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ADJUSTABLE RATE RIDER 5--- 003948
<br />(1 Year Treasury Index -Rate Cap%),
<br />THIS ADJUSTABLE RATE RIDER is made this 16th day of August ,19 85
<br />and is ineo loocated into and " be dammed to amend and supplement the Mortgage. Deed of Tru.A, or Security Dad (the "Security
<br />hurts manor ") of the same date given by the undersigned (the "Borrower ") to secure Borrower's Adjustable Rau Note (the "Note") to NOME
<br />ttopvMs WON & LOAN A**oajplip N Oft GRAND )*LAND NEBRASKA (the "Lender ") of the same date and covering the
<br />p "ll y daa*W is the Security Instrument and located Rv
<br />516 South Grant; Grand Island, NE _68803
<br />(Property Address)
<br />This mole c I peovidow allowing fee ehmmgas in my tmbrsat rate and my tmomAly
<br />poyawk. ThN male &No BmMts the mammal my lowest rate can change at any one time and
<br />slim the salmitmwr MW till nWdraman raft 1 tamest piny.
<br />ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender
<br />tinier covgtmtr and agree as follows:
<br />A. INTERM RATE AND MONTHLY PAYMENT CHANGE'S
<br />The Note provtdn for an initial interest rate of _. __... ^__Ns. Section 4 of the Note provides for changes in the interest rate and the
<br />Monthly payments. at follows: .
<br />4. INTEREST R,4TE AND MONTIfL )' PAYMENT CIIANGES
<br />(A) Cbmgt Dow
<br />Set, :ember 1 86
<br />iT� niter f will pay tray change on the first day of ,_____ L.__�__�_ __ ±___�_— . 19 _ and on that day every
<br />tw ve 12 months thereafter. Each date on which my *merest rate could change is called a "Change Date."
<br />llp Tim ledn
<br />Beginning with the first Change Date, my interest rate will be based or. at i,rdes. The "Index" is the weekly average yield on United States
<br />Treasury securities adjusted to a constant maturity of I year, as made ava!lhf to m y the federal Reserve Board. The most recent Index figure
<br />available as of the due 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 />Mower will give me bonier of this choice.
<br />(C) Ca edmiem of (law
<br />Before each Chow Date, the Note Holder will calculate my new interest rate by adding one & SP Vepfri gh the percentage
<br />points ( 1 875 %) to the Current index and rounding to the nearest 1 /8th of 1%. subject to the limits stated in Section 4(D) below.
<br />This rounded amount win be my new interest rate until the next Change fate.
<br />Thee Note Holder will then determine the amount of the monthly payment that would be sufficient to repay in full the principal I am
<br />expected to owe on that Change Date in substantially equal payments by the maturity dare at my new interest rate. The result of this calculation
<br />will be the new amount of my monthly payment.
<br />(D) IJMW as 1ttlteeaN Rate CheoW
<br />True �nterest rate I am required to pay at the first Change Date will not be greater than __.�._ "___!rs or less than
<br />b. Thereafter, my interest rate will never tic increased or decreased on any single Change Date by more than t percent
<br />MA from the rue of interest I have been paying for the preceding twelve months. "he minimum interest rate on this loan will never be
<br />less that —_A,. _�_..*. tad the maximum interest rate will never he greater than
<br />(F) %fheYre Dente of C'hmmgss
<br />My new interest rue wilt become effective on each Change Date. 1 will pay the amount of my new monthly payment beginning on the first
<br />moathty payment due after the Change Date until the amount of my monthly payment . hanges again.
<br />(P) 'Veda of Cl mmpa
<br />The Note Holder trill mail or deliver tome a notice before each Change Date The nonce will advise me of:
<br />(i) the stew interest rate on my loan as of the Change Date;
<br />(u) the amount of my monthly payment following the Change Date;
<br />(lit) 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 C11ARG1111. LIM
<br />Uniform Covenant 4 of the Security instrument is amended to read as follows.
<br />4, Choom Lk". Borrower shall pay all taxes, assessmenu, and other charges, fines, and impositions attributable to the Property which may
<br />tataN) a priority over this Ssicmerity Instrument, and Wambold payments of ground rents, if any, in the manner provided under paragraph 2 hereof
<br />or, if bet paw in such mummer, by Borrrower making payment, when due, directly to the payee thereof. Borrower shall promptly furnish lender
<br />aY "I= of armoisms due under this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly furnish to
<br />L4tmdu rnWpta evidencing sucb payments. Borrower shall promptly dischargr any lien which has priority over this Security instrument;
<br />htotaew►. Swrounr dint not be required to discharge any such lien to long as Borrower: (a) shaft agree in writing to the payment of the
<br />obboom t second by Mich Iwo in the manner acceptable to Lender; (h) shall in good faith contest such lien by, or defend against eniixcement of
<br />Intl Yea in, wpl proceedings which in the opinion of Lender operate to prevent the enforcement of the lien or forfeiture of the Property or any
<br />put diannaf; or (el shay secure froth the holder of such lien an agreement in a form "olfactory to Lender aubordinaling such lien to this
<br />swurity NlWUM"f I
<br />If Laadw dwerauss that all or any pan of the Property is subject to a lien which may attain a priority over this Security Insrument,
<br />Lwsdw shall give Btxrottae a noria Identifying such lien. Horrower shall taxi %fv such hen or take one or more of the actions set loith a Love
<br />within cwt dagf of the giving of the notice.
<br />C, NOTWL
<br />Utute►m Covenant 14 of the 5ecurNy Instrument is amended to read siv follows
<br />W. hones. *sleeps for any notice required Uinta applicable law io br given in another manner, tot) anb notice to Wmiower prn„ttrvl tot to III',
<br />soomelty Instrument shall he given try dellvering it or by matting if by Tito Blast mail to liotiowei at the Property Adder%, or at Nut11,,fhri AJJIC%•,
<br />+a Botrm(nrr may dasigruHe by nxntce to Lender wee ptovidad herein, and IN anv n „tine to 1 ender ,hall he pt,rn by Rita ,la„ rna,i t„ I rude
<br />a�6,d��d�ior” It" em of to such ells" address at I toiler may de,sigrtate by notice II' )Mir rtrwer a, ter,,, Ittm hrrrin
<br />{. . {rib 'ttmfir {�rl�, IJrrf t„1 tI, ill?•
<br />J{mrity Instrs(manl %halt t(e Jxemht 14, nave been RR en it, H/mr Auer (o I rr :det Ahrn po,rrf fn tier .1141 tirr'I"la mated Iserrtn
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