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<br />200606720 <br /> <br />MIN: 100224640000617838 <br /> <br />Loan Number: 490028311 <br /> <br />ADJUSTABLE RATE RIDER <br />(lIBOR Six-Month Index (As Published In The Wall Street Journa~ <br />~ Rate Caps) <br /> <br />THIS ADJUSTABLE RATE RIDER is made this 21st day of JULY, 2006 , <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 givcn by the undersigned ("Borrower") to secure <br />Borrower's Adjustable Rate Note (the "Note") to OWNIT MORTGAGE SOLUTIONS, INC., <br />A CALIFORNIA CORPORATION <br />("Lender") of the same date and covering the property described in the Security Instrument and located at; <br /> <br />2808 W NORTH FRONT ST, GRAND ISLAND, NEBRASKA 68803 <br /> <br />[property Address) <br /> <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 AND <br />THE MAXIMUM RATE BORROWER MUST PAY. <br /> <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 /> <br />A. INTEREST RATE AND MONTHLY PAYMENT CHANGES <br />The Note provides for an initial interest rate of 10.250 %. The Note provides for changes <br />in the interest rate and the monthly payments, as follows: <br /> <br />4. INTEREST RATE AND MONTHLY PAYMENT CHANGES <br />(A) Change Dates <br />The interest rale I will pay may change on thc 1 s t day of AU GUS T, 2 0 0 8 <br />and on that day every 6 t h month thereafter. Each date on which my interest rate could change is called <br />a "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 the <br />average of interbank offered rates for six month U.S. dollar-denominated deposits in the London market <br />("LIBOR"), as published in The Wall Street Journal. The most recent Index figure available as of the first <br />business day of the month immediately preceding the month in which the Change Date occurs is called the <br />"Current Index. " <br />If the Index is no longer available, the Notc Holder will choose a new index that is based upon <br />comparable information. The Note Holder will give me notice of this choice. <br /> <br />MUL TISTATE ADJUSTABLE RATE RIDERnLlBOR SIX-MONTH INDEX <br />(AS PUBLISHED IN THE WALL STREET JOURNAL) <br />Single Family--Fannie Mae MODIFIED INSTRUMENT <br />Form 3138 1/01 Page 1 of 3 <br /> <br /> <br />~i3 <br /> <br />'" <br /> <br />Us3138.rld <br />