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84 "" t~u0918
<br />ADaJST~4BLE RATE RIDER
<br />THIS AD)USTABL)?RATERiDERismadetlns 231'd day of February. ,19~:._,
<br />and is ineoipot'ated into and shall be dtemed'to amend -and supplement the Mortgage; Deed of Trust; or Deed to Secure-Debt (the "Security'
<br />Instrument'")'of the same date givenbYthe undersipted (efts "Borcower"} [o seoute Borrower's Adju~able Rate Note to NGME FEDERAL, -
<br />SAVINOS-''A t,OAN A'S$OCIATfON'OF' ORi-ND ISLANtI; MEQRASKA' (the ••Lender••}otfltESamedate(the"Nae••)
<br />and eoveringttieproperty deseribed'in the Savrity Instrumentand located at:
<br />2711 Cottonwood, Grand Island, Nebraska, 68801
<br />(Property Address)
<br />The--NoR eoetdtts provtsioes dlotrfag'tor'cYsagea fa° the-iglereat'.nte. H'lie"I~saa1• nle-. ~ -' -
<br />ieeseases, tYeROrrower'e ~tYly payteerttr wN16r MtYa:'It tYr la`lereat me dcereaan; lift '
<br />1lorrower's taoelYly p.yrae.tr will beiowar: - - -
<br />ADDITIONAL COVENANTS. [n addition to the covenant and agreements made in thrSecurity Instrument; Borrower `and` Lender
<br />fttrthercovenantand agreras follows:
<br />A. INTEREST RATE AND MONTHLY PAYMENT CHANGES
<br />The Noteprovides for an initial interest rate of 11 °lo. Section 4 of the Note provides for changes in [he interest rate sod the
<br />mnnthty payments, as follows:
<br />4. INTERESTi7ATEANDMONTHLYPAYMEIVTCHANGES - - -
<br />iA) CYogellafea
<br />Theinterest zate I will pay may change on the lst day of t1Pr1l . i9,'.85 ,and
<br />~_ on that day of the month every 12 months [hereafter. Each date on which my interest rate could change-is-Balled a 'Change Date."
<br />m Tlsrl~
<br />', Beginning with the first Change Date, my interest rate will be based on an "Index." The index is the weekly average yidd_on Unfted:States
<br />Treasury securities adjusted to a constant maturity of one years, as made available by the Federal Reserve Hoard: The most
<br />recent index itgure available d of 45 days wfo:e -~ ch Change Date is called the' `Current Index."
<br />if [he Index is no longer available, the Note Holder will choose a new index which is based upon comparable information. The Note Holder-
<br />will givemenotice of its choice.
<br />' (Gy Cakdatloq of CNagee
<br />- Heforceach Change Date, the Note Holder will calculate my new interest rate byadding- two and. -one-half petcennge points
<br />.;( 2-..5- We)~to IhcCurrent Index, and rounding to the neatest 1/8%. The sum-will bemy.new interestratc The.minimum-interest rate
<br />on this loan will-be no less: than 9.5_ Ws. The maximum, interest iate:oa this loan: will be-no morc:thao- - 1~+ . 5 '/o.
<br />Thet!IOte Holder will-then dderrnine.the amount of the monthly payment that would.be sufficient to repay. in'_fuB the principal I am
<br />expected-to.owe on theChange Date in substantially equal.payments by the maturity dateatmy new-inleresLrate:.The result of-this eaictdafion
<br />will be the new amount of my monthly payment.
<br />(D) E(teetlyeDate of Chaagn
<br />My new interest tatewill becotrtc-effective on each Change I)a[e. I-wi/l. pay the amount of my new: monthly paymentbeginning_ on tht firsC -
<br />- monthlypaymen[.datc~fter the Change Date until the amount of my monthly payment changes again.
<br />. (E)i Notkx-ot CYaagea
<br />The Note Holder will mail ordeliverto me a notice before each~Change Date. The notice willadvise meof:
<br />(i) the new,intere@t, rate on my loanas of the Changal)ate;,
<br />(ii) the amount of my, monthly paymmnfollowing,the Changs-Date;
<br />- (iu),any.additiortal.mat[erswhichtheNoteHoldlrisrequved_to.disclose;.aod, _
<br />(iv) the title.and telephot[entuaber of aperson who will answer any question-I may have «gardtn6 theuodce:
<br />~. CHAHGE$;-LIENS
<br />Utdform Eovertanc 4pf the Security [ogtrument is amended to read as follows:
<br />1. CYar~aq lien. Borrower shall pay all taxes, assessments, and other charges, floes and impositions,attributahk to,the Property which moy
<br />atgfn a ptiorityover this Securty Instrument, and leasehofd.payments of ground rents, if mtY. in the•manaer,providtd underparagraphlhereof
<br />or; if not paid in; such moaner, by: Bturower making, payment, when due, directly to the. payee thereof. Hotrowtr-shall promptly-furnish to
<br />Lendu all notices at amounts due under this, paragraph, and in the event liortower shall make, payment directy, Bortowv shall. promptly
<br />furnish to Lender receipts evideaciug- such payments. Borrower shall promptly discharge. any lien which bas priority over th(s Security
<br />Instrument; however, Borrower shall not be regrnred to discharge any sucb lien so tong as Borrower: (a) shall agree inwriting-to tha.payment of
<br />the obligation secured by such-lien in a manner acceptable to Lender( (b) shag in good faith contest such lien by, or defend agt[inst:enforcemeut
<br />of such lien ice, legal proceedings which in the opinion of Lender opcate to preveptthc.en[orcement of the:tien of fotteiture of the~Propu[yor
<br />any Pa:t thereof; or (c) shall secure from the ttalder of Such lieu an agreement in s form satisfactory to: [.ender subordinating such Gen,to this.
<br />SectuitylrWrvment.
<br />It Lender determines that all or any partoC the_Ropectyis subject to a-lien which may attain a priority over this Security Instrument, Lender
<br />slrll give Borrower a noti::r: identifying such_lien. BotrowFr stull:sa[isfy such Iien.or take one or moreof the actions set forth above within ten
<br />days of the giving of the notict. - . -
<br />C. NOTICE
<br />Unllwnt.CAVetunt It of the Security InSltft[geutisAntettd4d,torsadastl3}lows:
<br />K. Nlalet. Fscept far any twtice required under tyiplicaHle law to be given in soother manner, (a} say notice to Borrbwwx provided for in thin
<br />Securitylmtrurnent scull br given by delivering it pr by mailing it by first cius molten Btrttowei at.tbePropecty Address or at such. other address
<br />as Borrower may dtpigrutc by natis~ to Lender as pnrvrdai trerein, and (h) any notice to Lsndet shall, be given.-by first. class mail to Lender's
<br />,rddress scud trertiu nr to such o[t.er addreu an bender m,ty designate b notice :u l3orrs±war-as provid«llrertiq. Anynaticx provided for in this
<br />Se.uti[y Itbtrunxm shalt bC deemed rn have been givrn to tlorrowcr u, Lctriex whet}, given.fn the maraurdesignated herein.
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