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<br />ADJUSTABLE RATE RIDER
<br />(I Year Treasury Index-Rate Caps)
<br />
<br />88- 104148
<br />
<br />THIS ADJUSTABLE RATE RIDER ismadelhis 27th day of July ,19~,
<br />and is incorporaled into and shall be deemed 10 amend and supplement Ihe Mortgage, Deed of Trusl, or Securily Deed (Ihe "Security
<br />Instrumenl") of the same dale given by the undersigned (the "Borrower") 10 secure Borrower's Adjuslable Rate Note (the "NOll''') 10 HOME
<br />FEDERAL SAYINGS a LOAN ASSOCIATION OF GRAND ISLAND, NEBRASKA (the "Lender") of Ihe same date and covering the
<br />property described in the SecurilY Instrument and localed at:
<br />
<br />#48 Kuester's Lake. Grand Island. NE 68801
<br />
<br />(Properly Address)
<br />
<br />This note contaIns provWODl allowlna for cbanl" In my Infernt rate and my montbly
<br />payments. Tbls noli! allo IImlll tbe amounl my Inlereet raIl' can cbnle af anyone lime and
<br />.110 Ibe m1D1mum and lite maldmum ralt' I musl pay.
<br />
<br />ADDITIONAL COVENANTS. In addillon to Ihe covenants and agreemenls made in the Security Instrument, Borrower and Lender
<br />further covenanl and agree as follows:
<br />
<br />A. INTEREST RATE AND MONTHLY PAYMENT CHANGFS
<br />The NOll' provides for an initial interest rate of 8.5 OJ.. Section 4 of the NOll' provides for changes in the interest rate and Ihe
<br />momhly payments, as follows:
<br />
<br />4. INTEREST RA TE AND MONTHL Y PA YMl:."NT CHANGES
<br />(AI Cbanlt' Dales
<br />Theinteresl raIl' I will pay may change on the firsl day of AUl;jUSt , 19~, and on that day every
<br />12 months Ihereafler. Each date on which my interest rate could change I" called a "Changc Dale,"
<br />
<br />(8) Tbt'lndt'.
<br />!leginning wilh Ihe first Chaoge Dale, my interesl raIl' will be based on an Index, The "Inde,," is Ihe weekly average yield on United Slales
<br />Treasury securities adjusled to a constant malurily of I year. as made available by the Federal Reserve Board. The moS! recent IndCll figure
<br />available as of the date 45 days before each Change Dale is called Ihe "CurrentlndCll."
<br />If the Index is no longer available, Ihe Note Holder will choose a new inde" which is based upon comparable information. The NOll'
<br />Holder will give me notice of this choice,
<br />
<br />(C) Calcula~on of Chances
<br />Before each Chanse Dale, Ihe NOLl' Holder will calculate my new interest raIl' by adding two & one-half percentage
<br />points ( 2 5 "!o) to Ihe Current Inde" and rounding to lhe nearesl 1/8th of I"., subjeclto Ihe limits staled in Seclion 4(0) below,
<br />This rounded amount will be my new interest rail' unlillhe neXI Chanae Dale.
<br />The NOll' Holder will then delermine the amounr of the monlhly paymelll Ihal would be sufficient 10 repay in full Ibe principal I am
<br />""peeted 10 owe on lhal Change Date in subslantially equal payments by lhe malurily dale al my new interesl rate. The resull Oflhis calculation
<br />will be the new amount of m)' monthly payment.
<br />
<br />(DI Umlfs on Inlt'reel Kale Chaoln
<br />The interest rail' I am required to pay at the firsl Change Dale will not be grealer Ihan 10.5 "" or less Ihan
<br />~ 0 "!o, Thereafter, my interesl rale will never be lncrea.ed or decreased on any sinale Chanae Dale by more than tWD
<br />(1 from lhe raIl' of interesll have been paying for Ihe precedina twelve monlhs. The minimum interesl rail' on Ihis loan will never be
<br />leSSlhan 7.0 "!o and Ihe maximum interesl rate will never be grealer Ihan 13.5 "!o.
