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<br />7 100161
<br />ADJUSTABLE RATE RUDER
<br />( I Year Treasury ndex•Rafe Caps)
<br />THIS ADJUSTABLE RATE RIDER is made this day of IP 7—
<br />amill is incorporated into and shall be dac uird to amend and supplement the Mortgaill Deed of 'Trust, or Security L (the "Staini
<br />lac t „) of the stuav cbaac given by the undersigned (the "Borrower ") to secure Borrower's Adjustable Rata 'Note (the "NoWl to M
<br />AIM iATI N Qf RAND i LAND M[�RASKA (the "[.radar ") of the same Jule and covering the
<br />property described in the Security Instrument and located at
<br />#82 Kuesters Lake, Grand Island, Nebraska 68801
<br />(Property Address)
<br />This note eontaift provisions allowing for changes in my interest rate and my Monday
<br />payments. This note also limits the amount my iuterasl rate coil change at any one time and
<br />ako the mkdnmm and Ike maximum rate I most pay,
<br />ADDITIONAL. COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender
<br />further covenant and agree as follows:
<br />A. INTEREST RATE AND MONTHLY PAYMENT CHANGES
<br />The Note provides for an initial interest rate of -------- �'a. Section 4 or the Note provides for changes in the interest rate and the
<br />monthly payments, as follows:
<br />4. LVTEREST RATF AND MONTHL Y PAYrNEVT CHANGES
<br />(A) Change Dulles
<br />The interest rate f will pay may change on the first day of ____ February ._.___. _ _ , 19 _ 88 —and and on that day every
<br />_._____ months thereafter. Each date on which my interest rate could change is called a "Change Date."
<br />01) The IMex
<br />Beginning with the first Change Date, my interest rate will be based on an Index. The "Index" is the weekly average yield on United States
<br />Treasury securities adjusted to a constant maturity of I 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 Date is tailed 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) Cskuladon of Changes
<br />Before each Change Date, the Note Holder will calculate my new interest rate by adding two & one –half percentage
<br />points ( 2.5 g®) to the Current Index and rounding to the nearest li8th of i ita, subject to the limits stated in Section 4(D) below.
<br />This rounded amount will be my new interest rate until the next Change Date,
<br />The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay in full the principal 1 am
<br />expected to owe on that Change Date in substantially equal payments by the maturity date at my new interest rate. 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 will not be greater than _10•25 07® or less than
<br />7.5 %. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than two
<br />from the rate of interest I have been paying for the preceding twelve months. The minimum interest rate on this loan will never be
<br />less than _75— 110 and the maximum interest rate will never be greater than
<br />(E) Effective Date of Changes
<br />My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment beginning on the first
<br />monthly payment date after the Change Date until the amount of my monthly payment changes again.
<br />(1F) Notice of Changes
<br />The Note Holder will mail or deliver tome a notice before each Change Date. The notice will advise me of:
<br />(i) the new interest rate on my loan as of the Change Date;
<br />(ii) the amount of my monthly payment following the Change Date;
<br />(iii) any additional matters which the Note Holder is required to disclose; and
<br />(iv) the address of the association you could contact regarding any questions about the adjustment notice.
<br />R. CHARGES; LIENS
<br />Uniform Covenant 4 of the Security Instrument is amended to read as follows:
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, and other charges, fines, and imposirions attributable to the Property which may
<br />attain a priority over this Security instrument, and leasehold payments of ground rents, it any, in the manner provided under paragraph 2 hereof
<br />or. if not paid in such manner, by Borrower making payment, when due, directly 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 directly, Borrower shalt promptly furnish to
<br />Leader receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument;
<br />however, Borrower shall not be required to discharge any such lien so long as Borrower: (a) shall agree in writing to the payment of the
<br />otfigationsocured by such lien in the manner acceptable to Lender; (b) shall in gored faith contest such lien by, or defend against enforcement of
<br />such him in, Legal proceedings which in the opinion of lender operate to prevent the enforcement of the lien of forfeiture of the Property or any
<br />t thereof; f; or (e) shall secure from the holder of such lien an agreement in a lorm satisfactory to Lender silt oulinating such lien to this
<br />5
<br />ZATCUrity InSifUn cnt,
<br />If Lenda determines that all or any part of the Property is subject to a hen which may attain a priority over this Stcui ty Instrument,
<br />Lend" shall give Borrower a notice identifying such lien. Borrower shall satisfy such lien of take one in more of the actions set forth above
<br />thin ten days of the giving of the notice.
<br />C. NOTI(L
<br />Uniform Cc mint 14 of the So; may instrunwin ii, amended w read an follow%:
<br />14., Netai Laaept fair any notice rNutred under apphi ii c law io Ire given in another manner. (al any owwe I,, lltutower lot in this
<br />tkimfify Ir efunw –fir shall tic gwen h,y ctchertinx it or try mulling ,i by beet clm, mall!" If ..... rwc-r rtt the Ropers Addt,ss m at - u0i ozhv, mldme
<br />as 11orfref may r e ignaic Mg nome to bender as provided hesrin, And th1 any nlm,,r Ia., lender ,hill he Fivc-,r h* lusi ,Istea - wi tnt &;
<br />miffs etatcA ili ra "? to'u"4i =ether m3altms au I.endea muy Jr,,gttate hs notl<.e f,, Itnt raYyer : s rr..,, Mc,l he"In tkm wcr. I;r Ft.,c_I . _,_>
<br />4°�aA'xsy ltstrume"t shah lw der"MI tar Esawe': ¢rn, i+,en I.(, ucr s,wer i" i e'lilet w -he., marmot ,S. .rQ wlv,t
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