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<br />ADJUSTABLE RATE RIDER 85-- 0059-12
<br />(1 Year Treasury Index -Rate Caps)
<br />THIS ADJUSTABLE RATE RIDER is made this 2nd day of nPramhPr , 19_$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 date given by the undersigned (the "Borrower ") to secure Borrower's Adjustable Rate Note (the "Note") to HOME
<br />FEDERAL 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 />1403 -1409 N. Broadwell, Grand Island,NE 68803
<br />(Property Address)
<br />This note coataims provbbts allowing for changes in my Interest rule and my monthly
<br />payments. This note also limits The amount my interest rate can change of any one time and
<br />also the minimum mad The maximum rate 1 most 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 9.55,_ %. Section 4 of the Note provides for changes in the interest rate and the
<br />monthly payments, as follows: .
<br />4. INTEREST RA T£ AND MONTHL Y PA YMENT CHANGES
<br />(A) Change Data
<br />The interest rate I will pay may change on the first day of —January
<br />_ 19 87 and on that day every
<br />12 months thereafter. Each date on which my interest rate could change is called a "Change Date."
<br />(2) Thelndax
<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 date45 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) Cakuhtion of Chang"
<br />Before each Change Date, the Note Holder will calculate my new interest rate by adding One & Seven /eights
<br />percentage
<br />points i l _ 875 9s) to the Current Index and rounding to the nearest 1 /8th of 190, 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 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 an Lter"t Rate Changes
<br />The interest rate 1 am required to pay at the first Change Date will not be greater than _ 11.5 ___90 or less than
<br />8-75 9s. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than 1www=Pnt 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 R 75 90 and the maximum interest rate will never be greater than _ 14 _ U75 90.
<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 Date until the amount of my monthly payment changes again.
<br />(F) NoteeorChamg"
<br />The Note Holder will mail or deliver to me 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 />S. CHARGES; LIENS
<br />Uniform Covenant 4 of the Security Instrument is amended to read as follows:
<br />4. Charges, Lei. 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 rimers of amounts due under this paragraph, and in the event Borrower 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 be required to discharge any such lien so long as Borrower: (a) shall agree in writing to the payment of the
<br />obligation inured by such lien in the manner acceptable to Lender; (b) 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 off he lien or forfeiture of the Property or any
<br />Part thereof; or (c) shall secure from the holder of such lien an agreement ill it form satisfactory to Lender subordinating such lien to this
<br />Security Instrument.
<br />If Leader determines that all or any part of the Property is subject to a lien which frilly amain it priority over this Security Instrument.
<br />Lender shall give Borrower a notice Identifying such lien. Borrower shall satisfy such hen or take tine or more of the action, set forth above
<br />within ten days of the giving of the notice.
<br />c,. Ncymp.,
<br />Uniform Covenant 14 of the Security Instrument is amended u1 read as follows:
<br />14. Notice. Except for any notice required under applicable law fu be given it, t111olher planner' Rai y I,Once Il, liorrossel pruvlded tol ill tills
<br />Security Instrument 411411 be given by delivering it fir by mailing it by tits, claw mail lu Ih,rrnwer it 'tic Prl,prny Addles, n1 at such olhcr addle..
<br />ac Borrower may designuc by noUc'e ul (.ender as provided herein, and tilt ally ""Ice I" i C11110 shall be w,cn by flro dm, mad L, 1 cndr•l'.
<br />address stated herein or u, ouch other addre4s as Lcndet may cicslgnale f,v ntince to Ilrlrrowel a. prla,dni herein Ass n „urn ptm filed fill m Ihl%
<br />'i tuttly Imiturnettt shall t+e deemed la hlwe been given Ir1 Hnttnwet or I cnde.r when li, en In the m;unu•, �Ir�l y.n;urd hcn•m
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