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ADJUSTABLE RATE RIDER 200303107 THIS ADJUSTABLE RATE RIDER is made this 6th ._ day of March . 2003 and is incorporated into and shell be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the 'Security Instrument ") of the same date given by the undersigned (the "Borrower ") to secure Borrower's Adjustable Rate Note (the "Note ") to Lincoln Federal Sa inas Bank of Nebraska (the "Lender ") of the same date and covering the properly described in the Security Instrument and located at: 224 Kaufman Ave., Grand Island Nebraska 68803 [P,opem address] THIS NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE THE BORROWER MUST PAY. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The interest rate I will pay may change on the first day of March 2008 , and on that day every 12th month thereafter. Each date on which my interest rate could change is called a "Change Date ". (B) The Index Beginning with the first Change Date, my interest rate will be based on an Index. The "Index" is the final average contract interest rate on conventional loans closed, for purchasing previously occupied homes, by all major lenders for that month, as made available by the Federal Housing Finance Board. The most recent Index figure available as of the date 45 days before each Change Date is called the "Current Index". It the Index Is no longer available, the Note Holder will choose a new index which is based upon comparable information. The Note Holder will give me notice of this choice. (C) Calculation of Changes Before each Change Date, the Note Holder will calculate my new interest rate by adding One and 500/1000 percentage points ( 1.500 %) to the Current Index. Subject to the limits stated in Section 4(D) below, this amount will be my new interest rate until the next Change Date. The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that I am expected to owe at the Change Date In full on the maturity date at my new interest rate in substantially equal payments. The result of this calculation will be the new amount of my monthly payment. (D) Limits on Interest Rate Changes The Interest rate I am required to pay at the first Change Date will be no less than the current index but no more than 2.000 % points more than the current index rate. Thereafter my interest rate will never be Increased or decreased an any single Change Date by more than Two and 000 11000 percent 12.000 %) from the rate of Interest I have been paying for life preceding twelve months. My Interest rate will never be greater than 13.500 %. Floor 6.500& %. (E) Effective Date of Changes My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again. (F) Notice of Changes The Note Holder will deliver or mail to me a notice of any changes In my Interest rate and the amount of my monthly payment before the effective date of any change. The notice will include information required by law to be given me and also the tide and telephone number of a person who will answer any question I may have regarding the notice. B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER Uniform Covenant 17 of the Security Instrument is amended to read as follows: Transfer of the Property or a Beneficial Interest in Borrower. if all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument . However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. Lender also shall not exercise this option L (a) Borrower causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made to the transferee; and (b) Lender reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of a breach of any covenant or agreement in this Security Instrument is acceptable to Lender. F4813.LM0 (12/90) 92959 Page t of 2