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200309026 LOAN #t 03- 546919 ADJUSTABLE RATE RIDER (LIBOR Index - Rate Caps) THIS ADJUSTABLE RATE RIDER is made this 23RD day of JUNE, 2003 and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt (the "Security Instrument ") of the same date given by the undersigned (the "Borrower ") to secure the Borrower's Note to EMMco, LLC., A LIMITED LIABILITY CORPORATION (the "Lender ") of the same date and covering the property described in the Security Instrument and located at: 515 N KIMBALL ST, GRAND ISLAND, WE 68801. THE 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: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of 8.750 %. The Note provides for changes in the interest rate and the monthly payments, as follows: 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The interest rate I will pay may change on the 1sT day of JULY, 2005 and on that day every sixth 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 average of interbank offered rates for six -month U.S. dollar- denominated deposits intheLondon market ( "LIBOR "), as published inThe Wall StreetJournal. The most recent Index figure available as of the first business day of the month immediately preceding the month in which the Change Date occurs is called the "Current Index." If the Index is no longer available, the Note Holder will choose a new index that is based upon comparable information. The Note Holderwill 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 six AND THREE- FOURTHS percentage point(s) ( 6.750% ) to the Current Index. The Note Holder will then round the result of this addition up to the nearest one - eighth of one percentage point (0.125 %). Subject to the limits stated in Section 4(D) below, this rounded amount will be my new interest rate until the next Change Dale. initialst MULTISTATE ADJUSTABLE RATE RIDER (LIBOR Index)--Single Family -- Freddie Mac UNIFORM INSTRUME Form 31921/01 Modified for Novastar 01999 -2003 Online Documents, Inc. Page 1 of 3 NS192RDU 0303 06 -23 -2003 1009