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<br /> -_-- - _ ----- 94- "�
<br /> - - � ADJUSTABLE RATE RIDER -
<br /> - -_— (i Year Tretwry lndcx—R�te�ps) 002002897y
<br /> -- = THIS ADJUSTABLB RATE A1DER is aiade thia 2 STH day of MARCN +19 94 ��d�
<br /> lncorporat�d lato and shall be deemed ta amend and supplement the Mortgage�Deed of Trust nr Security Deed(the
<br /> - --__ — "Sticudty instn�ment")of the�ame dste�iven by the unde�slgned(the'•Borrower")to sxure Horrower's Adjustnble r_ ____
<br /> RatcMote(the"Note")co Trte Equitadie Building and loan Aasactetion of arenQ Isiand,Nebraske, A
<br />- Federal 8av ing�Benk (the"Lender")of the eame date and covedng the property descdbed
<br /> In the Securlty Iastrument aad located at:
<br /> � 721 CHURCH RD ORAND ISlANO. NEBRASKA 88801-7183 �
<br /> ."� {Property Addreasl � - ._ �,.
<br /> -'� 4� � THE NOTE CONTAINS PROVISIONS ALLOWIN�FOR CHANQE8IN THE INTER�8T RATE
<br /> % " • '�.., AND THE MONTHLY PAYMENT.THE NOTE LIMITS THE AMOUNT THE BORROWER'&
<br /> rc;. i y,..:.
<br /> �'� . �:�, INTEREST RATE CAN CHAN�E AT ANY ONE TIME AND THE MAXIMUM RATB THE BOR-
<br /> "�'' ,c�-'�4;�•;�.?�±�i� ROWE�i MUST PAY. . - _-
<br /> ��`• lti:,�..
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<br /> ' � � - ADDITIONAL COVENANT'S.In additton to the covenante and agreements made in the Security Insuument� =--_-
<br /> ��,��:� . Bonrower and Lender further covenaut aad agree as foAows:
<br /> .�t..�- . A.tNTERFST RATE AND MONTHLY PAYMENT CHANGF.4 • ��'`g'�
<br /> � ._ ,,.
<br /> r:• � � „, ' The Note provides for an initlal inure�t rate of 4.7 5 0 %.The Note provides Por changes in the interest rate an e
<br /> � monthly payments,as follows: �:_
<br /> 4.INTERE3f ItATE AND MONTHLY PAYMENT CHAPiGE4 e;..
<br /> . (A)Change Dates �'-�--
<br /> The Interest rate I wiU pay may change on the first dsy of AP R I L ��q 9 5 ,�d on that day �—
<br /> c,. every 12th month thereafter. Each date on which my interest rate could change is called a "Change Date." �.�,__
<br /> ��,_-_
<br /> - " �'--
<br /> _ _ (B)The[edex� ,
<br /> ' Beginning with thc first Chsnge Date. my interest rate will be based on an Index.The"Index"is the weekly ----
<br /> � � average yteld on United States Treasury securities adjusted to a constant maturity of 1 year,as made avallable by � �•�J.�
<br /> � the Federal Reserve Board.The most recent Index figure available as of the date 43 deys before each Change Date �=°-�
<br /> :.,:�..
<br /> is called the"Cunent Index." ... , .`
<br /> If the Index is no longer availabte,the Note Holder will choose a new index whtch is based upon comparable
<br /> ' iuformatton.The Note Holder wIll give me notice of this choice. '.. *�—
<br /> . R
<br /> " � • (C)Csilcuts�Uon at Changes ��
<br /> � Before each Change Date,the Note Holder will calculate my new Interest rate by adding �
<br /> ' percentage points ( 2•000 %)to the Current Index.The Note Holder wiU then round
<br /> � . the result of this addition to the s►earest one�eighth of one percentage point(0.125%).Subject to the limits stated
<br /> in Section 4(D) below.this rounded amount will be my new interest rate untll the next Change Date. �
<br /> fhe Note Holder will then determine the amount of the monthly payment that would be sufficient to repay _
<br /> - �� the unpald pdncipa!tfiat I am expected to owe at the Chunge Date in full on the rnaturity date at my new interest ° -
<br /> rate in substanttally equal payments.The result of this ca(culation will be the new amount of my monthly payment. �
<br /> ,� (D)Limits oe Interest Rate Changes ^
<br /> � The interest rate I am required to pay az thc first Change Date wili not be greater than 6. 7 50 °!o or less then
<br /> 4.00 %.Thereafter. my interest rate will never be tncreased or decreased on any single Change Date by •
<br /> more than two percentage points(2.0%)from the rate of intemst I have been paying for the preceding twelve months.My
<br /> interest rate will never be greater than 9. 750 %.
<br /> (E)Eftective Date ot Changes �
<br /> . My new Interest rate wt(1 become effective on each Chanse Date. I will pay the amount of my new monthly ;
<br /> � • payment beglnning on the first monthly payment date after the Change Date until the amount of my monthiy pay- i
<br /> ment changes again. I
<br /> (F)Notice of Changes
<br /> The Note Holder wlil deliver or mai!to me a notice of any changes in my interest rate and the amount of my �
<br /> • monthly payment before the effective date of any change. The notice will include information required by law to .
<br /> . be given me and also the title and tc(cphonc number of a person who will answer any qucstion I may have regard{ng �
<br /> � � the notice.
<br /> B. TRANSFBR O�THE PROPERTY OR A BEN�FICIAL INTERFST IN BORROWER
<br /> •;,, Uniform Covenant 17 of the Security Instrument is amended to read as follows:
<br /> � Trensfer ot the Property o�a Beneticial Interest In Borrower. If all or any part of the Property or any interest
<br /> _ -- — _ _ --=�—:--�
<br /> in it is sold or transterrea(or tt a benefic�at interes[in norrower is soid or cransierred and�sorrower is noi a r�uiuca� •
<br /> ', , '';. .. person)without Lender's prior written conscnt. Lender may,at its optio�,requIre immediate payment in full of
<br /> � all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is
<br /> prohibited by federal law as of the date of this Securtty Instrument. Lender also shall not exercise this option if:
<br /> . : i� (a)Borrower causes to be submitted to Lcuder information required by Lender to evaluate the intended transPeree
<br /> �,. as if a new loan were being made to the transferec: and (b) Lendcr reasonably dctermines thnt Lendcr's security
<br /> : k w{Il nut be impaired by the loan assumption and thut the risk of a breach of any covenant or agreement in thia Securl-
<br /> ty Instrument is acceptable to Lender.
<br /> • To the extent permitted by applicuble law, Lender may charge a reasonuble fee us u conditinn�u Lender's con-
<br /> sent to the loan assumption.Lender rt�ay also require thc transferec to sign an assumption agrcement that is accept-
<br /> �� �� '� able to Lender and that obligates the transferee to kecp all the promises and agrcemcnts madc in the Note and in
<br /> • • th{s Security Instrument. Borrower will continuc to be obligated under the Note and this Security Instrument unless
<br /> , ; Lender releases Borrower In writing.
<br /> �
<br /> � MUITISTAiE ADJUBTABLE RATE RIDER-AAM 8•2-S�ng�o Famny--fsenle Mos�freddb Mee Uniform Imtrument . Fom+3111 3�88 �
<br /> ' �� 8'1Q/�,leps, VMP MORT6AOE fORMS��J17�79]d100��800�57� )19t
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