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ADJUSTABLE RATE RIDER 95.. 004038 (1 Year laden— Payment Cap) THIS ADJUSTABLE RATE RIDER is made this . ... 2.l.St day of ............. All"PAt:................... , 19 85.... , and is incorporated into and shall be deemed to amend and supplement the Mortgage. Deed of Trust or Security Deed (the "Seevrity Inumment") of the same date given by the undersigned (the "Borrower ") to secure Borrower's Adjustabk Rate Now (the "Note ") to ...... y` u ..P? ror._Mort:gage,...Inc...... P.O....Box 168.. ........................... (the "Lender ") of the same date and covering the property described in the Security Instrument and located at .... ............................77. E,...9tht Graru% Island, NE 68801 I Prupeny Address I THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE MONTHLY PAYMENT. THE BORROWER MAY LIMIT MONTHLY PAYMENT INCREASES TO 7%% EACH YEAR IF THE PROVISIONS OF THE NOTE PERMIT IT. AzorrwreAtL ComiiAmm In addition to the oovenants and agreements made in the Security Instrument. Borrower and Lender further oovenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of-110-75.— %. The Note provides for changes in the interest rate and the monthly payments, as follows: 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES; BORROWER'S RIGHT TO LIMIT PAY - M ENT (A) Cbstage Dates The interest rate 1 will pay may change on the first day of _ 'L._Iy.....___.. _ .... 19 .66...... and on that day every 12th mouth thereafter. Each date on which my interest rate could change is called a "Change Date." (B) The Itadex Beginning with the first Change Date, my interest rate will be based on an Index. The "Index" as the weekly average yield as United States Treasury securities adjusted to a constant maturity of 1 year, as made available by the Federal Reserve Board. The most recent Index figure available as of the date 45 days before each Change Date is called the "Current Index." If the Index is no longer avadabte. the Note Holder will choose a new index which is based upon cumparable information. The Note Holder will give me notice of this choice (Cl Calculation of Changes Before each Change Date, the Note Holder will calculate my new interest rate by adding ?ne anc . ••.�•IX77*•rot. h` .. percentage points ( _ �1 to the Current Index. The Note Holder sul will then round the ret of this addition to r.he nearest one- eighth of one percentage point (6 125%) This rounded amount will be my new interest rate unfit the next Change Date The Note Holder will then determine the amount of the monthly payment that wuuld be sufficient to repay the unpaid principal that I am expecud to owe at the Change Date in full on the maturity date at my new interest rate in wbstanualiy equal payments. The result of this calculation is called the "Full Payment " It will be the new amount of my monthly payment unless 1 choose the amount permitted by Section 4( F) below (D) Etectise Date of Changes My new interest rate will become effective on each Change Date i will pay the amuunt of my new monthly PAYmetu begiuung on the first monthly payment date after the Change Date until the amount of my munthly payment change agara. (E) Nuke of Clanger The Now HoWr wti) deliver or mall to me a notice of any changes in my interest rate and the amount of : i,, monthly payment before the effective date of any change The notice will include information required by law to be given me and ale the utk and telephone number of a person who will answer any question I may have regarding the notice. (F) Borrower's Rigbt is Llinis Monthly Payment Unless Serlaotts 4(H) and 4(s) below will not permit me rte do so. I may choose to limit the amount of my ors. matshly paYmenr following a Change Date to the amount I hale been paying multiplied by the number 1 075 Ilea aatouttt is Called the "Limited Payment." If I choose a Limited Payment as my monthly payment, 1 must aise the No" Haldar awke that 1 ass doing so at least IS days before my first new monthly payment is due. (G) AtfltkiMa to My Uapaid Principal LIf I chose to pay the Limited Payment, my monthly payrneni caul) be Icss than ncc amuunt ul the rn:etc,t portion o<the monthly payment that would he sufficient to repay the unpaid principal 1 oue at the m r.ihis �asmrn! date in full on the maturity date in substantially equal payments if sa. each month that the L;m:u d I'as merit , ic„ than the Interest portion, the NOW Holder will subtract the L.imued PaNmenl from the amount .,l the nt:ctc,, rUATt11rATg AOA41ANA kATa MINA -1 Tom TnsMwr knee —sus rv..a.-.. nwa riicrc u-N.. wt l ,... , , .. „ R