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ADJUSTABLE RATE RIDER CIYmT,ea,urylndeJI.R.,eC.p.) 88- 106620 THISADJUSTADLBR^TBRIDBRimmadethls --28-daynf Nm/embef' 119~, and II incorporated inlo and ahall be deemed to amend and supplement the MortgDSC, Deed of Trust, Of Security Deed (the "Security Inslrument") or tbe 1&l11C! date &lven by the undcnlaned (the "Borrower") 10 ~ec:ure Borrower's Adjustable Rltc NolO (the "Note") to HOME FEDERAL SAVlNOS .. LOAN ASSOCIATION OF ORAND ISLAND. NEBRASKA (.he "Lender") of the .ome date and coverinl'he property described in the Securl1y Instrument and l"C1ted at: 1104 E. Bismark, Grand Island, Nabraska (Properly Address) Tb.lI Dole coatalDl prorillODl .00"'" lor wages In my Interesl rate lad my moatlal,. parmeall. Tbls Dole alia lIm1l1 tbe Imoaal mJ lateral ralt can cblnle at I., ODe dme Ind also tbe mlalmam and the mulmum nile I masl pI'. ADDiTIONAL COVENANTS. In odditioln to the covenants and agreements made in the Security Instrument, Borrower Bnd Lender further covenant and agree as folloW!: A, INTEREST IlJ\TE AND MONTHLY I'AYMENT CHANGES The Nol~ provIdes for IlD initlallnteresl rate of 11.5 Ill". Section 4 of the Note provides for changes in the interest rate and the monthly payments, as follows: 4. INTEREST RA TE AND MONTHLY PA YMENT CHANGES (A) Cboaae Do,.. The interest rate I will pay may change on the first day of ]RnllArv , 19~, and on that day every tw~l "iI months Ihereafter. Each date on which my interest rate could change is called 8 "Change Dale." (B) Tbe Ind.. Beginning with the fmt Change Date, my interest rate will be based on an Index. The Illndex" is the weekly average yic:1d on United States 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 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 Note Holder will give me notice of this choice. (C) c.J....Uoo of CIuula" Before each Chanae Date. the Note Holder will calculate my new interest rate by adding Thrpp &. nnp!hR 1 f percentage points r J ~ a "') to the Current Index and rounding tei the nearest 1/8th of IO/a, subject to the limits stated in Section 4(0) below. Thil rounded amount will be my new interest rate: until tl)e: next Change Date. The: Narc Holder will then determine the amount of the monthiy payme:nt that would be sufficient to repay in full the principal I am e:X-peeled to owe: on that Change Date in substantially equal payments by the maturity date at my new interest rate. The result of this calculation will be: the new Bmount of my monthly payment. CD) Umlll ..I.ter...."'te CIuula.. The interest rate: I am required to pay at the first Chunge Date will not be greater than 1 7, ~ " or less than g. 5 cv.. Thereafter. my interest rate will never be increased or decreased an any single Change Date by more than ,f-, 'g f2gr,;:gnt l:l. U ) from Ihe rate of interest I have been paying for the preceding twelve months. The minimum Interest rale on this loan will never be less than 9.0 lITo and the maximum interest rate will never be greater than 16.0 0'/1. (E) Eflec:dn n.le of Cbanges 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) Nolkc of Cbaala The Note Holder will mall or deliver to me a notice before each Change Date. The notice wiD advise me of: (i) the new interest rate on my loan as of the Change Dalej (ii) the: amount of my monthly payment following the Change Datei (Iii) any additional matters which the Note Holder is required to disclosei and (tv) the address of the association you could contact regarding any questions about the adjustment notice. B. CHARGES, UENS Uniform Covenant 4 of the Security Instroment is amended to read as follows: 4. CbarJeI; UCIUI, Borrower shall pay all taxes, assessments, and other charges, fines, and impositions attributable to the Properly 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 notices of amounts C:ue under this paragraph. and in the event Borrower shall make payment directly. Borrower shall promptly fum1sh to Lender receipts evidencing such payments. Harrower shall promptly discharge any lien which has priority over this Security Instrument: however. Borrower shall not be required to discharge any such lie:n sa lona as Borrower: (a) shall agree in wrilina to the payment of the obligation secured by such lien in the manner acceptable to Lender; (b) shall in good. faith contest such lien by, or defc:nd qalnst enforcement of Iiuch lieD Int legal proceedings which in the opinion of Lender operate to prevent the enforcement of lhe lien or forfeiture of the: Property or any pan thereof; or (c) shall secure from the holder of such lien an agreemenl in a form satisfactory to Lender subordinatina luch lien to this Security lnllrumenl. If Lender determines thin all or any part of the Property is subject to a lien which may attain a priority over Ihis Security Instrument, Lender lballlivc Borrower a notice ldenUfyiDl 5uch lien. Borrower shall satisfy 5uch lien or take: one or more of the actioM set forth above wilhin ten ell)'! of the Bivinl of the notice, Co NonCE U~lronn Covenant 14 of the: Security Instrument il amended to read 15 follows: 14. NDIIr:r. Except ror any notice required under applicable law 10 be Biven in another manner, (a) any notice to Borrower provided for In this Secu.:hy InalrUmcnt IhalI be: given by delivering it or by maiJins it by first class mail to Borrower al the Property Address 01 at such other addr~ .. Borrower mly deaianale by notice 10 Lender 15 provided herein. and Ib) any nOlice 10 Le:nder shall be: &lven by first cia! man 10 Lender's addreu ul.ted hudn Of 10 IUch other address u Lender may dc:sisnale by notice to Borrower L!I provided herein. Any notice provided for In this Sa:urity Imnumalt IhaJI be-deanc:d to have bem liven to Borrowr:r or Lender when liven in Ihe manner des1analc:d herein.