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200400827 <br />CASE #: NE3212335781729 DOC ID #: 0004903231501004 <br />FHA Case No. <br />NE3212335781729 <br />THIS ADJUSTABLE RATE RIDER is made this 2 3 rd day of JANUARY, 2 0 0 4 and is <br />incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed <br />( "Security Instrument ") of the same date given by the undersigned ( "Borrower ") to secure Borrower's Note <br />( "Note ") to <br />COUNTRYWIDE HOME LOANS, INC. <br />(the "Lender ") of the same date and covering the Property described in the Security Instrument and located at: <br />1316 N BROADWELL AVE <br />GRAND ISLAND, NE 68803 -3051 <br />[Property Address] <br />THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE <br />INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE <br />AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE <br />TIME AND THE MAXIMUM RATE THE BORROWER MUST PAY. <br />ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security <br />Instrument, Borrower and Lender further covenant and agree as follows: <br />INTEREST RATE AND MONTHLY PAYMENT CHANGES <br />(A) Change Date <br />The interest rate may change on the first day of APRIL, 2 0 0 5 , and on that day of each <br />succeeding year. "Change Date" means each date on which the interest rate could change. <br />(B) The Index <br />Beginning with the first Change Date, the interest rate will be based on an Index. "Index" means the <br />weekly average yield on United States Treasury Securities adjusted to a constant maturity of one year, as made <br />available by the Federal Reserve Board. "Current Index" means the most recent Index figure available 30 days <br />before the Change Date. If the Index (as defined above) is no longer available, Lender will use as a new Index <br />any index prescribed by the Secretary. As used in this Rider, "Secretary means the Secretary of Housing and <br />Urban Development or his or her designee." Lender will give Borrower notice of the new Index. <br />(C) Calculation of Interest Rate Changes <br />Before each Change Date, Lender will calculate a new interest rate by adding a margin of <br />TWO & ONE— QUARTER percentage point(s) ( 2 . 2 5 0 %) to the Current Index <br />d=-591U(9705).03 CHL (12/01) Page 2 of 4 Initlals: Z £ G' <br />40 <br />