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ADJUSTABLE RATE RIDER (I YelrTreasury Index-RalcC,pl) 106790 88- THISADJUSTABL5RATERIDERbmldClhl. ~d'YDr December .19~, and is Incorporated Inlo and shall be deemed 10 amend and supplement the MOrlSDac, Deed of Tl'U5t. or Security Deed (the "Securlly Instrument") or the amI: date liven by the undersigned (the "Borrower") 10 ~ecurc Dorrower's AdJwtable Rate Note (the IINolell) to ~ FEDERAL SAVlNOS a LOAN A8S0CIAT~ON OF ORAND ISLAND. NEOAA:!KA (the "Lender") of the lame date and coverlo. the property described In the Security Instrument Bnd localed at: 306 North Grece. Grand Island. Nebraska, (Propcny Address) TIdI DOle contaiaa provbloDl .110,,101 for chanin I.. m, laleral rate aad Ill)' montbly pQmeall. Tblt Dotz abo IImlb tbe amounl my IDleml rale can chinle It anyone time and lIIotbe minimum aad tbemulJr.um nte I mUll pi,. ' ADDITIONAL COVENANTS. In addition to the covenants and agreements made In the Security Instrument. Borrower and Lender further covenant and agree as follows: A, INTERFSf RATE AND MONTHLY PAYMENT CHANGES The Note provides for an inltJalinterest rate of ~L- 0/0. Section 4 of the Note provides for changes in the interest rate and the monOdy payments, as follows: 4, INTEREST 1M TE AND MONTHL Y PA YMENT CHANGES (AI CUD" Daleo The inlcreStrale I wiD pay may change on the first day of l:::1nlIRT'Y ,19-80-, and on that day cvery +'hlF! 1 \I~ months thereafter. Each date on which my interest rate could change is called a "Change Date." (81 The lad.. Bealnnina with the first Change Date, my interest rate will be based. on an Index. The "Index" is the weekly average yield on United. Slates Treasury securities adjusted to a constant maturity of 1 year, as made available by the Federal Reserve Board. The most retent Index figure available as of the date 45 days before each Change Date is ca1Ied 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 Jive me notice of this choice. (C) CakoladoD 01 ChaDla Before each Change Date, the Note Holder will calculate-my new interest rate by adding three &: one/half percentagc points I ~ S I/o) to the Current Index and rounding to the nearest 1/8th of 111'/0, subject to the limits Slnted in Section 4(0) below. 1bis rounded amount will be my new interest rate until the next Change Date. The Note Holder wiD then clctermine the amount of the monthly payment Ibat would be sufficient to repay in full the principall am apcctcd. to owc 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 monthly payment. (0) UmllI oa .alera1 Rate emlel The interC5t rate 1 am required to pay at the first Change Date will not be greater than 1 3 . 5 lI'/o or less than 9.5 '10. Thereafter, my int.ercst rate will never be Incrcasedordccreasedon any single Change Date by marc than twn D~T'r.p.nt (? n~ rrom the rate of intcrC3t I have been paying for the preceding twelve months. The minimum interest rate on this loan will never be less than q n Oft and the maximum interest rate will never be greater than 1 Fi n %. (E) Effective Dale of CIwlps My new interest rate will become erfective on each Changc Date. I will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change Date until the amount or my monthly payment changes again. m NodceolCIauaa The Note Holder wiD mail or deliver to me B notice before each Change Date. The notice will advise me of: (I) the new interest rate on my loan as of the Change Date: (il) the amount of my monthly paymenl following the Change Date: (UI) IlIlY additiCtnaJ matters which the Nole Holder is required to disclose; 4lQd (iv) the address of the association you could contact reaarding any qUC!ltions about the adjustment noda:. 8, CHARGES; LIENS Unifonn Covenant 4 of the Security Instrument is amended to read as follows: 4. CharpI; UeIII. Borrower shall pay all taxes. assessments, and other charges, fines, and impositions attributable to the Property which may attain apriority over this Security Instrument, and lcasehold'payments of ground rents, if any, in the manner provided under paragraph 2 hereof or, if not paid In such manner I by Borrower making payment, when due, directly 10 the payee thereof. Borrower shall promptly furnish Lender all notices of amounts due under this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Securily Instrument: however. Borrower shall not be required to discharge any such lien so long as Borrower: (a) shall agree in writing to the payment of the obliaation secured by web lien In the manner acceptable to Lender; (b) shall tn good faith contest such lien by. or defend aeainst enforcement of such lien in, lcpl proceedings which in the opinion of lender operate to prevent the enforcement of the lien or forfeiture of the Property or any prt thereof; Of (c) shalt secure from the holder of such lien an agreement in a fonn satisfactory to Lender subordinating such lien to this Security Instrument. It Lmdcr dctcrmlDC! that all or any part of the Property is subject to a lien which may attain a priority over this So;:urity Instrument. Lender shall aive Borrower a nolice Identifyins such lien. Borrower shall satisfy such lien or lake one or more of the actions set fonh above within 1m daYJ of the Siving of the notice. . c. NanCE Uniform Covenaat 14 of the Scalrily Instrument is amended to read as follows: 14. NoIke. Except for any notice required under applicable law 10 be given in llDother manner. (a) any notice 10 Borrower provided for in Ihis Sccurlty Instrument .hall be liven by deUverinl1t or by maillns it by first cllWi mail to Borrower at the Property Address or at such OIher address as BolTttWCf InIlY desianale by notice to Lender as provided herein. and (b) any notice to Lender shall be: Slvl:n by firsl class mail to Lender's ad4rcsa ltated herdnor to '\uch other address as Lender may des1anale by notice 10 Borrower as provided hell!in. Any nolice providro for in Ihis Security Instrument shall bcdccmed to have been liven 10 Borrower or Lender when gJven in the manner designaled herC'in.