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P-�- -004795
<br />ADJUSTABLE RATE RIDER
<br />(1 Year Treasury Index -Rate Caps)
<br />THIS ADJUSTABLE RATE RIDER is made this 30th _dayof September 19 85
<br />and is 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 date given by the undersigned (the "Borrower ") to secure Borrower's Adjustable Rate Note (the "Note ") to HOME
<br />FIEDERAL SAYINGS & 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 />#26 Via Como, Grard Island, Nebraska 68801
<br />(Property Address)
<br />This toe comalns previsions allowing for rbanges in my interest rote and my monthly
<br />payments. This note also Wallis the amount my interest rate can change at any one time mad
<br />tdsn the militiaman ad the matdma s rate 1 most 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 — g�5 - -ro. Section 4 of the Note provides for changes in the interest rate and the
<br />monthly payments, as follows:,
<br />4. INTEREST RATE AND .NONTHL y" PAYMENT CHANGES
<br />(A) CUW Dom
<br />The interest rate I will pay may change on the first day of ` oche Z_ _ , 19 8E and on that day every
<br />) 2 months thereafter. Each date on which my intere t rate could change is called a "Change Date."
<br />(a) The ln/ea
<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 date 41 day's before each Change Date is galled 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 />Holler will give me notice of this choice.
<br />(C) Cah alnd" r t cha t "
<br />Before each Change Date, the Note Holder will calculate my new interest rate by adding %� e va; Gig, ,t= percentage
<br />pants ( LEI; a7 %) to the Current Index and rounding to the nearest 1/8th of I?'e, 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 Note Holder will then determine the amount of the monthly payment that would he sufficient to repay in full the pnncipal 1 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) LMnih on Intereat Rate Cha ft"
<br />The interest rate 1 am required to pay at the first Change M�.c will not he greater than >•' _4o or less than
<br />R- 7' %. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than ,[!,
<br />( 71) from the rate of interest 1 have been paying for the preceding twclyc months. The minimum interest rate on this loan will never be
<br />less than __a. S— _.___... ao and the maximum interest rate will never he greater than
<br />(E) Effective Doe of Chnages
<br />My new interest rate will become effective on each Change Dale. I will pay the drnouni 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) Notice of CYaops
<br />The Note Holder will mail or deliver to me a notice before each Change bate. The noiwv will ads ise mr nf:
<br />fit the new interest rate on my loan as of the Change [)ate;
<br />44 the amount of my monthly payment following the Change Date;
<br />(iii) any additional matters which the Note Holder is required io cliuiow; and
<br />(iv) the address of the association you could contact regarding any questions about the adjustment notice.
<br />B, CHANGES; IJEN%
<br />Uniform Covenant 4 of the Security Instrument is amended to read as follows:
<br />4. Chrtim; Limits. Borrower shall pay all taxes, amw%tintents, and other charges, fines, and impositions attributable to the Property which may
<br />aruin a priority over this Security Instrument, and le"hold payments of ground rents, it any, in the manner provided under paragraph 2 hereof
<br />or, if not paid in such manner, by Borrower making payrnem. when due• directly to the payee thereof Borrower shall promptly furnish Lender
<br />all notices of amounts due udder thin paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly furnish to
<br />Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Secunty Instrument;
<br />however. Borrower shaft not be required to discharge any such lien so long as Borrower la) shall agree in writing to the payment of the
<br />obligation secured by such lien to the manner acceptable to Lender; Of shall in guod faith contest such hen by, or defend against entorcentern of
<br />such lien in, kpd prtxtedmgs which in the opinion of tender operate to prevent the enforcement of the lien or forfeiture of she Property ter any
<br />put thereat; or (c) shall secure from the holder Of such lien an agreement in a torm sattstactory to Lender subordinating such lien ut this
<br />SKitrrity lrstrumeat.
<br />If Lender determines that all of any part of the Property is subject to a lien whn:h may altam a pnonty over the $eCu I , Instrument,
<br />L.erukr shad give lintrower a notice identifying such lien. Borrower shall sausify such lien ter take use m more of the acnons set forth ahusc
<br />wilhnn ten days of the giving of the rasher.
<br />Uniform Covenant 14 of tht Sccur :ty insirumem t•. amended I :cad a, oIlow,.
<br />14. %aa s*. Facept fox any rw_ntee regtured under appl,cahle law t„ he ?torn ui ani,lhcr n An,,r,, ial ar.+ n„utr so Hex: morn I led 1 n: tote,
<br />`purity inviramaent +hall he given by 0el,vennx 0 t,y nurhng it t,v lint ,loss. tr,a I ... iNarow rr :,j t)tr 1'n tmr.s \dJrr.. ter .s; �i „ii : ,, :1Jt�•ss
<br />as gloMrower naafi 1"tgnale hg ranee m Isnder as I ded heron,, and Ihi sn, i.. :,. I ^ndrr ,h.il i.r a, •, ,•n h, t„., .lass ,nail I . nJer
<br />addreca c1a1,t1 heron or so „mot; rthet add +rss a, I ender it,a> des,gna=e i n 1, r
<br />`�.wm lnxU Urrrr rat 0,411 t,,r averae-0 bra ha•c h,•c, it "'n f" ff ,trowit s• I -,.d N',
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