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ADJUSTABLE RATE RIDER Q
<br />(1 Year Treasury Index -Rate Caps) 85-.- 004842
<br />THIS ADJUSTABLE RATE RIDER is made this 2nd day of nr nher ,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 Rue Note (the "Note ") to HOME
<br />EM_RAL SAVIN" i LOAN ASSOCIATION OF BRAND ISLAND NEBRASKA (the "Lender ") of the same date and covering the
<br />property described in the Security Instrument and located at:
<br />1903 South Locust, Grand Island, Nebraska _ 68801
<br />(Property Address)
<br />TMs hate co false provpepotu allowing for clmnges in ray lot~ rate Rod my atonrily
<br />paymeata• Tih note oho Rods the amount my interest rate can choose at nay one time and
<br />aho tie tninimttm and tine Maintain rate I nest pay.
<br />ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender
<br />furtha covenant and agree as follows:
<br />A. INTEREST RATE AND MONTHLY PAYMENT CHANCES
<br />The Note provides for an initial interest rate of 1 i _07o. Section 4 of the Note provides for changes in the interest rate and the
<br />monthly payments, as follows:
<br />4. LNTEREST RATE AND AfONTHL Y PAYMEN7' CJJA,VGE.S
<br />(A) Chugs Dates
<br />The interest rate t will pay may change on the first day of - PJovember___ 19 86 _ and on that day even
<br />_ months thereafter. Each date on which my interest rate could change is called a "Change Date."
<br />(B) 71* 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 I 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 Indent 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) Caknthttion of Changes
<br />Before each Change Date, the Note Holder will calculate my new interest rate by adding _ �I a _ percentage
<br />points ( 3.0 eh) to the Current index and rounding to the nearest I /8th of 107e. subject to the limits stated in Section 44DI Wow.
<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) Lleafton Interest Role Clnngea
<br />The interest rate I am required to pay at the first Change Date will not he gteater than , 7. -___ er
<br />0 or less than
<br />1 L %, Thereafter, my interest rate will never be increased of decreased an any single Change Date by more than t WO
<br />21, i from the rate of interest I have been paying for the preceding twc hr months, file minimum interest rate on this loan will never he
<br />less than _ ?_ ItAe and the maximum interest rate w iii never be greater than a' ®.
<br />(E) Effective Date of changes
<br />My new interest rate will become of foci iye on each Change Date. t will pay the amount of my new monthly payment beginning on the first
<br />monthly payment date after the Change Llano until the amount of my montlit payment Change. again,
<br />(E) Notice of Chaagss
<br />The Note Holder will mail or deliver to me, a nonce before each Change lmate. The nonce wlil adeise me u1:
<br />(I) the new interest rate on my loan as of the( hange Uatc,
<br />(it) the amount of my monthly payment following the Change Date;
<br />(iii) any additional matters which the Note Holdet is requited to disclose; end
<br />(iv) the addrtm of the association you Could contain regarding any question; about Itie adf us[ men I notice.
<br />S. CHARCFS; L1ENs
<br />Uniform Covenant 4 of the Security Instrument is amended to read as billow,
<br />4. CYargm; Um. Borrower shall pay all taxes, assessments, and other charges, fines, and Impositions attributable to the Property which may
<br />attain At priority over this Security Instrument, and leasehold payments oI ground tents, If any, rat the manner provided under paragraph 2 hereof
<br />ot, if not paid in such manner, by Borrower making e
<br />g paynt, when due, directly to the payee thereof. Borrower shall promptly furnish lender
<br />all notices of amounts due under this paragraph, and to the event Borrower shall make payment directly, Borrower shall promptly furnish to
<br />Leader receipts evidencing such payments. Borrower ;hall promptly discharge any ben which has priority over this Security Inytrumenr
<br />however, Borrower shall not tee required to dlsetarge any such lien so long as Botr('wer: (a) shall agree in writing to the payment of the
<br />obligation secured by such lien to the manner acceptable to Lender, (b) shall in gnarl faith 1.011 [01 wilt lint by, or defend against cnforcement of
<br />Mach lien in. legal proceedings *W- in the opinion of l.eudet operate to preynu the cntorcement of the lien or forfeiture of the Property or any
<br />Pan thereof; a (c) shall swore front the holder of such lien an agreement in it form saastacI0ry to I ender subordinating such lien to tt„s
<br />Security Instrumorm.
<br />If lm%Ja drtermies that all or any part art the Property is udble t to a lien wturh may attain a plltirlty dyer It115 ,,ecurl y Inenunical.
<br />Lender shall give Borower to notice identifying such hen. Itorn,we, shall satisfy • -0rh Idrn or take one ur more oI file anions set 101111 abosr
<br />within tear days of the giro ing of the not a e.
<br />C. %MKI.
<br />tttnfixm ( nyetram 14 of the titrunty lnsttument is ann•nded In read as 1 ;,iIow,
<br />14. N *Oft. ih,.tpt lot any rwill,c requtrt'd undet afplitahle• law i" he token o! 4 libel manner, fat "'N n• It, :o it u.... ft 1• n: it!"
<br />4reutity;nsi turivni sieall tee given by nfelurenng !! ur by mauling, n bra flat'1au mad to H,;r, :parr a! Ili ;' I'ny,ein •xddrr,t ,,: al ,u, 1, o11;n Addlt)�'
<br />as Flort"er mils, dMIenate by nr>bcr to I rode, as pnna)ed helm, ansl thj
<br />wki+ree ara!rei hit ern r,r to adah other a.ld+ryy as I cndrr gnat de +lgaa!r hs tar,!;. r , If :, •,•we: a. !, fir! !;a r- 1m ! . I . n! : -r 1.. t ; :.
<br />"xv.:arvey tikalrurrrm ,txyif 6M'i"ifted sit ha" hoe'n 0",f i,., Byrn love: ,n ;
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