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ADJUST ABLE RATE RIDER (1 VeAr Tn:a.lury Index.aalt Clip,) 88- 105700 THIS ADJUSTABLE RAm RIDER I. m.derhb ~ day of October . 19 ~_. IlDd is incorporated into and ,hall be deemed to amend Gnd supplement the Monslse, Deed of Trust, or Security Deed (lhe "Security Instrument") of the l&tl1e dan~ aiven by the undersigned (Che "Borrower") 10 secure Borrower's Adjustable Rate Nate (Ihe "Note") lo HOME FEDERAL SAVINGS I LOAN ASSOCIATION OF GRAND ISLAND. NEBRASKA (lhe "Lende,'" of the same date and covering the property described in the Security Instrument and located at: 103 West 11th Street, Grand Island, Nebraska (Property Address) TIlls I\ole ('(Intalas proYisfoaJ aU(l"IDI for cbaDl1S la my lateral nte aDd III}' monthly paymub. Thb DOIt~ also DmllI .be- amODDI mJ lnlertll nit can chaaRe .. lay ODe time ud also the mbalmum and the mulmam rale I mull pay. ADDITIONAL CQVENANfS. In addition to the covenants and agreements made in the Security lnstrument, Borrower and Lender further covenant and agree as follows: A. INnJIIST RATE AND MONTIILY PAYMENT CHANGES The Notc provides for an inidal interest rate of 1 3.0 OJa. Section 4 of the Note provida for chango in the intemt flUe and the monthly payments. as folloa's: 4. JNTEREST RA TE AND MONTHL Y PA YMENT CHANGES (A) CbureDaIa TheinlCIl::5t rate I will pay may change on lhe first day of NmlJ::!mhF!T I 19~. and on that day every tLJOl \,'C months thereafter. Each dale on which my interest rate could change is called a "Change Date." (81 1he Iodo Beginning with the rust Change Date, my inleresl rate will be based on an Index. The "Index" is the weeJdy average yield on United Stales 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 "CUlTCnllndex." Ir the IndeJl: is no longer available, the NOle Holder will choose a new index which is based upon comparable information. The: Note Holder will give me notice of this choice. ~~or==::~:e NOle Holder will ca1cuJa~ my new inlerest rate by adding five and one half percentage points ( 5.5 'lo) to lhe Current Index and rounding to the nearest 1/8th of 10/0, subject to the limits stated in Section 4(D) below. This rounded amount will be my new interest ra~ until the next Change Date. The Note Holder will then determine Ihe amount of the monthly payment tltal would be sufficient to repay in full the principal I am expected to owe on that Change Date in substantially equal payments by the maturity date at my new interest rale. The result of this calculation will be the new amount of my monthly payment. CD) Umlts aD IDteftst RaIl! CIwIaa The interest rale l am required to pay at the first Change Dale will not be greater Ulan 1 5 0 '\of6 ~r~t 11 .0 Glm. Thereafter, my interest rate will never be increa!oed Dr decreased on any sinaic Chan&e Date by more than 2.0 from the rate of interest I have been paying fOT the preccdina twelve monlh~.~minimum interest rate on this loan will never be less than 10.0 % and the maximum interest rale will never be grealer than. Ilo. (E) m_DaIc.rChaqa My [UW interest ra1e will become effective on each Change Date. I will pay Ihe amount of my new monlhly p.llyment beainning on the first monthly payment date after the Change Date until the amount of my monlhly payment chanile5 qain. (F) N.......IChaqa The Note HoJder will mail or deliver to me a notice before each Chanle Dale, The nOlice will advise me of: (i) the new interesl rate on my loan as of the Change Date; (il) the amount of my monthly payment following the Chanac Date; (ill) any additional matlerS which the Note Holder is required to disclose; and (iv) the address of the association you cou!d contact regardina any questions about the adjustment notice. B. CHARGES; UENS Uniform Covenant. 4 of the SecurilY Jnstrument is amended to read as follows: .c. CIaareta; I..ims. Borrower shall pay all taxes, assessments, and other charses, rmes, and impositioIl5 attributable to the Property which may main a priority over this Security Instrument. and leasehold payments of ground rents, if any. in the manner provided under paraarapb 2 hereof or, if not paid in such manner, by Borrower making payment. ...ben due, dircct.ly to the payee thereof. Bottowe: &hall promptly fumidt Lender aU notices of amounts duC' under this paragraph, and in the t'VCtIt Borrower shall make payment directly, Borrower shall promptly furnish to Lender ra:cipu evidentinl such payments. Borrower shall promptly dischar.,:C' any lien which ha5 priority over thili Security Instrument; however. BorTO'Ner shall not be required to disc:harle any such lien so Ions 85 Borrower: la) shall agree in writina to the payment of the obliption secured by sucl1lie:n in the manncr acceptable to Lender; (b) shall in 800d faith CODt.est5Uc:hlien by, or defend apinsl enforcement of such lien in.lcp1 proa:cd.ings which in the opinion of U:nd.er operate to ptc'YCDt the enforcement of the tien or forfeiture of the Property or any pan thereof; or Ie) shall secure from the holder of such lien an agreemenl in a form satisfactory to Lender subordinatin& IUch lien 10 this Security Instrument. U Lendtt detc:nnines that aU Dr any pan of the Property is subjO:I to a lien which may attain a priority over this SctuJiry Instrument. Lc:ndc:r sbaU give Borrower a notice identifying such lien. Borrower shall utidy such lien or take one OT more of the actions set forth above within ten days of the aivins of the notice. C. NonCE Unirorm Covenant 10lil or the SecurilY Instrument is amended to read 85 follows: 1.. NaIkI-.. Excq:rl for any notice required under applicable lIi.'lO be gi\'en tn another maMl:f. (a) any nouce to BorroWCT provided for in thi!. 5crwily lmuumcnt Wll be Jilo'eD by delivmna it Of by mailina it by fint clan mail 10 Borrowl:f at the Proper1}' Address or at iuch other addrt!t' In BonO'lWC maJ ~ by notice 10 Under aJ. provided herrin. and (b) an)' notice 10 Lender ,hall be gi\len b)' finl clan maillD Lender', addreu \;tated hcrt:in or to wch athet addres.. ti Lender rn~)' doip:l&te by notice 10 Borr~ IU prO\'ided herrin, An)' nolitx' proV1ded for In thu Securul' tm1rutnC'D1 .halI be dermed to h.a\'~ hc"~ J,IVttl to Borrower Of Lrnder when given In th~ manner desiiln&tt<! herein