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<br />Burlington Employees Credit Union 3993004
<br />301 North 52nd Street; P.O. Box 5248 ADJUSTABLE RATE RIDER MEMBER #
<br />Lincoln, Nebraskp, 68505-0248 (I Year T-lIIOrV I_x-Rate Ca..) 12
<br />EID #47-0116167 .-J NOTE #
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<br />THIS ADJUSTABLE RATE RIDER is made this .~9.!:.~.. day of ..p.~~.~E.1p.~r......................., 19 ..~.7..., and is
<br />incorporated into and shall be deemed 10 amend and supplement the Mortgage, Deed of Trust or Security Deed (the
<br />"Security Instrument") of the same date given b~ the undersi~ned (the "Borrower"* to secure Borrower's Adjustable
<br />Rate Note (the "Note") to ...,.....,~~.r.~j~gt9.~....,m.P.Jgy.~~w.....r~~Et.V.~jg.~1..?9.t.... ,9.r.t~..~~~~".~tr.~J,.,Jrl~~~O,~~I..
<br />.N~>>J1J.~.~ft.J}.~R1)g~~~I..t;J]}...~:1J:9AX~1.fil..... (the "Lender") of the same date and covering the property dt ", . .-r J in
<br />the Security Inslrument and located at:
<br />
<br />..,'~~.~....,~~!:.~,~.~E, ,~..., ,.p.~.~.~p.~~~.!... ,!~~,~E.?:.l?~,~,.. ,..., .~.??},?..,...., ,.....,.,....", ,...,..." .,............" ,.., ......." ,....,........
<br />
<br />(Properly Address)
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<br />THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE
<br />AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE AMOUNT THE BORROWER'S
<br />INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE THE BOR-
<br />ROWER MUST PAY.
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<br />ADDITIONAL COVENANTS. In addilion 10 Ihe covenants and agree men Is made in the Security Instrument, Borrower
<br />and Lender further covenant and agree as follows:
<br />A. INTEREST RATE AND MONTHLY PAYMENT CHANGES
<br />The Note provides for an initial interesl rale of .10...0,0.0.%. The Note provides for changes in Iheinterest rate and the
<br />monthly payments. as follows:
<br />4. INTEREST RATE AND MONTHLY PAYMENT CHANGES
<br />(A) Change DIltes
<br />The interest rate I will pay may change on Ihe firsl day of ............I?~~.~E.1.1?~r............... 19,~,~..,. and on that day
<br />every 12th monlh thereafter. Each date on which my inleresl rale could change is called a "Change Date."
<br />( B) The Index
<br />Beginning with the first Change Date. my inlerest rate will be based on an Index. The "Index" is the weekly
<br />average yield on United States Treasury securities adjusled 10 a conslanl maturity of 1 year. as made available by the
<br />Federal Reserve Board. The mosl recent Index figure available as of Ihe date 45 days before each Change Date is called
<br />the "Current Index." '
<br />If the Index is no longer available. Ihe Note Holder will choose a new index which is based upon comparable
<br />information. The Note Holder will give me nolice of this choice.
<br />(C) Calctdation of Changes
<br />Qd'K~Mch Change Date. Ihe Nole Holder will calculate my new interest rale by adding ...TIm...AN..O...IHREE
<br />.................................... percentage points (.....?:.l?....%) 10 the Current Index. The Nole Holder willlhen round the
<br />result ofthis addition to the nearest one-eighth of one percentage point (0.125%). Subject to the limits stated in Section
<br />4(D) below, this rounded amount will be my new interest rate untillhe next Change Date.
<br />The Note Holder will then determine Ihe amount of the monthly payment Ihat would be sufficient to repay the
<br />unpaid principal that I am expected to owe at the Change Date in full on the maturity date at my new interest rate in
<br />substantially equal payments, The result of this calculation will be the new amount of my monthly payment.
<br />(D) U.its on Interest Rate Changes
<br />The interest rate I am required 10 pay al the :1rst Change Date will nol be greaterlhan .J:?.:.Q.Q.Q.........% or less than
<br />..JL.9.QQ..........%. Thereafter. my interest rate will never be increased or decreased on any single Change Date by more
<br />than two percentage points (2.0%) from Ihe rate of interesll have been paying for the preceding lwelve monlhs, My
<br />interest rate will never be greater than ...1.6...0,0.0..%.
<br />(E) EfI'ectbe DIlte of CIIuges
<br />My new interest rate will become effective on each Change Date. I will pay the amounl of my new monlhly payment
<br />beginning on the first monthly paymenl dale afler the Change Date unlillhe amounl of my monlhly paymenl changes
<br />apin.
<br />(F) Notice of Changes
<br />The Note Holder will deliver or mail 10 me a notice of any changes in my inlerest rale and the amount of my monthly
<br />payment before the effective date of any change. The notice will include information required by law to be given me and
<br />allo the title and telephone number of a person. who will answer any question I may have regarding Ihe notice,
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<br />By SIGNtNG BELOW, Borrower accepts and agrees to the terms and covenants contained in this Adjustable Rate
<br />Rider.
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<br />..,..,...,....,. ,., ,...................,........, ,..,........,...... ,....,..,....." ,... (Seal)
<br />Charles E. Luke .Borrower
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<br />... ...a...l.I..La:.t...c-........,;L..... U' .........:............,.... (Seal)
<br />Pamala A. Luke . Borrower
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<br />OECU.REV 10/67
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