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ADJUSTABLE RATE RIDER 85-- 000484 THIS AWUSTABLE RATE RIDER is made this 24th day of January , 19._$.`3_ and is incoMortited into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Dad to Secure Debt (pre "Security instrument ") of the same date given by the u (the "Borrower ") to secure Borrower's Adjustable Rate Note to HOME FEDERAL SAVINGS & LOAN ASSOCIATION OF GRAND ISLAND, NEBRASKA (the "Lender ") of the same date (the "Note") and covering the property dsscribed in the Security Instrumennt and located at: 1516 Church Road, Grand Island, Nebraska 68801 (Property Address) The Note contains ismislons allevrinig for changes is the interest rate. if the Interest rate Increases, Me war's monthly payments will be higher. If the Interest rate decreases, the Borrower's monthly payments will he inviter. ADDITIONAL COVENANTS. In addition to the covenant and agreements made in the Security instrument, Borrower and Lender further covenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of 11 %. Section 4 of the Note provides for changes in the interest rate and the monthly payments, as follows: 4. 9NTERESTRATE AND MONTHLY PA KWENT CHANGES (A) Cbmage Data Tlx interest rate I will pay may change on the 1St day of march 19 86 , and on that day of the month every 12 months thereafter. Each date on which my interest rate could change is called a "Change Date." (a) The Ilex Bcl inning with the first Change Date, my interest rate will be based on an "Index." The Index is the weekly average yield on United States Treasury securities adjusted to a constant maturity of one years, as made available by the Federal Reserve Board. The most runt Index figure available as of 45 days before each Change Date 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 nx notice of its choice. (a of C6"es Before each Change Date, the Note Holder will calculate my new interest rate by adding two and one -half percentage points to the Current Index, and rounding to the nearest 1 /8%. The sum will be my new interest rate. The minimum interest rate on this loan will be no less than 9.5 %. The maximum interest rate on this loan will be no more than 14.875 ins. The Note Holes will then determine the amount of the monthly payment that would be sufficient to repay in full the principal I am expected to owe on the Change Date in substantially equal payments by the maturity date at my new interest rate. The result of this calculation will be the new amount of my monthly payment. (D) Effective D>Ne of Cam: 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 monthly payment date after the Change Date until the amount of my monthly payment changes again. (E) Notice of Changes The Noe Holler will mail or deliver to me a notice before each Change Date. The notice will advise me of: fly the new interest rate on my loan as of the (change Date; (ii) the amount of my monthly payment following the Change Date; (iii) any additional matters which the Note Holder is required to disclose; and (iv) the title and telephone number of a person who will answer any question I may have regarding the notice. B. CHARGES; LIENS Uniform Covenant 4 of the Security Instrument is amended to read as follows: 4. . Borrower shall pay all taxes, assessments, and other charges, fines and 'impositions attributable to the Property which may attelia a priority over this Security Instrument, and leasehold payments of ground rents, if any, in the manner provided under paragraph 2 hereof o, if not paid in such manner, by Borrower making payment, when due, directly to the payee thereof. Borrower shall promptly furnish to Leader all nofica of amounts due under this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly fartisis to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this purity I however. Borrower shall not be required to discharge any such lien so long as Borrower: (a) shall agree in writing to the payment of ft Got secured by such lien in a manner acceptable to Lender; (b) shall in good faith contest such lien by, or defend against enforcement of such hern in, legal proceedings which in the opinion of Lender operate to prevent the enforcement of the lien or forfeiture of thc'Propeny or any pot thereof. or (e) shall sxure from the holder of such lien an agreement in a form satisfactory to lender subordinating such lien to this Secmity lattrutrient, If Lender deternimes that all or any part of the Property is subject to a licit which may attain a priority over this Security instrument, Lauder shall give Borrower a notice identifying such lien. torrower .shall %atkfv such licit or take one or snore of the actions set forth above within tetr days of the giving of the notice. I Cl. NOTICE UmformCoveramo 14 of the Security Instrument is amended to read as follows: s 14. Noun. ltxcept for any roatwo required under applicable law to be given m another onaaner. (at anv mrtice to lioriowrr provrdc+l tot to this Sesurity Inmru t %hall be given by delivering it ur by mailing it by first class marl to lorrower at the I°mperiv Addle" or at Noah other addrt -� se Wrcrowrx may designale by notice to Lender a* provided hctoo, and (h) anv notice to I ender .hall by gl%vil by Post , Is., triad to I.rmlet', mh1fe" �Iaicd Irian of to sut'h other add3resr as I emler may tknigtiate by notice In Ilotr"wel ac ornytdetl heirtn -Inv a"ti,e is" "k&NI f,n wt [hit ``ft,urtty 11c,trnnIcnt shall he d"irted tit, bnve been si,en to [Ntrror rr or I audei .hen corn in the heirtn