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. • S9 10'�372 LOAN #: 9765066 ADJUSTABLE RATE RIDER (LIBOR 6 Month Index(As Published In The Wall Street Journal)-Rate Caps) THIS ADJUSTABLE RATE RIDER is made this 13 TH day of JULY, 19 9 9, and is incorporated into and shall be deemed to amend and supplement the Mortgage,Deed of Trust or Security Deed (the "Security Instrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Adjustable Rate Note(the "Note")to NORTH COUNTY REAL ESTATE, INC. dba HMC FUNDING, A CALIFORNIA CORPORATION (the "Lender")of the same date and covering the property described in the Security Instrument and located at: 505 West Stolley Park Road Grand Island, NE 68801 THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE THE BORROWER MUST PAY. ADDITIONAL COVENANTS.In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of 9 .8 5 0�. The Note provides for changes in the interest rate and the monthly payments,as follows: 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The interest rate I will pay may change on the first day of AUGUST, 2 0 0 2 and on that day every 6TH month thereafter. Each daie on which my interest rate could change is called a "Change Date." (B) The Index Beginning with the first Change Date,my interest rate will be based on an Index.The``Index"is the average of interbank offered rates for 6 month U.S. dollar-denominated deposits in the London market("LIBOR"), as published in The Wall StreetJournal.The most recent Index figure available as of the first business day of the month immediately preceding the month in which the Change Date occurs is called the "Current Index." If the Index is no longer available,the Note Holder will choose a new index that is based upon comparable information. The Note Holder will give me notice of this choice. (C) Calculation of Changes Before each Change Date,the Note Holder will calculate my new interest rate by adding FIVE AND 9 5/10 0 percentage point(s)( 5. 9 5 0� )to the Current Index.The Note Holder will then round the result of this addition to the nearest one-eighth of one percentage point(0.125%). Subject to the limits stated in Section 4(D)below,this rounded amount will 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 suff'icient to repay the unpaid principal that I am expected to owe at the Change Date in fizll on the Maturity Date at my new interest rate in substantially equal payments. The result of this calculation will be the new amount of my monthly payment. (D) Limits on Interest Rate Changes The interest rate I am required to pay at the first Change Date will not be greater than 12 . 8 5 0�, or less than 9 . 8 5 0�. Thereafter,my interest rate will never be increased or decreased on any single Change Date by more than ONE-HAL F OF ONE percentage point(s) ( .5 0 0$) from the rate of interest I have been paying for the preceding ( months. My interest rate will never be greater than 15. 8 5 0� nor 1 e s s than 9 . 8 5 0�. (E) Effective Date of Changes My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly MULTISTATE ADJUSTABLE RATE RIDER-LIBOR 6 MONTH INDEX(AS PUBLISHED IN THE WALL STREET JOURNAL) -Single Faznily-Fannie Mae Uniform Instrument Form 3138 6/94 Page 1 of 2 P5327RDU 411 I