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-, ADJUSTABLE RATE RIDER 84 -.;... 006780 THIS ADJUSTABLE RATE RIDER is made this 27th day of Decen'ber., 19M-,lUld is inc:orpora1ed into llll4 sUN be deemed to amend lUld supplement the Monsaae. oCed of Trust, or Deed to Secure Debt (the "Security Instrument") of tbe same date Jiven by the undersisned (the "Borrower") to secure Borrower) Adjustable Rate Note to. Giltewav Bank and Trust ~ . (tile- "Lmder") of the same date (lhe "Note") and covering the property described in tht: SeCurity Instl1l11lent lUld located at: unit 701. 109 No. locust. Grand Island. Nebraska 68801 l"'- _, The Note GOftt8ins prcMskma atlowlng for chIInget In the Inte..... rate every year. "the lnWrHt raw In- 0111"1, the 80rr0wef'5 monthly payments wtfI be. higher. If the Intefeet raw deCrla..., the ~w.r'. monthly pavment41 wtfI be lower. . AODfTION.U COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower lUld Lender funher covenant and acree as follows: A. INTEREST RATE AND MONTHI.Y PAYMENT CHANGES The Note provides for an initial interest rate of 12.75 0.'0. Section 4 of the Note provides for changes in the interest rate and the monthly payments, as follows: thereafter. Each date on which my interest rate could change is called a "Change Date." (II) TIle IHu !qinninl with the first Change Date, my interest rate will be based on an Index. The "Index" is the weekly averqe yield on United Stll1es Treasury securities adjusted 10 a constant malOri!y of 1 year, as made available by the Federal Reserve Board. The most recent Index figure available as of the date 45 days before each Change Date is called the "Current Index." If the Index is no longer available. the NOle Holder will choose a new index which is based upon comparable information. The Note Holder will give me notice of this choice. (0 Calculation of CINInaes Before each Change Date. the Note Holder will calculate my llew interest rate by adding tx) mi one-hal.f __ percentage points ( 2.50 life) to the Current Index. The Note Holder will then rotmd the rC$ult of thil addition to the nearest one-eighth of one percentage point (0.125019). This rounded amount will be my new il'ltefat me until the next Change Date. The Note HokIer will then determine the amount of the monthly payment that would be sufficient 10 repay the unpaid principal ~ of my loan I am expected to owe 011 the Change Date in full on the maturity date at my new interest rate in substantially ~ ,.~. The result of this calculation is called the "Full Payment Amount". and it will be the new amount of my monthly ~. ~ to subsection (0) below. .. 1.IIds .. I...... Rate <-llaates. .J1te rilk of imerest I am required to pay shall never be increued or decreased on IIny single Imerest Change Date by more 1m ---SI-.__ from the rate of interest I have been payinll for the precedinlltwdve months. My interest rate also shall never be ~ mea 15.95 ~__~. . 4. IIftecIM DMc of CINInaes Ny - imerC$\ rll1e will become effective on each Change Date. I will pay the amount of my new monthly payment bqinnina @ft 1M &M ~bfy payment date after the Chan,e Date until the amount of my monthly payment changes qWIl. m Nodee of 0Iups The Note HokIer will mail or deliver to me a notice of any changes in the amount of my monthly payment before the effective daw of any~. The notice will include information required by law to be liven me and a1$O the title and telephone number of II ~ wile will aMwer any questions I may have regardinll the nmice." ~ ARM - J Year WItfIetd I'aylllelll: Cap, Wltll Aditbtment 10 A.dJtbtlMlM Rate Cap anti Rate Ca, Over l.lfe. ___ _f__6_~ L L u ..J .-J