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<br /> J , �4DJUSTABL�RATE itlDF.it
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<br /> THIS ADIUSTABLE RATE RIDBR is made thL 19TH d+rvt NOVEMBER �19 93 .�4
<br /> incorpor�ted into and r►hiU be dxmed to unead aad.uppkmrnk the Morc�e.Doed ot 7nut or Security Deed(tbe
<br /> � _`�-�� ••Secucity,Iattruaaa�t")of t6e ame date{ivea by t6e uadati�ed(the •`Borrowa")to�ecurt�Joerowet'i AtlJuwbit
<br /> - -- - RaceNote(che"Notc")to Tb Eo�it�bit��i1Hny�ad Laa As�otiitiaaot Gnnd lsitad,N�6�takt, �
<br /> . F�d�r�1 Sav i��s u�k (�"�r")of the s�me du��ad covarin�tbe propacy daa�ibed
<br /> ia tht Security lnstrumeac uid locaced u:
<br /> u 301d ORLEANS DR GRAND ISLANO, NEBRASKA 0$803-3421
<br /> l��r��1
<br /> .—��.._ THE NOTECONTAINB PR01fIS10NS ALLOWINQ FORCHAN�3ES IN THE INTEREST RATE
<br /> ANp THE IYIONTHLY PAYIMENT.THE NOTE UMRS THE AMOUNT THE BORROWER'S
<br /> - INTENEST RATE CAN CHANQE AT ANY ONE T1ME AND'TNE IMAXIMUM RATE 1HE BOR•
<br /> ~ • ROMIEq MIJST PAY.
<br />-.� --- - -
<br /> ADDITIONAL COVENANTS.In�ddtdon ro the covenauts�nd�raments made in thc 5ecurity IrWrumeat.
<br />.= Borrower and Lender further covenant and a�ra as foUaws:
<br /> A.INTF.R�ST RATE AND MONTHLY PAYMENT CHANGFB
<br /> Tlu Note provides for en init3al intar�c rate of�.T 50 �.T�Note provide�for cwan�a in tbe iatereat rate and t1�e
<br />-'s� . montWY p�yraents� os follow�:
<br /> 4.IWTERFST ItATE ANU MONTHLY PAYMENT CHANGE9 .
<br /> `•' � d (A)���k+ OE�EMB ER �19 94 .and on that day .
<br /> ' Thc interac rAte�wW pay maY chanQe on the first dtty of ,
<br /> ��':.� every l2th month thccsaftv. F.nch date oa which my intere�t rate cou{d,ch�e u called a"Ct�an�e Uate."
<br /> ,. B)'1Le I�iex�
<br /> � • � , BeginnlnA with the first Changa Due,my interest rate wUl be baud on an Index.The•'tndex"is the wakly
<br /> :..'!;,;��f'�:. avera�e yleld on Unitod States Treasury securlties adjusted to a canstw►t matnrlty of 1 year,as mAde available by
<br /> • �.. .,.�;•. ,. .
<br />- . ,::�„�•�:,;��:,� •; y the F'ederal Reserve Boud.The most raent Index fi�urc available as of the date 45 days before etach C aa�e ate
<br />.,Y � �''�' ... ,,�, � it called the"Cunent Index.••
<br /> � �'�`'`""°" If the Index is no lon�er available,the Note Holder will choose a new index which is based upon.comparabk
<br /> �'�^,..�'r�'°���,'��-��'� information.The Note Holder will give me notice of thts choice.
<br /> ' `����:�'�'.'•��",'�., ` (C)Gkultt�ou ot Cb�a�es
<br />-i r;v..�;•,�.�,/i.�'�µ•�, .�.;;- .
<br /> �1��„�.a�a Before each ChAnge Date,the Note Holder will calculate my new interest rate by addiag T�
<br />�!1� �•;•: �• - _ percentagc points( 2.000 %i)co the Current Index.The Note Holder wiU then round
<br /> ' ._°,�:!"•"r.�.. �`� . the rault of this addition to the nearest onc-cighth of one percentegepolnt(0.125yi).Subject to the lunita stated
<br /> � ��s����� � ip Section 4(D)below,th➢s rounded amount will be my new interest rate until the next Chan�e Date.
