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~`"' noises ADJUSTABLE RATE NOTE THM NOTE CONTAINS A PROVISION ALLOWING FOIlCNANG'!E DY MY IIV7'Y~'I' RATE. If MY INTEREST RATE INC)IJEAS~, MY MONTIR.Y PAYMHVI'B N713. Brt' HIGHER. !F MY INTEREST RATE DECREASlB, MY MONTHLY PAYMIL'N7t'Y WD;;i. BiL LOWER. .. - .... , !q 84 Grand Island Nebraska:-_ -- CITY - STA 1407 North Lafayette, Grand Island, Nebraska 68801 Property Address - - 1. BORROWER'S PROMISE TO PAY In return for a loan that I have received, 1 promise to pay U.S. S 2 `-' . DDD. DD (this atnmtnt iscalled"prindpN='); pltu~.ittttxatsto-the , order of the [.ender. The Lettdtt is HOME FEDERAL SAVINGS i LOAN ASSDCIATRNi OF GRAND 1SGANIf- 1 understand that the l..endtt may [ransftt this Note. The Calder or anyone who takes this Nate by transfer asd who is etttitltd=.[o raoeilrli payments under this Note is called the "Note Holder." 2. [NTERE3l' Imaeat will be charged on that part of principal which has not been paid beginning on the date 1 recdvt principalaod rxntinaiag undltht. full amount of prittcipai has ban paid. Begintdng on [he date 1 receive pritcipal, I will pay interest at a yearly rate of 12 rFs. The inta'eat rate that 1 still pay will change in a~rdance with Station 4 of this Note. The interest rate required by this Section and Section 4 of this Note is the rats 1 will pay both before and after any defatdt des-ribed in Section 7(B) of this Note. 3. PAYMENTS (Af Tktae W Place of P'ayserts [ will pay principal and interest by making payments evtty month. l will make my monthly payments on the i s t day of each month beginning on ~7une 194 ,twig [[rake these payments every month until t have paid all of the prircipal and interest and any abet [:barges described bebw that I [nay owe under this Note. My montNy paytnrnts will be applied to interest before principal. If oo may i . 2D14 , t still owe amotmts under tltis Note, 1 will pay those amounts in full on that date, which is called the "maturity date." 1 will make my monthly payments at ?21 SOUTH LOCUST, P. O. ROX 100$, GRAND ISLAND, NERRABKA /N02 a at a different p4ce if required by the Note Holder, 111 AasatrY d My ItrtW MotYYy Pay.rw My initial monthly payments wig be in the antotmt of U.S. S 257.16 .This amalmt may ehatt~ [o collect chaoBS in the interest rate that 1 must pay. The Nac Holder wig daermirte my monthly payment in aceordance with Section 4 of this Note. •. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) CkayaDatra The inters[ rate 1 will pay may change on [he 1st __~. day of 7 one 19 _~5 _, and oo Hutt day of the month every __~_, months thereafter. Each date on which my inters[ rate could change is called a "Change Date.' (p Tie Ids: Beginning with the first Cllangc Date, my iotttest talc wlg be baud on an "Index." The Index is the wakty average yield on Upittd Stets Treawry sxuntis adjusted to a cotlstant maturity of __ ~:ne year(s), as made avagabk by the Federal Reserve Bwrd. The most recent Indez figure available as of 45 days before each Change Pats is called the "Current Index." if the Index is no lungs available, the Note Holder wig choose a new index which is btsud upon comparable inflxmation. The Nae Holder will give tat ttodce of its choice. (C- CaksYatlw o1 Cttaap Before Cach Change Date, the Noce Holder will caknlate my new inters[ rate by addittg_th_rPe arm onF-ha 7 ~~ntMe pourts (~-3.5 .4a) to the Cwrent Itltlex, slut rounding to the nearer l i Rya. The rtrittimtmr interest rate on ibis luau wilt he no less than >.'s~__R. The maximum inters[ rate on this loan wilt be no more than __~____°Ja. The Note Holdtt wig [hen daermine the amount of the monthly payment that would be sufGeimt to repay in full the principal 1 am oxpated to owe oo the Change Date in substantially equal payments by the maturity date at my new incerst rate. The result of this calculation will be the new amount of my monthly payment. (D1 ffllecdve Date of C-attga My tlew intttst race wig become effective on each Charge Pam. I wig pay the amount of my new monthly payment beginuing on Ne first monthly' payrttent date after the Change Date until the :uneum of my monthly payment .hanger again. (E) !1iWioeofCtunges The Note Holdtt wig [Dail or deliver m me a notice before rach Change Uate. The nonce wilt advise me oL (i) the tow interest rate on my loan as of the Change Date; (ii) the amaum of my monthly payment fogowing the Change Date; (iii) any additional rnaiters which the Notr Holdtt is required to disclose; and (iv) the tige amt ttdephoor number of a person whn will answer any quesuor 1 may have regarding the noticr. S. BORROWEJ<'$RIGHTTOlRFlAY t have tM right to make paymmts of principal at any [late before [hey err due. A payment n( pnnapal only is known as a "prepayment." Vttlrm (make a prepayment, 1 wgl tell tM Note Holder in wriutlg that 1 am doing so. 1 ttlay make a full prepeymmt or a partial prrpaymetn without paying any penalty. The Note Holder wdl we all of my prepaymems to redoes the amount of pritlt:ipai that 1 owe under this Notc. If I make a partial prepsymcnt, there will be no delays in the due dates of my [nom hly payments unless thr Ntne Hrylder agrees in wRittng to tht?sc delays. My partial prepayTrtent wig [educe thr amount of my monthly payments alter the ftrst Changr Dwte fagowing my partial prepayment. tiuwevrr, any erdurnon due to my partial prepayment may t?r offset by an :ntrrest talc utcrease.