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ADJUSTABLE RATE RIDER 88-106198 (1 Ye.r T....ury Index-R.Ie C.ps-Flxed R.Ie Conversion Oplionl THIS ADJUSTABLE RATE RIDERismadetbis 16th day of November , 19 88 . and is incorporated into and sball be deemed to amend and supplement tbe Mortgage, Deed of Trust or Security Deed (Ibe "Securily Instrument") of the same date given by tbe undersigned (tbe "Borrower") to secure Bnrrower's Adjustable Rate Note (tbe "Note") to Central Mortgage Corporation (the "Lender") of the same date and covering lbe propeny described in lhe Security Instrumenl and localed at: 4080 Cannon Road, Grand Ialand, Nebraska IPropert~ Address} THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE ANO THE MONTHLY PAYMENT. THE NOTE LIMITS THE AMOUNT THE BORROWER'S ADJUSTABLE INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATETHE BORROWER MUST PAY. THE NOTE ALSO CONTAINS THE OPTION TO. CONVERT THE ADJUSTABLE RATE TO A FIXED RATE. ADDITIONAL COVENANTS. In addilion to lhe covenants and agrecments made in the SecurilY lnstrument, Borrower and Lender further covenant and agree as follows: A. ADJUSTABLE RATE AND MONTHLY PAYMENT CHANGES The Note provides for an inilial interest rate of 8. 125 in the adjuslable interesl rate and the monlhly payments, as follows: 4. ADSUSTABLE INTEREST RATE AND MONTHLY PAYMENT CHANGES %. The Note provides for cbanges (AI Cb.nlf DatH The adjustable interest rate I will pay may change on lhe first day of December 19 89 . and on tbat day every 12th monlh thereafter. Each date on which my adjustable interesl rate could change is called a "Change Date." (BI The Ind... Beginning witb the firsl Change Dale, my adjustable interesl rate will be based on an Index. The "Index" is the weekly average yield on Uni[ed States Treasury securities adjusled to a constanl maturity of I year, as made available by the Federal Reserve Board. The most recent Index figure available as of the date 45 days before each Change Dale is called tbe "Current Indcx." If the Index 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 choicc. (C) CaIcnIalIon nf Cblllles Before eacb Cbange Date, the NOle Holder will calculate my new interesl rate by adding two and seventy- five hundredths percentage points ( 2.75 %) to the Currenllndex. The Note Holder will then round the result of this addition tn rhe nea=1 one.eigbth of one percentage point (0.125 %). Subject 10 rhe limits stared in Section 4(0) below, :his rounded amount will be my new interest rate until the nexl Change Date. The Note Holder will then delermine the amount of Ihe monthly payment tbat would be sufficient to repay the unpaid principal that I am expected to owe at tbe Change Date in full on tbe malurity dale al my new interest rale in substantially equal payments. The result of Ihis calculation will be the new amount of my monthly payment. (D) UmIla nn In_I Rale Ch...... The interest rate I am required to pay althe first Change Date wiD not be greater than 10.125 % nr lesslhan 6.125 '!II. Thereafter, my adjustable interesr ratc will never be increased or decrcased on any single Change Dale by more than two percentage points (2.0%) from the rate of inrerest I have been paying for tbe preceding 12 months. My int..rest rale will never be greater than 14. 125 %. which is called tbe .'Maximum Rate". (EI Effective Date of Cb.naa My new interest rate will become effec1ive on each Change Date. l will pay the amount of my new momhly payment beginning on the first mnnlhly payment date after th~ Change Date until tbe amount of my monthly payment changes again. (F) Notice of Cbuaa The Note Holder win deliver or mail to me a notice of an)o' changes in my adjustable interest rate and the amount of my monthly payment berore the effective dale of any change. The noticc will include information rCQuired by law 10 be given me and also the title and telephone number of a person who will answer any qucstion I may have regarding tbe notke. B. nxm INTEREST RATE Oi'TION The Note provides for the Borrower's option to convert from an adjustable interest Tate with interest rate limits to a fIXed interest rale, as follows: 5. nxm INTEREST RATE CONVERSION OPTION (A) Opdoa to eoaYeIl 10 F1aed Rate . I have a Conversion Option that I can exercise unles, I am in default or this Seclion 5(A) will not permit me 10 do so. The "Conversion Option" is my option to convert the interest rate I am required to pay by thi!) Note from an adjustable rate with interest rale limits to the fixed rate calculated under Section S(B) below. The conversion can only lake place on a date{s) specified by the Note Holder during the period bc~inning on the first Chanae Date and ending on the fifth Change Dale. Each date on which my adjustable inleresl rale can COllVer! ;0 lhe new fixed rate is called the "'Conversion Date". __-nlTATI ADJUST..... RATE flIIDEfl-AIIII PLAN ill-Single Familv -.F....... Unltonn In.t"",*,1 ~........ ."1l1 VWYOtnQ.ACU"'OMoIS. .J'J';.;lII1OO. ,NJ(l'!'>1' ,~It. Form 3118 12187