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<br /> J � ADJUSTABLE RATE RIDER
<br /> _-.—�_ __ (1 Ysu Trawry i�da--Rate C�p) 002002s916
<br /> . THIS ADJUSTABLE RATE RIDER ia made thls 1 ST day of FEBRUARY .19 94 ��d�
<br /> __-------- incorpor�ted into and ihall be deemed to�mend�nd�upplement the Mort�a�c�Deed of Tru:t or Security Cked(the '
<br /> �' �„ "Secudty inatrument")of the wmc datc�iven by the underai�ned(the"Bonower")to secure Borrower'�Adjustable
<br /> �; RaceNote(che"Note")to Th� Equtt�bl� Buitdinp �nd lo�n As�oci�tian of �r�nd Island,N�brtsk�, A c �
<br /> - Ftder�l S�vinq� 8tnk (the•'Lender")of the ume due and covednQ the property described
<br /> - __� � In the Secudty Instrument aad locnted at:
<br /> - �.�::,���._�..
<br /> i���-m�a:�''�l 2908 HANCOCK PL QRAND ISLAND, NEBRASKA 68803-3401
<br /> �
<br /> -=v y. :,�••�,K (P(opecty Addrat)
<br /> ��
<br /> �'`"�`L-''"��'� THE NOTE CONTAINS PROVISIONS ALLOWINO FOR CHAN�ES IN THE INTEREST RATE �
<br /> a��:
<br /> - AND THE MONTHLY PAYMENT.THE NOTE LIMITS THE AMOUNT THE BORROWER'3
<br /> ""`"-`"`�=' INTEREST RATE CAN CHANl3E AT ANY ONE TIME AND THE MAXIMUM RATE THE BOR-
<br /> x�::.�°.��.,���s�.aa�sra --
<br /> nt�a
<br /> ROWER MUST PAY.
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<br /> �:�..:�..�`�':::.:�- �� ADDITIONAL CAVENAN7'S.ln addition to thc tovcnants and agreements made in the Secudty Instrument, --
<br /> � Borrower and Lender further covenant and agree as follows: �����
<br /> �+.`� •� •' A. INTERFST RATE AND MONTHLY PAYMENT CHANGFS
<br /> The Note rovides for an initial intere,st rate of q, ��p %.The Note provIdes for changes in the interest rate and the ��~,
<br /> , P
<br /> � ' , monthly payments, as follows:
<br /> � 4. INTERFST RATE AND MONTHLY AAYMEN'�CHANGFS
<br /> � � •��y (A)Chaa�e D�ta
<br /> FEBRUARY 95 ��
<br /> • ' � ' >°. The Interat rato I will pay may chnn�e on the firat day of ,19 ,and on that day
<br /> � �� every 12th month thereafter. Each date on whlch my intereat rate could chan�e i�caUed e ••Chan�e Dete."
<br /> . . .... �-
<br /> „ , ���,�,;,_. '
<br /> _'.;`---- --- t83�'�+e 4adex _
<br /> BeatnninQ with the first ChenQe patc, my Interest rate will bc based on an Index.The"Index" 1s thc wcekly _-��
<br /> avero�c yield on Unitcd States Treasury securities adjusted to a constant mAturfty of 1 ycar,as made available by - -
<br /> thc Federal Rescrvc Board.Thc most recent Index fisurc available as of thc date 45 daya before each Chan�c Datc
<br /> is c�lled the'•Current index." ���
<br /> If the Index is no longer available. the Note Holder will choose a new index which is based upon comparable �'��
<br /> information. The Notc Holder will givc mc notice of this choicc. --
<br /> (C)Cekulption of Chpnges
<br /> Before each Change Date,the Note Ho2 e�1 calculate my new Interest rate by adding � �.`,
<br /> _. � percentage points ( �u)to the Current Indcx. The Note Holder will then round
<br />°.� the result of this addition to the nearest one-eIghth of one percentage point (0.125°l0). Subject to the 13mits stated •
<br /> • '��' in Section 4(D)below, this rounded um�unt will be my new interest rate until tt�e next Change Date. �
<br />� The Note Holder will then determine the amount of the monthly payment that would be sufftcicnt to repay s .;
<br /> • the unpaid princlpal that [ am expected to owe at the Change Date in full on the maturity date at my new interest �
<br /> , ; rate in substantiaily equal payments.The result of this calculation will be the new amount of my monthly payment. �
<br /> R � ��;;i,•
<br /> (D)Limits on Interest Rnte Ch�nges +
<br /> . • ��x�V The Interest rate I am required to pay at thc first Change Date will not be greater than 6.7 50 °lo or less than
<br /> •�- 4.00 %.Thereafter,my interest rate will never be increased or decreased on any single Change Date by .