<br />
<br />(E) Effecllve Dale of Chanles
<br />My new inleresl rale will become effeclive on each Change Dale, 1 will pay Ihe amount of 101 new monthly paymenr beginning on the firsl
<br />,nonthly payment dare after the Change Dale uUlillhe amounl of my monrhly payment changes again,
<br />
<br />(t') Not," of Chanles
<br />The NOll' Holder will mail or deliver 10 me a notice before each Change Date. The nolice will advise me of:
<br />(il Iht: new interesl raIl' on my loan as of .he Change Dale;
<br />(ii) the amounl of my monthly paymenl following lhe Change Dale;
<br />(Iii) any addilional mailers which the NOle Holder is required 10 disclose; and
<br />(iv) Ihe address of the association you could contael regarding any Queslions aboullhe adjustment nOlice.
<br />
<br />B. CHARGE....; UENS
<br />Uniform Covenanl 4 of lhe Security Instrument is amended to read as follows:
<br />
<br />4, CbarJea; Uena. Borrower shall pay all taxes, assessments, and olher charges, fines, and imposilions atlribulable 10 Ihe Property which may
<br />allain a priority over this Security Instrument, and leasehold payments of ground renlS, if any, in Ihe mauner provided under paragraph 2 hereof
<br />or, If nOI paid in such manner, by Borrower making payment, when due, directly 10 the payee thereof. Borrower shall promptly furnish Lender
<br />all notices of amounls due under this paragraph, and in the event Borrower shall make paymenl directly, Borrower shall promptly furnish 10
<br />Lender receipts evidencing such paymenrs. Borrower shall promptly dischal'ge any lien which has priority Over this Security Instrument;
<br />however, Borrower shall not be requirtd to discharge any such lien so long as Borrower: (a) shall agree in writing 10 Ihe payment of Ihe
<br />obli8lllion secured by such lien Il1lhe manner acceplable to Lender; (b) shall in good failh contesl such lien by, or defend against enforcement of
<br />.uch lien in, legal prococ:dings which In the opinion of Lender operale 10 prevent Ihe enforcement of lhe lien or forfeiture of the Property or any
<br />part thereof: or Ic) shall secure from lhe holder of such lien an agreemenl in a form satisfactory to Lender subordinalilll such lien to lhis
<br />Security Instrumenr.
<br />If Lender determines thai all or any part of the Property is subjecI 10 a lien which may allain a priorily over Ihls Security Inslrument,
<br />Lender shall give Borrower a nOlice identifying such lien, Borrower shall salisfy mch lien or take one m marc of the aeliolU sel forth above
<br />wilhin ten days of lhe giving of the nOlice,
<br />
<br />C. NOTICE
<br />Uniform Covena,,, 14 of Ihe Securlly InslrUment is amended 10 read as fullows:
<br />
<br />14: NUlkt. Excepl for allY nolice required under applicable law 10 be given in another manner, (a' any notice 10 Uorrower provided f", on 11m
<br />Secutlly In.trumen. .halll>c: given by delivering il or by mailing il by flm class 11..1110 1I0nower allhc p"'pcrlY Address 0101 such olher addre"
<br />... Ik,rrower may dc"gnale by nolke 10 Lender.. prm'ided herein, and (blany nul ice 10 Lender ,hllll he ~i"en hI' fir.l ,'In" 111l1l1 h' I emler',
<br />addreu .tarrd h~rcjn or 10 'tlU:h ocher addn~!IIs Ci~ Lender may de~lgnlllc by l10lkr to lJorruwer n." ,..rnviucd herein, ..\ny nOllct' 1'1 U\ \(ll~t1 I.,r 111 1 hl\
<br />Securll)' InlOtrumrnf ",hall or drrrned to hHlo-r been Ilivcn 10 Borrower nr l.emll:, "'hen tljvclIll1 fht" nUHll1Cr d(,"IKnlll~ hl'prlll
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