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<br />ADJUSTABLE RATE RIDER
<br />
<br />(I Year Treasury Index-Rale Caps)
<br />
<br />88-102390
<br />
<br />THIS ADJUSTABLE RATE RIDER is made Ihis 11th day of May ,19~.
<br />and is incorporated into and shall be deemed to amend and supplement the Mortgage. Deed of Trust, or Security Deed (the "Security
<br />Instrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Adjustable Rate Note (the "Nole") 10 HOME
<br />FEDERAL SAVINGS & LOAN ASSOCIATION OF GRAND ISLAND. NEBRASKA (the "Lender") of the same date and covering the
<br />property described in the Security Instrument and located at:
<br />
<br />Corner of Bismark and Gunbarrel Road, Grand Island, Nebraska 68801
<br />(Property Address)
<br />
<br />Thb nole eonlalll5 pmvlJlolI5 allowiDII for chanllcs la my /alensl rale aad my mODlhly
<br />paymenls. Tbls note al50 limits Ihe amount my Interest rate caa chaalle a. aay ODe lime and
<br />also Ibe mlnlmum and Ihe m811lmum rale I mul pay,
<br />
<br />ADDITIONAL COVENANTS. In addilion 10 the covenan15 and agreements made in the Security Instrument, Borrower and Lender
<br />further covenant and agrcc as follows:
<br />
<br />A. INn:REST RATE AND MONTlILY PAYMENT CHANGES
<br />The Note provides for an initial interest rale of 9 . 5 "TD. Section 4 of the Note provides for changes in the illlcrest rate and the
<br />monthly payments. as follows:
<br />
<br />4. INTEREST R,oI TE AND MONTU/. r P..! rMENT CHANGES
<br />(A) Chanle Dates
<br />The interest rale I will pay may change on Ihe firSI day of June , 19 ~ . and on lhal day~-.ry
<br />) 2 months Ihere.,fler. Each dale on which my interest rale could change is called a "Change Dale,"
<br />
<br />(BI T~ Indn
<br />a.:ginning wilh lhe firsl Change Dale, m~ mleresl rale will be based on an Index. The "Index" is the ..'ccld}' nerage )'ield on United Slates
<br />Treasury securities adjusted to a con'lant malurity of I year, lIS made available by the Federal Resen'e Board, The most recentlnw figure
<br />available as of the dale -15 day' before each Change Date is called Ihe "Current IndCJI,"
<br />If the Index is no longer avallahle, the NOle Bolder will choose a new index which is based upon comparable infolll1lltion. The NOlo
<br />Holder willgh'. me nOlk. of thi, chllic.
<br />
<br />ICI Caku~lina or OIalll'"
<br />Before each Change Dale. I he NOle Ilohler will calculate my new inlerest rale by adding three pcrcc:nU\f;C
<br />points ( 'Ii n 'rD) 10 lhe Currelll Index and rounding 10 Ih. nearesl I 181h of I~. subject 10 Ihe limits italed in Seroon 41D} belo..."
<br />Thb rounded amoUlII will be ml' new Inleresl rale unlillhe next Change Dale,
<br />The NOle Holder willlhen delernllne Ihe amoum of Ihe momhly pa)1Dentthat would be sufficient 10 ICpa}' in full q]>r pri.'lcipall ;am
<br />",.pccted 10 o..e on thaI Change Dale III .uhstanliall~ equal payments b~ Ih. malurity dale al my new inter-est rale. The result of this calculation
<br />will be Ih. new amllUlll of illY mUlllhly 1''')101<111.
<br />
<br />(D) UJDi15 on Interest Hale OIanln
<br />The illlere,t rale I am required to pal' iii Ihe lint Change Ilate will nOI be ,~ter lhan ~~ '.... or Yess than
<br />A_n ...,~~~~~~U~~~W~~~~li~ XXXXXXXXXXX
<br />
<br />X XXX)(X)(XX)(fXt)tj(l6E:tl(l(tl(D(~)(l\~IH~~~~II~~, The minimum inler~1 rate on Ibis loan ..lllne\'er be
<br />less Ihan 8.0 "T. and Ihe maximum illleresl rate will never be glealer than 14.5 mo.
