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7
<br />ADJUSTABLE RATE RIDER
<br />(1 Year Treasury Index -Rate Caps) 3"anar ll O ,�
<br />THIS ADJUSTABLE RATE RIDER is made this 16th V ,2 3
<br />and is i ----pp —day of �1av 14 85
<br />Incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security
<br />Ifu
<br />EIRM& t' ") of the same date giv= by the undersigned (the "Borrower") to secure Borrower's Adjustable Rate Note (the "Note ") to HOME
<br />property SAVINGS 40A11 TKNI O ' GRAND ISLAND NEBRASKA (the "Lender ") of the same date and covering the
<br />described in the Security instrument and located at-.
<br />4015 Driftwood, Grand Island, Nebraska 68801
<br />(Aroperty Address)
<br />TWs mille coundiall peoddam saowiag for champs in my laterem rote and my Monthly
<br />Mysim"Im' Tble hate stao maid" the amoant my Interest rate can change at any oft the and
<br />ShO the Mimimm and the maxima rase 1 sma 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, INTE UMT RATE AND MONTHLY PAYMENT CHANGES
<br />The Note provides for an initial interest rate of 1 1 _'�� eh Section 4 of the Note provides for changes in the interest rate and the
<br />y payments, as follows:
<br />4- JIVTEMT RATE ANL)1NONTHL Y PA Y,'NEN'T CHANGES
<br />(A) ChempDatm,
<br />The interest rate I will ay may change on the first day of Ju re
<br />7 months thereafter. Each date on which my interest race could change is called a' Change 8 Date.', and on that day every
<br />(a) The Indsst
<br />ng with the first Change Date, my interest fate 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 Dale is called the "Current Index."
<br />If the liadelf is no longer available, the Noe Holder will choose a new index which is based upon comparable information. The Note
<br />Holder will give me notice of this choke.
<br />(C) caktakdom of Claysa
<br />Before each Change Late, the Note Holder will calculate my new interest rate by adding , ta,an ,pi-i •j _ 1 f percen
<br />pouts ( %) to the Current Indent and rounding to the nearest I /8th of i %, subject to the limits stated in Section 4(D) below•
<br />This rounded amount will be my new interest rate until the next Change ate.
<br />The Note Holder will then determine the amount of the monthly payment that would he sufficient to repay in full the principal I am
<br />exptteted to owe on that Change Date in substantially equal Payments by [tic maturity date at my new interest rate. The result of this calculation
<br />will be the new amount of my monthly payment,
<br />iD) iJt�ii w li�rap gfase Chang
<br />The interest rate i am required to pay at the first Change Date will not be greater than
<br />"' " ° • Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than Wor less than
<br />from the rate of interest I have been
<br />less eying for the ever be twelve months. The minimum interest earn on this loan will never be
<br />t _,7, "! _% aaW the maximum interest rate will never tse rgecr than.
<br />g
<br />(a) liTKtivs Dqe of Clams
<br />My new nntertst rate will become effective on each Change ate. I will ay the amount of my new monthly iaayment beginning on the first
<br />Mthly pyymew rate after the Change fate until the amount of my monthly Payment changes
<br />04 Rotlae e! ==�aa
<br />The Note Holder will anal of deliver to me a notice before each Change Date. The notice will advise me
<br />of:
<br />(i) the new interest ra /eon my loan as of the Change Date;
<br />(ii) the amount of my monthly payment following the Change ate;
<br />('iii) easy matters which the Note Holder is required to disclose; and
<br />40 the address of the association you could contact regarding any questions about the adjustment notice.
<br />IL t LMNSI
<br />LhWOFM COvOUM 4 of the Security Instrument is amended to read Its follows:
<br />4 Llaaa, Borrower Shall pay all taxes, atiliessiments. and Other charges. fines, and im
<br />smam a over this Security Instrument. and positions attributable to Property which may
<br />n ne
<br />CN, if Payments Of� gPpnnd rents, if any, In the manner pl'nvidtaq) under paragraph : tIMCf)f
<br />paragraph
<br />inn such . by Borrower making payment, when due, directly ro the
<br />am minions of amounts due a this Paragraph, and in the event Borrower shall make thereof. Borrower shall promptly furnish l
<br />f payment directly, Idty furnish to
<br />tt1
<br />a 31Kh payments, B[Mfnwer shall Promptly discharge
<br />pcurity
<br />any lien which has IaTltSritV nYer this SeCntl[y IttttrUmeflt;
<br />)yet! his l lumo
<br />not be requited to dutchilage any such ban so hmg as Borrower:
<br />(a) shall
<br />by flitch to the agree in earning to Ilan payment of the
<br />acceptable to I. ; tbl shall In glxid faith
<br />contest such lien by, or defend against enfoicerrieni of
<br />• pr which to the opinion of 1.eaar Operate to idle e meth
<br />part flameressf; Or (k) taf tP.; IMO ar Ictr {Ct$nd @cif the E'€t)t7erj4' etff ally
<br />(Pr8n1 the holder of such lien an ages t In
<br />eat in form
<br />Securely a m %si
<br />9atitfaCtt *Yy by 1 cttdcr %utfordinatnag stub lien ut Ihli
<br />If f. ender d"armum that al of any earl of the
<br />property ty snhJeti n a lien which may 11113111 a prt47Py tv@ Pftr SeitPifV 1 ?iPWmet. f' r a notice 1 ifyrng
<br />%itch bon.
<br />Borrower stall %alisfv ytuh lien or take o1w t)r the giving of the It more fit the ai fltlny rcpt t�Ntit afTttyP
<br />of an ice.
<br />c. ;IL
<br />t frisform Co 14 oaf Ile uPNy instrument 15 Ammd0d to toad as f(zat (rwv
<br />J`* NOW*- VURK for act§' nrrtke required undet, appheable law it) t)@ littler, to atltilhe?
<br />manner, (aP anb rltrtit'F Ice PIS +YPt +N h'i (�I,tY ta�sn f�H Fli tf11Y
<br />. -.y It�tr 91m11 be given by dellvering n ts1 by marling b4 I
<br />11 IfSt t.lam$ ftkaf) [c1 tttatrtrwer Inn cite I'e t+
<br />rA r€ Moony d" nets, Oy nolwe IF? I @t1+JeP It's ifY6 t?C'rlb A,4Ve,% , 4t 4111'11 i.l lyPr et�ltl ?Pyfi
<br />f) Kkxl rwretn. anal fhI anV
<br />m{I�tw�r t. t e, nder 01411 1+e aired f•V }It. Pak ^, rt)Yli 1.1 t ,"tl�afi'w
<br />"s trod(! '"Tt rm to sw,,h other addre&9 as !.ender may drsianate 1�a' tlaoir'
<br />it) mo roue€ a0 111r1,lcYl 11f`I Ptii 'Olt t.H �!- �` " Itlrt� f't 1,' ;f�l,
<br />'wity Im"fumm, them tv GfY&"rrWd t ", halo tP &T" 16r€31. ijtHfts
<br />a 'wen fk4 I.e7YYlit`P afig^k°t
<br />alb�t° In Ift4` ( }S.�rl Eici ,t NCIa ItA ?ell 1t Ct Crt�
<br />
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