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<br /> -----__---- . ADJUSTABLE RATE RIDEA ��,_ 1��1.�
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<br /> THISADJUSTABLBRATB[tIDSRifatafletht� 18TH___d�ypf mARCH ,�q� ,
<br /> and i�inaorporucd into�nd�hdt be deemat to emerA and�upplemrnt ehe Mort�a=a,Dad ot 7'rusb or&cuNt�peed(the"RrcurAy Imtrumeut•')o!
<br /> r, . tha wne date{Ivrn by tAe undeni�ed(the"8ortowet")to�ecurd 8ortower'�Ad)wttble R�te NMe(the"Nota")ta
<br />---�_---- ��ithe"Lende+")of the ua�e due�nd coverir►�the property descri6cd in che&su�ity tastrumrnt�nd loccted ats
<br />—' 150A ROSEmONT AUE. GRAND ISLAND NE 68801 �
<br /> ;�' APACHE. GRAND ISLAND NE 88801 ` -
<br /> QPropeny Aaarese)
<br /> ' TUs note coaW� provWau e11oMi�=tor cl���a(o aq i�terai ats wd esy mosty�
<br /> "�� psy�nenb.TYb rote aleo tindu tMo aaornt a�y i�terat nte n�cha=e�t��r oee Uwe R�d
<br /> '. �.''��r�. tko tiw mlNnun�s�d lM ma�d�oa�e�te t meit p�r.
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<br /> g�� ADDITIONAL COVENANf3.In addidon to the covenants and agramenta madc in the Savrlty Instrumeat,Botrower and I.ender
<br /> ;,:�';�.°�'�'��.�;�;, Nnhercovuuu�tandagreeasfoUows:
<br /> �f �, ,, . .
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<br /> ,i� A. INiEAEgT RATE AND MONTHLY PAYlIQ:NT CHANGFS
<br /> �•._ "'�" The Note providea!ot aa iaitial interest rate of 4•75 7u.Seaton 4 of the Note pcovtda for changes!n the iaterat rate ared the
<br /> ., �� ::;
<br /> � monthly paymenu,as foUowa:
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<br />'� � --- --.— -- - :. I.STEit�TR.4T�.1R'D:lifl".'TXLYP.4Y.�tE".TCX.4"'QES _^,TM-
<br /> (A) CNa�e Dttes
<br /> u � ' The inkrat rate 1 wUl pay may chenge on tha firat day of OCT�BER �ig 95 ��on that day every '�"�.
<br /> � . �Z �•.:.�
<br /> � months thercafta.Each date on which my interesc rate could chengo is caUed a"Chenge Data" -
<br /> (B) Thelndex ±`�`��,�
<br /> ` „ ' &glnntng with the flrst Change Date,rny intuest rate wiU be besed on en Indac.The"Irtdac"ia the weckly avuage yleld on United St�tea ►�.�S
<br /> ' Trras�uy saurIUea adJusted to a conatant maturtty of 1 year.aa made available by the Federal Resave Hoard.The most recent Index flg�ue
<br /> ' , � ' � . ., availabte as ot the date 43 daya betore each Change Date is calted the"CuRent Index.^ � �?
<br /> It the lnde�c ia no longer avaitable,the Note Holder wiQ choose o new index whSch ia baeed upon comparabk intamadon.Th�Note '��: ��'-��
<br /> , � , �� Holdu wili give me nodce of this choice. �� � ���—
<br /> �� ��'s��'�' TWO ANO ONE-HALF .'
<br /> " &fore each ChnnYe Date,the Note Holder will calcutete my rtew intereat rate by adding percentage , , '�.
<br /> ., , pointa( Z•5 9�)to ehe Current Indac and rounding to the nearest t/Sth of I pi,aubject to tho�imita ataud io Scction 4(D)below. • � ,
<br /> Thia rounded amount witl be my new Interdt rate unetl the next Change Datc. ���
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<br /> • The Note Holder wili then determine ehe amount of the monthty payment that would be eufficient to reyay In full the prindpat I am � �
<br /> expected ta owe on that Change Date in subatantially equat payment+by the maturity date at my new interest rate.Tlwrcsuit of this catcutation "
<br /> "' wili be the new amount ot my monthly payment.
