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85 ,00 -5907 ADJUSTABLE RATE LOAN RIDER NOTICE: THE SECURITY INSTRUMENT SECURES A NOTE WHICH CON- TAINS A PROVISION ALLOWING FOR CHANGES IN THE INTEREST RATE. INCREASES IN THE INTEREST RATE WILL RESULT IN HIGHER PAYMENTS. DE LEASES IN THE INTEREST RATE MAY RESULT IN LOWER PAYMENTS. This Rider is made this 16th day off_ November , 19 85 and is incorporated into and Shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Dead to Secure Debt (the "Security Instrument ") of the same date given by the undersigned (the "Borrower ") to secure Borrower's Note to THE E XWAM BUMOM AND LOAN ASSOCIATION OF GRAND ISLAND, NEBRASKA lthe "Lender ") of the same date (the "Note ") and covering the property described in the Security Instrument and located at 2423 S_ $ lai ne ., rrarad Te Land., 111E Property Address MODIFICATIONS. In addition to the convenants and agreements made in the Security Instrument, Bor- rower and Lender further covenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES: The Note has an initial interest rate of in %. The Note provides for changes in the interest rate and the monthly payment as follows: W Rate Change Dates and Frequency Thereof: Beginning in I9_ 86_ the rate of interest I must pay may change in the f rct day of the month December _(Month After Closing Month►, and on that day every l 2 months thereafter. Each date on which the rate of interest could change is called a "Rate Change Date." M The Index: Any changes in the rate of interest will be based on an Index. The "Index" is k the Monthly Average Yield on United States Treasury securities adjusted to a constant maturity of __ 6 months —III year 3 years _5 years as made available by the Federal Reserve Board, or the Na- tional Monthly Median Cost of Funds (annualized) to FSLIC Insured Savings and Loan Associations, as made available by the Federal Home Loan Bank Board. (Check only one box.) The first Index figure for this Note is A - 01; %. It is tailed the "Original Index." The most recently available Index figure as of 45 days before each Rate change is called the "Current Index." If the Index is no longer available, the Note Holder will choose a new index which is based upon comparable information. The Note Holder will give me notice of this choice. M Calculation of Changes: Before each Change Date, the Note Holder will determine any change in my rate of interest. The Note Holder will calculate my new interest rate by adding percentage points 'points - f 2 %) to the Current Index and rounding the result to the nearest one-eighth of one percentage point (0,125°"0, This rounded amount will be the new rr to of interest I an, required to pay. A The maximum interest rate I will be required to pay on this loan will be no more than 1.� ------- o. The minimum interest rate 1 will be. required to pay on this loan will be no Less than The Note Holder will then determine the new amount of my monthly payment which would be sufficient to repay the outstanding principal balance in full on the maturity date at my new rate of interest in substantially equal payments. The result of this calculation is called the "Full Payment" and will be the new amount of my monthly payment. 9 PROVISION AR) applicable only if this box is checked. 441 Limit on Interest Rate Increases: The rate of interest I am required to pay shall never be increased or decreased on any single Rate Change Date by f am the rate of interest I have been paying. �asis no moms than! points 151 Effective Date of Changes: The new rate of interest will become effective on each Bate Change Date. I will pay the new amount of my monthly payment each month beginning on the first monthly payment date after the Rate Change Date until the amount of my monthly payment is again changed, or 1 have fully repaid the loan. IM Notice of Changes: The Note Holder will mail or deliver to me a notice of any changes before each hate Change Date. The Notice will advise me of the new interest rate on my loan, the amount of my new monthly payments, and any additional matters which the Note Holder is required to disclose. I,` Provisions A171, A(A), AM. and A00) applicable only if this box is checked. 471 Borrower'a Right To Limit Monthly Payment: 11nless Sections A(9) and A00) below will not, permit tree to do so, 1 may choose to limit the amount of my new monthly payment following a hate Change Uat.e to the amount I have been paying multiplied by the number 1.075. This amount is caHcKl the "I,imit.txl Payment.." if I chooaw a Limited I'ayrnent. as Inv monthly payment. I must give the Note Iiolder notice that 1 am doing w, at learn 15 days before my first, new monthly payment is due - _._ 1