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<br /> :=T;=:.::.:F— � A��7ST�bE RA7!'E ItIDER ��-y�'..��.-:
<br /> -K ' (1 Year Te�sury Index—ltate Caps) ",�-' ;rt:'�`-_---
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<br /> ;.��:;,`.. . 0020028991 -y
<br /> `� •�� ��'°'-
<br /> :..�>1.;: THI5 ADJUSTABLE RATE R1DER!s made this 11 TH �Y of APR I L .19gq .and is , .%�°���'`''
<br /> � .,,,...., ,-,;. _..,_.-
<br /> .. .a:. .. _ . ..,i___,_... .
<br /> � inoorporated tnto aad shall be deemed to emend and supplemeat the Mortgage�Deed of Trust or�ecurlty Bad(the . �s,-;- -�.:__
<br /> ' � "SccurIty tr�strumec�t")of the same date given by the undersigtted(the"�3nrrov�er")to'secure Borro�ier's Adjustnble ?` ~'� ��
<br /> " �� The Epuitable Buildinp and lotn �asociation of er�nd Islana�Nebreska, A • :° "°', -�-v--°-
<br /> " . Rate Note(the Note )w - ��� —
<br /> ±�,M ;
<br /> - Fede►ol S�tvinga Benk (the"Lender")of the same date and covedng the property descrlbed '�;.�,�,� .-
<br /> ., ia the Securlty Iastrument and lacated at: ^ :`Y ---
<br /> , r'�,�°
<br /> 2413 W JOHN ORAt�O ISLAND, NEBRASKA 88803-8�20 ;, � - -
<br /> (Propasy Addras� ._ _
<br /> y .
<br /> THE NOTE COA1�G'�0�0��58�mGS�OiP�S ALLOWINti FOR Ct9l�C��k��OP�T48E Q�Q9E��'Wl�1fYE , , �
<br /> AND THE lIA�D�'6�88.Y�AYtL'�IEQQI�'.�09�N07E Uf1�QTS�'19�AQb'a�SDQ19T'GFU���WQ����d°� . �
<br /> INTEREST RQATE�G'�E��U�A9►�23�AY 8lNY ONE'�'6P1"!�G"�017�4�8�OINAXUI'l�Dk1�J i�dA4E THE 8�W . �{
<br /> ROWER RA�I�V�/Al�. , ,�
<br /> �:i� •.� . �
<br /> �` `.'��s:;:�k���...
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<br /> ADDITIONAb C�V�AIAN1'S.In additIon to the•:ovenants and agreements rnade in the Security Instrument. • �""�""`
<br /> �,,`�n:;:.:i'" -
<br /> , Borrower and Lenc➢er fcarth�r covenant and ee as fotlows: , `� �_� �r
<br /> .. . �tf. �:,;:..,..�..
<br /> � f`i.,� .'.'=`�`_"—
<br /> �� i�i�xr. . . �'
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<br /> A.IIVTERE�T RA�A1V�h301NTHLY PA�IMENT CYIANGES .�.•...•� ,•
<br /> _s,.�t . 1��,::,
<br /> ,� .. . The Note provides�mr an initial iAtere�t rate of4.7'50 %.The Note provides for changes in the tnt�r�at rate and ihe . ' ,.;,�i��'n';;�C;;;;,
<br /> . , y monthly paymeaess,ns follows: • ' .y'�1<(������;f•'i:-
<br /> . ,.;�.,,f;'�£�:s�
<br /> ' 4.INT�IItESa U3AA,u�11ND MONT�iI.Y PAYMENT CHANCF3 , • ,�;tl.n�:�-��=:
<br /> ,. , . ', , �:_i'��.'�F�".
<br /> , ., Q[�D c�m��IDlases , :;i; ,r.
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<br /> • � 'i't��ire¢er�3 can�I wiU pay may change on the fust day of MAY 19�5 • � . ��� `'
<br /> , .a�1d on that day . .�•�
<br /> " . everg.D?.aP�sa�at&rthereafter.Each date oa which my interest rate could change is called a"Change Date." ° `, '���.
<br /> ., ��. . QB➢�'he Indea = .. ,1`,,�,,:, -
<br /> . ��
<br /> ' �•:n. �zginning with the fust Change Date� my interest rate will be based on an Index.The"Indcx"is the weekly •��'f"`'`�•�
<br /> ,:a:��,s .r�c•�;°::,:
<br /> ` t.,.,.,:.� •,':.�ti•�;,;. ,';
<br /> ' ;rs��t:? average yield on United States Treasury securities adjusted to a constant matarity of 1 year,as made available by , 4r�,��1,�,
<br /> � the Federul Reserve Board.The most recent Index figure available as of the date 45 days before each Change Date ' .
