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ADWSTABLE RATE RIDER 81 105736 0 Wair Tress lry In rn —Ram Cap) THIS ADJUSTABLE RATE RIDER is tole this ,.2�., day of . I/epte�or.,..... 87 incorvarated into and shall be to a nd and suppleragrit the Mortgage, Dead of Trust or Stscurity David (the "Sewity Instrument") of the Rate Now (the "Noe ") to.....................................................T 4.. ' tq t a t 8 .n.'i ,i uro. rotrar's Ad)ustal4 t ............................................................... ( the 'Lender") of the same date and covering the property described in the Selawrity Instrument and located at: 4067 David Avenue, Grand Island , Nebraska 68803 .................................... ................. .................Pra.enyI - -,... �........,.......................,................ ............................... THE HOTS CONTAM PROV1611M ALLOWVW FOR CHANWS IN THE WTgMT RATE AND THE MONTHLY PA"WIT. THE NOTE LWS THE AMOUNT THE 1110111111110INW8 MITEREST RATE CM CHAMRA AT ANY ONE TM AM THE MAMM<IM RATE THE SM 1110WER MUST PAY. ADWTWNAr. Cov rNANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Leader further covenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of ...T . $75....%,. The Note provides for changes in the interest rate and the monthly paymems. as follows: 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The interest rate I will pay may change on the first day of .. January 19... g9., and on that day every 12th month thereafter. Each date on which my interest rate could change is called a "Change Date." ($) 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 1 year, as made available by the Federal Reserve Board. The most recent 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 me notice of this choice. (C) Cakwatiat of Clnwgn Before each Change Date, the Note Holder will calculate my new interest rate by adding two. and one ............half ............... percentage points (..2.5......... %) to the Current Index. The Note Holder will then round the result of this addition to the nearest one- eighth of one percentage point (0.125%). 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 the unpaid principal that 1 am expected to owe at the Change Date in full on the maturity date at my new interest rate in substantially equal payments. The result of this calculation will be the new amount of my monthly payment. (D) Lkwia on Interest Rate Changes The interest rate I am required to pay at the first Change Date will not be greater than9.,.615 .................% or less than 5.325.......... %. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than two percentage points (2.0%) from the rate of interest 1 have been paying for the preceding twelve months. My interest rate will never be greater than 1.3- 87.5. ..... -%. (E) Effective Date of C ages 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 ttte amount of my monthly payment changes again. i F) Notice of Cha m The Note Holder will deliver or mail to me a notice of any changes in my interest rate and theamount of my monthly payment before the effective date of any change. The notice will include information required bylaw to be given me and also the title and telephone number of a person who will answer any question I may have regarding the notice. B. TRANSFER OF THE PROPERTY OR A BENEFIIC1AL INTEREST IN BORROWER Uniform Covenant 17 of the Security Instrument is amended to read as follows: Tratader of ttte Pro'erry or s Beneacial 4uerest is Barrowt:. If all or any part of the Property or any interest in it is std or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent. Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. Lender also shall not exercise this option if: (a) Borrower causes to be submitted to Lender information required by Leader to evaluate the intended transferee as if a new loan were being made to the transferee; and (b) Lender reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of a breach of any covenant or agreement in this Security Instrument is acceptable to Leader, "The Index figure available as 01 the date The initial intereal rate was dcwimined fix this loan Kati ..6..27. .......... .to TfNAT41a71 ADMUSLI RATE n-sAft 54 ;* + ivy ,,—FwwNo On irod6a Mec Undarttt Instrument roam 3111 J 85 ec.,•t,'. =10,: -, wre n. _.._.,