F
<br />85-004117
<br />ADJUSTABLE RATE RIDER
<br />If Year Treasury Index -Rate Caps)
<br />THIS ADJUSTABLE RATE RiDER is made this 21St day of August 19_,
<br />and a incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security
<br />Instrument ") of the same due given by the undersigned (the "Borrower ") to secure Borrower's Adjustable Rate Note (the "Note ") to HOME
<br />FEDERAL SAYINGS A LOAN ASSOCIATION OF GRAND ISLAND, NEBRASKA (the "Lender ") of the same date and covering the
<br />property described in the Security Instrument and located at-
<br />1320 Lilley,_Wood River, NE 68883 _
<br />^^ (Property Address)
<br />TW soft troNNns provisions allowing for changes In my interest rate and my monthly.
<br />payments. Thk tote also limits the *meant my iurml rate can change at any one time and
<br />also else itmimimism *md the maximum rule I mast 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 CHANGES
<br />The Note provides for an initial interest rate of 10 _47s. Section 4 of the Note provides for changes in the interest rate and the
<br />monthly p*ymants, as follows:
<br />4. LWEREST RATE AND MONTHL Y P.4 YME.'VT CHANGES
<br />The interest rate I will pay may change on the first day of September _ 19 86 and on that day every
<br />twelve months thereafter. i.ach date on which my interest rate could change is called a "Change Date."
<br />(a) The trades
<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 dale 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) Cakdad" of CA*tyes
<br />Before uch Chartre Date, the Note Holder will calculate my new interest rate by adding, two and one —half peace cage
<br />points (_5U %) to the Current Index and rounding to the nearest I llth of 147e, subject to the limi�s 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 fall 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 result of this calculation
<br />will be the new amount of my monthly payment.
<br />(D) IJmNts on Inserts* Rate C ►*urges
<br />The � QiQnterest rate I am required to pay at the first Change Date will not he greater than ... _ 2. _ °'o or less than
<br />=� r< ": r Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than tW0 pereen t
<br />from the rateof interest 1 have been paying for the preceding twelve rnonth,. The minimum interest rate on this loan will never be
<br />leas than ___gs Q�____vt and the maximum interest rate will never he greater than _1_4 "75---
<br />(E) Effective Date of ClItrages
<br />My new, interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment t,eginnuig on the first
<br />monthly payment date after the Change Date until the amount of my monthly payment changes again.
<br />(t') NotSOe of Cbags
<br />The Note Holder will mail or deliver to me a notice before each Change Date The notice sill ad,nc me of
<br />(i) the new interest rate on my loam 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 oft he association you could contact regarding any questions about the adjustment notice.
<br />B. CHARGES; LIENS
<br />Uniform Covenant 4 of the Security Instrument is amended to read as follow!.
<br />4. Chen: items. Borrower shall pry all taxes, assessments, and other charges, fines, and impositions attributable to the Property which may
<br />ffitaim a priority over this Security Instrument, and leasehold payments of ground rents. it any, in the manner provided under paragraph 2 hereof
<br />or, if trot paid in such manner, by Borrower making payment, when due, directly to the payee thereof. Borrower shall promptly furnish I ender
<br />rail notim of amounts due under this paragraph, add in the event Borrower shall make payment directly, Borrower shall promptly furnish to
<br />tender reoetpts evidencing such payments. Burrower shall promptly discharge any lien which has pncninv over this Security lnstrunsent;
<br />however. Borrower shall not he required to discharge any such lien so long as Borrower (a) shall agree in writing to the payment of the
<br />~ion secured by such Imes in the manner acceptable to Leader, (h) shall in good faith contest such lien by, or depend against cntotcement of
<br />such hen in. I"W procetdingt which in the opinion of !.ender operate to prevent the enforcement of the hen or forfeiture of the Properly or any
<br />put thereof; or (c) "I secure from the holder of such hen an agreement m a form satisfactory to I.endes subordinating such lien to this
<br />Security instrument.
<br />H Lender determtttes that all or any part of the Propert iv suh)es:t to a hen whrvh mat 4nam a priority over this SMAIT11y Instrument,
<br />Lender *MR give Borrower a notice idemi(ying such hen Borrower shall samsly such lien or take oitc or more of the actions sea forth above
<br />within ten days of the giving of the rue nn e
<br />LTK.:
<br />UnitormCmenantt4of the Ne urur Imirumemis amended t „,fa • ia,[n!(,.ws
<br />14. hamesr. I!.%cm fix any nr.un.e required under apph.ahk law t., tie gi,eo m an •v ,er manner, tat 'l Is notice u, B ...... ac: pl -S'i'd 1”, ut flu.
<br />Sec'urns Instrument shall ht givrn its dehsermg a or by rustling it by lust ,.la,, nia,i to Iforr„wei at the i'r„p e't, \ddre" ,,, at .u, 1,..,ther add,e"
<br />at huri —ef may designate by nolue c„ I ender as pf".rtrd herein. »red ti,, an, .,.., :.r n, I c,,,let 01411 tv W!,tn t•, ',i,t ,!as :ail i end..
<br />adlrem tiared h"ev rrr I,, su.fi gather Addle., as I etrdel ruas Orel Half rat n,+t,, , , s ,
<br />g e ; : Se �! err a .fe i trr�e n \ , , , .:, r t', ,,(<a • ..,I i t,,.
<br />'>er .ea rev lnotrottwnt st;at.l rw ;lteir,ra i•r ho'e. BTrr, gtser= to ti+vmwr• :,t I e-e,6e! wiser. a .rn ,r ,ear :n• - ... ,,I.vc t,-,,,,, ..
<br />_J
<br />
|