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,_..__. _ --. � � � ADJUSTABLE ItATE Rll)ER �9 �Q S�$� (1 Year Treasury Indcx-Rate Caps) �„ THIS ADJUSTABLE RATE R1DER is made thls Z9 th daY pf No�ember _��g 89 � � and is lncorporatecl into end shall t+o deemed to artiend and supplement thc Matt�age, Qeed of Trust, or Security Deed (the "Security lnstrument")of tht sstme d�te Qivcn by the uadetslQtted�the"Bonuwer")to sccurc Borrowcr's Ad)ustahle Rate Note(the^1Vate")to HOIIIIE F.F.�El1A �AYINQ�� I.QAk/1�SQCIATION aP QRAND 18LANQ, NEORASKA(th; "l.:ndcr")of thc a:me date and coverie�y tha property descrlbGd ia thr Security Instrument�nd locxted�t: 240? Riverside Drive, Grand Island, NE 68801 d� 2310 West Anna. Grand Is2and, NE 69803 (Praperiy Addrcss) TW �ote co�t�ir �ovWMU alb�viq tor clu�a 1� �y l�terat nte ��d �y �tMiy psy�e�b.rih Note aho It�lu t�e�do��t My I�terea�nte cap cl�sete at��y o�e ti�e��d dw tla sidoo��d tYe mulmtia nte 1�wt p�y. � ADD1TlONAL COV$NI►NTS. In addition to the covenants and agramenu mxde in the SecuNty instrument,Borrower and l.ender funher covenant and airee as follovrs: A. !Mp'F.AFST RATE AND MONTHLY tAYMENT CHANGES The Note provldes for an inldal interest rate of 8.50 qo.Section 4 of the Note provides for chAnges in the Interest rate and the monthly paymenu.u foqows: , �. INTEREST RATE AND MONTHLY PAYMENT CNANGES ' (A) (.'�u�e D�ta , The interat ra e 1 will pay mAy change on the tirst day of Januarv 1 �19 91 ,and on that day every twBl ve 12 manths thereafter.Each date on which my interest rate could change is called a"Change Date." � (1) 'I'Me I�dat Beiinainj with the first Chanse Date,my interest rate will be bascd on an Index.The"Index"is the weekly average yleld on Untted States Traswy securitles adJusted to a constant maturity of 1 year.as made 3vailable by the FMeral Reserve Board.The most recent Index ftgure ava�tabk�u oFthe date 13 days 6efore each Chan�e Date ls called the'•Current Index." _ !f tbe Indea i�no tonjer availible,the Note Holder wiU choose a new index whick�is based upon comparsbk iaformsuion.The Note = � Holder will sive me notice of th9s cholce. . . `1 (C1 CallM�tlO�Of CM�lf � �S Hefore ach Chan�e Date,the Note Nolder wlll alculate my new inurat rate by adding two d� one/half p�� :�:-u paina( Z•50 �Fi)to the Current index and ra�ncfina to the nearest i/Sth of 1�Ii.sublect to the Umita stated in Sxtion 4[D�hslo�v._ . . - . 'tliI�rou�dsd smount will be my aew interest rate nntil ttat aext Change Date. ,� T6e Note Holder will then determine the amount of the monthly payment that would bt sufficient to repay in full the pren«pat 1 am = I eapocted to owe on that Change Date in substandaUy equal paymenu by the maturity date at my new interest rate.'fhe rault oF this calculation wiU be the new amouat of my monthly payment. (D) I.i�ih w I�terest Rste AaKa =, 6 50�terat nte I am required to pay at the first Change Date wiU not be greater than �d•�� alo or 1 than , • �Ri.Theres�fur,my lnterat rate will never be increased or decreased on any single Change Date by more than TIirD 2 oercent from the rate of interest I have ban � paying for the preceding cwelve months.The minimum interest rate on thls loan wiU never be �� 6.50 ��the m�ximum interest rate will never be greater than 13.50 q�, j (E) EltecNre D�te of C.Wr�cs � My new lnterest nte will become effective on each Change Date. 1 will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change Date until tho amount of my monthly payment changes again, --- lF) Nolke ot CMa�es '� The Note Holder will mail or deliver to me a natia before rach Change Date.The notice will advise me of: •,� (i) the new interat rate on my toan as of the Change Date; j;=.-_ (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 tddtess of the association you could contact ragarding any questions about the adjustment notice. --- S. CHARCFS;LIENS Uniform Covenant 4 of the Security Instrument is amended to read as follows: • - 1. C1wr�:lJewr.Burrnwcr shali pay aii tsaes,assessments.and other charges,fines,and impositions�attributa6le to the Properfy which may attRin�priority over this Security Instrummt,and leasehold payments of gound renu,if any,in the manner providaf under paragraph 2 herwf ot.if twt paid in such manner.by Horrower making payment,when due,directly to the paya thereof.Bonower shaU prompdy furnlsh Lender ' �II notices oi amounts due under this paraQra�h,and ln the event Borrower shall make payment directly,Borrower shall promptly funiish to l.ende� reeeipl�evidencins such payments. Borrower shall promptly discharge any lien which has priority over this Security instrument; however, itorrower shall nut be required to dischuge any sucb lien so long as Borrower: (a)sha11 agce in writing to the payment of the — obli{ation�ecured Ay sucA lien in Ihe manner accepieble to Ltnder;(b)shall in good i'aith contest such lien by.or defend against enforcement of suCh Nen in,kql procerdings which in the opinion of Lender operate to prevent the enforcement of the lien or forfeiture of the property or any �--�--" �tt IhereoF,or(c)shall secure fram Ihe holder of such lien an agreement in a form satisfactory to Lender subordlnating such lien to this � ticcurity In�trument. � If l.ender delermines that all or any p�rt of'the Property is subject to a liea which may attain a priority over this Security lnstrument, l.endtt shall�ivt Hottower o notice identifying such lien. Borrower shall satisfy sucb lien nr take one or more of the actions set f�rth above • � � witllie ten d�y�ot fhe giving of the notice. � l'. NA11�'t; 1�nifunn('ovcn�ut I4 oi thc Security Insrrument ia atncndcd to rrad es follows: 1�. !Yntkr.!•ac�1 for�ny ni+bre rcywred�nder applicablc taw to be given in annther manner,(a)any no�icc to 13orrower provided for in thia h ��.unly Inti�ru!ncnt�hull l.e elveu hv deiicen��g it nr hy ma�Lng��by hrct c!ac�niai!to F3orroµer at the Yroperly Address or at cuch other address � ��; flnn��NCr ntay dr��gn:�tc hy nnure��r 1 cnder ati priwiJcd hcreiu,and Ibl any notice to 1 cndcr chall he Ki�cn Ny tirtit cl�i.ti m�nl tc. 1 cudcr'� � a�IJ�c„�i;ui�J hcrein��r tu�.uJ�nlhcr addreu:�ti 1 endet tn.iy detiiµnale by nutt�e lu ffortt�wet nti pmti�ded herein. �1m n��icr t,r�,�ided foi �n ihi� �'. —Y 4t,w�i�ImUun�cau�h,,tl he decmed ro h,��r heeu g��ei�t«linl ruwrr nr 1 endrrµhrn�a�en!n thc rnanner de�if�nated hcre�u ' � � � 'J�F �f��: . `1•'. r'� ,'�'��'•��• � ,. . � � �