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88- 103607 ADJUSTABLE RATE RIDER (I Year Treasury Index-Rale Caps) THIS ADJUSTABLE RATE RIDER is made Ihis .?~~~... day of ...........:!.~~.~....................:...... 19 ~~...... and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of TrUSI or Security Deed (the ~Secu~ Instruli11:nt") of the same date given by the undersigned (the ~Borrower") to secure Borrower's Adjustable Rate Note (the ~Note") to......Ngh.W~J!?J:...>>.~nk..!'!...i\P.];.~.~!5.~>..J:{~!;J.9.n~l...hR.~P..~.},!!.t;J.p.].).......................................... ..................................................................,........... (the ~Lender") of the same date and covering the property described in the Security Instrument and located at: Rt. 2, Box 314A, Grand Island, Nebraska 68801 ........................................................,...........................i.p~~p.;;;;:.;.;dd.;~~.i................................................................................... THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE THE BOR- ROWER MUST PAY. ADDITIONAL COVENANTS. In addition 10 the covenants and agreements made in the Securily InsHument, Borrower and Lender further covenanl and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interesl rale of ,?.,.9.Q........%. The Note provides for changes in Ihe interest rate and the monthly payments, as follows: 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Detes The intereSl rate I will pay may change on the first day of ...........~.1;!g!,l.fi\!;...................... 19..~.~.... and on that day every 12th month thereafler. Each date on which my interest rale could change is called a .Change Dale." (0) The Index Beginning wilh the first Change Dale, my interesl rate will be based on an Index. The "Index" is the weekly average yield on Uniled States Treasury seCurilies adjusled to a constanl maturily of 1 year, as made available by the Federal Reserve Board. The most recenllndex figure available as of the dale 45 days before each Change Date is called the "Current Index. .... If the Index is no longer available, the NOle Holder will choose a new index which is based upon comparable informalion. The Note Holder will give me notice of Ihis choice. IC) Calculation of Changes Before each Change Date. Ihe Note Holder will calculate my new interest rate by adding ...r.w!?__~.l).t;lmQ.mL...__. ...lln.U........................ percentage points (...~.,.a!L...%) to the Current Index. The Note Holder will then round the result of this addition 10 Ihe nearesl one-eighth of one percentage point (0.125%). Subjecllo the limits stated in Section 4(0) below. this rounded amount will be my neW inleresl rale unlilthe next Change Date. The Note Holder will then determine the amounl of the monthly paymenl Ihat would be sufficient to repay the unpaid principal thai I am expected to owe althe Change Date in full on the maturity dale al my new interest rate in subslantially equal payments. The result of this calculation will be the new amount of my monthly payment. ( D) Umill on Interest Rllte Chllnges The inleresl rate I am required to pay althe first Change Date will not be greater than .J.Q.,.Q.Q..............% or less than a ...6A.QO...............%. Thereafter. my inleresl rate will never be increased or decreased on any single Change Date by more than tWO percentage points (2.0%) from the rale of interest I have been paying for the preceding twelve months. My inleresl rllte will never be greater than ..J..3...RlL.....%. ( E) Elreet"e Dale or Chllnges My new interest rate will become effective on each Change Date. I will pay Ihe amount of my neW monthly payment beginning on the firsl monthly payment dale afler the Change Dale until the amount of my monthly payment changes again. I F) Notice of Changes The Note Holder will deliver or mail to me a nOlice of any changes in my interest rate and the amount of my monthly payment before Ihe effective date of any change. The notice will include information required by law 10 be given me and also the title and lelephone number of a person who will answer any question I may have regarding Ihe notice. B. TRANSFER OF THE PROPERTY OR ,\ BENEFICIAL INTEREST IN BORROWER Unifurm Cu"enant J7 .If Ihe Securily Instrumenl is amended IU read as follows: Tra"sFu or tM Pro~r1~' or a Iknelid.llnter""l in 8"HOMer, If allM any rarl"f Ihe Pr'lpcrry ,Ir any' inlere.t,n It,. s"ld lIr transferred 1,lr if a bcnelkl.11 IIllerest III ","TImer is s"ltl ,Ir Iransferred "nd 80rr"'oIer is n,11 a nalural per..lD) ""h,,ull.ender's Jlrhlr "rlllen ellnsenl. I ender may, .Il.ls "Jlll'IIl, require immediate payment in full of all sums secured by Ihis Securlly' Instrumenl. Iluwever. lh,s uJltiolD shall n,11 be exen:ised by Lender if exercise is prohibited by federal law 3S o)f the date of Ihis Security Inslrumen\. Lender al.u shall nOI exercise this opliun if: la) Borrower causes 10 be submitted 10 Lender information required by Lender 10 evalullle the inlended Iransferee as if a neW loan were being made 10 rhe transferee; and (b) lender reasonably delermines Ihal lender's security will not be impaired by the loan assumption and that the risk of a breach of any covenanl or agreemenl in Ihis Security Inslrument is acceplable to lender. ..The Index figure available as of Ihe date Ihe initiallnlcrcsl rale was dClcrmincd ror Ihis loan was ...7.,):~......... "la. MULTISTATE ADJUSTABlE RATE RIDER-ARM S.2-5.ngle Fam,lr-Fanni. Ma.. FrNdl. Mlt Unllorm In"Nmant Form 31,. 3 85 NC fl2t!J I.NO (3.'7.....oe'