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<br />Re-record to show change on first rate 'c~ang~ date and initial index figure,
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<br />RE'RECORDE'88_106853 88- 10341E
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<br />AnJUSTABLE RATE RIDER
<br />(1 Year Treasury Index-Rn.e Cups-Fixed Rale Cony....lon Oplion)
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<br />THIS ADJUSTABLE RATE RIDER Is made Ihi. . ~.~~~"" day of,..." J.une""""... 198.&",',.0 and Is
<br />Incorporated inlo and shall b. d..med to amend and suppl.m.nt the Mortgage, De.d of nust or S.curllY De.d
<br />(the "Security Instrument") of the Silme date given by the undersigned {the IlBarrower")tosecure Borrower'sAdjustabJe
<br />Rat. Not. (th. "Note") to ,blorwest. l\ank. NebrIlJl~a., N'I~~p,l1'1l, ~!\'19F~,qt~!'P."",..."""".."",
<br />. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (the "Lenderll) of the same date Bnd covering the propeny described in
<br />the Seturiry Instrument and located at:
<br />
<br />!,~~ ,:-'~.s,~ .~:',~~7!,~~~~?, ,~~~:,,~~~, ~,,:~:~:,,~~, ~~,~~~"...,"",."..,"",.".."."..,',.,""',.
<br />
<br />(Propeny Address)
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<br />THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND
<br />THE MONTHLY PAYMENT, THE NOTE LIMITS THE AMOUNT THE BORROWER'S ADJUSTABLE
<br />INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE THE BORROWER
<br />MUST PAY. THE NOTE ALSO CONTAINS THE OPTION TO CONVERT THE ADJUSTABLE RATE
<br />TO A FIXED RATE,
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<br />AODmONALCOVENANTS. In addition to the covenants and agreements made in the: Security Instrument, Borrower
<br />and Lender further covenant and agree 85 follows:
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<br />A, AWUSTABLE RATE AND MONTHLY PAYMENT CHANGES
<br />The Note provides for an initial interest rate of ..7...50.. lIlo. The Note provides for changes in the adjustable
<br />interest rate and the monthly payments, as follows:
<br />
<br />4. AWUSTABLE INTEREST RATE AND MONTHLY PAYMENT CHANGES Iv V /J J iI-
<br />(A) Change Dales OCTO BE,;:, 0' .
<br />Th. adjustable interest rate I will pay may chang. on the fim day of."~.,.,."..,.,, '0 ]9 ~~""""
<br />and on that day..ery 12 months thereafter. Each date on which my adjustable im.rest rat. could change Is call.d a
<br />UChange Dai~'
<br />(8) The Index"
<br />Beginning with the fll'St Change Date,. my adjustable interest rate wUl be based on an Index. The "[ndex" is the
<br />weekly average yield on United States Treasury securities adjusted to a constant maturity of I year, as made available
<br />by the F.deral Reserv. Board, Th. most recent Index figure ayailabl. as of the date 45 days before each Change Oat.
<br />is called the "Current Index:'
<br />If the Index is no longer available, the Note Hold.r will choose a n.w index which Is based upon comparabl.
<br />information, The Note Holder will give me notic. of this choice.
<br />(C) Calculalion of Changes
<br />Before each Change Date, the Note Holder will calculate my new interest rate by adding't\79..Eo . 'rJlF,~~. 9!'.,!,ters
<br />pcn:entage points (, ,;:, 7~.,. "oJ [0 the Current Index. The Not. Holder wiD then round the result of this addition
<br />to the nearest one-eighth of on. pere.ntage point (0,125'7.). Subject to the limits stated in Section 4{D) below, this rounded
<br />amount will b. my new interest rat. until the next Change Date.
<br />The Note Holder will then determine the amount of Ihe monthly payment that would be sufficient to repay the
<br />unpaid principal that I am expected to ow. at the Change Date in full on the maturity date at my new interest rat. in
<br />substantially equlli payments, The result of this calculation will be th.ol.lew amount of my monthly payment,
<br />(0) LImits on Inleresl Rate Changes
<br />The interest rate I am required to pay at the first Chang. Date will not be greater than .9"50.,, ,'7. or I.ss
<br />than . ,5 . ~P. , ,%. Thereafter, my adjustable int.rest rate will n.Yer be increased or decreased on any singl. Change Date
<br />by more than Iwo percentage points (2,0%) from the rat. of interest I haye been paying for the preceding 12 months,
<br />My interest rate will never be greater than .I.~t ?,Q. .0/0, which is called the llMaximum Rat~1
<br />(E) Effective Date of Changes
<br />My new interest rate will become effective on each Chnage Date. 1 will pay the amount of my new monthly payment
<br />beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again.
<br />(F) Notice or Changes
<br />The Note Holder will deliver or mail to me a notice of any changes in my adjustable interest rate and the amount
<br />of my monthly payment before t.he effective date of any change. The notice will include information required by law
<br />to be given me and also the title and telephone number of a person who will answer any question] may have regarding
<br />the notice.
<br />
<br />B. FIXED INTEREST RATE OPTION
<br />The Notice provides for the Borrower's option 10 convert form any adjustable interest rate with interest rate limits
<br />to a ("axed interest rate" as follows:
<br />
<br />5. FIXED INTEREST RATE CONVERSION OPTION
<br />(A) Opllon 10 COnyerl 10 FIXed Rale
<br />I have: a Conversion Option that 1 can exercise unless I am in default or this Seedon SeA) will nOl permit
<br />me to do so. The uConversion Option" is my option to convert the interest rate I am required to pay by this Note from
<br />an adjustable rate with interest rate limits to the fO<ed rate calculat.d und.r S.ction 5(B) b.low:
<br />
<br />The conve...ion can only take place during the p.riod b.ginning 30 days b.fore th. first Chang. Oat. and ending
<br />. 15 days b.fore the fifth Chang. Date. Each date on which my adjustabl. int.rest rate can conyert to Ihe new fix.d r"ft
<br />Is called lhe ..Cony....ion Dat.... ?:.=& vJlv \"l jl.,J ~
<br />T':-Iril- .4
<br />--The Index figure available as of the date the initial interest rate was delcrmincd for this loan was. :7:ow:~~. ltJo" .
<br />1lUl1tSTATE. ADJUSWlLE RoVE RlDER-ARM PlAN 57-Slnglo Famlly-F.nnie May Uniform Instrumenl }o'cnm )118 12/87
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<br />III ra.o..ra (JA-Qm,
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