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t 85-- 005775
<br />ADJUSTABLE RATE RIDER
<br />(I Year Treasury Index-Rate Caps)
<br />THIS ADJUSTABLE RATE RIDER is made this __ 21S t day of _ NnvPmhPr _, 19 9S _,
<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 SAVINGS i 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 />1107 W. 6th, Grand Island, NE 68801
<br />(Property Address)
<br />This note contains provisions allowing for changes in my interest rate and my monthly
<br />payments, This note also limits the amount my Interest rule can change at any one time and
<br />also the miNmam and the maximum 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 CHANCES
<br />The Note provides for an initial interest rate of _ C) °/o. Section 4 of the Note provides for changes in the interest rate and the
<br />monthly payments, as follows:
<br />4. INTEREST RATE AND MONTHL. Y PA )MENT CI LANGES
<br />(A) Change Data
<br />The interest rate 1 will pay may change on the first day of December 1 , ` 19 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 />(a) The Ind"
<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 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) Calculation of Changes
<br />Before each Change Date, the Note Holder will calculate my new interest rate by adding One & seven /eights percentage
<br />points 1 1- 87 5 °'s) to the Current Index and rounding to the nearest 1; 8th of 1 ° %o, 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 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) Limits on Interest Rat Changes
<br />The interest rate "I am required to pay at the first Change Date will not he greater than 11 e 5 —_Q° or less than
<br />8-75 %. Thereafter, my interest rate will never be increased or — creased on any single Change Date by more than rWQ percent
<br />_ , ) from the rate of interest I have been paying for the preceding twelve months The minimum interest rate on this loan will never ire
<br />less than 8.75____ ____.w# and the maximum interest rate will never he greater than
<br />(E) EttK*vt tat of Chatsgea
<br />My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment beginning sin the first
<br />monthly payment date after the Change Date until the amount of my monthly payment changes again.
<br />(F) Notlee of Changes
<br />The Note Holder will trail or deliver to me a notice before each Change Date. The notice will advise me of
<br />tt) 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 ttic ad)ustincnt nonce.
<br />B. CHAXGFS; WENS
<br />Uniform Covenant 4 of the Security instrument is amended to read as follows:
<br />4. Chergm; lima. 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 ieasehold payments of ground rents, if any, in the manner provided under paragraph 2 hereof
<br />or, it not paid in such manner, by Borrower making payment, when due, directly to the payee thereof. Harrower shall promptly furnish Lcndef
<br />all notices of amounts due under this paragraph, and fn the event Borrower shall make payment directly, Borrower shall promptly furnish to
<br />Lender receipts evidencing such payments. Borrower shall promptly discharge any hen which has priority over this Security Instrument;
<br />however, Borrower shall not be required to discharge any such licit so long as Borrower: (at shall agree in writing m the payment at the
<br />obligation secured by such hen in the manner acceptable to Lender: (h) shall tit gotKI 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 cnlorcernent of the licit or forfeiture of the Property ar anv
<br />part thereof; or to shall secure from the holder of such lien an agreement in a form satisfactory to Lender suttordinaung such licit io this
<br />Security Instrument.
<br />If Lender deermines that all or any part of the Property Is stiti)cct Io is licit winch may atlain it priority over this Sccurny insituntem,
<br />Lender shall give Borrower it notice identifying such lien. Horrower shall sattsly such lien at lake one or insist of the actions set foists above
<br />wnMn ten days of the giving of the notice.
<br />C. Ytym:f;
<br />I. niflxm Covenant 14 of Its e, Swcur"v Instrument is arneuded I,, read a% follows
<br />I4. Natte. fcxce)a for any notice required "Fidel appbcahle Itiw In Ixs rvrn Fit anothrl rnanur± teal an' nolorc o; Hcamwes prrnidrd fur ;n 11111
<br />Securgv Instnunenf shall be given by delivering d of iry friailing it by firs c his, mall n, fkirro,rr as !tic Pi,ilwi!s Addres. Fir w Barn w1wi add,v •.
<br />ax htrfferwer may devianata by notice to Lcnder as provided harm, and fhl air, n,"n.r ,.,, 1 end :.. „Ball he 0,eu ht Iira .ia,, mast o, 1 , rid,;
<br />addrev, %I&l di tieferii rte I1, 4aWh tither addrettt as I eel lien may tie s,ym a lr ht that,( lip li... ... W i If. t.l °:1 I--d"d I." I1� dill.
<br />°xs,urttr lout rimir,nt shall Ix - deemed to have ixrn given t";I -1 wee ur 1 �ndri �. ilia :i. rr. u. �hr mm� ;rr, d. ° ; :y noted 'u•, r;❑
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