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ADJUSTABLE RATE RIDER 85-4 005787
<br />0 Year Treasury Index -Rate Caps)
<br />THIS ADJUSTABLE RATE RIDER is made this 20th day of November , 19 _ 85_,
<br />and is incorporated into and shall he 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 />FEDERAL SAYINGS & 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 />2707 August, 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 rate can change at any orie time and
<br />also the minimum and the maximum rate 1 must pay.
<br />ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender
<br />farther covenant and agree as follows:
<br />A. INTEREST RATE AND MONTHLY PAYMENT CHANGES
<br />The Note provides for an initial interest rate of ��� %. Section 4 of the Note provides for changes in the interest rate and the
<br />monthly payments, as follows:
<br />4. INTEREST RATE AND WONT Hl_ Y PA YMENT CHANGES
<br />(A) Change Data
<br />The interest rate I will pay may change on the first day of _ DeCember _1i____ , 19 _ 86 , and on that day every
<br />12 months thereafter. Each date on which my interest rate could change is _alled a "Change Date."
<br />(a) The Index
<br />Beginning with the first Change Date, my interest rate will he 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 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) Calivintion of Changes
<br />Before each Change Date, the Note Holder will calculate my new interest rate by adding _ tWo & one/half percentage
<br />points 1 2-5 ro) to the Current Index and rounding to the nearest 1 /8th of 107a, 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 />(DI Umlls as interest Rate Changes
<br />The interest rate I am required to pay at the first Change Date will not be greater than .�% or Ins than
<br />A - 5 ws. Thereafter, my interest rate will never he increased or dr -eased on am single Change Date by more than two Percent
<br />j_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 />less than $. ; °'e and the maximum interest rate will never be greater than
<br />(E) Effective Date of Changes
<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 Dale until the amount of my monthly payment changes again.
<br />(F) Not)ce of Changes
<br />The Note Holder will mail or deliver to me a notice before each Change Date, the notice will advise me rat:
<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. ChmBm; Luna. 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 Z hereof
<br />or, if riot 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 Bottower shall make payment directly, Borrower shall promptly furnish to
<br />Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument;
<br />however, Borrower shall not he required to discharge any such lien so long as Borrower (a) shall agree in writing to the paymem of the
<br />oblipticn secured by such lien in the manner acceptable to Lender; (h) shall in goon) faith contest such hen 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 />part thereof; or (c) shall secure from the holder of such hen an agreement in a form satisfactory to lender subordinating such hen to tilts
<br />Security Instrument.
<br />If Lender determine% that all or any pan of the Property is wih)cct to a lien which may attain a pnoruy over this Security Instrunent,
<br />Lender shall give Borrower a notice identifying such lien. Iorrower shall satisfy such lien of take one of stoic of he actions set forth :those
<br />wehin fen days of the giving of the notice.
<br />LAlitym.1.
<br />kJaiform Covenant 14 of the tiecanty Insfrumeol is amended to read as follows
<br />14. Nastee. Ficeer for any nonce required under applicable I.A. to he gtnrn tit another manner, i:U an, ;wins Io limtowrt 1 nnidrd ter ni the
<br />Security Instrument shall tie given by deih'eting II m by rnathng n by f ust , Iasi mail r" trnr —et al the I'tnpens Addle %, of al sic 11 olhc, ,uldt rs,
<br />as hortower may designate by notice to Lender as pi Uyidrd herein, and Ibl Ills notice 'o I ender shall he g"", hs 1r1,1 ,.Ins, imnl !" I end- '
<br />address stated herein m to ouch other adders, a, I ender may Jrsienair by 11"mr to N,.r n.w -r, Al pr,,, pled h"e", hm n„t,,.< w.., „h-J I„* .n !hit
<br />'ie,ttrrily InNrun"m s „all ht, eo hasr been pl,en u, If<,rrowel m 1 ender whrn gnen "a the m:m nri i( knaw,i t'e'rm
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