<br /> � ' more than two perccntage points(2.0°l0)from the rate of interest I havc becn paying for thc preceding twelve months.My
<br /> �+ . �.+n �'" � intercst rate will never be greater than 9.7 50 %. t`"
<br /> ' tr � � (�)Etiective DAte of Ch�nges G
<br /> �, � - My new interest rate will become rffective on each Change Date. I will pay the amount of my new monthly
<br /> � t payment beglnning on the first monchly payment date after the Change Date until the amount of my monthly pay �
<br /> :�: ,
<br /> ,�, � ment ch�nge� again.
<br /> �_ (F)Notice of CManges
<br /> The Note Holdcr will deliver or mail to mc a noticc of any changes in my intcrest ratc and thc amount of my
<br /> � : �� -- monthly payment before the effective date of any change.The notice will includc information required by law to
<br /> ;y..°.;;_.... be siven me and also thc title and telephonc numbcr of a person who will answer any question 1 may have reyarding ,
<br /> ;,�i{e:�w:.:..' the notica 1, '
<br /> '�• '��%-' • : B.TRANSFF.R OF THE PROP�It7'Y OR A BENI:FICIAL INTERF:ST IN BORROWER =
<br /> _La.� Mr.�. • - � .
<br /> ' ' ` Un{form Covenant 17 of the Security Instrument is amended to read as foltows:
<br /> ' ��j' Trnnsfer ot the Property or a Beneticial Interest in lbrrower.lf all or any part of the Propcny or any interest
<br /> — i..s.t��..f.�.........0..�.t l...SO e h�nwfirial cnr�re�t in Rnrrower is xold or cransferrcd and Borrower is not a natural ' .
<br /> ;�;— �person)without Lcnder's prtor wrttten wnsent, Lendcr may, at its option, requfrc immediate payment in full of
<br /> ;� �,�'G I , all sums secured by this Security Instrument. However,thts option shall not be exercised by Lender if exercise is i .
<br /> � prohibited by federal law as of the date of this Security Instrument. Lender also shall not exercisc this option if: !�
<br /> � (a)Borrower causes to be submitted to Lender information required by Lender to evaluate the{ntended transferee
<br /> as if a new loan were being made to the transfercc;and(b) Lender rcasonably determirees that Lender's security
<br /> will not be impaired by the loan assumptton and that the risk of a breach of any covenant or aQrcement in this Securi• k, .
<br /> ty Instrument is acceptable to Lender. �u°'
<br /> rar,�
<br /> To the extent permitted by applicable law,Lender may charge a reasonable fee as a condition to Lender's con- ;►•:,
<br /> sent to the Ioan assumptton.Lender may also require the transferee to sign an assumption agreement that is accept- �.�'''
<br /> s�b(e to Lender und that obli�ates the transferee to keep all the promises and agrcements made in the Note and in �-�:
<br /> this Security Instrument.Honower will continne to be obligated unc3er the Note and this Secudty Instrument unless ---
<br /> � � I.endcr releaus Borrower in writin�. m+;��
<br /> _ — �___ � MUI.TIiTATE A0.1U�TA�i,i RATi RIDER—A11M b•2—SInqN FrnNy—FrtnN Mw/Fnddh Mw Unitomt MyMun�M Fotm 3111 3lB6
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