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ADJUSTABLE RATE RIDER $ ` 0047,58
<br />(I Year Treasury Index -Rate Caps)
<br />THIS ADJUSTABLE RATE RIDER is mare this 27th day of September ,198_,
<br />sad it iocorpoated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deeo (the "Security
<br />1 ") of the same date giver by the undersigned (the "Borrower ") to secure Borrower's Adjustable Rate Note (the "Note ") to HOME
<br />MWI& d)iA1EW ! LOAN ASOOC1ATMN OF GRAND ISLAND, NEBRASKA (the "Lender ") of the same date and covering the
<br />property dwcril a t in the Security Instrument and located at:
<br />R. R. #2, Grand Island, Nebraska 68801
<br />(Property Address)
<br />TMs an" eangNa peavifon ■Bowing for changes is my Werert rate sad my moNMy
<br />pay r■a■d. This now miss No" the see at ray Interest rate can change at any one brae sod
<br />mho tdae nN■It and the ■mudtr•ttt rah I naaw 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 __q - 5 46. Section 4 of the Note provides for changes in the interest rate and the
<br />Monthly payments, as follows:
<br />4. INTEREST RATE AND MONTHLY PAYMENT CHANGES
<br />(A) Change Dow
<br />The interest rate I will pay may change on the first day of Oc t obe i _ _ _ �^ 19 86 _ , and on that day every
<br />months thereafter. Each date on which my interest rate could change is called a "Change Date."
<br />(B) Thelndn
<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 fate 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) CalsaaYoa of Chang"
<br />Before each Charge Date, the Note Holder will calculate my new interest rate by adding. ore & sever'- eiar)ht5 --percentage
<br />Points 1 1 _ A75 4►) to the Current Index and rounding to the nearest I /gbh of 14174, 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 Noe Holder will then determine the amount of the monthly payment that would he sufficient to repay in full the principal 1 am
<br />expected to owe on that Change Date in substantially equal payments by the maturity date at my new interest rate. 'rhe result of this calculation
<br />will be the new amount of my monthly payment.
<br />(DI Liwlas as I■awws Rate Changes
<br />The interest rate I am required to pay at the first Change Date will no! he greater than ... _______°e or less than
<br />A -7Cl as. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than - t:w❑
<br />�L,eis) from the rate of interest I have been paying for the prarding twelve months. The minimum interest rate on this loan will never he
<br />less than R 7S ----% and the maximum interest rate will never be greater than
<br />(E) Eflaal" Dow of Cho*"
<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) Nis" of chow"
<br />The Note Holder will mail or deliver to me a notice before each Change Date. I'he notice will advise me of:
<br />(1) the new interest rate on my Ican as of the Change Date;
<br />(if) the amttumt of my momhiy payment following the Change )ate;
<br />(in) any additioaW matters which the Noe Holder is requited to disclose; and
<br />(iv) the address of the association you could contact regarding any questions about the adjustment notice.
<br />B. CNA111IGM: LILAifi
<br />Unifom Covenant 4 of the Security Instrument is amended to read as follows:
<br />4, Gager LI M. Borrower shall pay all taxes, assessments, and other charges, fines, and imfsosttioa,h attributable to the Property which may
<br />altal■ a priority over this Security Instrument, and lessehold payments of ground rents, if any, in the manner provided under paragraph 2 hereof
<br />rat, if nee paid in such manner, by Borrower making payment, when due, directly to the payee thereof. Borrower shall promptly furnish Lender
<br />IN nolim of amounts due under this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly furnish to
<br />Lander receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument;
<br />however, Borrower shall not be required to discharge any such lien so Ions as Borrower: (a) shall agree in writing io the payment of the
<br />tthBgatian uncured try such liar in the rnaetneir Mseptabk to Lender; (b) shall in good faith contest such lien by, or defend against enforcement of
<br />such Nan ice, bpl proceedings which in the opinion of Lender operate to prevent the enforcement of the lien or forfeiture of the Property or any
<br />past thweof, or (c) shall secure from the bolder of such lien an agreement in it form satisfactory to Lender subordinating such lien to lhis
<br />SKW* hwtwdm m.
<br />If Leader detirmiaw float all or any put of the Property is subject to a lien which may attain a ;niorily over this Sccuritv Instrument.
<br />Ltudar shall give Somrwer a notict identifying such lien- Borrower shall satisfy such lien rat take ,.r or more of the actions set forth aho%r
<br />within tan days of the giving of the notice
<br />C. NOTICT
<br />Uniform Covawant 14 of the Security Instrument is amended to read as follows:
<br />N. 'Willer. Except for any notice required under appikable law to he gisen in another manner, reel say nott,e Ii, Borrower ploN Ord form ihi,
<br />!hurry Im,Frrueswwd A l s o he girew by d elivtnng it or by mailing i t by first t lees mail it, Rot I,Pei at the Pr,sfeerty liddre,,or at ,u. h o t her addle,
<br />a 1ho r~ may designate by notice to Lender as Irt,%Ide l herein, and thh am nester to Lender shall )?e s;, ,m be rc,i '14" mail 10 I ender'.
<br />address stated heresn,r to t Kfi other addrtvs as I ender may designate by no)rtr to &*mower ;rs pr,w iced he+ru•, An, m,n•e prvr nh�.t !,•, �n th:,
<br />Sa:Knty ltm,dranrent shatI he deemed 111 hasc treery siren to Nest mower ry I.rndet when x„cn m the mnnnri ,lecreflatol ticreftt
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