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ADJUSTABLE RATE RIDER 84 ~tii ~ 1074 THIS ADJUSTABLE RATE RIDER is made this __ day of February , 19fl4-, and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt (the "Security Instrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Adjustable Rate Note to NOME FEDERAL SAVINGS 8 LOAN ASSOCIATION OF GRAND ISLAND, NEBRASKA (the''Lender")ofthe same date (the"Note") and covering the property described in the Security lnswment and located at: 2409 West 14th Street, Grand Island Nebraska 68601 (Property Address) The Note contains provisions allowing for changes in Me interest role. i[ the interest me increasea, the Borrower's monthly payments will be higher. If the Interest tale decreases; the Borrower's monthly payments will he lower. ADDITIONAL COVENANTS. In addition to the covenant and agreements made in the Security Instrument, Bortowerand Lender further covenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The No[e provides For an initial interest rate of 11 %. Section 4 of the Note provides for changes in the interest rate ands the" monthly payments, as follows: 4. /NTEREST RATE AND MONTHL Y PA YMENT CHANGES (A) Clurtge Dales The interest rate [will pay may change on the 1st day of Rpr i l , 19 65 : attd--~- on that day of the month every 12 months thereafter. Each date on which my interest rate could change is called a "Change Date:" (B) The Index Beginning with the first Change Date, my interest rate will be based on an "Index." The Index is the weekly average yield on Unfted States Treasury securities adjusted to a constant maturity of one years, as made available by the Federal Reserve Board. The most recent Index figure available as of 45 days before each Change Date is called the °Current Lndex." 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 its choice. (C) Caknla8oe of Chaaees Before each Change Date, the Note Holder will calculate my new interest rate by adding t.nirt and ^ne-ha 7 f percentage points - ( 2 . S %) to the Current Index, and rounding to the nearest I /8%. The sum will be my new interest rate. The thinimt[mintetest rite - on this loan will be no less than 9 . S %s. The maximum interest rate on this loan x~ll be no more than 14 - 5 -9s.- - - The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay in full the principal-I'am expected to owe on the Change Date in substantially equal payments by the maturity dale at my new interest rate. The result of this-calculation- wili herbs new amount of my monthly payment. (D) Eikctire Date of Changes My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly paymenrbeginning on the firs6 monthly payment date after the Change Dale until the amount of my monthly payment changes again. (E) Nofiee of Changes The Note Holder will mail or deliver to me a notice before each Change Date. The notice will advise me of: (i) the new interest rate on my loan as of the Change Date; (ii) the amount of my monthly payment following the Change Date; (iii) any additional matters which [he Nott Holder is required to disclose; and (iv) the title and telephone number of a person who will answer any question i may have regarding the notice: B. CHARGES; LIENS Uniform Covenant 4 of [he Security Instrument is amended to read as follows: L Charges; Lkos. Borrower shall pay all taxes, assessments, and other charges, fines and impositions attributable to the Property which may attain a priority over this Security Instrument, and leasehold payments of ground rents, if any, in [he roamer provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the payee [hereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly furnish [o Lender rettipts evidencing such payments. Borrower shad promptly discharge any lien which has priority over this Security Instrument; howtver, Borrower shall not be required to discharge any such ben so long as Borrower. (a) shall agrce in writing to the.paymeocof the obligation secured by such lien in a manner acceptable to Lender, (b) shall in good faith contest such lien by, or defend against enforcement of such lien io, legal proceedings which in the opinion of Lender operate to prevent the enforttment of the lien or forfeiture of the Property or any part thereof; or (c) shall secure from the holder of such lien an agreement in a form satisfactory to Lender subordinating such lien to this SxaritylnstrumenL [f Lender determines that all or any part of the Property is subject to a fien which may attain a priority over this Security Instrument, Lender shall.give Borrower a notice identifying such lien. Borrower shall satisfy such lien or take one or more of the actions set forth above within ten days.of She giving of the notitt. C. .NOTICE Uniform Covenant 14 of the Security Instrument is amended to trod as follows: lI, Notitx. Fattpt far any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in this Security Instrument shall be given try delivering it or by mailing it by first lass mail co Borrower at the Property Address or at such ocher address as Borrowtr may designate by noticre to Leader as provided herein, and (b> any notice to Lendtr shall bt given by first class mail to i.ender's addrtas stand herein or to such othtr addrtss as Lendtr may designate by notice to Borrower as Rrovided herein, Any notice providtd for in this Blearily lnstrumttt[ shall be detmtd to have bttn gsutn to $orrower or Lendtr when given in tht matmer dtsignattd herein