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83-006820 ADJUSTABLE RATE RIDER (Payment Cap) r TH1SADJUSTABLE RATE RIDER is made this ....3Oth.. day of .............~.............., 19:fl3..., and. is incorporated into and shall be: deemed 10 amend and supplemenllhe Mortgage, Deed of Trust, or DeedtosectIre Debt (the .'Security. Instrument") of the same date given by the undersigned (the "Borrower") to seCure Borrower's Adjustable'Rate Note to ....................................... ...........S.~ox:..M;>rtgage.,...Inc....................................................c .................................................................................. (the "Lender") of the same dale (the "Note") and covering the pro~y described in the Security Instrument and Jocated at: ....................................................;a6.0:4..~.::-:..Gran(l.Islandr..NE.....68801..................................c............. I Property Address I The Note contains provisions allowing for changes in the interest fate every year; If the interest rate increases, the Borrower's monthly payments willba higher. If the interest rate decreases, the Borrower's monthly payments will be lower. The Borrower also may be able to limit monthly payment increases to 71h% each year. ADDmONAL COVENAI'ITS. In addition 10 the covenants and agreements made in the Security Instrument, Borrower and Lender furl her covenant and agree as follows; A. INTEREST RATE AND MONTIlLY PAYMENT CHANGES The Note provides for an initial interest rate of. ......9.,] ...... %. Section 4 of the Note provides for changes in the interest rate and the monthly payments, as follows: ..~. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) ChanlIe Dates The interest rate I ",ill pay may change on the first day of.... ...~.. ........... 19JH......... and on that day every 12th month thereaf1er. Each dale on which my intcresl ralC could change is called a "Change Date." (8) The Index Beginmng wilh Ihe firsl Change Date. my IIltcresl rale will he based On an Index. The "Jndex" is Ihe weekly average yield on United Stales Treasury secUritIes adJusied to a collstallt malunly of I year. as made available by " . l"ederal Reserve Board. The most =ent Index figure available as of I he date 45 days before each Change Date is I ailed the "Current Index:' If the Index is no longer av-dilable. Ihe NOle Holder will choose a new index which is based upon comparable illfonnat;.,n. The Note Holder will give me nOlice of Ihis choice. (0 Calculation of Changes Before each Change DalC9 the Note Holder win calculate my new inrCft$l rate by adding ..J..}...... percentage points (.....1,.~09.....%l 10 the Current Index. The Note Holder will I hen round the result uf this addition to the nearest one-eighth of One percentage point (0.125%). This rounded amount will be my new interest rate until the nexl Change Dale. The Note Holder will then determine the amount of the monlhly paymellt Ihal wonld be sufficient to repay Ihe unpaid principal balance of my loan I am expected 10 owe on the Change Date in full on the ma1Urity date at my new interesl rate in substlUltially equal payments. The result of thIS ,'akulationls called the "Full Payment Amount", and it will be the new amOUIl! of my I110nthly pay'menl.unless I choose t he amount permitted by Sectioll 4(0) below. (D) 8om>wer's Right 10 Limited Pay_nt Amount Unless Sections 4(F) and 4(0) below will not permit me ll> do so. I may choose to limit the amount of my new n""'thly paymenl following a Change Dalc 10 the amounll have been paying multiplied by the llumber 1.075. This amount is called the "Limited Paymenl Amounl." If I choose the Limited Pay_nt Amount, I must give the Note Holder nolice that lam doift&.... at least IS "ys befOl'e my fint IlO!W monthly payment is dne. (El Aoklitloos to My Unpaid PrillCipal Balaw:e IflchoQsc tbe Limited Paymellt Amount. my m'''llhly payment could be less than the amounl of the interest portion of a monthly payment which thell would be sufficient to repay my unpaid principal balance in full on the maturity date at my. curr.ent interest rate in s.ubstantiaUy equal payments. If so, each month that the Limiced Paymem Amounl is less than the interest portion, tbe Note Holder will sublrac.the Limi.ed Pay'ment Amount from the amount of the interest portion ami will add .he ditfcrc-u(.~~' 10 my unpaid prm~jpal hahuh:c. Th~ Nnlc Holder wlll also add inten.cost un the anwunl or this difference It) my unpaid principal balant:~ ea-("h mnnth. The inh:n.~t rale on the interest added to principal will be the rate required I>y Stell"" 4( Cl above. (f) Unlit 00 Unpaid P~ipal Balan",,; I,",r..ased Monlbly Payment Amount My- unpaid prtm;ip31 balanc.ec,lUl never e)l.\.'t."1.."d a I1l,H,imuUl amount equal 10 one hundred twenly..five ~rcenl (1250h) of the priw;-ipalamounl I originally borrowed, My pay'mg a Limited l'lIylllcnt Amount after any Change Dale ~ould cause my unp;t.l4 prim,;pal balarn.-;t to exceed thai maximum amount. If S". IlIl Ihe dale Ihal my paying a Limited Paymelll ADlOIllll":!l\lldclIus,: ""'10 e."e.,'lJ that limit. I win lOSlead hegin P"YIll!,l a new m{)I11hly pay men. until the next Change [).lIt:" lhe-~' m~)tllbJY' pay,ucnl will be in-an ~m(\unt wlw.:h wlluld rn: ~uf1ici~nllO repay my then unpaid principal ba_lunce 1lI flllIOllI\tematurity.d..'" at my ~lIrrenl interesl fale In ,uto.lanhally e4Ui,I paymen.s. 101 ~... Filii. Pay_t "-Hnt ~ "'lIh.he lit~t mumbly payment "fterthe la'l Change Date. I will pay the Full Payment Amount as my lOOlIIllIy paYll)eltl. 1141.. ~lil'. Dill' of ClltiI.. My Il\...;"int.:f~ ,,"ewill ho:I:ort><lelf~'"w {'u ",,,,IiCh;Ulg<' Date. I will pay the ,unount nr my new monthly payment ~.oo 1'-lInl 'll(>IIjlUy par_Ill ,"Ie "fter .he Chatll!C Date 1Inul.he amount "f my monthly IMy'ment chan~w. ~, ....,..........1 V..T......., IeiaLt)-.s,. lomolr~I>;S~-.'HMA Unifw", *1-