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Q °USTABLE RATE IUDER U7�"` 8 f l„ '♦!" (I Year Treaury index-11t eCaps) THIS ADJUSTABLE RATE RIMR Is i this 25th day of � � Saptefter � , 19 87 r and is ' into and ahtdl be doernued to singand and supithowisint the Mortgage, Dud of Trust, or Ssairity Dead (the "Sawity 1 ••) of the none doft lilven by the undersigned (the "Borrower ") to secure Ilttrrowor's Adjustable Rate Nutt (the "Nola ") to MMRAOKA (the "Lender ") *(the same daft and covering The in`rhe Security i cad kmtgsted at: 2121 West Louise,, Grand Islands Nebraska 618803 (Property Address) _ - TYM Lett" aagHs plevimim allowing for digit" to gay IsAffest rage OW or tnonWf Paintings. This PM Idea Nm* On ttmannt my Interest rah can change at any som dw and slier Mee uMahatnw lull de ■ntthenoo rah I moo pay. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower stud [.ender further covenant and agree as follows: A. INTERFM RATE AND MONTHLY PAYMENT CHANGES The Nog provides for an initial interest rate of B. 5 7a, Section 4 of the Note provides for changes in the interest tale and the payments, as follows: 4. INTEREST RATE AND MONTHL Y PA YMENT CHANGES (A) Ciliates Dow The interest rate I will pay may change on the first day of October 19 BB , and on that day every twelve months thereafter. Each date on which my interest rate could change is called a "Change Date," (s) The iade:t Beginning with the rust 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 avail" 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 ere notice of this choice. (C) Calesslatla of Chaya Before each Change Date, the Note Holder will calculate my new interest rate by adding two & one/half percentage pants ( �� ry Ms) to the Current Index and rounding to the nearest I /Sth of I e/s, 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) Lkeft o low as Rah Chaps tt�tercet rate I am required to pay at the first Change fate will not be grater than i 3.5 tAr less an • u 7u. Thereafter, my interest rate will aver be increased or decreased on any single Change Date by more than g` WD Ul from the rate of interest I have been paying for the preceding twelve months. The minimum interest rate on this ban will never be less than Z . n % and the maximum interest rate will never be grater than 13.5 (9) Eff ell" I>isle e(Chagat My new interest rah will become effective on each Change 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 of my monthly payment changes again. (F) Notice of Chapes The Note Haider 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; (ii) 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. S. CHARGEM, LIENS Uniform Covenant 4 of the Security Instrument is amended to read as follows: 4• ChtreBea; [Jas, Borrower shall pay all taxes, awessments, and other charges, fires, and impositions attributable to the Property which may atain 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 is such massed, by Borrower making payment, when due, directly to the payee thereof. Borrower shall promptly furnish Lender all notim of smarms due under this paragraph, and in the event Borrower :hall make payment directly, Borrower shall promptly furnish to Leader reoelpts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument; holeevar, Borrower snap not be required to discharge any such lien so long as Borrower: (a) shall agree in writing to the payment of the obligation cured by such lien in the manner acceptable to Lender; (b) shalt in good faith contest such lien by, or defend against enforcement of such dent ice, legal proceedings which in the minion of Lender operate to prevent the enforcement of the lien or forfeiture of the Property of any part thereof; or (c) shall secure from the holler of such lien an agreement in a form satisfactory to Lender subordinating such lien to this latrumem. If Leader diftermisses the an or any part of the Property is subject to a lien which may attain a priority over this Security Instrument, Leader 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. NOTICE Uniform t l4 of the Security instrument is amandel to real as follows: 14. ' for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided tot in this Security I be given by delivering it Of by mailing it by first class mail to Borrower at the Property Address or at such other address N toy designate by notice to Lender a provided herein, and (b) any notice u) Lender shall he given by first class mail to Lcruier's sd*m stated mein Of to such other address as Lander may designate by notice to Borrower m provided herein. Any notice provided for in this Security Ift"Mman seal( be dermod to have bean given to grower of Lender when given in the manner designated herein.