<br /> � (D) IAmite on Intercst Rate C6anges • ,
<br /> Tlu interat rate I am required to pay at the flrst Chenge Date will not be greater than 6•?5 °lo or less than ,
<br /> , 2.75 %.Thereafter,my interat rete will never be incrcaud ar decreased on sny stngle Change Date by morc tt�an T�
<br /> • 2•� from the rate of intemr 1 have been paying for the praeding twelve months.The minimum interat rateon this loan wlll ncwer be
<br /> , ^ las then 2•?5 %and the mazfmum fnterest rate witl never t►egreater than 9•75 %.
<br /> (Et EttecB�e Date ot Changes "
<br /> My new interest rate will become effective on each Change Date.I wiil pay the amount of my new monthly payment txginnfng on the tirst
<br /> monthly payment date after the Change Date untii the amount of my monthly payment changcs again. '
<br /> (F1 Nodce ot Changes
<br /> 'Ihe Note Holder will mali or de{iver to me a notice before each Chenge Dnte.The nottce will advise me of: �
<br /> (p the new interest rate on my loan as of the Change Date;
<br /> (iq the amount of my monthly payment foliowing the Change Date;
<br /> (iii) eny addldonai matters which the Note Holder is required�o disclose;and �
<br /> (Iv) the addtess of the assoclatfon you could contact regnrding any questions about the adjustment notice.
<br /> ' B. CHARGF4;I.IRNS
<br /> Uniform Covenant 4 of the Security lnstrument is amended to reaJ as follows: �
<br /> 4. Ch�rgeat Liens.Sorrower shali pay all taxa,assessments,and other charges,Rnes,and impositions attrfbutable tothe Property which may �
<br /> , � , sttain a priorlty over thfs Securtty Instrument,and leaschold payments of ground rents,if any,in the manner provlded under paragraph 2 hereof ,
<br /> or,if not paid in such mnnner,by Borrower making paymen[,when duc,directty to the payee thereof.Barrower shall promptly furnish Lender i
<br /> all notices of amounts due under this paragraph,and in the event Borrowcr xhail make payment directly,Borrower:hall promptiy furnish to
<br /> � , l.ender recelpts evidencing such payments. Borrower shall promptiy discharge any lien which has priority over this Security Instrument; .
<br /> . however, 8otrower shall not be required to discharge any such lien so long as Borrower: 1a>shuU agree in writina to the payment of the
<br /> obligatfon saured by such lien in the manner acceptable to I.ender;fb)shnll in good faith coneest such I{en by,or defend agdnst enforcement of
<br /> such lien in,legal proceedings which in the opinion of Lender operate to prevent the enforcement of the tien or forfeiture of the Praperty or any
<br /> part thereot;or(c>shali secure[rom the holder of such lien an agrecment in a form sntisfactory to Lender subordinating such licn to this
<br /> . Security Inatrument.
<br /> . lf Lender determines that all or anY vart ot the Property i�wb�ect to a lien which may attain a priority over ihis Security Instrument,
<br /> � Lender shalf give Bortower a notice identifying such lien.Borrower shall sntisfy�uch I�en or take one or more oF the actions set forth above
<br /> •i within ten days of the gfvmg of the not ice.
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<br /> ; : C. NOTICE
<br /> :;� Uniform Covenant 14 of the Security Instrument is amended tn rca�i as fullow.:
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<br /> , 14. NoNce.Except for any notice requfred under applicable�aw to he given in another manner,(a)any notice to Borrower prorided(or in this
<br /> • Security Instrument shall be given by delivering it or by mailing it by(irst class mail to Borrower at the Property Addressor at such other address
<br /> as Borrower may designete by notice to Lender as provided here�n,and Ib)any notice to Lender cha�l be gh�en by(int class ma�l to Lender'ti
<br /> address stated herein or to such other address as Lendcr may designate by nutia to Borrowcr as providcd herein.Any wt ia pro�ided fur in th�e
<br /> Seturfty Instrument shal�be dcemed to have been given to BorroWer or Lender when given in the manner designated herein.
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