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,, 104335 ADJUSTABLE RATE LOAN RIDER NOTICE: THE SECURITY INSTRUMENT SECURES A NOTE WHICH CON- TAINS A PROVISION ALLOWING FOR CHANGES IN THE INTEREST RATE. INCREASES IN THE INTEREST RATE WILL RESULT IN HIGHER PAYMENTS. DECREASES IN THE INTEREST RATE MAY RESULT IN LOWER PAYMENTS. This Rider is made this 30th day of July 19_x_ 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 Borrower's Note to THE EQUITABLE BUILDING AND LOAN ASSOCIATION OF GRAND ISLAND, NEBRASKA (the "Lender ") of the same date (the "Note ") and covering the property described in the Security Instrument_ and located at air, N Cimi -Ar Rt Cr nd Tclarri,NE Property Address MODIFICATIONS. In addition to the convenants and agreements made in the Security Instrument, Bor- rower and Lender further covenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES: The Note has an initial interest rate of 10 — %. The Note provides for changes in the interest rate and the monthly payment as follows: M Rate Change Dates and Frequency Thereof: Beginning in 19__, the rate of interest I must pay may changefn the firs*_ day of the month (Month After Closing Month), and on that day every 12 months thereafter. Each date on which the rate of interest could change is called a "Rate Change Date." (21 The Index: Any changes in the rate of interest will be based on an Index. The "Index" is X the Monthly Average Yield on United States Treasury securities adjusted to a constant maturity of 6 months X I year 3 years 5 years as made available by the Federal Reserve Board, or 7. the Na- tional Monthly Median Cost of Funds (annualized) to FSLIC Insured Savings and Loan Associations, as made available by the Federal Home Loan Bank Board. (Check only one box.) The first Index figure for this Note is 6.65 %. It is called the "Original Index." The most recently available Index figure as of 45 days before each Rate change 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. (3) Calculation of Changes: Before each Change Date, the Note Holder will determine any change in my rate of interest. The Note Holder will calculate my new interest rate by adding —2—percentage points ( 2 %) to the Current Index and rounding the result to the nearest one - eighth of one percentage point 10.125%). This rounded amount will be the new rate of interest I am required to pay. The maximum interest rate I will be required to pay on this loan will be no more than _14__`^0. The minimum interest rate I will be required to pay on this loan will be no less than ___9 The Note Holder will then determine the new amount of my monthly payment which would be sufficient to repay the outstanding principal balance in full on the maturity date at my new rate of interest in substantially equal payments. The result of this calculation is called the "Full Payment" and will be the new amount of my monthly payment. PROVISION A(4) applicable only if this box is checked. (4) Limit on Interest Rate Increases: The rate of interest I am required to pay shall never be increased or decreased on any single Rate Change Date by more than _____17, from the rate of interest I have been paying. (5) Effective Date of Changes: The new rate of interest will become effective on each Rate Change Date. I will pay the new amount of my monthly payment each month beginning on the first monthly payment date after the Rate Change Date until the amount of my monthly payment is again changed, or f have fully repaid the loan. (6) Notice of Changes: The Note Holder will mail or deliver to me a notice of any changes before each Rate Change Date. The Notice will advise me of the new interest rate on my loan, the amount of my new monthly payments, and any additional matters which the Note Holder is required to disclose. Provisions A(7). A(8), A(91. and A00) applicable only if this box is checked. L(7) Borrower's Right To Limit Monthly Payment: Unless Sections A(9) and A(10) below will not permit me to do so, I may choose to limit the amount of my new monthly payment following a Rate Change Date to the amount I have been paying multiplied lay the number 1.075. 'Phis amount is called the "Limited Payment." If I choose a limited Pavment as my monthly payment, I must give the Note Bolder notice that I am doing: so at least 15 days before my first new monthly payment is due.