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ADJUSTABLE RATE RIDER 86- 101656
<br />(1 Year Treasury !ndex -Rate Caps)
<br />THIS ADJUSTABLE RATE RIDER is made this 3rd _- day of AprH _, 19 56
<br />(� and is incorporated into and shall be deemed to amend and supplement the Mortgage. Deed of Trust. or Security Deed (the "Security
<br />Instrument ") of the same date given by the undersigned (the "Borrower ") to secure Borrower's Adjustable Rate Note (the "Note ") to HOME
<br />SAVINGS t LOAN ASSOCIATION OF GRAND ISLAND, NEBRASKA (the "Lender ") of the same date and covering the
<br />property described in the Security Instrument and located at:
<br />_ -- 525 r . Hall. Grand Isladn, NE _ 8901 -.-- _ —__ -- — (Property .Address)
<br />This nose contains provisions allowing for chattRes in my Interest l rate and my monthly
<br />payments. This note also limits the amount my interest rate can change at any one time and
<br />abo the mitdmum and the maximum rate 1 cowl pay.
<br />ADDITIONAL COVENANTS. In addition to ine covenants and agreements made to the Security Instrument, Borrower and Lender
<br />further covenant and agree as follows:
<br />A. INl'EREST RATE AND MONTHLY PAYMENT CHA'NGFS
<br />The Note provides for an initial interest rate of �°n. Section a of the Note provides for changes in the interest rate and the
<br />monthly payments, as follows:
<br />4. INTERE :ST RATE A xD WONTiII. P.4 I'- 6fF_ :S'T C'11.4NGE.S
<br />(A) Change Dates
<br />The interest rate I will pay may change on the first day of ?itf @ , 19 �__. , and on that day every
<br />_.- _ i2_ - -_ months thereafter. Each date on which me inicrcnt rate ould change 11 called a "Change Date."
<br />(a) The index
<br />Beginning with the first Change Date, my interest rate will he based on an Index. The "Index" is the weekiv average yield on United States
<br />Treasury securities adjusted to a constant maturity of f year, as made available by the Federal Reserve Board. The most recent Index figure
<br />available as of the date 45 days before each Change Dates called the "Current Index. -
<br />If the Index is no longer available, the Note Holder will choose a new, index which is based upon comparable information- The Note
<br />Holder will give me notice of this choice.
<br />(C) Calculation of Changes
<br />Before each Change Date, the Note Holder will calculate my new interest rate by adding __ h rE "___________" percentage
<br />points ( 3 "t's) to the Current Index and rounding to the nearest ! %Nth of I We, subject to the limits stated in Section 4(D) below.
<br />This rounded amount will be my new interest rate until the next Change Datc.
<br />The Note Holder will then determine the amount of the month(v payment that would he sufficient to repay !n full the principal I am
<br />expected to owe on that Change Date in substantially equal payments by the maturity date at my new interest late The result of this calculation
<br />will be the new amount of my monthly payment -.
<br />(D) Limits on Interest Rate Changes
<br />The interest rate I am required to pay at the first Change Date .:[I not br greater ;hart 4 _• �= -?'a or less ban
<br />8.25 We. Thereafter, my interest rate will never he Increased or decreased on any smgle Change Date by more than NA
<br />front the rate of interest I have heen paying for the preceding !wrlve months. "The minimum interest rate on this iiu,:n will never he
<br />less than - �.;"e and the maximum interest rate will never be greater (halo
<br />(E) Effective Date of Chaappes
<br />My new interest rate will become e(ftstive on each Change Date. t wifi par the antotau of my nea monthly payment beginning nn the first
<br />monthly payment date after the Change 'Date unit[ the amount of my monrhiv pavmenr changes again.
<br />(F) Notice of Changes
<br />The Note Holder will mail or deliver to me a notice Lefore each Change Date. I -he novice will ads Ise me of
<br />W the new Interest rate on my loan as of the (-flange Date;
<br />I i;i the amount of my monthly payment following the Change Date;
<br />,tit) any additional matter which the Note Holder is required to disclose: and
<br />(iv) the address of the association you could contact regarding any questions abour the ad Iustinent not t cc.
<br />a. CHARGES; LIENS
<br />Uniform Covenant 4 of the Set unty Instrument is amended is read as follows:
<br />4. Charges; 1Jem. Borrower shalt pav ail taxes, assessments, and other charges, fines, and impositions attnbutable to the Propenv which ntav
<br />attain a priority over this Secunty instrument, and ieaschold payments of ¢round rents, d any, in the manner provided under paragraph ' hereon
<br />or, if not paid in such manner, by Borrower making payment, when due, directiv to the payee thereof. Borrower shall promptly furnish Lender
<br />all notices of amounts due under this paragraph, and in the event Borrower shall make payment directily. Borrower shall prompl!v t'urntsh to
<br />Lender reciripts evidencing such payments. Borrower shall nrompt!y discharge any lien which has priority over this Security Instrument:
<br />however, Borrower shall net be required to discharge any such licit so long as Borrower: (a) ;hall agree in writing to the payment of the
<br />obligation secured by such lien in the manner acceptable to Lender; (h) shall in good faith contest such lien by, or defend against enforcement of
<br />such lien in. legal procredings -Lich in the opinion of Lender operate to prrvent the enforcement of the lien or forfeiture of file Property of any
<br />part thereof; or (c1 shall secure from The holder of such licit an agreement tit a form Ansfaoor) to Lender tibordinating such lien to tars
<br />Security Instrument.
<br />If lender determines that all or any pan of the Property is sirhlec'I to a lien .Inch niav attain a priorty over this Sciurus lmtninicnt,
<br />Lender shall give Borrower a notice idertifving such lien &,(rower shaii ,ati%fv -,u:h ilen or sai.c .,rte it mote of the aattons sot Loth AN-
<br />within ten days of the grving.)f the nonce.
<br />LC. NC)TWE
<br />f mform k osenanr 14,A the sc,:urir, Iriainrment ,s arnendrd lo rent as enilo..
<br />t4. 7tia11ce. f- xt.ctee tit any �, rtnr t�;ytnrto ,rittrr pi'pl'calsi; td. he g rr :n :u ;inrani rnannc•. tai .t ti, •r to it,)I stir ;` o, JeJ Ili ,r .Iii.
<br />'�K.'itrlty inet!uttvenk mall be g3 \in by (lei oi , roll I or h, "rl a, in I '.I ht lint , 4— !j,A;:
<br />Hh �{HifYwrC! n1A? C"On4te t • r !Vle hrt:',n Intl,) if, III,
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<br />` .txt It T ,arrar;eti+.:ha {t PR^ 'ter,!—l' 11, 11-;—,
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