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A6971 RE- RECORDED 68--0" - 86- 107290 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 trade this 3rd day of October' 19--.4-6- and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of 'Dust, 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 Ithe "Note "I and covering the property described in the Security Instrument and located at 3023 Brentwood Place, Grand Island, NE Property Address MODIFICATIONS. In addition to the convenants and agreements made ir. 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 2__.`"o. The Note provides for changes in the interest rate and the monthly payment as fellows: 12 months froth due date of first payment (1) Rate Change Dates and Frequency Thereof: Beginning W3X the rate of interest I must pay may changedn the firms ___day of the 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." (2) 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 __.1 year ______3 years ____ __5 years as made available by the Federal Reserve Board, or C' 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_fii;1 %. 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 (0.1251%o1. This rounded amount will be the new rate of interest I am required to pay. The maximum interest rate 1 will be required to pay on this loan will be no more than _14_ "b. The minimum interest rate I will be required to pay on this loan will be no less than _ _ .y_ The Note Holder will then determine the new amount of my monthly payment which would he 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 A14) applicable only if this box is checked. 14) 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 1 from the rate of interest I have been paying. 15) Effective Date of Changes: The new rate of interest will become effective on each Rate Change Date. 1 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 l have fully repaid the loan. 16) 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 A17), Airy), A01, and A00) applicable only if this box is checked. rh Borrower's Right To Limit. Monthly Payment: t`Mess 'ixtions A(9) and A001 below will trot permit me t.o do so. i may choose to limit, the amount of my new monthly payment. following a Rate Change Date to the amount I have Exam paying multiplied by the number 1.075. This amount is called they "limited Payment..' it I choose. a LimiteA Payinent a% my monthly payment. I must )give the Note !bolder notice that I am doing co at least 1", clays b efnre my firmt. new rnonthiy lutyment k due