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r 83:;;' no 4562 RID E R NOTICE: THE MORTGAGE SECURES A NOTE WHICH CONTAINS A PROVISION ALLOWING FOR CHANGES IN THE INTEREST RATE. INCREASES IN THE INTEREST RATE WILL RESULT IN HIGHER PAYMENTS. DECREASES IN THE INTEREST RATE WILL RESULT IN LOWER PAYMENTS. This Rider is mad~ this 25th day of AU<1ust I 1983 , and is incorporated into and shall be deemed to amend and supplement the Mortgage of even date and attached hereto given by the undersigned (the "Rorrower") to secure Borrower's Note to The First Nationrtl Bank of Grand Island (the "Lender") of the same date (the "Note") and covering the property described in the' Mortgage and located at #27 Kuester's Lake, Grand Island, Nebraska 68801 ( Property Address) Modifications. In addition to the covenants and agreements made in the Mortgage, Borrower and Lender further covenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note has an "Initial Interest Rate" of 11.5 't. The Note interest rate may be increased or decreased on each Change Date, as described in the Note. Changes in the interest rate are governed by changes in an "Index." The Index is the U.S. Treasury Security - Onp Yf'ar , determined in the second calendar month preceding each Change Date. Such changes in interest rate will occur on February 1, 1985 Increases and decreases in the interest rate are limited to a change of -L't each Change Date. I f the interest rate changes, the amount of Borrower's monthly payments will change as provided in the Note, Increases in the inter- est rate will result in higher payments. Decreases in the interest rate will result in lower payments. B. LOAN CHARGES It could be that the loan secured by the Mortgage is subject to a law which sets maximum loan charges and that law is interpreted so that the interest or other loan charges collected or to be collected in connection with the loan would exceed permitted limits. In this event, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. C. TRANSFER OF THE PROPERTY If there is any transfer of the property, including a transfer described in Paragraph 17 of the MOI'tgage, Lender may require either an increase in the current Note intel'est rate, an incI'ease in the Base index figure, or a change of any of the loan terms, as a condition of Lender waiving, the option to accelerate provided in Paragraph 17. By signing this, Borrower agrees to all of the above. ~~?~ i chael. Cacy .. rrower a~;.CL- ~'f.; j~Q~I.(JQAA_/ Arline F. Sorensen orrower