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r 0824361-2 ADJUSTABLE RATE RIDER 83- I) 0 4387 'lHIS AI:lJUS'!ABIE RA1E RIIER is made this 18th day of August 1983 , and is :incorporated into and shall be deaned to aoend and supplement the Mxt:gage, Deed of Trust, or Deed to Secure J:ebt (the "Security Instnment") of the same date given by the undersigl1ed (the "BoI'IOlOel"") to secure Borrower's Adjustable Pa)'lll!llt mte to Coomercial Federal Savings and Loan Association (the 'UnIer") of the sane date (the "Note") and covering the property described in the Security Instnment and located at; 3540 Graham Avenue, Grand Island, Nebraska 68801 (Property Address" THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE EVERY 5 YEARS. IF THE INTEREST RATE INCREASES, THE BORROWER'S MONTHLY PAYMENTS WILL BE HIGHER. IF THE INTEREST RATE DECREASES, THE BORROWER'S MONTHLY PAYMENTS WILL BE LOWER. AIDITI<N\L aM:lIi\NrS. In addition to the covenants and agree:nents made in the Security Instrunent, BorrO!oier a1d Lenier further COIIenlIIlt and agree as foUDIOS: A. INTEREST RATE AND MONTHLY PAYME~'T C~%o The Note provides for an initial interest rate of . %. Section 4 of the Note provide for changes :In the interest rate a1d the montbl y fS)'IlI!llts, as foUDIOS; "4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The rate of interest I will pay may change on the first day of October 1, 1988 , and on that day every 60th nr:xtt:h thereafter. Each date on t.hich my rate of interest could change is cal.1ed a "Change Date." (B) The Index ~ with the first Olange Date, my interest: rate will be based on an Indelt. The "Indelt" is the weekly average yield on lliited States Treasury securities adjusted to a CllDIltant naturity of 5 )'I!al"S, as made ava:l.lable by the Federal Reserve BoaJ:rl. The most recently available Indelt f:lgure as of the date 45 days 1:efore each ~ !late is called the "C1Irrent Index." If the lixiex is m looger available, the Note Holder will ctDose a new index lotU.ch is based upcn cauparable infoIlllation. The Note !blder will give me mtice of this choice. (C) Calculation of Changes 1.900 Before each ~~te, the !bte !blder will calculate my new rate of interest by ~ pereentage points (' %) to the Current Index. The sun will be my new interest rate until the next ~ Dite. - The No!:!! !bIder will then determine the anomt of the !lD1thly pa)'lll!llt that \oltlUld be sufficient to repay the mpaid frlnclpe.1 l:alaIJce of 1JI'f lOElIl I an expected to owe 00 the ~ Date in full on the IIllIturity da!:!! at 1JI'f new rate of interest L'1 substantially equal payments. The result of this calculation will be the flaW aJIOlnt of 1JI'f !lD1thly pa)'lll!llt. (D) Effective Date of Changes ~ new rate of interest will becaue effective on each Change Dlte. I will pay the new amount of my llIXltbly pa)'lll!llt each nr:xtt:h ~ 00 the first llIXlthly pa)'lll!llt date after the 0Iange Dite ootil the aIlOWt of my IIUlthly payment changes again. (E) Notice of Changes The Note !bIder will mail or deliver to me a notice of arrj changes in the atDJUDt of my moothly pa)'lll!llt before the effective date of any~. The mtice will include information required by law to be given me and also the title and tele~ nllllber of a person;.tv:> will atlSIol& any question I may haw r~ titi mtiee:' B. CHARGES;LIENS lhiform (hVEllllnt 4 of the Security Instruaent is aIllllded to read as foUO\o6: 4. 0i!\RGES; LIENS. Borrower shall pay all taxes, "~'ie~""""'~". and other chatges, fims and impositions attributable to the Property Iohich may attain a priority over this Security InsttulBlt, and leaseroId pa)'llllilDt8 or ground rents, if arrj, in the llliIIlDer provided under paragraph 2 hereof or, if mt paid in such lllam&, by Borrower making pa)'lll!llt, Ioilen due, directly to the payee thereof. Borrower shall prallptly furnillh to U!nder all mtices of awunts due under this paragraIh, and in the event Borrower shall 1llIlke payment directly, Borrower shall pt'Ullptly furtlish to Lenler receipts ~ such pa)llllel1ts. Borrower shall praoptly d.ischa.rge any lien wtUch has priority over the Security Instrunent provide:!, that Borrmer shall mt be required to discharge arrj su:h lien so lcxlg as BoI'IOlOel"; (a) shall agree in Iotiting to the payment of the obligatioo secured by such lien in a llW1lleX acceptable to leOOer; (b) shall in good faith contest such lien by, or defend against enforcanent: of such lien in, l~ prtlC'-.lingl' Wili:h in the opinioo of Lenler operate to prevent the enforceDent of the lien or forfeiture of the Property or arrj part thereof; or (c) shall secure fron the tclder of soch lien an agreement :In a fom satisfactory to tender subordinating such lien to this Security Instrunent. If I.eaier deteIllll.Des that all or any part of the Property is subject to a lien wtUch my attain a priority over Security Instrullimt. Lender shall send Borrower mtiee identifying su::h lien. BotTO\oer shall !llI.tUfy such lien or take one or ilXlre of the actions set forth above within ten days of the gi~ of ootice. C. ~OTlCE lhifQJ:jll <hveDlJrlt 14 of the Security Instnment is _xIed to read as ioll<:Wl: 14, Ibtice. Except for any notice requirEd urder applicable law to he given in another OW1Iler. (3) any mtice to Ibrrowe:r ~ for in the Security Instrunent shall he given by delivering it or by lllII~ it by first c.lass mil addressed to Bo~ at the Propc"Tty ,'<!dress or at such ,lddress as BottCfli/!!r 1llIlY des~te by ootice to la1der 118 providEd herein, arrl (b) un)' notice to Lender sl\!lll be AOJUSTAllLe RATE RIDE!!. ~) YEAR TRl:ASURY INDEX - l.~~f~ F.iwdty (~>Ju i:ap; :'hhitfic<,.l '"LBJ