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87-- 1a5142 87 C 44 ADJUSTABLE BATE RIDER (1 Year Treasury Index-Rate Caps) THIS ADJUSTABLE RATE RIDER is made this 21st deyof August 19_87 and is incorporated into and *ball be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security ^) of the Hats given by the undersigned (the "Borrower ") to secure Borrower's Adjustable Rate Note (the "Note ") to 11W MWK M1fM B LOAN ABAOCIATIbN'OF GRAND ISLAND NEORASU (the "Lender') of the same data and covering the property described In the Socurity Instrument and located at: 404 Woodland Drive, Grand Island, Nebraska 68801 (Property Address) Tbk nook eomwm provWoaa Mowing for change* Is my harm raw Will any Mutt payments. This; soft also units the soma# my Interest role can caaage at any one dw and Sae tae ohdstaw and the sandsoum raft I sit pay. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. INTERIW RATE AND MONTHLY PAYMI�4YHANGES The Note provers for an initial interest rate of �i. Section 4 of the Note provides for changes in the interest rate and the monthly payments, as follows: 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Data The interest rate 1 will pay may change on the first day of ''< emh e_ 19 86 and on that day every Tuts 1 ore (1 2) months thereafter. Each date on which my interest rate could change is called a "Change Date." (a) The Index Beginning with the first Change fate, my interest rate will be based on an Index. The "Index" is the weekly average yield on United States Treasury securities adjusted to a constant maturity of 1 year, as made available by the Federal Reserve Board. The most.recem 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 information. The Note Holder will give the notice of this choice. (C) Calcuallon of Chattgea Before each Change Date, the Note Holder will calculate my new interest rate by adding Three percentage Points ( j 9.) to the Current Index and rounding to the nearest I /gth of 19e, subject to the limits stated in Section 4(D) below. This rounded amount will be my new interest rate until the nett Change Date. The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay in full the principal 1 am expected 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 monthly payment. (D) Lhv t on palest Raw Chasga The interest rate I am required to pay at the first Change fate will not be eater than 12.5 % or less than R -S X XX xX XX XStaiarx minimum interest rate on this loan will never be less than R _ 5 % and the maximum interest rate will never be greater than 12.5 yy, tt (E) Bffeed" Date of Changes My new interest rate will become effective on each Change fate. I will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change fate until the amount of my monthly payment changes again. (F) Notate of Chaste The Note Holder will mail or deliver to me a notice before each Change Date. The notice will advise me of: (i) the new interest rue on my loan as of the Change Date; (If) 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. R. CHARGES; LIENS Uniform Covenant 4 of the Security Instrument is amended to read as follows: 4. Charges; Lien. Borrower shall pay all taxes, assessments, and other charges, fines, and impositions attributable 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 !hr 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 Leader receipts evkkmdng such payments. Borrower shall promptly discharge any lien which has priority over this Security 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 obligation secured by such lien in the manner acceptable to Leader; (b) shall in good faith contest such lien by, or defend against enforcement of each Ben in, legal proceedings which in the opinion of Lender operate to prevent the enforcement of the lien or forfeiture of the Property or any put thereof; or (c) shall lure from the holder of such lien an agreement in a form satisfactory to Lender subordinating such lien to this Sapaity Instrument. If Lender determines that all or any part of the Property is subject to a lien which may attain a priority over this Security instrument, Lauder shall give Borrower a notice identifying such lien. Borrower shall satisfy such lien or take one or more of the actions set forth above within ten rays of the giving of the notice. C NOTICE Uniform Covenant 14 of the Security Instrument is amended to read as follows: M NOM. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in this Security 1 be given by delivering it or by mallittg it by first class trail to Borrower at the Property Address or at such other address a Borrower may designate by entice to (.ender as provided herein, and (b) any notice to Lender shall be given by first class mail to Lender's address stated!•arein or to such wher address as fender may designate by notice to Borrower as provided herein. Any notice provided for in this Security ImAr ament shall be deemed to have ban given to Borrower or Lender when given in the manner dmignated herein. s<