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OCT -13 -2004 10:06 FARM CRED SERV AMER 402 348 3520 P.10 200410043 27. INTEREST Interest will be charged on unpaid principal until the full amount of Principal has been paid. Interest will accrue at the initial interest rate of s. 950 %. The initial interest rate will be fixed at the Fixed Interest Rate of 5.950 percent per annum effective October 13, 2004 and remaining in effect untiloctober o1, 2009 ( "Fixed Interest Rate Period "), unless earlier terminated as provided below. Note Holder may terminate the Fixed Interest Rate prior to the expiration of the Fixed Interest Rate Period, Without any further notice to me upon the happening of either of these events: - I fail to comply with any covenant, condition, or agreement contained in the Note, Security Instrument, or any other document executed at any time in conjunction with any loan from Note Holder, or - Note Holder brings any action against me to collect any loan from Note Holder. At the end of the Fixed interest Rate Period, the interest rate will be variable until maturity and the interest rate I pay will change in accordance with Section 4 of the Note. Interest will be calculated on a basis. 28. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A)Change Dates, (B) The Index, (C) Calculation of Changes, and (E) Effective Date of Changes At the end of the Fixed Rate Period in Section 2 of the Note, the interest rate will be variable until maturity. A higher or lower interest rate may be established under the Individual Loan Pricing Classification (1LPC) Index for which the loan from time to time qualifies; this higher or lower rate will thereupon apply to the outstanding principal balance of the debt evidenced by the Note and will remain in effect until a different interest rate is established. The amount of each subsequent payment will increase or decrease accordingly, or at the discretion of the Note Holder a higher payment amount will be due at maturity, to reflect the different interest rate without in any manner changing the due date of the payments. Note Holder may have up to 15 days from any ILPC Index change to change the interest rate. No limitation exists on the frequency or the amount of the change in the Interest rate. (D) Limits on Interest Rate Changes: The interest rate on my loan will never be greater than 18.00 percentage points above the initial rate of 4.350 percent per annum, which is called the "Maximum Rate." Therefore, the Maximum Rate will not exceed 22.350 percent per annum. (F) Notice of Changes The Note Holder will deliver or mail to me a notice of any changes in my adjustable interest rate and the amount of my monthly payment no later than 10 days after the effective date of a change in the interest rate. However, if the interest rate is directly tied to an external index that is widely publicized, the notice of change will be made promptly but not later than 30 days after the change in interest rate. This notice will Include information required by law to be given to me, and also the location of the office that can answer the right to notification of any variable orgadjustable ate change to which I Interest Rate be entttitled aNe 29. BORROWER'S FAILURE TO PAY AS REQUIRED (A) Late Charge for Overdue Payments If the Note Holder has not received the full amount of any monthly payment by the end of 15, 30, 45 and 60 calendar days after the date it is due, i will pay a late charge to the Note Holder. The amount of each of these late charges will not exceed .50% of my overdue payment of principal and interest. I will be charged this late payment once for each 15-day period that 1 am late to a maximum of 4 late payments. S o 15, will go into not been ate paid hanges 60th sec ion will ceas default interest, as stated 5S