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I ,- 83---005182 ADJUSTABLE RATE RIDER THIS ADJUSTABLE RATE RIDER is made this ..28th. day of .....Se.ptembe.r:...................., 19...83.., and 'is inoorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to SeCUre Debt (the "Security Instrument") of the same date given by the undersigned (the "Borrower") to secure Bi>rtower's Adjustable Rate Note to ..J:JOfllE..F.fDERAL...5AJ:J.INGS..&..LDJl.N..Jl.5SOCIIHIOJ\l..OF....GRl\NO...ISl...l\ND... .,................................................................................. (the "Lender") of the same date (the "Note") and covering the propertY described in the Security Instrument and located at: ..2{!),].J~Q.t.tRf.1!,jQ.Q.ct..8.Qap.,...Gr.a[)d..l.sJ.a[)d...llI.ebr.ask.a..............68801................................................................. ( Propelty Address) The Note cont.in. provlalona allowing for changea In the Int.rot ,.t.. If the Int.....1 r.t. iftcre_.. the Borrow...'. monthly pa~._t. will be higher. If the Int...... r.ta decr...... lhe Borrow...'. monthly par_fa wlU be low.... ADDmONAL COVENANTS. In addition to the covenant and agreements made in the Security Instrument, Borrower and Lender funher covenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of ...X!..,.7..~..,.....%. Section 4 of the NOle provides for changes in the interest rate and the monthly payments, as follows: 4. INTEREST lUTE AND MONTHL Y PA YMENT CHANGES (A) Chanlle Dates The interest rate I will pay may change on the .......I..s.t............ day of .......~().v.E!fTI.~.E!E...................... 19 ...W:.., and on that day of the month every .......12............... months thereafter. Each date on which my interest rate could change is called a "Chance Date." The minimum rate charged will be no less than 9.5% and the (8) The Index maximum rate charged will be no more than 14.5%. Beginning with the first Chance Date, my interest rate will be based on an "Index." The Index is the weekly average yield on United States Treasury securities adjusted to a constant maturity of ..........J;lrJe.......... year~ as made available by the Federal Reserve Boaro. The most recent Index figure available as of 45 days before each Change Date is called the "Current Index." If the Index is no longer available. the Note Holder will choose a new index which is based upon comparable information. The Note Holder will give me notice of its choice. (C) Calculation of Changes Before each Change Date. the NOle Holder will calculate my new interest rate by adding ....T.tJ;I;.~.~................... .....u..u....u........Uu . percentage polDts (...........;."........%) to the Current Index. The sum will be my new interest rate., rounded to the nearest 1/8%. The NOle Holder willlhen determine the amount of the monthly payment that would be sufficient to repay in full the principal I am expected to owe on the Change Date in substantially equal payments by the maturity date at my new interest rale. The result of this calculation will be the new amount of my monthly payment. (D) Etrective Date of Changes My new interest rate will become effective on each Change Date. I will pay the amount of my lIew mOlllhly payment beginning on the first monthly payment date afier the Change Date until the amount of my monthly payment changes again. (E) Notlc:e of Changes The Note Holder will mail or deliver to me a notice before each Change Date. The notice will advise me of: (i) the new interesl rate on my loan as of the Change Date; (ii) the amount of my monthly payment following the Change Date; (iii) any additional matters which the NOle Holder is required to disclose; and (iv) the title and telephone number of a person who will answer any queslion I may have regarding the notice. 8. CItAllGES: UENS Uniform Covenant 4 of the Security Instrument is amended to read as follows: 4. Charps; Uens. Borrower shall pay all taXes, assessments, and other charges, fines and impositions attributable to thePropert)' which may anain a priority over this Security Instrument. and leasehold payments or ground rents. if any, in the manner provided under paragraph 2 hereof or, if not paid in su<,h manner, by Borrower making payment. when due, directly to the pay.ee lhereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly furnish to Lender reeeiPIl evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Security 11l5t~ however, Borrower snail not be required to discharge any such lien so long as Borrower: ( a) shall agree ill writil!110 the. payment of the obligation secured by such lien in a mallner acceptable to Lender; (b) shall in good _W,FOIIM-fHlMC UfilFOltM ADJUSTABURATE lOAlt-(TROOURY IlWHI83