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ADJUSTABLE RATE RIDER 88- l' 0 ~ ~~:... " (I Vear TIftIlIr)' ._11- Rale Ca,-I .... ..,.., · THIS ADJUSTABLE RATE RIDER is made this ....:l.t.n.. day of ..........l:!~y.............................. IH.B...... and is incorporated into and shall be deemed to amend and lupplement the Mortgale. Deed of TrUll or Security Deed (the .Sccurity Instrument") of the same date given by the undenigned (the -Borrower") to secure Borrower's Adjustable Rate Note (the "Note") \0......... .No.r:wes.t:..l\aok.Ji.ebr.ask.a...Nati.c;m.a.l..Aaso.ciat.ioX\.......... ...... ..................... .............................................................................. (the -Lender") of the same date and covering the property described in the Security Instrument and located at: . .\h:- .........25.DB...Rl.ue.r.s;i.d.6..D.r.i.v.e...GI:alJd...Lsla.nd.....N.ebr.aska..tia8Dl.................................................................... (ProperlY Addr...) THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE UMITS THE AMCU~T TItE BORAuWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MA,..~~J[Il,4 MoTE THE B0R- ROWER MUST PAY. ADDITIONAL COVENANTS. In addition to the coyenants and agreements made in the Security I"strument, Borrower and Lender fumer covenant and agree as follows: A. INTEREST RATE AND MONTH LV PAVMENT CHANGES The Note provides for an initial interest rate of ...1..50......%. The Note provides for changes in the interest rate and the monthly payments, as follows: ... INTEREST RATE AND MONTHU' PAVMENT CHANGES ( A 1 CIIup Dales The interest rate I will pay may change on the first day of ..............J.uly........................ 19..8!l..., and on that day every 12th month thereafter. Each date on which my interest rate could change is called a "Change Date." I B) ne IIIIIn Besinnins with the first Chanse Date. my interest rate will be based on an Index. The "Index" is the weekly average yield on United States Treasury securities adjusted to a constant maturity of I year. as made available by the Federal Reserve Board. The most recent Indell figure available as of the date 4S days before each Chanse Date is called the "Current Index..... If the Index is no lonser available. the NOle Holcler will choose a new index which is based upon comparable information. The Note Holder will give me notice of this choice. (C 1 Calctdalloa or CIwIIft Before each Change Date, the Note Holder will calculate my new interest rate by adding .....~.I?..~.m!...9.P.-!lL... .........hall................. percentase points 1...2..~.Q......%) to the Current Indell. The Note Holder will then round the result of this addition to the nearest one.eishth of one percentage point (0.125%1. Subject to the limits stated in Scction 4(0) below. this rounded amount will be my new interest rate until the next Change Date. The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that I am ellpccted to owe at the Change Date in full on the maturity date at my new interest rate in substantially equal payments. The result of this calculation will be the new amount of my momhly payment. I D I u.ias OIl 1.lerCIt R.le Chaqcs The interes! rate I am required to pay at the first Change Date will not be greater than ....9....;;.Q..............~ or less than ..........s..5.ll........'J.. Thereafter. my intere~t rate will never be increased or decreased on any ~ingle Change Date by more than two percentage points (2.~1 from the rate or interest I have ~n paying for the preceding twelve montM. My interest rate will never be srcater than .....U....5.<l.....%. I E I Eft'ectite Dale 01 ClaaJllft My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment beainnina on the first monthly payment date after the Change Date until the amount of my monthly payment chanses apin. I F) Notice 01 CJwaaes The Note Holder will deliver or mail to me a notice of any changes in my interest rate and the amount or my monthly payment before the effective date of any change. The notice will include information required by law 10 be given me and also the title and telephone number of a person who will answer any question I may have regarding the notice. D. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTERfST IN BORROWER Uniform Covenant 17 of the Security Instrument is amended to read as follows: Truarer or 1M ProperIJ or. ..klall.terestl. Borrowcr. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person I without lender's prior wrillen consent, Lender may, at its option. require immediate payment in full of all sums secured by this Scc:urity Instrument, Howenr. this option shall not be Cllercised by lender if exercise is prohibited by federal law as of 1!Ie date of this Security Instrument. lender also shall not ellercise this option if: (a 1 Borrower causes to be submilled to Lender information required by Lender to evaluate the intended tran~feree as if it new loan were being made to thetr.Mferee: and Ib) Lender reasonably determine~ that lender's security will not be impaired by the loan usumplion and that the risk o( a breach of any covenant or agreement in thi~ Security Instrument is acceptable to lender. ..The Index Oaure available as of the date Ihe inilial inlere~t rate was determincd for lhb loan wa, ....(l.,:U........ 0"0. ...tlITATl ADJIISTAIU RATE R1O(A-.lRM S.2-S"'~1<l F..mov-FaMIe 11M. f,eddle Mac UnIform Inllru......t Fonn J I II J 8~ NC 'Z1fIJ LJlO (Hr 44GW1