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<br />(I Year Treasury Indell-Rate Caps)
<br />
<br />88_10591E
<br />
<br />ADJUSTABLE RATE RIDER
<br />
<br />THISADJUSTADLE RATE RIDER is made this ~dnyof October ,19~,
<br />and is incorporated into and shall be: dC('med 10 amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security
<br />Instrument") of the samc dale given by the undersigned (thc "Dorrowcr") to secure Borrower's Adjustable Rate Note (the: "Notc") 10 HOME
<br />FEDERAL SAVINGS & LOAN ASSOCIATION OF GRAND ISLAND, NEBRASKA (the "Lender") of the snme dnte and covering the
<br />property described in the Security Imtrumenl and loented at:
<br />1407 West Street. Wood River. Nebreska
<br />(Property Address)
<br />This nole conlaJns pro1llslol1!l aUowlng ror changes In my Interest rate and my monthly
<br />paymen15, This note also limits the amount my interest rale can chlmge al anyone lime and
<br />also the minimum Bnd the muimum rate I musl pay.
<br />
<br />ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender
<br />furlher covenant and agree as follows:
<br />
<br />A. INTEREST RATE AND MONTlIL Y PAYMENT CIIANGES
<br />The Note provides for an initial interest rale of 11 .0 tIl0. Seclion 4 of t he Note provides for changes in the interest rate and the
<br />monthly payments, as follows:
<br />
<br />4. INTEREST RA TE AND MONTHL t' PA YMENT CHANGES
<br />CA) Change Dales
<br />The interesl rute I will pay may change on the first day of Oecember._ , 19~, and on thntday every
<br />h 101 "0 months Ihereafter. Each date on which my interesl rule 1.:ould 1.:hangc is called a "Change Date."
<br />
<br />(81 The Inder.
<br />Ucginning with the first Change Date. my interest rate will be based on an Index. The "Index" is the weekly llverageyield on United States
<br />Treasury securities adjusted to a constant maturity of I year, as made available hy the Frderal Reserve Board. The most recent Index figure
<br />available as of the date 45 days before each Change Date is called the "Current Index, ,.
<br />If the Index is no longer available, thc Note Holder wlll choose a ncw index which is based upon comparable inronnation. The Nott:
<br />Holder wlll give mt notice of this choice.
<br />
<br />(Cl CalculatioD or Chanacs
<br />Defore each Change Date, the NOle Holder will calculate my new interest rale by adding thrpp " nnpJh~ 1 f percentage
<br />points ( 3.~ OJD) 10 Ihe Currenl Index and rounding to the nearest 1/8th of J %, subject to the limits stated in Section 4(0) below.
<br />This rounded llJttount will be my new interest rate until the next Change Date.
<br />The Note Holder will then determine the amoum of the monthly payment thaL would be sufficient to repay in full the principal I IlJtt
<br />expected to owe on that Change Dale in substantially equal payments by the maturity date at my new interest mte, The result of this calculation
<br />will be the new amounL of my monthly payment.
<br />
<br />(D) UmIbi on Interest Rale Changes
<br />The interest rate I am required to pay at the first Change Date wlIl not be greater than 1 3.0 to or less thant
<br />9.0 070, Thereafter, my inlerest rate will never be increased or decreased on any single Change Date by more than wo percen
<br />(/~) from the rate of interest I have bct:n paying for the preceding twelve months. The minimum interest rate on this loan will never be
<br />les..than 9 OJB and the maximum interest rale will never be greater than 16 lrlD.
<br />
<br />(E) Effeclln DalC' of CbanKcs
<br />My new interest rate will become erfe1.:tivc: on I."ach Change Date. I will pay the amount of my new monthly payment beginning on the first
<br />munthly payment dale after Ihe Changc Dale until the amount of my monthly payment changes again.
<br />
<br />(101 Nolltt' or Changa
<br />The NC"te Holder will mall or deliver to me a notice heforeeach Change Date. The notice willndvise me of:
<br />(i) the new interest rate un my lonn as of the Change Date;
<br />(ii) the amount of my monlhly payment following the Change DaLe;
<br />(iii) any additional matters which the Note Holder is required to disclose; and
<br />liv) the address of the association you could conlacl fCgl1fding any queslions about thc adjustment notice.
<br />
<br />B. CHARGES; LIENS
<br />Uniform Covcna.nt 4 of the Security Instrument is amended to read as follows:
<br />
<br />4. ChaTJtlI: UellJl. Borrower shall pay alllmles, assessments, and other charges, fines, and impositions attributable to the Property which may
<br />attain a priorily over this Security InstrumenL. and leasehold payments of ground rents, if any, in the manner provided under paragraph 2 hereof
<br />or, if noL paid in such manner, by Borrower making pa)'ment, 'when due, dir~t1y to the payee thereof. Borrowt.'f shall promptly Curnish Lender
<br />all nolices of amounu due under this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly furnish to
<br />Under receipts evidencing sueh payments. Burrower shall promptly discharge any lien which has priorily over this Security Instrument;
<br />however, Borrower shall nOI be required to discharge any such lien so long as Borrower: (a) shall agree in writing to the payment of the:
<br />obligation secured by such lien in the manner acceptable to Lender; (b) shall in good faith contest such lien by, or defend against enforcement of
<br />such lien in, legal proceedings which in the: opinion of Lender operate to prevent the enfon.:emenl of the lien or forfeiture of the Property or any
<br />pan thereof; or (c:) shall secure from the holder of such lien an agreement in n form satisfactory to lender subordinating such lien Lo !his
<br />Security Instrumenl.
<br />If Lender determines that all or any part of the Property is subject 10 alien whu:h nlBY nUulII a priorilY over tltis Security Instrument,
<br />lender shall give: Borrower n nOlice idL'fltifying such lien. Dorrower !.hall salisfy such liClInr IlIke one or more of the actions set forth ubove
<br />within tcn days orthe giving of tlte notice.
<br />
<br />C. NOTICE
<br />
<br />U.niform C01l~nant 14 uf th~ Security Inslfumenl is amended to read as follow,'
<br />
<br />14, NuUt'C. Except for any nOlke lequired under applicable law 10 be given in anOlller 1II111l11CI, lat ,lilY nllll1.:C 10 Horrower pro1lided for ill Ihi"
<br />"ic:....unty Irntrumcnt dudl be gillen hy delivering il or by mailing it by firsl du...~ mail III UllrrtlWcr al Ih... I'fllp...rl)' Addle'" or ill "uch ulller addrc,,,
<br />Il' Unrrower may de1.lgnale hy nnliee In l.endCI U~ pruvided herein, and Ih) any 11\l11l:C III t C'JIIlrl ~tHIJl he ~l\C'1l hy fil,,1 d""" lTIuillU I.Clld~'r',
<br />I1ddrC\\ \liued hC'tclII UI III \ueh mhl:l addu..", Ii!. Lender may dC'iignate hy n\lIKe' 1(1 nUlIU"el ,I~ prO\lt.1rd herell1_ I\IIY IlUI1Ci. prmldClllllllllltm
<br />Sc1;;UlilY III\trumt"nl ,hllll tJC'Ol:ClIlro 111 IIn....(" heen tuvC'l1lu 1I11lrnwer (lr lender WhCI1I!I\t'l1ltllhr rnnl1l1C'r L1e'l~llalrd herrlll
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