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<br />I <br /> <br />RID E R <br /> <br />,"",,- <br />~ <br />r <br /> <br />i <br /> <br />83-0040AS. <br /> <br />NOTICE: THE MORTGAGE SECURES A NOTE WHICH CONTAINS A <br />PROVISION AllOWING FOR CHANGES IN THE INTEREST RATE. <br />INCREASES IN THE INTEREST RATE WILL RESULT IN HIGHER <br />PAYMENTS. DECREAses IN THE INTEREST RATE WILL RESULT IN <br />LOWER PAYMENTS. <br /> <br />This Rider is made this ~ day of July , 19 83, and is <br />incorporated into and shall be deemed to amend and supplement the Mortgage of <br />even date and attached hereto given by the undersigned (the "Rorrower") to <br />set:ure Borrower's Note to The First Nationi11 Bank of Grand Isl'lncl <br />(the "Lender") of the same dale (the "Note") and covering the property described <br />in the Mortgage and located at 635 East Memorial Drive, Grand Island, Nebraska <br /> <br />( Property Address) <br /> <br />Modifications. In addition to the covenants and agreements made in the <br />Mortgage, Borrower and Lender further covenant and agree as follows: <br /> <br />A. INTEREST RATE AND MONTHLY PAYMENT CHANGES <br /> <br />The Note has an "Initial Interest Rate" of 11.5 \, The Note <br />interest rate may be increased or decreased on each Change Date, as <br />described in the Note. Changes in the interest rate are governed by <br />changes in an "Index. Ii The Index is the <br />U.S. Treasury Securities - One Year <br /> <br />, determined in the ~econd calendar month <br />preceding each Change Date. Such changes If1 mterest I'ate will occur <br />on 1st day of February COl1lTlencing February 1. 1985 <br /> <br />I ncreases and (lecreases in the Interest <br />rate are limited to d change of ,.3- 't each Change D,He_ <br /> <br />If the interest rate cl)anges, the amount of Borr.o....er.s monthly <br />payments will change as prOVided in the Note, Increases in the inter- <br />est rate will result in higher payment!L Decreases in the interest rate <br />will result in lower pay~h. <br /> <br />8. LOAN CHARGES <br /> <br />It could be that the loan secured by the Mortgage is subject to a <br />law which sets ma)o.lmum loan charges dnd that law is interpreted so <br />that the interest or other loan charges collected or to be collected in <br />connection with the loan would exceed permitted limits. In this event, <br />then; (it) any such loan charge ~hall be reduced by the amount <br />oKessary to reduce the charge to permiHed limit; and (b) any sums <br />already collected from Borrower which exceeded permitted limits will be <br />r.funded to Borrower. lender may choose to make this refund by <br />l"eOuclng the principal owed under the Note or by making a direct <br />payment l()Borrowet'. <br /> <br />Co TRI\NSfER OF THE PROPE.RTY <br /> <br /> <br />If there is any transfer of the propeny, including a tl'ansfer' <br />~q-ibed in Paragraph 17 of the Mortgage, lender may require either <br />at;\iqcre.ase in the current Note interest rate, an increase in the Base <br />lndeli( fig!,!r;e, or a change of any of the loan lerms, as a (onelllion of <br />lender waiving. ll'\e option to ac.<elerale provided in Paragraph 17. <br /> <br />IlV$igning. tilts, Sl)trower agrees to all of the above. <br />--..." <br />I <br />! <br /> <br /> <br />"_,/"?/}~_____, / ,,/I <br />i _~C' !taq;tl~ 11 <br /> <br />.r)-- .h.~~?...___':"r-~~: <br />.? Borrower <br /> <br />