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85--- 004798
<br />ADJUSTABLE RATE RIDER
<br />(l Year Treasury Index -Rate Caps)
<br />THIS ADJUSTABLE RATE RIDER is made this 24th day of September 19 SS
<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 />awsaut SAVINGS a LOAN ASSOCIATION OF GRAND ISLAND, NEBRASKA (the "Lender ") of the same date and cosering the
<br />property described in the Security Instrument and located at:
<br />4612 Deva Drive, Grand Island, NE 68801
<br />(Property Address)
<br />This most contains provWoas allowing for changes In my Interest rate and my monthly
<br />payments. This mote also limits the amount my Interest rate con change At say one time and
<br />Ohio the n kih sat the ma:dmme rate I must 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 in %a. 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 1 will pay may change on the first day of October , ly 86 and on that day every
<br />12 months thereafter. Each date on which my interest rate could change is called a "Change Date."
<br />(S) Thelma
<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 lode[ is no longer available, the Noe Holder will choose a new index which is based upon comparable information. The Note
<br />Holder will live me notice of this choice.
<br />(C) Ctleah im of Changes
<br />Before each Change Date, the Note Holder will calculate my new interest rate by adding two & ore -half percentage
<br />points ( 2-5—%) to the Current Index and rounding to the nearest 1 /Bah of I %, 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 be 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. The result of this calculation
<br />will be the new amount of my monthly payment.
<br />(D) Limils as Inunin Rate Changes
<br />The interest rate 1 am required to pay at the first Change Date will not be greater than 12.0 _ %a or less than
<br />4 n %. Thereafter, my interest rate will never be increased or decveased on any single Change Date by more than f uln
<br />(9%) 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 />Las than q In % and the maximum interest rate will never be greater than _ 14 - R75 —.4s.
<br />(E) Effective Date N Changes
<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) Notice of Changes
<br />The Note Holder will mail or deliver to me a notice before each Change Date. The notice will advise me of:
<br />(i) the new interest rate on my loan as of the Change Date;
<br />(N) the amount or 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 of the association you could contact regarding any questions about the adjustment notice.
<br />>L CBARGNS. LIENS
<br />Uniform Covenant 4 of the Security Instrument is amended to read as follows:
<br />4. Charges; IJsas. Borrower shall pay all taxes, assessments, and other charges, fines, and impositions attributable to the Property which may
<br />attain a priority over this Security Instrument, and leasehold payments of ground rents, if any, in the manner provided under paragraph 2 hereof
<br />or, if not paid in such manner, by Borrower making payment, when due, directly to the payee thereof. Borrower shall promptly furnish Lender
<br />all notions of amounts due under this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly furnish to
<br />Loader receipts evidencing such payments, Borrower shall promptly discharge any lien which has priority over this Security Instrument;
<br />however, Borrows shW not be required to discharge any such lien so long as Borrower: (a) shall agree in writing to the payment of the
<br />obligation secured by such flat in the manner acceptable to Lender; (b) shall in good faith contest such lien by, or defend against enforcement of
<br />such Nat fn, legal proceedings which in the opinion of Lender operate to prevent the enforcement of the lien or forfeiture of the Property or any
<br />pat thseoh or (c) shall secure from the holder of such lien an agreement in a form satisfactory to Lender subordinating such lien to this
<br />Seco ity lastromiml.
<br />If Leader determines that all or any part of the Property is subject to a lien which may attain a priority over this Security flalrumenl,
<br />Lander shalt give Borrower a notice identifying such lien. Borrower shall sari• .y such hen or take one (it more of the Actium set forth atone
<br />within tea days of the giving of the notke.
<br />C. NOTICE
<br />Uniform Cov~l 14 of the Security Instrument is amended to toad as follows:
<br />14. No". Except for any n(NKY required un let applicable law Io be Rived to ano(hrl rnaelrtrt, (at any (IN itP it) Rol Iowel pu,uded tar ;n tau,
<br />Security Imtrument shall be given by delivering it or by retailing it by first class retail m Hon rawer at Ihr Propel a ,Xddrr,, or it such ul Ito mhhe,,
<br />As Wairower may designate by notice to Lender as provided herein. and (bl an) nuns t" I coder ,ball Iv II-11 In t,r,t coat, mall n.: I t•ndr;',
<br />Addeo vaned herein or to such office address as Lender may designate by notice, lac H ...... c, a, pru„drd he col NoN a,u;. c• p,,,,,,Ind I�.; ,n Ihn
<br />tsc,urIty Inn I unrroI [half be dermod I" have been a49en tV hk,frn;wrt ur t cndrr, when xn,•rI m the ;ram acid tlrvr.na;ed h,-,cm
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