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In
<br />ADJUSTABLE RATE RIDER
<br />(I Year Treasury index -Rate Caps)
<br />THIS ADJUSTABLE RATE RIDER is made this - _ 2nd —day of nrtnher 19 8_5
<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 dale given by the undersigned (the "Borrower ") to secure Borrower's Adjustable Rate Note (the "Note ") to HOME
<br />FEDERAL SAVINGS A 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 />604 W. 15th, Grand Island,NE 68801
<br />(Property Address)
<br />Thin note coatwhrs provisions allowing for changes In my interest role and my moathiy
<br />payments. This new also Mmits the amount my Interest role can change at any owe time and
<br />also the xdmk m dui the maximum rate t 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 10 %. 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) ChrRe Data
<br />The interest rate I will pay may change on the first day of Nn V PmhPr '19 86 , and on that day every
<br />Z months thereafter. Each date on which my interest rate could change is called a "Change Date."
<br />(a) The Itx/a
<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 43 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 will give me notice of this choice.
<br />(C) cakeholon of Ciugea
<br />Before each Change Date, the Note Holder will calculate my new interest rate by adding two and one/half percentage
<br />points ( 2.5 a's) to the Current Index and rounding to the nearest 1 igih of I no 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 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) Linsils im latest Rate Changes
<br />The interest rate 1 am required to pay at the first Change Date will not be greater than 12 % or less than
<br />9 Wr. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than twn ---- -p r= Pro t
<br />Z from the rate of interest 1 have been paying for the preceding twelve months. The minimum interest rate on this loan will never be
<br />less than rj —___an and the maximum interest rate will never be greater than _ 14.875 vs.
<br />(E) Effective Dole of Cleaages
<br />My new interest rate will become effective on each Change Date. 1 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 />(Fl %iOiIM of Changes
<br />The Note Holder will mail or deliver tome 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 />(ii) the amount of 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 />B. CHARGES: LIENS
<br />Uniform Covenant 4 of the Security Instrument is amended to read as follows:
<br />4. Chahrpst hews. 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 notices of amounts due under this paragraph, and in the event Borrower shalt snake payment directly, Borrower shall promptly furnish to
<br />Leader rexipis 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 long as Borrower: (a) shall agree in writing to the payment of the
<br />obligation secured by such lien in the manner acceptable to Lender; fb) shall in good faith contest such lien by, or defend against enforcement of
<br />such lien in, legal proceedings which in the opinion of Lender operate to prevent the enforcement of the lien or forfeiture of the Property or any
<br />Pon this iof; or (c) shall secure from the holder of such lien an agreement in a form satisfactory to Lender subordinating such lien to this
<br />Security Instrument.
<br />If Lender determines that all a any part of the Property is subject to a lien which may attain a priority over this Security Instrument,
<br />Lender shall give Borrower a notice identifying such lien. Borrower shall satisfy such lien or take one or more of the actions set forth above
<br />within ten days of the giving of the notice.
<br />C. %Orm-t
<br />Uniform Covenant 14 of the 5ecunty gnstrument is amended to read as follows:
<br />14. !Varlet. Lxcepr for any riot ice required under applicabie law to he given in another m:,nncl, la) any nonce to 1orrower pros ided for in !his
<br />Sa:arity Imarammr mall for given b) delrvenng it nr by mailing it by firs! Class mail to Horrower at the PT,iNt!y Address of at such ,N hr, a f tor- s
<br />as Harrower mat, designate by nolcec m I cndcr as provided herein, and thl arty notice to I rude! shall N given by first cla, triad rn I
<br />address staled tlr er, use In *uch :(her eddies, as I ends! may desigrWe by nonr^ In Finrr e, as press riled hctnn 4n•, nonrr 1- ided 1- "t um
<br />tia:ur,ty instrumenl vhWl be deemed to have hrrn gtvre, t,, i3hra mwrr ,, 1_rndri whits X', ,r: the nha nnrt dr.,wn&vd here":
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<br />Mill
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