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ADJUSTABLE RATE RIDER 1052.310 r ),. 0 Year Treasury Index -Rate Caps) 87- THIS ADJUSTABLE RATE RIDER ismadethis 1st day of September 19 (i7 and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument ") of the same date given by the undersigned (the "Borrower ") to secure Borrower's Adjustable Rate Note (the "Note ") to H, Q,MFi NNGB A LOAN ASSOCIATION OF GRAND ISLAND NEBRASKA (the "Lender ") of the same date and covering the property daurlbed in the Security Instrument and located at: 2724 West John Street Grand Island, Nebraska (Property Address) This sole canisla lartastsintat sNowfK for chtttallia in my interval rate sad my monody isisyments. This sole abe Ne fu the amount my interest raft can change at any one am sad ado the midmam sod the stoadmam raft I must pay. ADDITIONAL COVENANTS. In addition to thetovenants and agreements made in the Security instrument, Borrower and Lender further covenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of 9.5 9s. 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 Dan The interest rate I will pay may change on the first day of SBntember 19 88 , and on that day every twelve months thereafter. Each date on which my interest rate could change is called a "Change Date." (8) The Index Beginning with the first Change Date, 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 i year, as made available by the Federal Reserve Board. The most recent Index figure available at 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 me notice of this choice. (C) Caktistfon of Chasm Before each Change Date, the Note Holder will calculate my new interest rate by adding Three percentage points ( 3 9s) to the Current Index and rounding to the nearest 1 /8th of I %, subject to the limits stated in Section 4(D) below. This rounded amount will be my new interest rate until the next Change Date. The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay in full the principal I 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) Limos os Interest Role Changes The interest rate I am required tc " ^""""^ %IA9tIN1ftRNAIfIgVIJ6N>R1118id1 The minimum interest rate on this loan will never be less than 8.5 % and the maximum interest rate will never be greater than 14.5 9e. (E) Effective Date of Change My new interest rate will become effective on each Change Date. 1 will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again. (E) Notice of Clisusiles 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 rate on my loan as of the Change Date; (6) the amount of my monthly payment following the Change Date; (its) 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. II. CHARGES; LIENS Uniform Covenant 4 of the Security Instrument is amended to read as follows: 4. Charges; Lfeas. 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 no paid in such manner, by Borrower making payment, when due, directly to 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 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 obligates secured by such lien in the manner acceptable to Lender; (b) shall in good faith contest such lien by, or defend against enforcement of such lien in, legal proceedings 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 this Security 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, Lender 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 days of the giving of the notice. C. NCII7CE Uniform Covenant 14 of the Security Instrument is amended to read as follows: 14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail to Borrower at the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and (b) any notice to Lender shall be given by first class mail to Lender's address stated herein or to such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. ...