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I AWSTABLE RATE UDER 90- -107321 (I Year Traaaaty Imda•Rawcapa) 11 th December Ili 90 THIS ADJUSTABLE RATE RIDER is mode this day of - , and is Incorporated into and shall be deemed to amend soli supplement the Mortgage, Deed of Trust, or Security Deed (tire "Security lnuruturnt ") of the same date given by the undersigned (the "Borrower') to secure Borrower'& Adjustable Rate Note (the "Nota") to" M8 - •••�••as not: tr08 i LOAN ASMATION OF GRAND ISLAND. Ngg9A► !k(the "Lender ") of the ammo date and coverlets the property described In the Security Instrument and located at: RR 112. Box 177A, Doniphan, Nebraska 68832 (Property Address) Thin; sale coatalw povlatoss albwlss fa thouloo a Is etiy lateral ate sad say 0=01 pmlinaedalL Tila note alas Uralla clot Seems, my Iatonst rate as chomp at any am Ants sari w the ttttatlaaaataeid (M smadastm rate I wad pay. ADDITIONAL COVENANTS. to addition to the ooveaante and sgaeetnents made in the Security Instrument. Bmrotra and lender further covassnt o ndsgreeaa fotbws: A. INTEREST RAIM AND MONUMT rAVl11t:NT CHANGES for chtatges in the interest rate and the The Note provides for are initial interest rate of 8.0 4i. Section 4 of the NM provides monthly payments. as fdbws: 4. INMEST RATE AND MONTHLY PAYMENT CHANGES (A) Clamp Dole January ,19 92 .and on that day every The iotoxest rate 1 win pay may change on the first day of 12 months thereafter. Each date on which my interest ate could chtinge is called a -Change Date." (Y) The Inds 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 Treuugr securities adjtstte4 to a constant maturity of I yeah. n made available by the Federal Reserve Board. The most recent Index figure available as of the date 4? (lays before each Change fate is called the "Current Index." If the Index is no longer available, the Norte Holder win choose a new index which Is based upon comparable information. The Note Holder win give sea notice of this choice. (C) Eve'i'donedc tools two and one —half BefoT Th Change Date, Ux Norte Holder will cakuLrm my new interest rate by adding percentage points ( L • 5 vii) to the Current Index and rounding to the nearest I /8th of 1%, subject to the limits aimed in 5ectbn 4(D) below. This rounded amount wI11 be my new interest rate until the next Change Date. The Note Holder will then determine the amount of the monthly payment that would be sufftcien't 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 calculation will be the new amount of my monthly payment. (D) units on lateral Rate Cbaages 0 . 10 eta or Ides than The interest rate 1 am required to pay at the first Change Date will not be greater than i s -n Br. Thereafter, my interest rate will never be increased or decreased on any single Change (gate by more than ,,rri 2-n from the rate of interest I have been paying for the preceding twelve months. The minimum interest rate on this ban will new be less than s _ 0 % and the maximum interest rate will never be greater than 3 - - -° r• (E) Effective Data of Changes My new interest rate will become effective on each Change Date. l will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change Date until the .Amount of my monthly payment changes again. (Fl Notice of Cb@RM The Note Holder will mail or deliver to me a notice before each Change Date. The nclice will advise in of: (i) the new interest rate on my loan as of the Change Date: (ii) the amount of my monthly payment following the Change Date; (iii) any additional matters which the Note 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. Charges; Lkas. Borrower shall pay 211 taxes, assessments, and other charges, fines, and imposition+, a':: r:butable 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 ipayte thereof. Borrower shall promptly furnish Lender all notices of amounts due under this paragraph, and in the event Borrower shall make f:iymem directly. Borrower shall promptly furnish to Lender receipts evidencing such payments. Borrower shalt promptly discharge any lien which has priority over this Security Instrument; howsn.er. I)krrower shall not be required to dischuge any such hen so onit as Borrower: ta) shat, ajree in writing to the payment of the obligati, r. secured by such lien in the manner a.cerra'^le w t ender; (hr shr;i In good faith contest such ties by or defend against enforcement of such lien In. legal proceedings which in the opinion of Canner operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof; or (c) shall secure from the holder of vu: ` ;:en an agreement in a form satisfactory to Lender subordinating such lien to this Security Instrument. u r..Id!w de!V!.,i"e thar all nr any nary of the Proneriv is subject to a lien which may arram a priority over this Security Instrument, Lender shall give Borrower a notice identifying such lien. Borrower shall sausfY such hen or take one or more of the actions set forth above within ten days of the giving of the notice. C. NOTICE Uniform Covenant 14 of the Security Instrument is amended to read as follows: 14. Soda. Except for any notice required under applicable law at (x pxsen in another manner. (a) anv notice to 1orrower provided for in this Security Instrument shall be given by delivering it or by mallingit by first doss mail to Borrower at the Property Address or at such other address as Borrower may designate by notice to Lender a, provided herein, and (b) any nonce to I ender shall he given by lirst class mad h) Lender's address stated herein or to such other address as Ltsider may designate by notce to Borrower as pros tided herein. Any' notice pros tded for in this Security Instrument shall be deems d to haiv been given to Borrower or Lender when given in the manner designated herein. a�1= AS- n.rr.•w. _ __- -_ - r RN , , } r t. i