ADJUSTABLE RATE RIDER
<br />(1 Year Treasury Index -Rate Caps)
<br />6th September 19 85
<br />THIS ADJUSTABLE RATE RIDER is made this day of '
<br />sad is inewptxated into and shall be deemed to amend and supplement the Mortgage. Deed of Trust, or Security Deed (the "Security
<br />lne rusnettt ") of the same date given by the undersigned (the 'Borrower ") to secure Borrower's Adjustable Rate Note (the "Note ") to HOME
<br />.�...
<br />,AL 10aseaw a e OM figggI.ATION OF GRAND ISLAND, NEBRASKA (the "Lender ") of the same date and covering the
<br />property described in the Security Inst ummt and located at:
<br />4215 Norseman. -Grand Tglanr( NF 68803 -
<br />(Property Address)
<br />Tbb ease aoMsias pnvisloas ahowleg for clumps in my Intermit rate and soy meaddy
<br />payments. This sole W" Units the assess[ my Isteml rate eaa change at say one pace sad
<br />also the midmonm sail pre raasdmam rase 1 NNW pay.
<br />ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender
<br />farther covessat and agree as follows:
<br />A. INTFJ UW IRATE AND MONTHLY PAYMENT CHANGES
<br />The Note provides for an initial interest rate of Section 4 of the Note provides for changes in the interest rate and the
<br />mote ty payments, as follows:
<br />4. INTEREST RATE ANA ,MONTHLY PAYMENT CHANGES
<br />(A) Crump Darts
<br />The interim rate I will pay may change on the first day of October 19 86 , and on that day every
<br />tWel Ye (121—months thereafter. Each date on which my interest rate could change is called a "Change Date."
<br />(B) The Index
<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 1 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 win give me notice of this choice.
<br />(C) Cs- - -, a K CMasw
<br />Before each Change Date, the Note Holler will calculate my new interest rate by adding percentage
<br />points( 1,875 %) to the Current Index and rounding to the nearest i /8th of 1%, subject to the limits stated in section 4(D) below.
<br />Thee rounded amount will be my new interest rate until the next Change Date.
<br />The Note Hilda 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 date at my new interest rate. The result of this calculation
<br />will be the new amount of my monthly payment.
<br />(D) limos on Island Bee Clumps
<br />The interest rate I am required to pay, at the first Change Date will not be greater than _ 11.5 °a or less than
<br />8.7or5� 'ye. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than two ge rcen
<br />�� t
<br />�— from the rate of interest I have been paying for the preceding twelve months. The minimum interest rate on this loan will never be
<br />Ins this 8.75 ere and the maximum interest rate will never be greater than 1A.175—__._07e.
<br />(Bl Efhsdve Dek of Clumps
<br />My new interest rate will become effective 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) Nodes of cbmws
<br />The Note Holder will mail or deliver go Inc a notice before each Change Date. The notice will advise Inc of:
<br />(i) the new interest talc on my loan as of the Change Date;
<br />(u) the amount of my monthly payment following the Change Date;
<br />(iii) any addafonal 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 />L CHAIIGFB: UENS
<br />Uniform Covsru tot 4 of the security Instrurnettt is amended to read as follows:
<br />4. CTtargsa; Leas, Borrower shall pay all taxes, assessments, and other charges, fines, and impositions attributable to the Property which may
<br />attain t priority ova this Security Instrument. and kasdntld payments of ground tents, it any, in the manner provided under paragraph 2 hereof
<br />Oct if not paid in such manner, by Borrower snaking payment, when due, directly to the payee thereof. Borrower shall promptly furnish Lender
<br />all notim of aetoaalc this under this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly furnish to
<br />Lahti receipts evkknefng such payments. Borrower shall Promptly discharge any lien which has priority over this Security Instrument;
<br />howsva, Borrower sheen not be required to discharge any such lien so long as Bortower: (s) shall agree in writing to the payment of the
<br />oblippoa aceured by such lien in the manner acceptable to Lender; tb) shall in good faith contest such lien by, or defend against enforcement of
<br />foush ham in, kph proceedings which in the opinion of Lender operate to prevent the enforcenteni of the lien or forfeiture of the Property or any
<br />past tfsaeof. or (c) shil secure from the holder of such lien an agreement in a form vatistutory to Lender subordinating such lien to this
<br />Security to trom mi,
<br />If Leader determines that all of any put of the Property is subject to a hen which ma) attain a priority over this Security lnstrumcnt,
<br />Lender alia l give Borrower a nuke Identifying such lien. Btxrowcr shall satisfy su:h lien or take one art more of the aclions set flnth strove
<br />within tuts days of the giving of the ntnicc.
<br />C. Is M't
<br />Uniform Covenant 14 of the Security lnslrutnent Is amended to read as rotlows
<br />14, 140". lbigeW for any notice required under appficahle law to tw gt +en of another mannet, tat arts nonce to ltorrv,wer pn,s,ded lot oo stn.
<br />Security sastrumrtaal shall he gtvrn by deliveling it die by marling n h) f trot amass itlail to Item nwcr at the I'rolsrrly Addres or at catch olhev add, e„
<br />as, Borrower may drslgnate by no lKe to Lender as provided lam rirl, and ahl an, nollit it, t ender shall he a.sett by tiles , loos, ntatl t„ 1 cndel
<br />addreN stated Wein tit ?to such other addlevs as, l.Widcf rata) de®7gtlalC by notlGC I" Ile,mmct ere prmldcd hetetn Am li.in' e pro, i&d ! "I m la,
<br />Serum, lnsituri shall he deemed to have bctn olven to hort"wel m I ender wheat xtvcn of the tua+utei nen•tn
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