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l' , 83-' 005063 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 made this --'Zllil day of SePtember , 19 83, and is incorporated into and shall be deemed to amend and supplement the Mortgage of even dale and attached hereto given by the undersigned (the "Rorrower")to secure Borrower's Note to The First National Bank of Grand Islann (the "Lender") of the same date (the "Note") and covering the property described in the Mortgage and located at 3567 Laura Ave., Grand Island, Nebraska 68801 Lot 73 Westroads Estates Third Subdivision. Hall County, Nebraska ( 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 3/4 %. The Note interest rate may be increased or decreased on each Change Date, as ol'scribed in the Note. Changes in the intere~t rate are gover~e~ by changes In an "Index." The Index is the U.S. Treasury Secuntles- One Year , determined in the second calendar month preceding each Change Date. Such changes in interest rate will occur on The Fi rst of Februarv COll1l1encing February 1, 1985 Increases and decreases in the interest rate are limited to a change of ~9" each Change Date. I f the ,nterest rate changes, tile amount of Borrower's monthly payments will change as provided in H1e Note. increases in the inter- est rate will result in higher payments. Decreases if' the interest rate will resul t in lower payments. B. lOAN CHARGES I t 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 propel'ty. including a transfer des.cribed in Parag,'aph 17 of the Mo,'tgage, Lender may require either an increase in the current Note interest rate, an increase In the Base Index figure, or a change of any of the loall lerms, as a condition of Lender waiving, the option to accelerate provided in Paragraph 17. By ~lIgning this, Borrower agrees to all of the above. ... 1.L.'tt: . 'uf(,~k...,.bi':.1" ~ Harold G. Stevens Borrower ( (:~~(; r:~'.Jl;' u-~"- Carol E. Stevens Borrowel-