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,.a~T0'5262 ADJUSTABLE RATE RIDER 88- 105141 (I YellrTreasury l"dcx.RareCaps) THIS ADJUST ADLE RATE RIDER Is made this -220d......--.day of SRnt emhp.r . 19~. IlOd Is incorporated Into and shall be deemed 10 amend and supplement the Mortgage. Deed of Trull. or Security Deed (the ltSecurJly Instrumtnt") of lhc same dale given by the undersigned (the "Borrowc:r") to Iiecurc Borrower's Adjusrablc Rale: Note (lhe "Note") to I:I.Q!!! FEDERAL SAVINGS I lOAN ASSOCIATION OF GRAND ISLAND. NEBRASKA (the "lender") of the same da'e and covering 'he property described in the Security Instrument and located at: 660 N. Orleans. Grand Islanrl. Nehraska 688m (ProperlY Address) Tbis note contalru proVlsJoDl aUowlna for cbanges In my Intetal nle lad my monllll1 payments. This notc .ba limits Ihe amount my Inferat rate Cln change .. Iny one lIme and also tbe minimum and the maJdmum nte I must pay. ADDITIONAL COVENANTS. In addition 10 the covc:nants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rale of ten lIfo. Section 4 of the NOle provides for changes in the interest rate and the monthly payments. as fonows: 4, INTEREST RA TE AND MONTHL Y PA YMENT CHANGES (A) Chlnge DIlles The interest rate I will pay may change on the first day of March , 19 ~,and on that day every 12 months thereafter. Each date on which my interest rate could change is called a "Change Date." CBI The lod.. Beginning with the first Change Date, my interest rate will be based on an Index. The "Index" is the weekly average yield on United States Treasury securities adjusted to a constant maturity of 1 year, as made available by the Federal Reserve Board. The most recent Index figure available as of the date 4S days before each Change Dale is called the "Current Index." If the Index is no longer available. the Note Holder will choose a new index which is based upon comparable information. The Nalc Holder will give me notice of this choice. (C) CaIculadoD or ChaDae5 Before each Change Date. the Note Holder will calculate my new interest rate by adding three & one-ha1 f percentage points ( 3.5 %) to the Current IndeJI. and rounding to the nearest 1/8th of lillo, subject 10 the limits stated in Section 4(0) below. This rounded amount will be my new interest rale until the next Change Dale. The Note Holder will then delermine the amount of the monthly payment that would be sufficient to repay in fulllhe principal I am expected to owe on Ihat Change Date in substantially equal payments by the maturity date al my new interest rate. The result of this calculation will be the new amount of my monthly payment. (D) UmlllI OD lateresl Rate CbaDges The interest rate I am ~~~~I.~ired to pay at the first Change Dale wjJl nOl.}?~,,~,~ter than 15.0 Ofa or less than 8.0 ",.1m~rn+~~~KX~i<llQI~~II.'f~~n;~~"~~~~l\WK~XXXXXXXXXX XXXXX)tI\,liJQ\i!iIf.l\Xlt~lU<~i!ill.'ti~~)f~~IIiX~~~i!iml\ll&lls. The minimum interest rote on this loan will never be less than 8.0 1Il0 and the maximum interest rate wi1l never be greater than 15.0 lIla. (E) Errutlve Date of ChaDges My new interesl rate will become effective on each Change Dale. I will pay the amount of my new monthly payment beginning on the firsl monthly payment date after the Change Date unlil the amount of my monthly payment changes again. (F) Nodce of CbaDl!:e!I The Note Holder will mail or deliver to me a notice before each Change Dale. The nOlice will advise me or: (i) the new interest rate on my loan as of the Change Dale; (li) the amount of my monthly payment following the Change Date; (iii) any additional matters which the Nole Holder Is required to disclose; and (iv) the address of the associalion you could conlact regarding any questions about the adjustment notice. B. CHJ\.RGES; LIENS Uniform Covenant 4 of the Security Instrument is amended to read as follows: 4. Charaes; UeDlI. Borrower shall pay all taxes, assessmenls, and other charges. fines, and impositions attributable 10 the Property which may attain a priority over this Security Instrument. and leasehold payments of ground rents, if any. in the manner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making paymenl, when due, directly to the payee thereof. Borrower shall promptly furnish Lender all notices of amounts due under this paragraph. and in the event Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Security Inslrument: however, Borrower shall not be required 10 discharge any such lien so Ions as Borrower: (a) shall agree in writing to the paymenl of the obligationsccured: by such lien in the manner acceptable to Lender; (b) shall in good faith contest such lien by, or defend against enforcement of such lien in,legaI proceedings which in the opinion of Lender operate to prevent the enforcemenl of the lien or forfeiture of the Property or any pan thereof; or (c) shall secure from the holder of such lien an agreement in a form satisfactory to Lender subordinating such lien 10 Ihis Security Instrumenl. If Lender determines that all or any part of Ihe Property is subject to a lien which may attain a priorilY over this Security Instrument. Lender shall give Borrower a notice identifying such lien. Borrower shall salisfy such lien or take one or more of the actions set forth above within ten days of the giving of the notice. C. NOTICE Unif~rm Covenant 140f the Security Instrument is amended to read as follows: 14. Notice. Except for any nolice required under applicable law to be given in another manner, (a) any notice 10 Borrower provided for in this Securill-' Instrument shall be given by delivering it or by mailing it by first class mail 10 Borrower at the Property Address or al such other address as Borrower may designate by notice to Lender as provided herein. and (b) any nolice to lender shall be given by first class mail to Lender's addreu stated herein or LO such other address as Lender may designate by notice 10 Borrower IlS provided herein. Any notice provided for in lhi!<> Security Instrumenl shall bcdeemed to ha.ve been given to Borrower or Lender when given in the manner designated herein.