<br /> � .�.�r:��:...�. :
<br /> : �a �_. � �' Thc Note Holder wilt then determine the amount of the monthly payment that wauld be:uf�cient to repay
<br /> ,,,�,;.,,,... ,: , the unpald principal that I am expected to owe at the Change Date i n full on the maturity date at my new interest
<br /> • _ . • r�te tn substantially eyual payments.The result of this calculation wiil be the aew amouat of my monthly payment.
<br /> ,.
<br /> �_�.�;�.. ....ti�
<br /> �G ' � � (D)Liaiita on Interest R�te C6s�aQes
<br />- .:,,..� � , •,.
<br /> ,::� .,.. The interest rau I am requlrod to pay at thc first Change Datc wiY na be yreater than 6.7 5 0 hi or less than
<br />_`_ �� `.�•��: _ 4.00 °10.Thereafter,my interest rate wi11 never be increased or decreased on any single Change Date by
<br /> . ;� . more than two percentage potnu(2.0%)from the race of interest I have ban payin�for the preoeding iwelve months.My
<br /> -'y ,: . � interest rate will never be greatK than 9.750 %.
<br />-'� ��„~ .''r' ' 'a� (E)Ettecdve DAte ot Char�es
<br />�;;,. ' �,,.�: ,,,.,.�; My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly
<br />= payment beginning on the�rst monthly payment date after the ChanQe Date until the amount of my manthly pay-
<br /> ��:.:L;,: ', ,.
<br />__ �, . ;,�-•=- mcnt changes again.
<br />_. , iF,..,.... . ..
<br /> .. • :. ._ (F) Notice of Chwoges =
<br /> - ^��'-�' ' ���'�';;a The Note Holder will deliver or rnail to me a notice of any chanses in my interest rate and the amount of my -
<br /> ry,:.. ._
<br /> ,� �,h.`;�•;•�',;;�'� monthly payment 6efore the effective date of any change. The notice will include information required by law to _
<br /> ".}'• . ''..�� be given me and also the title and tclephone number of a person who will answer any guestion I may have regazding
<br /> - .i :�t>�,�.
<br /> 9. :Ai
<br /> ' :<f the notice.
<br /> - B.TRANSFER OF 7'HE PROPERTY OR A BENEF[CIAL INTEREST IN BORROWER
<br /> �+ Uniform Covenant 17 of the Sccurity Instrument is amended to read as follows:
<br /> Triwfer af t6e Property or�Beaeticld Intcrest io Borrower.l f ell or any part of the Property or any interat
<br /> In it ic sold ar tran�ferred(or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br /> person)without Lender's prtor written consent,Lender may, at Its option, require immedia[e paymeni in iuii oi
<br /> all sums secured by thls Security Instrumeat. However.this option sh�ll not be exercised by Lender if excrcise[s
<br /> "'= prohibital by foderal law as of the date of this Sccurity Instrurnent.Lender ako shaU not exerciso this option if:
<br /> (a)Borrowu qures to be submltted to Lender infonnation required by I.ender to evaluate the intended transferee
<br /> as if a new loan wae beinQ made to the transferee;and(b)Lender rcasonably determina that Lender's security
<br /> wtll not be impdred by the lou►auumption and that the risk of a brcach of any mvenant or a�rcement in this Securi-
<br /> ty Inurument is aacptsble to Lender.
<br /> To the actent permitted by applicable law,Lender may chuQe a cwsowtbk fa as a condit ion to Lender's con-
<br /> seot to the loan assumption.I.ender cmy also require thc transfara to sign sui assumption a�resmeat that is accepc-
<br /> aWe to Lenda and thu obli�aatea the truuferoe to keep all the prornises and a�rctimrnta made 1r�the Note and in
<br /> th4 SecuritY I��►cnt.Borrower will rnntinue to be oblisated uoda the Not�aad this Secwity Iastrument unlas
<br /> Leacfer rdea�a Borrower ia writins.
<br /> M{N.iMTAT[AD�1YiTA�IE MTE��R—A�I�2—''NW F�nw1Y—N�i�MMif�'�iM Mr 1JNNr�w MY��t F�7111 71�i
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