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88- 10594~ ADJUSTABLE RATE RIDER (I YcarTrcasury Index.Kate Caps) THISADJUSTADLE RATE RIDER i!o made lhls ~dayof NDvember .19~. and is incorporated inlo and sho.ll be deemed to amend Bnd supplemenl the Morlgage, Deed of Trust, or Security Deed Uhc lIS<<urll)' Instrument". or the snme date slven by the undersigned (lhi: IOBorrower") 10 secure Borrower's Adjustable Rate Note (the "Note") to ~ FEDERAL SAVINGS & LOAN ASSOCIATION OF GRAND ISLAND. NEBRASKA (the "Lender") or the same date and covering the property described in the Security Instrument ond localed al: 1005 West Koenig. Grand Is land. Nebraska (ProperlY Addrcss) Thb Dote contalDJ proVWODl allowlol for chlnles fa my Inlel'tSl rate Ind my montbly p"ymcnts. This no Ie also IImlll the amount my Inleml nIt' can change at anyone time and also tbe minimum and the I1UIXImum ralc I mual pay. ADDITIONAL COVENANTS. In addition to Ihe covenants and agr~ments made in Ihe Security Instrument, Borrower and Lender further covenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Nole provides for an initial interesl rate of %. ~tion 4 of Ihe Note provides for changes in the interest rate and the monthly payments, as follows: .. INTEREST RA TE AND MONTHL Y P.4 I'MENT CHANGES lit.) Change nates The interest rate I will pay may change on the first day of December ,19~. and on that day every th.E' 1 "e months thereafter. Each date on which my inlerest rate could change is called a "Change Date." (8) The Index Beginning with the fim Change Date, my interest rate will be based on an Index. The "[ndex" is Ihe weekly average yield on United States Treasury securities adjusted to a conslant maturity of I year, as made avnilable by the Federal Reserve Board. The most recent Jndex figurr: avnilableas of the dale4S days before each Change Date is called the "Current Index." J( the Inde:J. is no longer available, the Note Holder will choose a new index which is based upon comparable information. The Note Holder will give me notice of this choice. (C) Calc:uladon or Clulogell Before each Change Dale,the Note Holder will calculate my new intere:;t rate by adding tllln & One/half percentage points ( '? S '10) 10 the Current Index and rounding to the nearest I/Bth of 1'10, subject to the limits stated in Section 4(0) below. This rounded amounl will be my new interest rate until the next Change Date. The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay in rul1the principal I am expected to owe on that Change Date in substantially equal payments by the maturity date at my new intercst rate. The rcsull of this calculation will be the new amount of my monthly payment. CO) UmllI on Inleml Halt Changes The Interest rate I am required to pay at the first Change Date will not be greater than 1 0 a 7S '10 fr les~~~aC' t ? nero. Thereafler, my Interest rale wlllnevcr be increased or decreased on any single Change Date by more Ihan \LID en ~? n~ from the rate of interestl have been paying for the preceding twelve monlhs. The m~imum inlerest rale on Ihls loan wi1l never be less than 7 0 0J0 and the maximum imerest rale will never be grealer than 1 3 a 7 '10. (E) Err~dl"e Ihle or ehaaKa My new inlerest rate will become effective on each Change Date. I will pay the amounl of my new monthly payment beginning on the first monlhly paymenl dale after the Change Date until the amount of my monthly payment changes again. (F) NodCf of Chanin The Note Holder will mail or deliver to me a notice before each Change Date. The notice will advise me of: (I) the new inlerest rate on my loan as of the Change Date; (ill the amounl of my monthly payment following the Change Date: (ii1) any additional matters whioh Ihe Note Holder is required to disclose; and (iv) the addrcss of Ihe association you could contact regarding any qucslions about the adjustment nolice. B. CHARGFS; LIENS Uniform Covenanl4 of the Security Instrumenl is amended to read as follows: .. Cbarzes: UtDI. Borrower shall pay all taxes, assessments, and other charges, fines, and impositions attributable to Ihe Propeny which may attain a priority over this SecurilY 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 payment, .when due, dlrecUy to the payee thereof. Brrrower shall prompUy furnish Lender all notices of amounts due under this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly furnish 10 Lender receipts evidencing such payments. Uorrower shall promptly discharge any lien which has priority over this SecurilY Inslrument; however, Borrower ,hall not b~ required to dischllfge any such Ii~n 50 long a.~ narrower: (a) shall agree In wriling 10 Ihe paymenl of the obligation secured by such lien in the manner acceptable to Lender; (b) shall in good failh contest such lien by, or defend against enforcement of such lien in. legal proceedings which in the opinion of lender operate 10 prevent the enforcement of Ihe lien or forfeiture of the Property or any part thereof; or (c) shall secur~ from Ihe holder of such lien an agreement in a form satisfactory to lender subordinating such lien 10 1I11s Security Instrument. If Lender dctermlnes lhat all or any part of the Property Is subject to a lien which may allain a priority over this Security Instrument, L.ender shall give Borrower 0 notice identifying 5uch lien. Borrower shall satisfy such lien or lake one or more of the actions set forth above within len days or the giving of the notice. c. NanCE Uniform Covenant 14 of the S<<urilY Instrumenl is amended 10 read as follows: I.. NoUa. Excepl for any notice required under applicable law to ~ given In another mllnner, (a) any notice to Borrower provided fur in Ihi.~ Security Inslrumentshall be given by delivering it or by moiliog it by firsl class maUlo Borrower ollhc Properly Address t'r 01 .~uch olher l1ddrcs~ lIS Borrower may designate by notice 10 lender as provided herein, and (b) any notice 10 lend~r ~hllll be given by firsl class mDlllo I elldcr'~ addrolltatcd hercin ur to luch otlll:r add,cs\ 0\ L~ndcr may dcsianatc by nolice to Borrower as pfOvll.1L'd her~lII. Any lltllke provldL'd fOI illlhl\ Sa:uril)' Inslrumenl ,hatl he L1eemCf.11tl ha\(' hccn gIVen 10 Borrower or Lender when gillco in the' manner deMMlIalcd herein