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240410730 <br />ADJUSTABLE RATE RIDER 9601131478 <br />(LIBOR Six -Month Index (As Published In The Wall Street Journal) - Rate Caps) <br />THIS ADJUSTABLE RATE RIDER is made this 27th day of October 2004 <br />and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or <br />Security Deed (the "Security Instrument ") of the same date given by the undersigned ( "Borrower ") to <br />secure Borrower's Adjustable Rate Note (the "Note ") to <br />MICHIGAN FIDELITY ACCEPTANCE CORP dba FRANKLIN DIRECT <br />( "Lender") of the same date and covering the property described in the Security Instrument and <br />located at: <br />1204 W. 10TH ST, GRAND ISLAND, NE 68801 <br />[Property Address] <br />THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE <br />INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE <br />AMOUNT BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME <br />AND THE MAXIMUM RATE BORROWER MUST PAY. <br />ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security <br />Instrument, Borrower and Lender further covenant and agree as follows: <br />A. INTEREST RATE AND MONTHLY PAYMENT CHANGES <br />The Note provides for an initial interest rate of 7. 650 %. The Note provides for <br />changes in the interest rate and the monthly payments, as follows: <br />4. INTEREST RATE AND MONTHLY PAYMENT CHANGES <br />(A) Change Dates <br />The interest rate I will pay may change on the first day of November 2006 <br />and on that day every 6th month thereafter. Each date on which my interest rate could change <br />is called a "Change Date." <br />MULTISTATE ADJUSTABLE RATE RIDER -LIBOR SIX -MONTH INDEX (AS PUBLISHED IN THE WALL STREET <br />JOURNAL) - Single Family - Fannie Mae Uniform Instrument <br />Ct 838R (0006) Form 3138 1/01 <br />Page 1 of 4 Initials:S(.'k <br />VMP MORTGAGE FORMS - (800)521 -7291 <br />