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AnjusTABLE RATE RIDER 90- 106941
<br />(1 Yeatr Traw ay Ittdatt -Rob naps)
<br />I9 LD
<br />THIS I�D JUSI'ABLB RATE RIDPAbrrsadstbla � —dayot ---- VOo�Deed at Trust. or Security Dad (the "Savrlty
<br />wall Is iawrporated into and sW be deemed to amend wad supplement the Martgagt,
<br />lmaameat")of tba sloe due riven by the undersigned (the "Borrower") to secure Borrower's Adjustable Rare Note (the -- Note") to NONE
<br />Fan& SAVINGS A LOAN ASSOCIATION OR GRAND U)LAND. NURASKIL (do ' 'Lender'•) of the same date and covering pte
<br />psopQry destsibed in" Security InNntuaeat wad IecatW at:
<br />7s3n st- ontriek Auenue. Grand Island# Nebraska
<br />:�ti:H� '•%4?:.'�ar.?.sa':t.i�t ts•..+ycr.r,+.w...�.,
<br />• �•�. ' -j.;c. 71W saolt a'oatals OrovWaaa adawlwg for odnargea la ray 4sterert raw wad ntq ttasatYq
<br />xj,4• ' ; pynaaate. Tlls ask also drib The Natoaat wry Wassail raw cam ebw at "Y as date era/
<br />{ i Oita rise eslwislslm aN dw modemm"I toast pay.
<br />ADDITIONAL COVENANTS. In ad01011 to the Govt nattta and ssreemeets mode (n the SoCtst ily Instrument, Borrower and Leradxr
<br />further ooveUN Ed agroo a follows:
<br />• �' � :, • A. INnww RATS AND MONTHLY PAYMENT CH"GES
<br />10.7 4it. Section 4 of the Nate provkia for chaages in the interest rate and the
<br />T1rc Note provides for an initial Interest rate of.
<br />h •: trnoathly Payments. at follows:
<br />4L INTEREST P„4TE AND HOWNLY PA YMENT CHANGES
<br />(A) CMW Dawn
<br />I +; +'k %ili'�1•, Decetnher 19.�_ .andontlwtdayevery
<br />�, „ (.. ''• :{ The interest raw 1 win pay may change on the first day of
<br />Ye Months I undta. Each date on which my interest rate could chuw is caned a "Change Date.'•
<br />Vill Index
<br />;. ��?�Hri :� �;� y ;,•,, 1 s Beginuft with the first Change Date, my interest rate will be based on an Index. The "Index" is the weekly average yield on United States
<br />Treasury securitles adjusted to a constant maturity of 1 year, as made available by the Federal Reserve Board. The most recent Index figure,
<br />1 available as of the date 43 days before each Change Date Is called the "Current Index."
<br />If the Index is no longer available, the Note Holder will choose a now lade)# which is based upon comparable information. The Now
<br />Holds wo si" me notice of this choice.
<br />- (C) Cakaiuloa of Clwttga
<br />three and one half percentage
<br />• 1`� .�� Before each Change Date, the Note Holder will calculate my new Interest rate by adding Pe
<br />:. +3 •• points 4. �+ 9e) to the current Index and rounding to the nearest 1 /Bth of I%, subject to the limits stated in Section 4(D) below.
<br />This rounded amount will be my new interest rate until the next Change Date.
<br />. i
<br />The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay e full the principal 1 stn
<br />I'1 expected to own on that Change Date in substantially equal paymertw by the maturity date at my new interest fate. The #auk of this talcuiation
<br />will be the new amount of my monthly payment.
<br />A (D) LWb W Iatrleat Raw Ck*Nges f
<br />5,• ,;,,N'. ' The interest rate I am required to pay at the first Change Date will not be greater than 12.75 -• �'�iX essX� x�
<br />•; .�r•x•, Ass. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more that
<br />'•1 Np�_ tirom the rate of interest I have been paying for the preceding twelve months. The minimum Interest rate on rich loan w1U never be
<br />��.'. ,� . ;.', +j`'r;•'. ' ;,���)l :l�;
<br />11011 than a 74 *sandthemaximuminterestratewlUneverbegnmterthaa 1,3.75
<br />�•
<br />i .� i:) ,; . iv •, " ; ! +, (E) Effective Date og ckages
<br />' alt! , My new interest rate tail; trecoaae effective on each Change Datr. l will pay the amount of my new ssomhly payment bttBiadng on the first
<br />�!, '{ •:It t1, monthly payment date after the Change Date until the amount of my monthly payment changes again.
<br />(F) Nonce of Cbagea
<br />The Note Holder will mail or deliver to me a notice before each Change Date. The notice will advise me of:
<br />d (i) the new lateust rue on my loan as of the Change Date;
<br />c•: (II) the amount of my monthly payment following the Change Date;
<br />�r ! } • (iii) any additional matters which the Note Holder is required to disclose; and
<br />(ivp the address of the association you could contact regarding any questions about the adjustment notice.
<br />II. CHARf3B9t WENS
<br />Uniform Covenant 4 of the Security Instrument is amended to read as follows:
<br />4, Cbugn-.1.ltas. Borrower shall pay all taxes, assessments, and other charges, fines, and Impositions attAtutable to the Property which may
<br />attain a prierhy over this Security Instrument, and leasehold payments of ground rents, if any. in the manner provided under paragraph 2 hereof
<br />a, if not paid in such manner, by Borrower making payment, when due, direcriv to the payee thereof. Borrower shall promptly furnish Lender
<br />a8 notices of amounts dre under this paragraph, and in the evert Borrower shall make ipa)anettt directly, Borrower shall promptly furnish to
<br />Lender receipts evidencing such payments. Borrower shall promptly dischuge any lien which has priority over this Security Instrument;
<br />however, Borrower slndt not be required to discharge any such lien s•.- long as 9oruinwer: (a) shall agree in writing to the payment of the
<br />obligation wcaad to) such lien in the manner acceptable to Lender; th) ilea :: ir. good fail 41 ;on test such lien by, or defend against enforcement: of
<br />such Ilea in, kgal proceedings which in the opinion of Lender operate to preven: tl:e anfotcetrent of the Ur, or forfeiture of the Property or any
<br />pan thereof; or (c) shaU secure from the holder of such lien an agreement in a frM watisfacnory to Lender subordinating such lien to this
<br />c. a ft !"Fa -2
<br />If Leader determines that all or any pan of the Property is subject ro a lien which may attain a priority over this Security Instrument,
<br />Lender shall give Borrower a notice identifying such lien. Borrower shall sarttfy such lien or take one or more of the actions set forth above
<br />within tent mays 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, (a) any notice to Borrower provided for in this
<br />Security Instrument shall be given by delisering 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 (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.
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