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I" 88- 101910 ADJUSTABLE RATE RIDER - (I Year Treasury Indell-Rale Caps) 15 April 88 THIS ADJUSTABLE RATE RIDER is made Ihis _ day of . 19 ~~. and is incorporaled into and shall be deemed 10 amend and supplement Ihe Mortgage, Deed of TruSl, or Securily Deed (Ihe "Securily Irlstrumcnt") of Ihe same dale given by the undersigned (the "Borrower") 10 secure Borrower's Adjuslable Rate Nole (Ihe "Note") to HOME FEDERAL SAVINGS & LOAN ASSOCIATION OF GRAND ISLAND, NEBRASKA (the "Lender") of the same dale and covering the properly describec\ in the Sccurily Instrumenl and localed al: 2517 Brahma, Grand Island. NE (property Address) This nOle contains provisions I!lIowlng for changes in my Inlerest rate and my monthly payments. This nole also limits Ihe amount my Interest rate clln change al anyone lime and also the minImum amllhe ma:dmum rale I must pay. 68801 ADDITIONAL COVENANTS. In addilion to Ihe covenants and agreements made in the Security Instrumem, Borrower and Lender furlher coven ani and agree as follows: A, INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial ~nteresl rate of 9.5 OJD. Seelion 4 of Ihe Note provides for changes in Ihe interest rate and Ihe momhly paymenls, as follows: 4, INTEREST RA TE AND MONTHL Y PA YMENT CHANGES (A) Change Dates The interesl rate I will pay may change on the firsl day of May , 19 89 _, and on thai day every twel \Ie months Ihereafter. Each date on which my intercsl rate could change is called a "Change Date." (B) The Index Beginning with the firsl Change Date, my interest rate will be based on an Index. The "Index" is the weekly average yield en United 3lales Treasury securilies adjusled to a constant maturity of I year, as made available by the Federal Reserve Board. The most recent Index figure available as of the date 45 days before each Change Date is called the' 'Current Index." If the Index is no longer available, the Note Holder will choose a new index which is based upon comparable information, The NOle Holder will give me nOliee of Ihis choice. (C) Calcullltlon of ChllDges Before each Change Date, the Note Holder will calculate my new interest rate by adding two & one/half percentage points ( 2.5 OlD) to !he Current Index and rounding to the nearest J/8th of I OJD, subjeclto the limits ~tated in Section 4(0) below, This rounded amount will be my new interest rate until the next Change Date. The NOll' Holder will then delermine the amount of the monthly payment thai would be sufficiem to repay in full the principal I am expected to owe on that Change Dale in subslantially equal payments by the maturity date at my new interest rate. The result of Ihis calculation will be the new amount of my monthly payment. (0) Limits on Interesl Rate Changes The interest rale I am required to pay at the first Change Date will not be greater than 1 4 . 5 1110 or less Ihan 7.5 llJD. Thereafter, my intereSI rate will never be increased or decreased on any single Change Date by more t::an two percent (2%) from Ihe rate of interest I have been paying for the preceding twelve months. The minimum inlerest rate on this loan will never be less than 7.5 070 and Ihe maximum interesl rate will never be greater than 1'1 5 OlD, (E) Errectln Date of Cbanges My new interest raIl' will become effective on each Change Date. I will pay Ihe amount of my new monthly paymenl beginning on the first monlhly payment date after the Change Dale until the amount of my monthly payment changes again. (F) Noti~ of Changes The Note Holder will mail or deliver 10 me a notice before each Change Date, The notice will advise me of: (i) the new interest rale on m}' loan as of the Change Date; (ii) the amount of my momhly payment following the Change Dale; (Iii) any additional matters which the NOll' Holder is required to disclose; and (iv) the address of the association you could contact regarding any questions about the adjuslmenl notice, B. CHARGES; LIENS Uniform Covenanl4 ofthe Securit}, Inslrument is amended to read as follows: 4. Cbal'Je8; liens. Borrower shall pay a1llaxes, assessments, and other charges, fines, and impositions allribulable to the Property which may attain a priority over Ihis Security Instrument, and leasehold payments of ground rents, if any, in the manner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the payee thereof, Borrower shall promptly furnish Lender all notices of amounts due under this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly furn'ish 10 Lender receipts evidencing such paymelll~. Borrower shall promptly discharge any lien which has priority over Ihis SecurilY Instrumelll; however. Borrower shall not be required to discharge any such lien so long as Borrower: (a) shall agree in writing to Ihe payment of the obligation secured by such lien in the manner acceptable to Lender; (b) shall in good faith contesl such lien by, or defend against enforcement of such lien in. legal proceedings which in the opinion of Lender operate to prevent the enforcement of the lien or forfeilure of the Property or any pari thereof; or (e) shall secure from the holder of such lien an agreement in a form satisfactory to Lender subordinaling such lien to Ihis Security Instrument. If Lender delermines that all or any pari of Ihe Property is subject to a lien which may allain a priority over this Securily Instrument, Lender shall give Borrower a nOlice identifying such lien. Borrower shall satisfy such lien or take one or more of the aclions S~I forth above within ten days of the giving of the nolice. c, NOnCE U~liform Covenant 14 of the Security Instrument is amended 10 rl"ad as follows: 14. Notkr. Except for any notice required under applicable law 10 be gh'en in another manner, (a) any notice to Borrower provided for in this Securily InSlrllment shall be sh'en by delivering it or by mailing it by first class mail 10 Borrower allhe Properly Address or al such other address Il5 Borrower may desigmlle by notice 10 Lender as provided herein, and (b) any notice to Lender shall be gin'n by first class mail 10 lender's address slated herein or 10 such OIher address as Lender ma}' designate by notice to Borrower as provided herein, Any nOlin' prm.idt'd for in 11m Securily Instrument shall be deemed 10 have been given to Borrower or Lender when given in lhe manner designatl'd hert"in.