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85- 00538*
<br />ADJUSTABLE RATE RIDER
<br />(I Year Treasury Index -Rate Caps)
<br />THIS ADJUSTABLE RATE A1DER is made ibis 28th day of October ,1985
<br />j� and is incorporated into and shall be deemed to amend and supplement the Mortgage. Deed of Trust, or Security Deed (the "Security
<br />IInstrument ") of the same date given by the undersigned (the "Borrower ") to secure Borrower': Adjustable Rate .'vote fthe "Note ") to HOME
<br />FEDERAL SAVINGS S LOAN ASSOCIATION OF GRAND ISLAND, NEBRASKA (the "tender ") of the same date and covering the
<br />property described in the Security Instrument and located at:
<br />609 S. Stuhr Road Grand Island. N_ 68801
<br />(Property Address)
<br />Tin mole contain provisions "owing for changes in my interest rate and my montMy
<br />payments, This note also limits the &mogul my interest rate can change at man one time and
<br />also the a diamm and the inaxim ma rate I must Pay.
<br />ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument. Bsxtower anal I.tndr.
<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 9-5 �'o. Section 4 of the Note rroytdes for chzngcs !n the iniercnt -at and the
<br />monthly payments, as follows:
<br />4. L%77EREST R,4TE.t?dD .AfO.VTHL I' R9 )'.NE. %'T ('H,4.VGES
<br />4A) (hinge Dales
<br />The interest rate I will pay may change on the first day of ! tI __ , and or: that da, even
<br />12 months thereafter. Each date on which mp interest rate could change is called a, Date."
<br />(11 TIW Index
<br />Beginning with the first Change Date, my interest rate will he haled on an Index The "Index-' �s the weekly average yield on L rned State.
<br />Treasury securities adjusted to a constant maturity of 1 year, as made available by the federal Reserve Board. The most recent, Index ',inure
<br />available as of the dater days before each Change Date is tailed the "Current Index "
<br />If the Index is no longer available. the Note Holder will choose a new index which : based upon comparable information. The Notc
<br />Holder will give me notice of this choice.
<br />40 Calcmrtiom of Chttmga
<br />Before each Change Date, the Note Holder will calculate my new mieresi rate t y adding O'le K SeV PIIZP i gh t S __ per :enrage
<br />points ( 1.875 ire) to the Current Index and rounding to the nearest 7. Bt;: ci 1 re, subject to the !:mtis stated m Section 4(Di tieioss.
<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 :hat would ee sur`icani to repay in fu!i the , ^r!napai i
<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 talc iat:on
<br />will be the new amount of my monthly payment.
<br />4D) Limos on Iss rest Rate CluMtes
<br />The interest rate 1 am required to pay at the first Change Date !1 pot he create, than _ 11.5 r, o- its, than
<br />8_ 75rv_'Thereafter, my interest rate will never be increased or dec t:Ascd on any single Change Date by more than `WC "EY -P ^t
<br />from the rate of interest i have been paying *or the preceding twel•.e monl hs. The mmunum interest rate on this loan will nelet he
<br />less titan 3 - 75 N and the maximum interest rate will pct, eT be greater than
<br />4E) Effective Dow of Chntges
<br />My new interest rate will become effert.ve on each C hange Bate. I will pay the amount at m> new monthly payment b:ginn!ng ot, inn firs!
<br />monthly payment date after the Change Date until the amount of tap montiiiy payment changes again.
<br />4F) Notice of Cbyes
<br />The Note Holder will mail or deliver to me a nOtiee tictorn each Chance Date. The no :ice will ads eve me of
<br />If) thenew interest rate on my loan as of the Change Date:
<br />till 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 />tiv) the address of the association you Jould contact regarding any questions about the adiu5;mcnt notice.
<br />a. CHARGES; LIENS
<br />Uniform Covenant 4 of the Security Instrument is amended to i ead as follows:
<br />4. Charges. Litre. Borrower shall pay all taxes, assessments, and other charges, fines, and imposinors attributable to the Property which may
<br />attain a priority over this Security Instrument, and leasehold p aIimcnts of ground rents, if am, in the mariner provided under paragraph 2 hereof
<br />or, if not paid in such manner, by Borrower making payment, when due, directly to the payer thereof. Borrower shall promptly furnish Lendet
<br />all notices of amounts due under this paragraph, and in the event Borrower shall make payment directh. Borrower shall promptly furnish to
<br />Leader receipts evidencing such payments. Borrower shall promptly discharge ant lien which has priority over this Security Instrument:
<br />however, Borrower shall no he required to discharge any such lien so long as Borrpis : fat shall agree in writing to the payment of the
<br />obligationsecured by such hen in the manner acceptable to Lender: IN shall in good faith contest such lien try, of defend against enforcement of
<br />such lien in, legal proceedings which in the opinion of Lender operate ro prevent I he enforcement of The hen or lotfenure of the Property or any
<br />part thereof; or (c) shall secure from the holder of such lien an agreement in a form satisfacton io Lender subordinating such hen to this
<br />Security Instrument.
<br />If Lender dem mines that all or any part of the Property is subject to a hen which map attain a prioritv ovet this Security Instrument.
<br />Lender shall give Borrower a notice identifying such lien. Borrower shall satisfy such hen nt take uric of more of the acrions FcT lonh afa >.e
<br />within tern days of the giving of the nonce.
<br />LC. ti01WF
<br />Uniform Covenant 14 of the Security Instrument is amended n, read as follow,:
<br />34. Nallia. Except for any notice required under applicable law to he given ;n another manner. to i any non', u, Borrnwt•t 7'ro, ided !„r at !ht,
<br />Securhy Instrument shall be given by delivering nor by mailing a by lust class mad io Rornwet at tic 11mperrt address „i a1 sm!, he!
<br />as Borrower may drsignatt by notice to Lendet as provided hcrun, and 1h1 any nonce !" I rode! 0141! i,r -nd,
<br />address vtated noun pr if, ,uch other address as Lendet map dc,,gnate by nonce• to n,ItI, t cif
<br />Security ln,n'ument •:hall tic demand io halt hatn a,•en v, B+irr ,err �t 1 ender amen y „, co "� !t,r nuennr� .t- . :ct,a!r.1 lair car
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