<br /> is called the"Current Index." � �'`"
<br /> ,,' ��
<br /> " .. If the Index is no longer available.the Note Nolder wlll choose a new lndex which is based upon comparable , ��'•';•���` ,
<br /> " inforntation. The Note Holdcr will give me notice of this ch�ice. ,�•�``���
<br /> . ;.��'�,:? ;:
<br /> (G�Caltutatlon of Changes ' . F
<br /> Before each Ghange Date,the Note Holder will calculate my new interest rate by adding �
<br /> , , percentage points( 2.000 °lo) to the Current index. The Note Holder will then round . � . ' ,.JL'
<br /> ,. the result of this addidon to the nearest one-eighth of one percentage point(0.125%).Subject to the limits stated ,,:,,,,��
<br /> �. �� ,%�%`t,< in Section 4(D)below, this rounded amount will be my new interest rate until the next Change Date. � ,_�,
<br /> �'��°'�� The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay •
<br /> `�`Jiii;r' . �.. ..
<br /> . the unpaid principal that I am expected ta owe at the Change Date in fuq on the maturity date at my new interest . � ,,,
<br /> ,. � rate in suhstantially equal payments.The result of this caiculation wili�c che new amount of my monthly payment. • '`��-
<br /> � ' `��`�;�::�.
<br /> ' '��• :�.
<br /> ;,�,;. (D) Limits on Interest Rate Changes :i����`t �
<br /> �c
<br /> ��" The interest rate I am required to pay at the first Change Date wil6 not 6e greater than 6.7 50 °10 or less than �`�'''
<br /> 4.00 %.Thereafter,my interest rate will never be increasec�ar�ecreased on any single Change Date by •.
<br /> • • more than two percentage points(2.0%)from the rate of interest I hav�b�n paying for the preceding twelve months.My { :,. '
<br /> ,:�.,�;,;-_ interest rate will never be greater than 9.750 alo. i �E,.:�.
<br /> �����;:��' (E)EttecBve Date of Cdanges "�"��'
<br /> ' ., My new interest rate will become effective on each Change Date. 1 well pay the amount of my new monthly !
<br /> payment beginning on the�rst monthly payment date after the Change�ate until the amount of my m.mthly pay- ; ,
<br /> ' ment changes again. , �
<br /> (� Notice of Cdanges i
<br /> The Note Holder will deliver or mail to me a notice�e�f r��c�aanges in my int�resf rate and the amount oE my ; ' �
<br /> monthly payment before the effective date of any change.T�e n�+tice wi11 include infformation required by law to ' '
<br /> be given me and also the title and telephone number of a¢Prsom w(aco�+�':answer any question I may have regarding • ' � �
<br /> the nouce.
<br /> ..%';..�,.� B.TRANSFEl2�1F T�iE PROPERTY OR A BEN�1FiCDAQ. Q�'Q'�➢YIEST IN BmIl8�8�lVEYt .
<br /> `��:�"::�'' Uniffmrm Covenant 17 of the�ecurity Instrument is amec�de� to read as follows: • .
<br /> •_
<br /> � Ycaost¢r off the ProperRy ar a BeaeCciat Intec�su aa�ROwer. If all or any pare Qf the Property or any interest , "
<br /> -:,:_: - _ -
<br /> ia it is sold ar tra.�:sfened(or if a beneficial interest tn Borrower is sofd or transfened and Borrower is not a namral
<br /> per�n)witliuut Lender's prior written consent, II.ertder may. at its aption. require immediace payment in full of
<br /> aI]sums sc�cured by this Security Instrument. 6-Iouever,this option shall not be euercised by Lender if exercise is
<br /> . proizibited by federal law as of the date of this Security G nstrument. Lender also shall not exercise this option if:
<br /> " {a)Borrower causes to be submitted to Lender information required by Lender ro e�aluate the intended transferee
<br /> as if a new loan were being made to the transferee; and (b) Lender reasonably determines tha[ Lender's sctiurity
<br /> ' will not be ianpaired by the Ioan assumption and that the risk of a breach of any covenant or agreement in this Securi-
<br /> ty Instrument is acceptable to Lender.
<br /> � • To the extent permitted by applicable law.Lender may charge a reasunable fee as a condition to Lender's con-
<br /> seat to the loan assumption. Lender may also require the transferee co sign an assurnption agreement that is accept-
<br /> •- able to Lender and that obligates the t�ansferee to keep all the promis�and agreements made in the Note and in
<br /> • this Security Instrument.Bonower wiU continue to tse obligated under thc]�tote and this Security Instrument unless
<br /> Lender releases Borrower in writing.
<br /> � htUlT13TATE AD.tUSTA(ilE RATE RiDfR-ARM 6�2-Smg:o Fam,ir-fmuea Mto/Roddio tAae UNtorm Instn�ma+t - - Form 31/1 3•'86 ,
<br /> �V$j''��gppp, YMP MORTGAGE iORMS•�3�3�7Y3 8100•�800�5]� 7�9� �
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