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I" 83-D06679 ADJUSTABLE RATERlDER r mlSADJUSTABLERATERlDERismadetbis 21stlayof December ,19~, and is incOrporated into and shaD be deemed to amend and "uppltment th. Mortgage,Deodof Trust, or Deodto Secure Debt(tbio ~.Seeulity Ill5lnlDlent") of tbiosam. dllt"giv", by tbe undersigned (tbe "Borrower'") to secure Borrower's Adjustabl.Rate Note'to. HOME-cf'EQERAt' SAVINGS ".LOAN . ASSOCIATION OF GRAND ISLAND. NEBRASKA (tbio "Lender") oftbe_ date (tbe."N<lte''J . and covering th. property described in Ih"Security Instrument and located at: 205 Walt, Doniphan, NE 68832 (PropertY Address) TIae Nolo <ODtId.. prcMsioIu aIkI1ritla for eb_ in th hat......1 l'Illo. If. th Inr......t..lo' iaemlses. tlIe BotTo......1DOIItIIIy ...yments _lie blper. If tile InloreStl'lllo .."......tlIe BotTo_. moRtllly ",,_ts _ be 10...... ADDmONAL COVENANTS. In addition to the covenant and agreements made in tb. SecurityInstrument~ BorroWer.'and'Letu!Or further COV<11ant and a8'<< as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Not<! provides for an initial int.rest rate of 11 "I.. Section 4 of the Not. provides for cbangesintbio interestrat.and..tIle' monthly payments, as follows: 4. INTEREST RA TEAND MONT1lL Y PA YMENTCHANGES (A) ~Dtta The interest rate I will pay may change on the 1st day of February .I9..aL.and on that day of the month every 12 months thereafter. Eacb date on which my interest rate couid change is called a "ChangeDllte. U (8) 1110 1_ !lqinnillll with the fITSt Change Date, my int.....t rate will be based on an "Ind""." The Indes is the weekly averllll" yield on United Slates Tr....ury "",urities adjusted to a constant maturity of nnp years. as made available by tbe Federal Reserve Board. The most recent Index fipre available as of 4S daY' before ...cb Change Date is called tbe "Current Index." If the Ind.. is no lonaer available. tbe Note Holder will choose a new index whicb is based upon comparable information. The Note Holder wiU give me notice of its choke. (el ~ot~ Before each Chanae Date, [be Note Holder will ca1culalt' my new interest rate by adding t-IIJn .=inri nnA_hR 1 f percentqe-points <-____2.....S..- ') to the Current Index. and roundina to the nearest t /8 'lo. The sum will be my new interest rate. The minimum interest.rate on [his loan win be no less than q !:, __~ O'!t. The rn.uimum interest rate on this loan will be no more than 1 Lt _ c; _ "'-. The Note Holder will then determine tbe amount of <he monthly pa)1n<nt tbat wouW be sufficient to repay in full tbe pri~.,.u , am expected to owe on the Change I:>a.te in ~ub'laIltially equal paymffits. by the maturity date at my new interest rate. The resu..lt of this calculation will be the new amoWll of m)' monthly payment. (D) Eftedln n.u o( c-... My new jntCfest ral't' will become effective on each Change Dalt:. I will pa)' ~he amowlt of my new monthly payment beginning on the first monthly payment date aftei' the Chang,e Date until the 4tffiount of my monthly payment changes again. (E) Nodee of c-... The Note HQ1der wilt mail or deli,"u fO me a notice before Qcb Change Date. The notice will advise me of: (i) tbe ""w interest rate on my loan as of tbe Cbange Date; (ii) the amount of my monthl)' payment followillll the Change Date; (iii) any additional matters wlticl> the Note Holder is required to disclose; and (1.) tbe title and telephone number of a ~son who will answ.. any question J may ha.e regardillllthe notice. B. CHARGES; UENS Uniform C<>venant4 of tbe Se.;urity Insu;ttneD' is amended to read.. folbws: 4. ~ u... Borrow.. shall pay allllWlS. assessments. and other charges, fm", and impooitions attributable to tbe Propeny which may attain. priority over this Security Instrument, and lea.sebold payments of ground rems, if any. in the manner provided under paragraph 2 hereof Of, if not JllIid in such manner, by Borrower malting paymenl, ..hen due. directly to tbe payee thereof. Borro..er shall promptly furnish to Leader alll1Otit;c$ of amOUttts due under this _h, and in tbe event Borrower shall mue payment directly, Borrower shall promptly furnish to Lender reecipts evi<.lel>cilll! such payments. Borrower ,hall promptly discharge any lien which has priority over this Security lrlsuumclli; ""-. Borrower shall not be required to <iisd>arge any such lien so long .. Borrow..: (a) shall agree in writing to the payment of tile obliptioa secured by such lien in. nwtnt:r aa:eputble to Lender; (b) shall in good faith contest sucb lion by, or defend against enforcement of oudt Iiet1 in,lopl proc:eetlinp which in tbe opinion of Lender operate to present the <nforcemem of the lien or forfeiture of theProperty or _ Pllf\lhoreof; or (c) shall se<;Ure from the holder of such lien an a&Teement in a form sati,factory to L<nder subordinaulIll such lien to this Sel;urjIy J~. If /-ctIIdet daermiDor. that allOt .ny pan of the Ptoporty is subject to . lien ..hloh may attain. prionty over this Security Instrun><1\l, l.ender ~....~.. DO!it.'dderltifyillll'uch lien. Borrower .haI1 sati,fy ,ucb lien or take one or more of the actwtu .et forth above within t<n ... 0( "" &1.... .of the 1tOIloe. L C .l'IOt1C.E \Jaifomt~ '4 of theScurity In_t..~t" read.. follows; IL ~. ~ (or atlYrItltit>: r"'llli;td Wl4er .~ law to be pven m >.nolI><< manner. (ll) any notice to Borrower provided for in thIS ~ J__ shaIIlle....... by dellYWint il Of by maili"l! " by fint cw. maiJ It> Borrower at the PropertY Addr"" or at ,..<it othet addr... IliiBorr_...,. ~ br l>OllGt .10 I,........ pr...idod l>m:in. aooth) any notit." '0 Lender shall be IPv<n by Om da.. mad In Ltnder', ~,IUWld-._ or t:o ~ t\tbct ~ as ~ nM)<~* by BOl:Kt t.o Bofr:owe't.u pro~ided ht'te\fL Any UUlk,"'(' pnwided tot iu thb ~y ~ shall "" ~ 1011&", "- ".... to lI....n._ '" LII1lde< .,llon II""" ill tbe m_ <I6..,..,t.o bet.....