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<br />ADJUSTABLE RATE RIDER
<br />
<br />(I Year Treasury Index-Rate Caps)
<br />
<br />THIS ADJUSTABLE RATE RlDER is made this 22nd day of July ,19~.
<br />liIId is incorporated into and shall be deemed to amend and supplement the Mortgage. Deed of Trust. or Security Deed (the "Security
<br />IlI5trument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Adjustable Rate Note (the "Note") to ~
<br />FEDERAL SAVINGS' LOAN ASSOCIATION OF GRAND ISLAND, NEBRASKA (the "Lender") of the same date and covering the
<br />property described ill the Security Instrument and located at:
<br />
<br />88-
<br />
<br />104133
<br />
<br />2020 Stagecoach Road, Grand Island, NE 68801
<br />(Property Address)
<br />
<br />TbIlI note contains provUlons a1loMnl for cbanlell In my Intereet rate and my montJily
<br />payments. Tbls note also Umlts lbe amount my Intemt rate can cbanle at anyone time and
<br />also fbe m1Dimum and the maximum rate I mUlt PlIy.
<br />
<br />
<br />ADDITIONAL COVENANTS. In addition to lhe covenants and agreements made in the Security Instrument, Borrower and Lender
<br />further covenant and agree as follows:
<br />
<br />A. INTEREST RATE AND MONTHLY PAYMENT CHANGES
<br />The Note provides for an initial interest rate of R n Ofo. Section 4 of the Note provides for changes in the interest rate and the
<br />monthly payments, as follows:
<br />
<br />4. INTEREST RA TE AND MONTHL Y PA YMENT CHANGES
<br />(A) Cunge Dates
<br />The interest rate I will pay may change on the first day of AUQust ,19~, and on that day every
<br />12 months thereafter, Each date on which my interest rate could change is called a "Change Dale. "
<br />
<br />(8) The Index
<br />Beginning with the first Change Date, my interest rate will be based on an Index. The "Index" is the weelely average yield on United States
<br />Treasury securities adjusted to a constant maturity of I year, as made available by the Federal Reserve Board. The most recent Index lipre
<br />available as of the date 4S days before each Change Date is called the "Current Index. "
<br />If the Index is no longer available, the Note Holder will choose a new index which is based upon comparable information. The Note
<br />Holder will give me notice of this choice,
<br />
<br />(C) Calculation or Cbanles
<br />Before each Change Date, the Note Holder will calculate my new interest rate by adding two & one-hal f percentage
<br />points (' 2.5 %) to the Current Index and rounding io the nearest l/8th of I %, subject to the limits stated in Section 4(0) below.
<br />ThIs rounded amount will be my new interest rate until the next Change Date.
<br />The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay in full the principal I am
<br />expectcd to owe on that Change Date in substantially equal payments by the maturity dllte at my new interest rate, The result of this calculation
<br />will be the new amount of my monthly payment.
<br />
<br />(D) lJm\fI on Interat Rate Cbanles
<br />The interest rate I am required to pay at the fi.rst Change Date will not be greater than 10 .0 '" or less than
<br />7 . 5 0;0. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than two
<br />( :2 . g ) from the rate of interest I have been paying for the preceding twelve months. The minimum interest rate on this loan will never be
<br />less than 7 S 0;. and the maximum interest rate will never be greater than 13.5 110.
<br />
<br />(E) Effective Date of Chanles
<br />My new interest rate will become effective on each Change Date, I will pay the amount of my new monthly payment beginning on the first
<br />monthly payment dale after the Change Date until the amount of my monthly payment changes again.
<br />
<br />(F) Notice of CbaDlcs
<br />The Note Holder will mail or deliver to me a nouce before each Change Dale, The notice will advise me of:
<br />(i) the new interest rate on my loan as of the Change Date;
<br />(Ii) the amount of my monthly paymenl following the Change Date;
<br />(iii) any additional matten which the Note Holder is required to disclose; and
<br />(iv) the address of the association you could contact regarding any questions about Ihe adjuslment notice.
<br />
<br />B. CHARGF",;; LIENS
<br />Uniform Coven.mt4 of the Securily Instrument is amended to n,ad as follows:
<br />
<br />4. Cb......: Ueaa. Borrower shall pay all taxes, assessments, and other charges, lines, and impositions attributable to the Property which may
<br />altaln a priority over this Security Instrument, and leasehold payments of ground rents, if any, in Ihe manner provided under paragraph 2 hereof
<br />or, if not paid in such manner, by Borrower maleing payment, when due, directly to the payee thereof. Borrower shall promptly furnish Lender
<br />all notices of amount, due under this paragraph. and in the event Borrower shall malee payment directly, Borrower shall promptly furnish to
<br />Lender receipts evidencing sllch payments. Borrower shall promptly discharge any lien which has priority over this Security Il15trument;
<br />however, Borrower shall not be requIred 10 discharge any such lien so long as Borrower: (a) shall agree in writing to the payment of the
<br />obIigaUon sceured by such lien in the manner acceptable to Lender: (b) shall in good faith contest such lien by, or defend agalnst enforcement of
<br />such lien in, legal proceedings which in the opinion of Lender operate to prevent the enforcement of the lien or forfeiture of the Property or any
<br />part thereof; or (c) shall securc from the holder of such lien an agreement in a form satisfactory to Lender subordinating such lien to this
<br />Security Instrument,
<br />If Lender determines that all or any part of the Property Is,ubjecI to a lien which may attain a priorlly over Ihi. Security Instrument.
<br />Lender shallalve Borrower a nolice idenlifylng such lien, Borrower shall saUsfy such lien or talee one or more of the actions sel I'orth above
<br />within tell days of the giving of Ihe notice,
<br />
<br />C. NOTICE
<br />U~irornl Covenanl 14 of the Security In'frumelll;' amended 10 read as follow"
<br />
<br />14. NDlk.. l!lce~l for any nOlice required under applicable law to be given In anOlher manner, (a) any nollce 10 Borrower l,ro,'lded for in thi,
<br />!i<<urlly Inllrurnenl .hall be given hy delivering II or by mailing II by nrs! elM' mall 10 Borrower althe Property Addre.. or al such olher addre"
<br />.. 8orrn,.er may dellgnale hy noli<:c! 10 Lender a. provided herein, and (hI any notice In Lender shall be given hy nr.1 ria.. mail 10 t emler',
<br />addre.. "aled hrreto or In .od, olher addrc.. a. Lender may de,ianale by notice to Borrower as ,,1O,'lded herein, Any nOllce 1,,,,,,,lIed ,,,' III ,h"
<br />"'k,,'urlt)' InuuJOu"nl \hall he ~('('m('" 10 haVE: bt"C'1I liven 10 harrower or Lemler when itlv~n In the I11llnner drdlllUUrtJ hen"lIl
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