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<br />ADJUSTABLE RATE RIDER Q 10710 3
<br />(I Year Treasury Index -Rate Caps) v0 '
<br />• THIS ADJUSTABLE RATE RIDER is trade this 11 th day of
<br />and is Incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Tnut, or Security Deed (the "Security
<br />instrument") of the same date given by the undersigned (the "Borrower ") to secure Borrower's Adjustable Rate Note flhe "Note ") to NOME
<br />FIME aL SAVINGS i LOAN ASSWATION OF GRAND ISIJINM NEBRASKA (the "Lender ") of the same date and aovedng do
<br />property described in the Security Instrument and located at:
<br />2809 Brentwood Blvd, Grand Islands Nebraska 68801
<br />(Property Address)
<br />This view coald" provisions allowlag fair cbmw Is easy lalsrssl nw ad my Welkly
<br />payaNals. This stow adw Rrdts II11 nstswst BY Init}fssl raw cars cbialla al ANY a" Uwe sued
<br />also do tialalassal @W aka sawdessw raw I MM pay.
<br />ADDITIONAL COVENANTS. In addition to the covenants and agreements made in Ike Security Instrument, Borrower and Lender
<br />farther Covenant and agree u follows:
<br />A. INTEREST RATE AND MONTHLY PAYMENT CHANGES
<br />The Note provides for an Initial interest rate of 8.0 qi. Section 4 of the Note provide for changes in the interest rate and the
<br />monthly payments, as follows:
<br />4. INTEREST RATE AND MONTNL Y PAYMENT CHANGES
<br />(A) CLaage 000
<br />The interest rate 1 will pay may change on the t'ir,t day of January _, 19 92 __ , and on Ihat day every
<br />twe 1: v iEZ_ months thereafter. Each date oat which my interest rate could change is called a "Change Date."
<br />0) TM ladert
<br />keening with the first Change Date, my interest rate will be I•ascd on an Index. The "Index" is the weekly average yield o t Vaitrd States
<br />Treasury securities adjusted to a constant maturity of l year, as made available by the Federal Reserve Board. The most recent Invlex figure
<br />available as of the date 45 days before each Change Date is called the "Current Index."
<br />If the Index is no longer available, the Note Molder will choose a new index which is based upon comparable information. The Note
<br />Holder will give me notice of this choke.
<br />(C) Calwladon of CLaages
<br />Before each Change Date, the Note Holder will calculate my new interest rate by adding _t,,L—_= nd1 nna Jha I f percentage
<br />points ( 2.5 vii) to the Current Index and rounding to the nearest 1 /8th of I th, subject to the limits stated in Section 4(D) below.
<br />rounded This rod ami will be my new interest rate until the next Change Date.
<br />The Note Holder will then determine the amount of the monthly payment that would be sufficient to repa :, in full the principal 1 am
<br />expected to owe on that Change Date in substantially 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) Undis on fatenes Rate Changes
<br />The interest rate I am required to pay at the first Change Date will not be greater than 1 D, 0 or less than
<br />R-0 %. Thereafter, my interest t ate will never be increased or decreased on any single Change Date by more than . tuinpiargen
<br />(2-n) from the rate of interest I have Wn paying for the preceding twelve months. The minimum interest rate on this loan will never be
<br />less than R -fl lv14 and the maximum interest rate will never be greater than
<br />(E) Effective note 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) Notice of Changa
<br />The Note Holder will mail or deliver to me a notice before each Change Date. The notice will advise me of:
<br />(1) the new interest rate on my loan as of the Change Date;
<br />(i4 the amount of my monthly payment following the Change Date;
<br />(iii) any additional matters which the :rote Holder is required to disclose; and
<br />(iv) the address of the association you could contact regarding any questions about the adjustment notice.
<br />B. CHARGES: LIENS
<br />Uniform Covenant 4 of the Security Instrument is a mended to read as follows:
<br />4. Charges; tku. Borrower shall pay all tangs, as:sa,smems. and other charges, fines, and impositions attributable to the Property which may
<br />attain a priority over this Security I nstrument, and leasehold patimcnts of ground rents, if any. in the manner provided under paragraph2 hereof
<br />or, if not paid in such manner, Is% SOTTower making royment, when due, directly to the payee thereof. Borrower shall promptly furnish Lender
<br />all notices of amounts due under this paragraph. ant in the went Borrower shall make payment directly, Borrower shall promptly furnish to
<br />Lender receipts evidencing such payments. Borrower ,hall promptly discharge any lien which has priority over this Security Instrument:
<br />however, Borrower shall not be required to discharge any such lien so lung as Borrower: (a) shall agree in writing to the payment of the
<br />obligation secured by such lien in the manner acceptable to lender; (h) shall in good faith contest such lien bv, or defend against enforcement of
<br />such lien in, legal proceedings which in the opinion of lender operate to prevent the enforcement of the lien or forfeiture of the Property or any
<br />part thereof; or (c) shall secure from the holder of such lien an agreement in a form satisfactory to Lender subordinating such lien to this
<br />Security Instrument.
<br />6{, V�.eui,v Inc, ror,vnl
<br />If Lender determines tear an or any pan of Inc rn.pci it „ ,uLrc.; d ;aa 'w �;: � , :�; ::a::::. pr:c:::;• �::' ••••- _ - - -• ••. - - -
<br />Lender shall give Borrower a notice identifying such hen. Borrower shall satisfy such lien or take tine or more of the actions set forth above
<br />within ten days of the giving of the notice.
<br />C. NOTICE
<br />Uniform Covenant 14of the Security Instrument is amended to read as tollows:
<br />14. Notice. Except for any notice required under applicable law to he given in another manner, (a) any notice to Borrower provided for in this
<br />Security Instrument shall be given by delivering it or by mailing it by first etas% mail to Burrow cr 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 ,nail to I ender',
<br />address stated herein or to such other address as Lender may designate by notice to Borrower as provided herein. Any notice pros ided ha in this
<br />Security Instrument shall be deemed to have been given to Burrower or Lender when given in the manner designated herein.
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