ISLAND, N�RASKA (the
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<br />property described In the Security Inslruatau and located at:
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<br />LJT =° — - -
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<br />1507 North Taylor► Grand Island, Nebraska 68803
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<br />(Property Addreu)
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<br />This roots costalas protime s allowles for chaaw In my Interest rate ad my saoatmy
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<br />paysmiels. This Rota also limits 611 avmmt my Iatsnat rate cam eMuags i
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<br />III seaMmiWrtasrRaMlMoas (raemrata11aY1Pari
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<br />in addition to the covenants and agreements made in the Security lum mnent, Borrower and Letader
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<br />ADDITIONAL COVENANTS.
<br />ILrtber Covenant and agree as follows:
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<br />A. INTEREST RATE AND MONTHLY PAYMENT CHANGES
<br />rw Note provides for an bridal interar MCI 11 .0 %. Swdon 4 of the Note provides for changes ir► sAe inurest ate and the
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<br />4. INMESTRATE AND MONTHLY Y.9y'M6NTCHANQES
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<br />(A) CMage Data
<br />The interest rate 1 will pay may change on the first day of tlgrarrL► -err - - -- , 19 � , and on, that day every
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<br />is called a "Chan a Date."
<br />months "Miter. each data on which my interest rate could charge R
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<br />(B) Vlae ladta
<br />Beginning with the fins Change Date, my interest rate will be based on an Index. The "Index" is the weekly average ykld on United States
<br />figure
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<br />Treasury securities adjusted to a constant maturity of 1 year, as made available by the Federal Reserve Board. The must recent index
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<br />available as of the date 43 days before each Change Date is called the "Current Index.
<br />is longer available, the Note Holder will choose a new index which is based upon comparable information. The Note
<br />if the Index no
<br />Holder will give me notice of this choice.+
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<br />(C) Cakoladoe at C4aagos eta end Cain half vantage
<br />Befom each Change Date, the Note Holder will calculate my new interest ate by adding for y - -� a
<br />Index to the nearest 1 /Sth of 1%, subject to the limits stated In Section 4(D) below.
<br />= • ;rwa= :: - s
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<br />points ( 'A ,r- -_- - %) to the Current and rounding
<br />This rounded amount will be my new interest rate until the next Change pace.
<br />IN sufficient to repay in full the principal 1 am
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<br />The Note Holder will then determine the amount of the monthly payment that would
<br />by the maturity date at my now interest rate. The result of this calculation
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<br />expected to owe on that Change Date in substantially equal payments
<br />will be the new amount of my monthly payment.
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<br />(D) L1dm as latsnet Rate Cltamges
<br />interest rate 1 am required to pay at the first Change Date will not be greater than 13.0 -9e or less than
<br />+
<br />The
<br />n n %. Thereafter, my interest rate will never be Increased or decreased on any single Changes Date by more than two _pBTcont
<br />_ n m the rate of interest 1 have been paying for the preceding twelve months. The minimum Interest rate on this loan will never be
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<br />+ " ll: •
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<br />ku than _�� % and the maximum interest rate will never be greater than —�i•
<br />(E) Effective Date of Chant"
<br />interest rate will become effective on each Change Date. l will pay the amount of my new monthly payment beginning on the fiat
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<br />My new
<br />monthly payment date alter the Change Date until the amount of my monthly payment changes again.
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<br />(p) Notice of Chaagom
<br />The Note Holder will mail or deliver to me a notice before each Change Date. The notice will advise me oh
<br />(i) the new interest rate on my loan as of the Change Date;
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<br />(Ii) the amount of my monthly payment following the Change Date;
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<br />(iii) any additional matters which the Note Holder Is required to disclose; and
<br />(iv) the address of the assodstion you could contact regarding any questions about the adjustmem notice"
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<br />B. CHARGES: LIENS
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<br />Uniform Covenant 4 of the security Instrument is amended to read as follows:
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<br />4. Charges: Lim. 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 />due, directly to the thereof. Borrower shall promptly furnish Lender
<br />or, if not paid In such manner, by Borrower making payment, when payee
<br />directly, Borrower shall promptly furnish to
<br />':;r„ ;. �, :t '• ,+' "t,
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<br />all notices of aunts due under this rangraph, and in the event Borrower shall make payment
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<br />Borrower shall promptly dls.hargr au} hen which has priority overt is ti curity Instrument;
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<br />Lender receipts evidencing such payments.
<br />however, Borrower shall not be required 10 discharge any such hen so long as Borrower: ta) shaft agree in writing to the Payment of the
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<br />obligation secured by such tier. ir.lhr manner acceptable to Lender; obi rf al; ra good faith contest such I.en by, or defend against enforcement of
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<br />such lien in, legal proceedings whict: in IU opinion of Lender operate to prevent the enforcement of the lien or forleituu of the Property or any
<br />to Lender subordinating such lien to this
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<br />part thereof; or (c) shalt secure from the holder of ouch lien an agreement In a form satisfactory
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<br />Security Instrument.
<br />." . .... ... .. .... __.. ��.,... o.......,..., a shw-t in a lien which may attain a Ctton'% Over 1:V., Security lostrurttent,
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<br />a Lender aelcrm,nca inai a:: v. avi Pz• • ....... _, _.., ."
<br />Lender shall Borrower a nonce uiw: ^rifying such lien. Borrower ,half wn,fy .u:h tcen or take r -e or m.re of the actions set forth above
<br />give
<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 manner, tai •zw notice to Borrower provided For in this
<br />Security Instrument shall be given by delivering It or by mailing it by tirst class mail to Borrower at the Property Address or at such other address
<br />as Borrower may designate by notice to Lender as provided herein, and IN 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
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<br />Security Instrument shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
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