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ADJUSTABLE RATE RIDER 88_ 104904 TIllS ADJUSTABLE RATE RIDER ;, made ,hi. ---31- day of : AUQllSt . 19~, and is Incorporated into and shall be' deemed to lUDend and 5upplemenl .he Marrgage, Deed of TruJl, Dr Security Deed (the f1Sec:uril)' InsUUtnenl") of the same dlle given by the undersigned (che "Borrower"') to 5e'Cure Rorrower's Adjuslable Rote NOli: (the tlNole") to HOME FEDEML SAVINGS I LOAN ASSOCIATION OF ORAND ISLAND, NEBRASKA (Ihe "Lender") of lhe .ame dale and eoverlns lhe propcny described in the Scc:uricy InslTumenland located at: (I Year Treasury Index-Rate Caps) 2306 GateWBY and 4306 W. 13th Street, Grand Island, Ne 68803 (Property Address) ThII DOle tGDlaJaI prod.lolIS IIIowlB. ror chaales In my lalel'e!ll nlr lad my moathly PlJmratJ. Tbls noll!"'o Jlmlb lb. ImouDI m, laleml nlr CIa chlDle a. lay DOl! lime ud aIJo lbe minimum and Ihe mulmam ralr I mOIl p.y. ADomONAL COVENANTS. In addillon 10 the o;:ovcnants and agreements made in Ihe Security Instrument. Borrower and Lender fu"ber covenant and agree as follows: A. INTEREST RATE ANI> MONTHLY PA VMENT CHANGES The NO(e provides for an initial inlercst rate of R r; 1IJo. Section.; of Ihe Note provides for changes in the interest rate and the monthly payments, as follows: 4. fNTEREST RA TE AND MONTHL)' PA YMENT CHANGES (AI ChaD&< 0.... Theint~rcst rate I will pay may change on the first day of OCTOBER , 19~. and on that day every twel ve monthslhereafter. Each date on which my inter~1 rate could change is called a "Change Date." (8) The ...... Ikginning with the fint Change: Date, my imerest rale will be based on an Inde:\;. The "Index" is the weekly average yield on Uniled Slales Treasury securities adjusted 10 a conslanl maturity of I year, w made available by the Federal Reserve Board. The most reccn! Jndex figure available as of the date 4S da)'i before each Change Dale is called Ihe "Current Index. .. If the Index is no longer available, the Note Holder will choose n new index which is based upon comparable Infonnation. The Note Holder will gi\'c me notice of this choicC'. (0 CaJaaJadoa or CbaDpII Defon: each Chansc: Date, the Note: Holder will calculale my new inlerest ralC' by adding two &- one-Mal f percenlage poims ( ? c; '1t. to Ihe Currenllndex and roundlnllo the nearesl 1/81h of I "lD, subject to the limlls slated In Section 4{D) below. This rounded amount will be my new inleresl rate unlil the next Chanlle Date, The Nole Holder will then determine the amount of the monthly payment that would be sufficient 10 repay in fuIl the principal I am expected Co owe on that Chanae Dale in substantially equal payments by Ihe maturity date at my new IntercsE rate. The result of Ihis calculation will be the new amount of my monlhly payment. CD) UmllI OD laleral: Rale CbanlCl The interest rate I Ilft\ required to pay at (he finl Change Dalt will not be grealer than 10.. 5 fit or less than 7 n CIJo. Thereafler, my interest ralc will nC\'er be increased or decreased on any single Change Dale by more than UJO percent , n-t from the rate of in teres I I have been payina for the pra:a:1ing twelve months. The minimum interest rate on this loan will never be less than 7 0 .,. and the maximum interest rate will never be greater than 13.5 OIg. CE) Errectln o.1e or Cbaaaa My new interest rate will become effeclive on each ChanaC' Date. J will pay the amount of my new monthly paymenl beainning on the firsl monthly payment date afler the Change Dale until the amount of my monlhly payment chanses again. (F) Notice or ChaD.. The Note Holder will mail or deliller 10 me a nOlice before each Change Dale. The notice will advise me of: (i) the new interest rate on my loan as of the Change Dale; (ii) the amount of my monthly payment following Ihe Change Date; (Ui) any additional matters whiC'h the Note Holder is required 10 disclose; nnd (iv) the address of Ihe association you could conlact reprding any questions aboUl the adjustment notice. B. CHARGES, UENS UnifollJ'l COlle:nant 4 of the Security Instrument is amended to read as follows: .e. Charaet; Uma, Borrower shall pay aU taxes, a..sscs.smen15, and other charges, fines, and impositions atlribUlable to the Property which may attain & priority over this Security Instrument, and leasehold payments of ground rents, if any, in the manner provided under paragraph 2 hereof or, ir not paid in such manner, by Borrower makins payment.. when due, directly to the payee thereof. Borrower shall promptly furnish Lender all notices of amounts due under this paragraph, and In Ihe event Borrower shall make payment directly, Borrower shall promptly furnifh 10 Lender rcuipts evidcndng such payments. Borrower shall promptly discharge any lien which has priority oller this Security Instrument; however. Borrower .5ha.l1 not be required to discharge any such lien 50 long as Borrower: (a) shall agree In writing to the payment of the obliplion secured by su:::h lien in the manner acceptable 10 lender; (b) shall In good faith contest such lien by, or defend agaiml enforcement of such Uen in,lcpl proceedinas which in the opinion of Lender operale to pteVenllhe enforcement of Ihe lien or forfeiture of (he Properly or any part thereof; or (c) shall secure from the holder of such lien an agretment in a fonn salis factory to Lender subordinating such lien 10 this Security Instrument. 1r Lender dclcrmines lhat all or 1llI0)! part of the Property is subject 10 a lien which may auain a priorilY oller this SecUrilV Instrumenl, Lmder shall ,live Borrower a notice idenlifying such lien. Borrower shall satisfy such lien Dr take one or more of the actions set forth abolle withlnrcn days of the linnl of the nolice. C. NOTICE Uniform Cowmant 14 of the Security Inslnlment is amended to read as follows: U. Noda!. F..xccpt for an)' notice required under applicable law 10 be gi\'en in another manner, (a) any notice 10 Borrower provided for In Ihi... Sccurily Instrument shall be liven by dell\'ering it or by mallinsl! by finl cla5.5 mail to Borrower at (he Properly Addrosllr al such olher addH:s~- u Borrower mI)' dnianate by nolke 10 Lender as provided herrin, and (b) any notice 10 Lender shall ~ gillen by finl class mail ro Lender', lIddJeu llaled herein 0110 luch other addn:u as l...cndu may daiJll8le by nollce 10 Borrower In prm-ided herein_ An~ nlllll"(' provided fur In (hi, SecutllY ImtrumcnllhaJllX' dttmro to hne been given 10 Borro"'"tt or Lender ""hen liIi...en in the mnnner desililnalat hcrem