<br />
<br />n:1 Etreelin Dale of Cblnl""
<br />My new imere" rale will bee"me effeeth'e on each Change Ilale. I will pay Ihe amoum of m)' ncw' monrhl)' pa~menl be&inning on lhe fiN>1
<br />mOlllhly payment dale after Ihe Change Dale unlillhe amoulll of my mOlllhly palmeDI changes again,
<br />
<br />(t") Noll", of Chlnx...
<br />The Note Holder will mail or deli'er to me a nOlice before each Change Dale, The noti~ will ad".... me of:
<br />Ii) Ih. new imere" rale on my loan /lli of the Change Dale;
<br />(Ii) Ihe nmoum of my momhly payment following lhe Change Date;
<br />(iii) any additional mailers which Ihe Note Bolder is required to disclose; and
<br />(i,,) Ihe addr"" of the associalion you could contacl regarding any questions aboUlthe adjustment nonce.
<br />
<br />B, CIlARm:o;: l.It:NS
<br />Uniform CO\'enant 4 of lhe Securil} Inslrumenl is amended '" read as follows:
<br />
<br />4. Cllaran; Ufns, Ilorrower ,hall pay all taxes, ","e..melllS, and olher charges, lines, and imposilions attributable 10 Ihe Property' ..-hkh may
<br />attain a priorily o'er Ihis SecurilY I nslrumenl , and leasehold payments of ground rents, if any. in the manner prmided under paragraph ~ hereof
<br />or. if nOI paid in liuch manner. hy Ilorrower making payment, when due, direclly 10 Ihe payee thereof. Borrower shall prompll}' furnish lender
<br />allnolice. of amoullls due under this paragraph. anll in the .venl Borrower shall make payment directly, Borrower shall promptly furnish 10
<br />Lender receipts evidencing such paymellls. Borrower shall promptly discharge any lien which has priority os'er Ihis Seeuril)' Insnumelll;
<br />however, Borrower shall nol be required ro disch~rge any such lien so long as Borrower: (a) shall ag= in wriring 10 .he paymem of the
<br />obligalion secured by such lien in Ihe manner acceplable 10 Lender; lhl shall in good failh contest such lien bl', 01 defend agaimt cnforl."ment or
<br />such lien in, legal proceedings which in the opinion of Lender operate 10 prevenl the enforcemem of the lien or forfeilure of the Prorcrl}' ," any
<br />parI lhereof; or (c) ,hall 5ecure fwm the holder of ,uch lien an agreemem in a form satisfactory 10 Lender subordinating such lien .0 this
<br />Sccurily Instrument.
<br />If Lender del ermines .hat all or an~ part of the Properly i. sllbjcc: '0 a lien which may altain Il prioril}' over Ihis SecurilY InslrumcnI,
<br />Lender shall give 1I0rrower a nOlice idclllifylng such lien, 1I0rrower shall satisfy such lien or lake one or more of Ihe aClion, set fonh abovc
<br />withinlen day. of Ihe gi,ingof the nolice.
<br />
<br />C. NO'net;
<br />Uniform Cmenanl 14 of Ihe Securily Instrumelll" amended to read a, follows:
<br />
<br />14. Nolle... E~ce"t ror an)! nolicc Tequlft:d under apl'Jlh:uble hlw 10 bt giv(,11 in another manner, (0) nny J10tke lollnrtll\\'Cr l'IflWidN for In tlH~
<br />SeCurIC)' In.r.lrurncnl !Lhall be f,i\'cn hy dcli\'crinl: it or by nudllng it hy rtr\t elM!! nutil to norro~'er DIllte PrnpC'"rty Addre.,!>. OT 31 \lIeh other ,Hldl""'"
<br />~u lkJ(fowcr may de\ignntc by ttntict~ '0 t'.mdcr n50 pruvided herein, and (b) any nOIJcc to Lender "hall h(" ~1\CIl hy tln,1 da" mail h'l l endel '..
<br />luldrt'\l4 '1"'((.) hddn nr to tiut:'h ulhef /ll.hJr~~l! e.~ l.i'i"I,1rr may d~jgnatt hy notk'C 10 rtorrowcr Il~ prOVided lll'rcl11 .\n\- nl)lh::T I'f(l\'ldru lor 111 Ihl'
<br />SeolJlt)' In....rurueru "hall be dremed to ha'oe been ~1\'Clllu Uonowcr or l.rndcf wllc:n Ai\'cu 10 Ih(' manner J(,"~l1all'\t hl"r~1I1
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