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86--1 WPM 69504 -1 -18 LoanNo.. ......... : ..................... ADJUSTABLE RATE LOAN RIDER WITH OPTION OF CONVERSION TO FIXED INTEREST RATE NOTICE: THE SECURITY INSTRUMENT SECURES A NOTE WHICH CONTAINS A PROVISION ALLOWING FOR CHANGES IN THE INTEREST RATE. IN- CREASES IN THE INTEREST RATE WILL RESULT IN HIGHER PAYMENTS. DECREASES IN THE INTEREST RATE WILL RESULT IN LOWER PAYMENTS. This Rider is made this .--- ...... .3rd...... day of ....... ._.'JU.1.y --------- ............ _._., 19_86.., and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt (the "Security Instrument ") of the same date given by the undersigned (the "Borrower ") to secure Bor- rower's Note to .. ......... ----- ---- - ------------------ -------- ................ .----------....._.. ---- ..__... ------ .------------ .... ... ............................ First Federal Savings and Loan Association of Lincolnr a United States_corporation . I ............ ......... (the "Lender") of the me date (the "Note ") and covering the property described in the Security Instru- ment and located at _.4157 Mason Avenue Grand..?sland, Nebraska__ 68803,,._ -- -- - -.... _. . Property Address 1ODIFICATIONS. In addition to the covenants and agreements made in the Security Instrument, Bor- rower and Lender further covenant and agree as follows: 1. INTEREST RATE AND MONTHLY PAYMENT CHANGE DATES The Note has an "Initial Interest Rate" of ........ T'.950-.% Interest rate changes may occur on the 1st day of ... _- _......... ------ - ..SeRtf rTPer ....... 19_87, and on the 1st day of .. ..I ....................December 19_._87 and on the 1st day of ____._ -.- ."larch _-.. - -... _., and on the Ist day of ...........___.June -...- ----- -- _ , 19...88 and on those dates of those months in every vear thereafter. Each date on which the rate of interest may change Kill he called a "Rate Change Date Change's in principal and interest payments to adjust amortization of the loan to correspond with interest rate changes shall be made on the 1st day of ...... ... _... .- .._September 19 -_R7. and on that date every --- ° -- -_- year(s) thereafter. Each date on which the principal and interest payment may change will be called a "Payment Change Date ". 2. INTEREST RATE CHANGES (A) The Index Beginning with the first rate change date. my interest rate will be based on an index. The "Index" is the: (check one box to indicate Index) (1) i "Contract Interest Bate, Purchase of Previously Occupied Hon.ts, National Average for all Major Ty I" of Lenders" published by tlLe Federal Horne Loan 13enk Board. Monthly average ,felt' on ?'.S. Treasury Securities (..) _? .. ..... I ..... ....... ... _ . ... ...... - adjusted to a constant maturity of 1 vear published by the Federal Reserve Board The most recent Index figure available as of the dark, 15 clays before each Rata Change Date and 45 days before each Payment Change Date is called the "Current Index ". If the Index is no longer available, the Note Holder xvill choose a new Index which is based upon comparable infm•nuttion. The Note Holder will give me notice cif this change. (B) Calculation of Changes Before each Rate WIge Date or Payment Chang Qgt4 the Note Holder will calculate my new interest rate by adding - percentage points i ) to the Current. Index. "Pit, results of this addition will be my new n>terct rate until the next Rate Change- Date or Pavrnent Change late. On each Payment Change hate, the Note Holder will then dtrternum7 the amount of the monthly payment that would be sufficient to repay the unpaid principal balance of my loan I am expected to ow on e the Payment Change Date in full on the maturity date at my ne:w interest rate in substantially equal pay- ments. The result of this calculation wili he the amount of my nk-%v principal and mffrre�,t payment until my next Payment Change Date. (Check box(s)) (1) If this box is checked, there will be no maximum limit on change~ in the interest rate up or clown. The interest rats: as calculated under Section 2 (B) will be the ne%% interest rate. (2) 1_4 If this box is checked, the interest rate that I pay .shall not increase rrxore. than tCt percentage points on any Payment Change Date. 0 1 If this IN,.x is t hecketl the interest rate that 1 pa.% shall no! .i.<,rc than gxsrcexttae ;points on any Payment Change hate, t) if this IN)x is .hecket t -he into ra,.. rate that I p, iv shall! not ,ncrt;I t, it }nn ;wry'entage lxtintq on any Irate Change Oatc-. Lj