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<br />iwt •snegn �i AMUSTABLE RATE RIDER 90-- 106911
<br />(1 YMr Tnss"la&X- iWtCaps)
<br />THIS ADJUSTABLE RATE RIDER b tftade this 26 day of November � 19 90
<br />meted j11 ittoorporated into and shall be deenned to Intend and supplement the Mwtgage. Deed of Trust, or Security Deed (the "Security
<br />hwmmcm") of the same date given by the undersigned (the "Borrowa") to secure Borrower's Adjustable Rate Note (the "Note ") to HOME
<br />' •je t FEDERAL 8WNG9 i LOAN ASSOCIATION OF ORAND ISLAND. NORMA_(the "Lender") of tale Tam date and covering the
<br />property described in the Security Instrument and located at:
<br />1115 West John, Grand Island, Nebraska 68801
<br />(Property Addresr)
<br />This sole coludn prorlslons /11181111112 for c•Images IN my IDIO t rata sad my moreliely
<br />payments. This sole also 11041111 Ike 11atouat my Istenst 11110 east ckluge It say ose elate ON
<br />111110 this talaltaats Date ells maximum 0110 must pay.
<br />ADDITIONAL COVENANTS. la addition to the eoveoams and agreements made is the Security Instrument. Borrower and Lender
<br />hsrtOte extvltsaaat sad etree w folbvrs:
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<br />A. INTEREST RATE AND MONTHLY PAYNIENT CHANGES
<br />The Note provides for an ietiti11d iattre11l rDte of 10.75 . Section 4 of the Note provides for changes is the intact rate and do
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<br />rxwnhly payments, as follows:
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<br />4. /NTE EST RATE AND MONTHLY PAYMENT CHANGES
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<br />(A) Chaatge Dates
<br />The interest rate l will pay may change on the first day of December , 1991 ad on that day every
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<br />12 monks thereafter. Each date on which my im¢mt rate could change is caltrd a "Change Date."
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<br />Beginning with the first Change Date, my interest rate will be based on an Index. The "Index" is the weekly average yield on United States
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<br />Treasury securities adjusted to a constant maturity of I year, as made available by the Federal Reserve &stet. The most raxnt Index Bgure
<br />available as of the date 45 days before each Change Date is called the "Current Index."
<br />It the Index is no longer available, the Note Holder will choose a new index which is based upon comparable information. The Note
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<br />Holder will give me notice of this choice.
<br />(C) Calculate" of Clmmges
<br />Three and one /ha3 f
<br />Before each Chop Date, the Note Holder will calculate my new interest rate by adding percentage
<br />points 9 3.5 ifs) to the Current Index and rounding to the nearest I 18th of 1%, subject to the limits stated in Section 4(D) below.
<br />This rounded amount will be no. new interest tare wail the next Change Date.
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<br />The Note Holder will then avlermine the amount of the monthly payment that would be sufficient to repay in full the principal I am
<br />expected to owe on that Change Date in substantiality equal payments by the maturity date at my new interest rate. The result of this calculation
<br />will be the new amount of my monthly payment.
<br />(D) Ltnald am IDIOM Rate Chaa2es
<br />9 T1te interest rate 1 am required to pay at the first Change Date will not be greater than �3 % o Percent
<br />U be increased decreased on any single Change Date by more than
<br />• 4e. Thereafter, my interest rate will nester or
<br />2% from the rate of interest 1 have been paying for the preceding twelve month The minimum interest rate on this loan will never be
<br />lea . 0 efts and the maximum Interest rate will never be greater than 'A•
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<br />(E) Effective Date of Changes
<br />My new interest rate will become effective on each Change Date. 1 will pay the amount of my new monthly payment beginning on the first
<br />monthly payment date after the Change Date until the amount of my monthly payment changes again.
<br />(F) NodwofClnages
<br />The Note Holder will mail or deliver to me a notice before each Change Date. The notice will advise me of:
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<br />(q the new interest rate on my loan as of the Change Date;
<br />(ii) the amount of my monthly payment following the Change Date:
<br />(iii) any additional matters which the Note Holder is required to disclose; and
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<br />&I the address of the association you could contact regarding any questions about the adjustment notice.
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<br />0. CHARGES. LIENS
<br />Uniform Covenant 4 of the Security Instrument is amended to read as follows:
<br />4, CADrjtesl Lien. 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 Tents, if any, in the manna provided under paragraph 2 hereof
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<br />ex, if not paid in such manner. by Borrower making payment, when due, gars : :: +: To the pays thereof. Borrower shall promptly furnish Lender
<br />this +t, and in the event Borrowp- ; a.'. make payment directly, 0orrower shall promptly furnishh tr•
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<br />all notices of amounts due under pasagra
<br />Lender receipts evidencing see,.:.`. raymer..t. 8. rower shall promptly clmcharge any lien which has pnoriq over this Security Instrument•,
<br />however, Borrower shall n.,: ', *.- 'squired to discharge any much lien .o long as Burrower. ws +hall agree in writing to :!•e -a 4rtlent of the
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<br />abilgation secured by such lien in the manner acceptable to Lender; (b) shall in good faith contest such lien by, or defend agaiasc enforcement of
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<br />such lien in, legal proceedings which in the opinion of Lender operate to prevent the enforcement of the lien w forfeiture of liar property nr say
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<br />pan thereof; or (c) shall secure from the holder of such lien an agreement In a form satisfactory to Lender subordinating such lien to this
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<br />Security Instrument.
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<br />if t etider determines that all or any part of the FreeNm, is subject to a lien which may attain a priority over Tins Security instrulnrnl,
<br />Lender shall give Borrower a notice Identifying such lien. Borrower enall satisty such lien or take one or more of the acttons tat forth above
<br />within ten days of the giving of the nonce.
<br />C. Nor"CE
<br />Uniform Cowrrant 14 of the 5trcartty Instrument is amended ro read as follow s:
<br />UI. lVsliOe. Except for any notice required under applicable law to be given 111 another manner, (a) any nO11CC 10 BMTOwtr provided for in This
<br />Seeanry Itwrumitt 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
<br />as Borrower may designate by notice to Lender as provided herein, and bbl 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 notwe pros Ided for in this
<br />Security Instrument shall be deemed to have been given to Borrower or Lender w hen given in the manner designated herein.
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