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<br />ADJUSTABLE RATE RIDER 85- 003070
<br />(I Year Treasury Index -Rate Caps)
<br />THIS ADJUSTABLE RATE RIDER is made this 14th dayof June 19 85
<br />r and is utrnrporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security
<br />tl Instrument-) of the same date given by the undersigned (the "Borrower ") to secure Borrower's Adjustable Rate Note (the "Note ") to HOME
<br />FBMWL SAVINO8 a LOAN ASSOCIATION OF DRANO ISLAND, NEBRASKA (the "Lender") of the same date and covering the
<br />property described in the Security Instrument and located at:
<br />412 West 14th, Grand island, Nebraska 68801
<br />(Property Address)
<br />This note contains provisions allowing for changes in my interest rate and my monthly
<br />payments. This note also limits the amount my interest rate can change at any one time and
<br />abo the mhdmom and the 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 CHANCES
<br />The Note provides for an initial interest rate of 11 _°/o. Section 4 of the Note provides for changes in the interest rate and the
<br />monthly payments, as follows:
<br />4. INTEREST RATE AND MONTHL Y PA YMENT CHANGES
<br />(A) Change Dotes
<br />The interest rate 1 will pay may change on the first day of __ _ t 9 56 _ and on that des ever
<br />12 - - - -- — y y
<br />months thereafter. Each date on which my interest rate could change is called a "Change Date."
<br />(a) Thelodea
<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 called 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) Calewail" of Chimps
<br />Before each Change Date, the Note Holder will calculate my new interest rate by adding _ t.hrE'e__ percentage
<br />pants (— 7 %) to the Current Index and rounding to the nearest I 18th of I ire, 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 he sufficient to repay in full the principal I am
<br />expected to owe on that Change Date in substantially equal payments by the maturity date at my new interest rate. The resul(of this calculation
<br />will be the new amount of my monthly payment.
<br />(D) limits on Interest Rare Changes
<br />The interest rate I am required to pay at the first Change Date will not be greater than __. _ °o or less than
<br />') -' %. Thereafter, my interest rate will never tie increased or decreased on any single Change Date by more than
<br />Z from the rate of interest 1 have been paving for the preceding twelve months. The minimum interest rate on this loan will never be
<br />less than __ J .___nr and the maximum interest rate will never be greater than
<br />(E) Effective Dote of Changes
<br />My new interest rate will become effecnve 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 />(F) Nod" of Chaaps
<br />The Note Holder will mail or deliver to me a notice before cacti Change Date. 1 he notice will advise me ol:
<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 />IL CHARGES, l.lE Ns
<br />Uniform Covenant 4 of the Security Instrument is amended to read as follows:
<br />4. Charpa: lies. Borrower shall pay all taxes, assessments, and other charges, fines, and impositions attributable to the Property which may
<br />attain a priority over this Security Instrument, and leasehold payments of ground rents, if any, in the manner provided under paragraph : hercol
<br />or, if not poid 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 shall promptly furnish to
<br />1.e6der receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument;
<br />however, Borrower vhW not be required to discharge any such lien it) long as Borrower: (a) shall agree in writing to the payment of the
<br />ion secured by iawh lien in the msnnet acceptable to Lender; (b) %half to good faith contest such lien by, or defend against enforcement of
<br />such lien in, kgal proceedings which in theopinion of Lender operate to prevent the enforcement of ( e lien or forfeiture of the Property or any
<br />Dart th aeof; Of (4) "1 secure from the holder of such hen an agreement in a form satisfactory to Lender subordinating such lien lo ih),
<br />Sesurffy lanitrument.
<br />If Lander determines that all or any part of the Property is sub)evi to a lien which may attain a priority over this yiecurlly Instnonene,
<br />Lender sWi give Borrower a notice identifying; such Tien. Horrowet shall sanely such hen or take one or more of the actions sel lame ahme
<br />within ten days of the giving of the notice.
<br />L C.
<br />Uniform Covenani 14 of the !security Instrument ix amended to read as follow,
<br />14. Noses. Except for any notice required under applicable law to he given in another mnnncr. cal any none to 11:rro"er lef!n!drd till In th!,
<br />Security Insirutrattl shall be given by delivering a or by mailing it by first clan, rna!I !o Bormaer at the Ill operIN Address of it it, 1) .dhrr addies.
<br />as Borrower may drsignate by notice tU Lender as provided heron, and eh) an} ender hall I,e green h, tint rids, mail to I ctndc,' .
<br />addirest stated herein rat to ouch other address as I.endco lum &,s Xrlale by nsu,e n, H.,!r,.we, a. tmnrded hc!e!n �m nnu.r ;+n.,:deit ern u, !ni•
<br />siccurfly Irtorklment shall lW deemed to ha,e hesear given h, {{reties er n, I ender then K" ", n the manner t,•,�Mnated heroin
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