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84 ---OC10849 ADJUSTABLE RATE RIDER :~ T'HISADJUSTABLERATERIDERismadcthis 13th day of February 19,4;__;. and-is incorporated into"and shall be domed to amend and supplement the Mortgage, Deed of Trust, or Deed-ta Secure ~-(the "Sen¢itg- Instrument") of the"samedate given by the uadusigned (the "Horrowu")to secure Borrower's Adjustable Rate Note to- " NOME;=FEDERAL'-- 8AVINfi1S i LOAN ASSOCIATK/N OF DRANO"ISLAND; NE9RASKA (the"Leader")ofihesatne date (the"Note.' " and covering the property descries inthe Security Irtstr»men[ and located a[: - - 2G16 Apache, Grand Island, Nebraska 68801 (Property Address) The Note coatair prorWoas aNowiaR for chasga-_fs ttte iaterttl rtue:'If dte ideemt Me.:. ioceemea, IYe Horrower's motrtYy paymeab will tie hig).er. if the iatereat tare deereaam;-tYe - Borrower's moalilypaymeaN wfll'.he lower. ADDITIONAL COVENANTS. In addition to the covenant and agreements made in the Security Instrument; Borrorvu~-nod. Lelttier":"" further covenant and agree asfollows: - A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of 1 1 %. Section 4 of the Noce provides for changes in the fntuest rate atidthe° monthly payments, as follows: 1. INTEREST RATE AND MONTHLYPAYMENT CHANGES (A) CMageThtes The intuest rate I will pay may change on the 1st day of A n r i 1 , 14134__, and on that day of the month very 12 months thereafter. Each date on which my interest rate could change is-called-a"CiiatlgeDatei" (B) Tfte laden Beginning with the first Change Date, my interest rate will be based on an "index." The Index is the weekly avuage yield on United States Treasury securities adjusted to a constant maturity of nna years, as made available by the Fedual Reserve Hoard. The most recent Index figure available as of 45 days before each Change Date is called the "Current Index." ]f the index is no longer available, Lhe Note Holdu wit! choose a new index which is based upon comparable information. The Note Holdu will give me notice of its choice. (C) CtrkahUaa of C.Yaaga Hefore each Chaoge Date, the Note Holdu will calculate my new interest rate by adding t ,in a nri nna_4-~a 1 f percentage points ( 7 .5 %) to the Currenc Index, and rounding to rho nearest I IB%. The sum will be my new intuest rate. The minimum interest rata on this loan will be no less than 9 . n, %. The maximum interest eau on this loan will be no more than 1 /i - S %n. The NotaHoltkr will then determine the amount of the monthly payment that would be sufficient to repay in full the prindpal.I am expelled to owe on the Change Date in substantially equal paymems by the maturity date at my new intues[ rate. The result of this calculation wi6 bathe new amount of my monthly payment. (D) 1?dteetlve Date of CYaagea My stew iatutst rate will become effective on each Change Date. f wili pay the amount of my eew monWy payment begiming on the first monthly payment date after the Change Date until the amount of my monthly payment changes again. (E) NofkaofCWgea The Note Huldu vvi6 mail or delivu to me a ootice before each Change Date. The notice will advise me of: (i) the itew interest rate on my loan as of [he Change Date; (ti} the amount of my monthly payment following thaChange Date; (iii}" any additional matters which the No[e Holder is required to disclose; and (iv) the title and tdephone nttmbtt of a puson who will answu any question I may have regarding-the notice. B. CHARGE; LiEI!i& Uni(omtCovenanc 4 of the Security Ittsvummt is amended to read as follows: 1;. CMt'~m; liar. Borrower shall pay all taxes, assessments, and other charges, tines and impositions attributable to the Property which may attains.priority"ovu-this Security instrument, and ieasehold payments of ground rents, if any, in the memo provided tender paragraph 2 hueof or, if trot paid"~ is such mama, by Botrowu making payment, when due, directly to the payee [hereof. Borrowu shall promptly furnisfi to Lander ttll rtotioes-of atttountS due ttndu this paragraph, and in the event Borrowu shall make payment directly, Borrower shall promptly fitrnish W Lender tecdpts evidencing such payments. Borcower shad promptly discharge any Gen which has priority over this Security Inetntment;;howvwer, Borrowu shall not be required to discharge any such lien so long as Borrower. (a) shall agree in writing to the paymem of for obligationstcurcd by such Gen in a manner acaeptabk to Lender; (b} shall in good faith contest such Gen by, ar defend against enforcement ~oEsuch Gen iri,- legal-_proceedjngs whichin the opinion of Lendu operate, to prevent the en€orcaaent of cite Gen or forfdture of the Property or any Pan thereof;'oC:(c);ahatl secure from the holder of such lien an agreement in a form satisfactory m Lendu subordinating such Gen to"this Security Inst[tttnatt~ - ]f Len3et;t)etettnines that all or any part of the Prgputy is subject to a lien which may attain a priority over this Security Instrument. Lender sluh-give Hinrowuarwtice idemifying such Gen. Bocrowu shat satisfy such lion ar take erne or more of the actions art iorth above within ten days of the givirit a£.the notics. Uniform Coyenattt 14 of thrSectrrityltlstntment iaamended wread as faGows: 14 NtNka. P.xcrpt fa any tto{icerrquircd ttMlc,r aPpGcabk-law Lo be given in another manner, (a) any notice to Harrower provided for in this Security Inattttmrnt shall be given by deliverirt~it at by nwi{'ulg,l4;try fhst doss mail to Hotmwc+r at rhr ProPaty-Addressor at such tuhu addt¢ss as fkxnt.c, tnay:iksiaNttr"b)r ttotie+c to Lendu as provided hexrin, amt (b)"arty notice to.Lendu shall bo given. by first lass mail to Lender's a,sdte#s rtate,t f tct~in..tiw ea aNC€r ofher-arldrml m Lynda: ttwlr des%gttttte:bg"tmtiee m Barrcrwu as prrtvidrd burin. Any nonce provided for in this Si6urity Iceu,n~bt,darn-3nvc-brrs<t~iuenintiorr$wtaor.Gn.+drt'wherttp~+rztintttr mrn~2~dasignateEthcrrin,