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88- 105561 ADJUSTABLE RATE RIDER 'I "car Treasury lodC'II-Rule Caps) TIllS ADJUSTABLE RATE RIDER h mndtlhl5 ~ dny of October , 19~, and ls incorporated Into nnd shan be deemed In amend and supplement the MongoBc. Deed or Trust, or Security Dc:ed ([he "Security Instrument") or the same date given by the undersigned (the "Borrower") to secure Borrower's Adjustable Rate Note (lhe "NDle") to HOME FEDERAL SAVINGS' LOAN ASSOCIATION OF GRAND ISLAND, NEBRASKA (lh, "L,nder") of lh, sum, dnle nnd ,overing lh, propcny dc:saibed In lhe Security Instrument Bnd located at: 915 South Vine, Grand Island, Nebraska (Prnpony Address) Thb Dole C1Jntah. proYislODJ allowlq for cbaaaa In my lateral rate .od my montbl, pllymenls. TbiJ Dote also limits tbe amollol my lateral rate an chinle al In)' onc Ome and also tbe minimum .ad Lhc mwmum ralc! I must pay. ADDITIONAL COVENANTS. In addition 10 the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and ag~ I1S follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGFS The Note provides for an initiul interest rate of _~ Ofa. Section 4 of th.: Note provides for changes in the interest rate and the monthly payments, I1S follows: 4. lNTEREST RA TE AND MONTHL r P;I YMENT CHANGES (AI Cba... 0.... November 89 The interest rate I will pay may change on the first day of , 19 _. and on that day every twel ve months Ihereafter. Each date on which my interest rale could -:hange is called a "Change Dale." (8) Tbr ladclIi Beginning with thc first Change Dale. my interest mte will be based on an Index. Tht: "Index" is the weekly average yield Dn United Slates Treasury securities adjusted 10 a constant maturity Df I year, as made available by Ihe Federal Reserve Board. The most recent Index figure available as Df the date 45 days before each ChanRe Date is called the "Curren! Index. .. If the Index is no longer available, Ihe Note HDlder will choose a new indc:x which is based upon comparable informatiDn. The Nott: Holder win give me notice of this choice. (C) CaladaUOD 0' CbaoJa Before each Change Datc, the Note Holdcr will calculate my new interest rate by adding three percentage points r 3.0 lITo' 10 the Current Index and rounding to the nearest 1/8th Df J %, subject to the limits stated in Section 4(0) below. This rounded amount will be: my new interest rate unlil the next Change Dale. The Note Holder will then determine the lltIlount of Ihe monthly payment that would be sufficient to repay in full the principal I am expected to owe on that Change Date in substantially equal payments by the malurity dale at my new interest rate. The result of this calculation will be the new lltIlounl of my monthly paymcnL. (D) limits o.laternl Rate! Chaaae!l The interest rate I lltIl required to pay at the first Change Dale will not be greater than 1:? n OJo or less than e g~ 111.. Thereaftcr. my interest rale will never be increased or decreased on any single Change Date by more than hm 1'29rcent (2: 0 from the rale of il1lcrcsll have been paying for the precedinr; !-"elvt: monl~. The minimum inlerest rate on this loan will never be Jess than 8.00 Ifo and the maximum interesl rate will never be greater than 15.0 fIl.. (E) Elrertlvc Dale! or Cbaaaes My new interest rate will become effective on each Change Date. I will pay the amount of my new monlhly payment beginning on the first monthly payment date after the Change Dote until the amount of my monthJy payment changes again. (F) Nolk:eorCha.1ft 111= Note Holder will mail or deliver to me a notice before each Change Date. The notice will advise me of: (i) the new interest rate on my loan as of the Change Date; (ii) the amounl of my monthly payment following the Change Date; (iii) any additional matters which the Note Holder is required to disclose; and (jv) the address of the association you could contact regarding any questions ahoul the adjustment notice. B. CHARGFS: UENS Uniform Covenant. of the Security Instrument is amended to read as follows: .... CIlarJa; UeaI. Borrower shaJ pay all taxes, assessments, and other charges, fines, and impositions attributable to Ihe Propl:ny which may auain a priority over this Security Instrument, and leasehold payments of ground rents, if any. in 1he manner provided under paragraph 2 hereof or. ifnct paid in such manner. by Borrower making payment, when due, dircctJy to the payee the~r. Borrower shall promptly furnish Lender aU 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 paymcnts. Borrower shall promptly discharge any lien which has priority over this Security InSlrumenl; however. Borrower shall not be rrquired to discharge an)' such lien so long as Borrower: (a) shall agree in writing to the payment of the obliption secured by such lien in the manner acceptable to Lender; (hJ shaH in good faith cORlest such lien by, or defend agaiosl cnforcemenl of such lien in, JegaJ proceedings which in the opinion of Lender operale to prevent the enforcement of the lien or forfeiture of the Property or any pan t!lCnof; or (c) shall secure from the holder of such lien an agreement in a form satisfactory to Lender subordinating such Iiell 10 this Seauity Instrument. If Lender delermines that all or any part of the Property is subjeel 10 a lien which may altain a priority over this Security Inslrumenl, Lender 5hal1live Borrower _ nOlice identifying such lien. Borrower shall !o3til\fy such lien or LIke one or more of Ihe actions set (orth above within ten da)'5 or the ,Jivinl of the notice. C. NonCE Unirorm Covenant I" or.he Security Instrument ilamcnded 10 read as follows: I". NIIIItt. ExCCPI for any notice required under applicable law 10 be given in another manner. ta) any nouce In Borruwe. provided for In thl~ SecurilY hWrumenl1.hall be liven b,,- dehverins II or by mailing iI by first cws mail to Borrower allhe Property Addreu or al ~Ul.:h olhe. addre~' ... Borrowe:r may cksipw.lc by nOI.i~ In Lendcr B.I provided herein. and Ib) any nOlir..'l' 10 Lender dudl ~ (t:l\len hy fin.1 d.ll~!o malllu l endr:t., .dd1nJ .taln! hercinor to 1.uch other addrl:'U as. Lender may desiJ;tUIlt' by notice 10 HorrowC'f1U pro\'lded hC1'l:'lIl A.n) lUlU..'!: pltlnllc:t.lllll mlhl' Sealnl} Imuumn)! .hall bc:' deemed 10 ha\"C' bern lIi\"cn 10 8orro.n or Lender when j!1\'en In Ihe mannC'f de\l,:n.l1IN herem