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ADJUSTABLE RATE RIDER 86-- 100543 i I Year Treasr hiiex —hate Cars THIS ADJUSTABLE RATE RIDER is made this 3-list... day of ._ Jet#+ ATY--- ----_-._............, 19$6-.-- -• and is incorporated into and shail be deemed to amend and suppiemcni the Mortgage, Deed of Trust or Security Dead (the Security Inarumem") of the same date given by the undersigned ( the -Borrower') to secure Borrower's Adastsble Rate Note {the "Note") t...._. Oc •cidentai /Nebraska..F.ederal._. Savings.. Sank....--..--- - °._- --.._.._...._.------ .--_ -- _ ..................... ._... .............................. i the - Lender"1 of the same date and ccavring the property described is the Security instrument and located at: i?szk..S- -2023. --v1_. Waugh -------- .......... ....NE .... ..... 58801. ................... .... ,Ptop+ tr Adr. --., TIE MOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE 114TEREST BATE AM) THE MONTMLY PAYNENT. THE NOTE LIMIT'S THE AMOUNT TM BORRCVMrS RtITE F ST RATE CAN CHAMGE AT ANY ONE TIME AM THE IMAXM1A M RATE THE DOW ROWER MUST PAY. 7+owno4 ♦r.Co-.F14Nf _S. In addition io the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A INTEREST RATE AND MONTHLY PAYMENT CHANCES The Note provides for an iniwi i interest rate of _8...Z30._. '7_ The Note provides for changes in the interest rate and the monthly payments, as follows: 4. INTEREST RATE AND MONTHLY PAVNI[ENT CHANGES (A ) Clattte Dates The interest rate I will pay may change on the first day of -F ebruar3r _.__. ----- ...... i.._..._., i9- g7..., and on that day every lads month t'tercafter Each date on which my interest rate could change is called a -Change Date-- ( E) The Ilex Beginning with the first Change Date. my interest rate will be based on an Index_ The - Index- is the weekly average }weld 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 Nvie Holder will choose a new index which is based upon comparable information. The Noie Holder will give me notice of this choice - (C i C"aicratioa of C ks"es Before each Change Hate, the Noic Holder will calculate my new interest rate by adding Tl?o....and.- ThreE_, ..faurxhs-_..._.__- - - - -_- percentage points ( ... '2..750. -_`%) to the Current Index. The Note Holder will then round the result of this addition to the nearest one - eighth of one percentage point ({l.1 25`7 ) . 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 I am expected to owc ai the Change Date m full on the maturity date at sny, new interest rate in substantially equal payments. The result of this calculation will be the new amount of m} monthly payment (Dl Lianits an lwttre -A Rate klasMes The interest rate I am required to pay at the first Change Date will not be greater than . .1Q...7"_ or less than 5_75Q..._... Thereafter. my interest rate rill never be increased or decreased on any single Change Date by more than two Percentage points i'_.0`%) from the rate of interest I ha.e been paying for the preceding twelve months. My interest rate will never be greater than 13_751). ...... . K. (£) Efiectire 'Date of Changes My new interest rate will become effective on each Change Date. I w ill pay the amount of my new monthly paymcnl beginning on the first monthly payment date after the Change Datc until the amount of my monthly payment changes again. (F) Notice of Ganges The Note Holder will deliver or mail to me a notice of any changes in my interest rate and the amount of my monihly payment before the effective date o; any change. The notice -Ail] include information required by law 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. !d. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN' BORROWER Uniform Covenant 17 of the Security Instrument is amended to read as follows: T'ram6 r of fie Prrperty or a Beweficial lwterem in Borrower. If all or am part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold m transferred and Borrower is not a natural Person) without Lender's prior written consent, Lender may. at its option. rcqutre immediate payment to full of all sums secured by this Security Instrument Howcvcr, 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 Lender to evaluate the intended iransfertc as if a new loan were being made to fire transfercc; and ib) Lender reasonably determines that Lender', 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 Lender. MMTISTATE ADJUSTABLE LUTE fI M —Asset 5-2 —' ,r j- � ., , ;- -Farrm Mae Freddie Mac Umlorm Imtrumeni Form 3111 3 85 Ml