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200405260 CASE #: NE3212354360729 DOC ID #: 0006292226405004 FHA Case No. INE3212354360729 THIS ADJUSTABLE RATE RIDER is made this 21 s t day of MAY, 2 0 0 4 and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed ( "Security Instrument ") of the same date given by the undersigned ( "Borrower ") to secure Borrower's Note ( "Note ") to COUNTRYWIDE HOME LOANS, INC. (the "Lender ") of the same date and covering the Property described in the Security Instrument and located at: 113 E 12TH STREET GRAND ISLAND, NE 68801 -3819 [Property Address] 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: INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Date The interest rate may change on the first day of OCTOBER, 2 0 0 5 and on that day every 12th month thereafter. "Change Date" means each date on which the interest rate could change. (B) The Index Beginning with the first Change Date, the interest rate will be based on an Index. "Index" means the weekly average yield on United States Treasury Securities adjusted to a constant maturity of one year, as made available by the Federal Reserve Board. "Current Index" means the most recent Index figure available 30 days before the Change Date. If the Index (as defined above) is no longer available, Lender will use as a new Index any index prescribed by the Secretary. As used in this Rider, "Secretary means the Secretary of Housing and Urban Development or his or her designee." Lender will give Borrower notice of the new Index. (C) Calculation of Interest Rate Changes Before each Change Date, Lender will calculate a new interest rate by adding a margin of TWO & ONE— QUARTER percentage points) ( 2.250 %) to the Current Index -591 U (0404) CHL (03/04) Page 2 of 4 Initials: 1-� 1.