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200206960 <br />Loan No.: OMA0004WEIN <br />ADJUSTABLE RATE RIDER <br />(LIBOR 6 -Month Index - Rate Caps) <br />THIS ADJUSTABLE RATE RIDER is made this 28th day of June, 2002 , <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 (the "Borrower) to <br />secure Borrower's Adjustable Rate Note (the "Note ") to BNC MORTGAGE, INC., A DELAWARE <br />CORPORATION (the "Lender ") of the same date and covering the property described in the <br />Security Instrument and located at: <br />405 EAST 14TH 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 THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME <br />AND THE MAXIMUM RATE THE BORROWER MUST PAY. <br />ADDITIONAL COVENANTS. hr addition to the covenants and agreements made in the <br />Security Instrument, Borrower and Lender further covenant and agree as follows: <br />INTEREST RATE AND MONTHLY PAYMENT CHANGES <br />The Note provides for an initial interest rate of 10.500 %. The Note provides for changes in <br />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 July, 2004 and on that <br />day every 6th month thereafter. Each date on which my interest rate could change is called a <br />"Change Date." <br />(B) The Index <br />Beginning with the first Change Date, my interest rate will be based on an Index. The "Index" is <br />the average of interbank offered rates for 6 -month U.S. dollar- denominated deposits in the London market <br />based on quotations'of major banks, as published in the "Money Rates" section of The Wall Street Journal. <br />The most recent Index figure available as of the date 45 days before each Change Date is called the <br />"Current Index." <br />If the Index is no longer available, the Note Holder will choose a new index which is based upon <br />comparable information. The Note Holder will give me notice of this choice. <br />ADJUSTABLE RATE RIDER -LIBOR 6 MONTH INDEX - Single Family- Rev. 10/95 <br />Page l of 2 <br />Borrower Initials (xj"L✓. <br />NGADIM <br />