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ADJUSTABLE RATE RIDER 88-106649 (I Yenr Treasury Indca-Rnle Caps) THISADJUSTADLE RATE RIDER I,madethls ~dayor DecerrCer ,19~. and i. incorporaled Inl0 and .tuall be deemed to aml:ftd and supplement the Mortallc, Deed of TruSI, or Security Deed (the "Security JnsmuntDl". of lhc IUllC dale slven by the undcrslped (the "Borrower") to 5eturc Borrower's AdjuJlabtc Rale: Note (the "Notc") 10 ~ FEDE""1- SAVINGS II LOAN ASSOCIATION O~ C!AAND ISLAND. NEBRASKA (the "Lender") of lhe lame date Bnd covcrlns the property dcaaibcd in the Sca1rity Instrument and located at: 118 West 13th Street. Grand Island, Nebraska (properly Address) 'IltiJ note contala proYillODl aDOM. for chain: In my Interest rate aDd DIY IDOIIlhIJ plymeall. Db Dote 1110 IImlll tbe IImou.t m, Interat rale ea_ dulap al aD,. ODe dme mad also" mldmum ud the mulmum nle I mOllI ply. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Securit)' tns~cr1t. Borrower and Lender further covenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGEll The Note providc;j for an initial interest rate of 9.75 lIJa. Section 4 of the Note provides for changes in the intcrc:5t rate and the monlhJy payments. a5 follows: 4. INTEREST RA TE AND MONTHL Y PA YMENT CHANGES (A) CIwlI< Oat.. Theinterestrate I will pay may change on the flTSt day of December . 19~. ami 00 thaldayevery +, "''' l' ,,,, months thereafter. Each date on which my interest rate could change is called a "Change Date. ,. (Ii) n~ IDda Beginning with the first Changc Date, my interest rate will bebascd on an lnda. The "Index" is the weekly 8verageyieJd on UnltedStates Treasury securities adjusted to a constant maturity of 1 year, as made a...ailable by the Federal Reserve Board. The most recent Index figure available as of the date 4S days before c:ach Change Date is called the "Current Index." If the Index is no longer available, the Note Holder win choose a new index which is based upon comparable information. The Note Holder will givemc notice of this choice. (C) c:.IadIdOD of CbaDgcs th ree Before each Change Date. the Note Holder win calculate my new interest rate by adding percentage points r 3.0 Ilfo) to the Current Index and roundins to the nearest 1/8th of 1 CIJa. subject to the limits stated in Section 4(0) beJOW. This rounded. amount will be my new interest rate until thcnat Change Dale. The Note Holder will then determine the amount of the monthly payment that would be: sufficient to repay in run the principal I am apccted 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 amount of my monlhJy payment. (0) UmIta 00 I......llb.. Cbaa&a The intc:rc5t rate 1 am required to pay at the f....rst Change Date will not be greater than 1 1 75 .. or less than 8.0 "10. Thereafter, my interc:5t ratewiUneverbcinc:rcascd or dccreased on any single Change Date by more than hI" pCT't""cT1t l2.0) from the rate ofint.ere511 have been paying for the preceding twelve months. rce~um intereSt rate on this loan will Dever be lessthan 8.0 OJoandthemaximuminterestratewt1)neverbe:grc:at.erthan 1. '11. m Eftecli.ftDaleofOlaqa My new intercsl rate will become effective on each Change Date. I will pay the amount of my new monthly payment beginning on the first monthJy payment date after the Change Date until the amount of my monthly payment changes again. IFl Nolko olCbao&oa The Note Holder will mail or deliver to me a notice before each Change Date. The notice will advise me of: (i) the new int.erest rate on my loan as of the Change Date; (ti) the amount of my monthly payment fonowing the Change Date; (iu) 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 Covcnant 4 of the Securi1y Instrument is amended to read as follows: .c. Clrarpsi IJeas. Bonower shall pay all taxes, assc:ssments. and other charges. fmes. and impositions attributable to the Property which may attain a priority over this Security lnstrumenL. and leasehold payments of ground rents. if any. in the manner provided under paraaraph 2 bereof or. if nOl paid in such manner, by Borrower making payment. when due. directly to the payee thereof. Borrower shall promptly furnish Lender all notices of amouol$ due under this paragraph, and in the evenl Borrower shall make payment directly, Borrower sball promptly furnish to Lender rtedpts cridc:n.ciDJ. such payment5. Borrower shaD promptly discharge any lien which has priority over this Security Instrument; bowever. Borrower shall not be requiral to Qischlflc any 5U!;h lien 50 long as Borrower: (a) shall agree in writing to the payment of the obliption secured by such lien in the manner acceptable to Lender; (b) shall in good faith contest 5uchlien by, or derend against enforcemenl of such lien in. lepl proccedinp which in the opinion of Lender operate to prevent the enforcement of the lien or forfeiture of the Property or any part thereof; or (c) shall secure from the holder of such lien an agreement in a form satisfactory to Lender subordinating such lien to \his Security Instrument. If Lender determines that all or any part of the Property is 5ubjCt:t to a lien which may atlBin a priority over this Security Instrumen~ I...eDdc:r shall give Borrower a notice identifying sucl11ien. Borrower shall satisfy such lien or take one or more of the actions set forth above within ten days of the sivina: of the notice. C. NOnCE U1?form Covenant 14 of the So:urity lnstnlIDeDt is amended to read a5 follows: J4. NoIke. &ccpt for any notice required under applicable law ta be given in another manner, (Ill any nolice to Borrower provided for in this Security Instrument shall be Jiven by deJivcrina It or by mailing It by Hnt class mail 10 Borrower 81 the Property Address Dr al such olher address as Borrower may desiJnale ~ notice to Lmder as provided herein, and (b) any notice 10 Lender shall be given by first class mail 10 Lender'l addreu &lated hc:rcinOf to 5Ue.".l othlS' addr5S iii Lende' may dcsiJllltc by noli~ to Borrowa In provided hen:in. Any notice pro\'ided for in Ihis Security hUlnlmellllhall bt- deemed 10 have been liven to BorrOwer or Lmder when Ki"m in the manner desiJnatC'd hemn