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ADJUSTABLE RATE RIDER (I Year Treuury Index-Rate Caps) 88- 10620~ THIS ADJUSTABLE RATE RIDER 10 madethl. 8th day or November .19--..al!. and !s incorporated into and shall be dtmled to amend and supplement the MartRBlc, Deed of Trust. or Se<:urlty Deed (the "Sewrlty Instrument") of the same date siven by the undersilned (the uBorrowcrn) 10 secure Borrower's Adjwtable Ratc Note (the IINoletl) to ~ FEDERAL SAVINGS I LOAN ASSOCIATION OF GRAND ISLAND. NEBRASKA (the "Lender") or the .ame dale and covering the property described in the Security Instrument and locited at: 1323 Nnrth I-ln",,,r.-t 111,,~1O'. "nnd 151ilnd. NiltJrsEI<a (property Address) ThIs Dote toDtalUS proYlalona aUowlDa for dlaDaes la my laterest nle lad my mODably pllyments. Till. Dole "'0 IImlll tbe amouat my IDtCrst rate caD e:hlnle .t aD, ODe time and also Ibe mIDlmam and Ibe mulmum rate I mUlt pII,. ADDmONAL COVENANTS. In addition 10 the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: . A. . INTEREST RATE AND MONTHLY PAYMEN ~ANGES The Note provides for an initial interest rate of . 0/0. Section 4 of the Note provides for changes in the interest rate and the monthly payments, as follows: 4. INTEREST RATE AND MONTHL Y PA YMENT CHANGES IAI ClIllnp Dales The interest rate I will pay may change on the rirst day of December , 19 ~ , and on that day every tW,elve months thereafter. Each dale on which my interest rate could change is clllled a "Change Date," (8) n. lad.. Beginning with the first ChlU1ge Date, my interest rale will be based on an IndCJt. The "lndCJt" is the weekly average yield on United States Treasury securities adjusted to a constant malurity of J year, as made available by the Federal Reserve Board. The most recent Index figure available as of the date 45 days before each Change Date is called the "Current Index. ,. If the Index is no longer available. the Note Holder will choose a new index which is based upon comparable infonnation. The Nole Holder will give me nouce of this choice. . (C) Cale:uladoa of CbaDgeI Before each Change Date, the Note Holder will calculate my. new interest rate by adding Three & One/half percentage points ( J .8 0J0) to the Current Index and rounding to the nearest 1/8th of l'lo, subject to the limiLS stated in Section 4(0) below. This rounded amount 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 fwlthe principal I am expected to owe on that Change Date in substantially equal paymenL! by the maturity date at my new interest rate. The result of this calculation will be the new amount of my monthly paymenl. (0) UmJta 00 IDtfrat RIlle Cbaoga The interest rate I am required to pay at the first Change Dale will not be greater than 1 :3. 5 Ofo or Ics!l than 9 . 5 lIla. Thereafter. my interesl rate will never be increased or decreased on any single Change Date by more than two percent (2 .0 ) from the: rate of Interest I have been paying for the preceding twelve months. The minimum interest rate on this Joan will never be Jess than 0 n Dfo and the maximum interest ratc will never be greater than 1 6 . 0 %. IE) EIf.dbe Dale or ClIllapl My new interest rate will become effective on each Change Date, I will pay the amount of my new monthly payment beginning on the first monthly payment date afler the Change Dale until the amount of my monthly payment changes again. (F) Nolke of ChaDgel The Note Holder will mail or deliver to mc a notice before each Change Date. The notice will advise me of: (i) the new interesl rate on my loan as of the Change Date: (Ii) the amount of my monthly payment following the Change Date; (Iii) any additional matters which the Note Holder is required to disclose; and (iv) the address of the association you could contact regarding any questions about the adjustment notice. B. CHARGES; LIENS Uniform Covenant 4 of the Security Instrument is amended to read as follows: 4. CbIUJel; UeDI. Borrower shall pay all taxes, 855CS5menLS, and other charges, flnes, and impositions aUributable to the Property which may attain a priority over this Security 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, directly to the payee thereof, Borrower shall promptly furnish Lender all nObces or amounts due under this paragraph, and in the evenl Borrower shall make payment direttly. Borrower shall promptly furriish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which ha5 priority over this Security Instrument; however I Borrower shall not be required to discharge Bny such lien so long as Borrower: (a) shall agree In writing to the payment of the obligation lC\."UJ'ed by such tien in the manner acceptabJe to Lenderj (b) shall in good faith contest such lien by, or defend against enforcement of such lien in. legal procecdi.op which in the opinion of Lender operale to prevent the enforcement of the lien or forfeiture of the Property or any part thereof; or (e) sbal1 S"urc from the hoJder of su..h lien an apecment In a fonn satisfactory 10 Lender subordinating such lien to this Sec:1Irity InsltUmenl. .If Lender determines that all or any pan of the Property iJ subjca to a lien which may attain a priority over this Security Instrument, Lender JbaU'a1ve Borrower a notice Identifying such lien. Borrower shall satisfy such lien or take one or more of the actions seE forth above within ten diys of the givina of the nodce. C. NonCE unJroim Covenant I. of the Security Instrument is amended to rcadas follows: ... Notb. Except for any nOlice required under applicable law to be given in another manner, (a) any nolice to Borrower provided for in thh S<<urlty Instrument .hall be given by dcliverinllt or by mailina it by first cIas.s mail to Borrower at the Property Address or al such othcr address U Borrower 111.11 desi.n.te by nocce to lender as provided herein, and (b) any notice to Lender shall be given by first clan mail 10 Lender'r, addrns 1111ed herein or to such olher addresllH Lender mlY deslJnate by nolice to Borrower as providro herein. Any nolice provided for in lhl~ SrcurilY In5tromml ,hall be deemed 10 have been liven to Borrower or lender when liven in the manner desillDUled hadn