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<br />84~""; 002784
<br />ADJUSTABLE RATE RIDER
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<br />THIS ADJUSTABLE RATE RIDER is made this lAth day or :vJCly ,19~,
<br />and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed or Trust, or Deed to Secure Debt (the "Security
<br />Instrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Adjustable Rate Note to HOME. FEDERAL
<br />SAVINGS" LOAN ASSOCIATION OF GRAND ISLAND, NEBRASKA (the "Lender") of the same date (the "Nore")
<br />and covering the property described in the Security Instrument and located at:
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<br />914 South Claussen, Grand Island. Nebraska 68801
<br />(Property Address)
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<br />The Note contains provisions allowlnl for cba_ In tb. Int....t rat.. If the Interest rate
<br />increases, the Borrow.r's monthly payments wiD he bilher. If th.lnt....t rate~, the
<br />Borrow.r's monthly payments will he 10......,
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<br />ADDITIONAL COVENANTS, In addition to the covenant and agreements made in the Security Instrument. Borrower and Lender
<br />further covenant and agree as follows:
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<br />A, I~JTF-REST RATE AND MONTHLY PAYMENT CHANGES
<br />The Note provides for an jpJtial interest rate of 11 O'fo. Section 4 of the Note provides fOf changes in the interest .rate',and the-
<br />monthly payments. as follows:
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<br />4, INTEREST RA TE AND MONTHL Y PA YMENT CHANGES
<br />(A) C~Dat...
<br />The interest rateI will pay may change on the 1st day or Jul y 19~,and:
<br />on that day of the month every 12 months thereafter. Each date on which my interest rate could change is called a ~'Chanae;,Date/,'
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<br />(8) The Indo
<br />Bel!inning with the first Chanae Date, my interest rate will be based on an "Index," The Index is the weekly averaae yield on United States'
<br />Treasury securities adjusted to a constant maturity or one years, as made available by the Federal Reserve Board. The mOst
<br />recent Index figure available as of 45 days before each Change Date is called the "Corre:!t Index,"
<br />Ir the Index is no longer available. the Note Holder will choose a new index whicb is based upon comparable information, The Note Holder
<br />will give me notice of its choice.
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<br />(O) Effeeli.. Dal. of C~_
<br />My new in~erest rate will become effective on each Change Date, I will pay the amount of my new monthly payment beainnina QIIthelirsi.
<br />monthly payment date after the Change Da~e until the amoum of my montbly payment chanaes again,
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<br />(Cl CaIcuIalIoa of C.....
<br />Before each Chanae Date. tbe Note Holder will calculate my new interest rate by adding two and one-hal f percenl8lepoiP!&."
<br />( 2.5 "10) to the Current Index. and roundin& to ~he nearestl/S"iI. The sum will be my new interest rate. Th.mlnimUlll:lnterestrale:.
<br />on this loan will be no less than 9.5 "10, The maximum interest rate on tlUa loan will be no moretban 14.5 "',-
<br />The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay in full the principlIlA: am
<br />e..xpected to owe on the Change Date in substantially equal payments by tbe maturity date at my new interest rate. The resull of this-calcu1atiQn
<br />will be the new amount of my monthly payment.
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<br />(E) N_ofCb_
<br />The Note Holder will mail or deliver to me a no~ice before each Chanae Date, The notice will advise me of:
<br />(i) the new interest rate on my loan as of the Cbanae Date;
<br />(ii) the amount or my monthly payment following ~he Cbanse Date;
<br />(Hi) any additional matters which the Note Holder is required to disclose; and
<br />(iv) the title and telephone number or a person who will answer any question I may have regardill8 the nOlice,
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<br />B. CHARGES; LIENS
<br />Uniform Covenant 4 of the Security Instrument is amended to read as follows:
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<br />4, C.......; Lie... Borrower shall pay all taxes, assessments, and other charges, fines and impositions attributable to the Property which DIllY
<br />attain a priority over tbis Security Instrument, and leasehold payments or ground rents, if any. in the manner provided under par...aph 2 herelJf
<br />or,if not paid in su<:h manner, by Borrower making payment, when due. directly to the payee thereor, Borrower shall promptly f~ .10
<br />Lender all notices of amounts due under this paragraph~ and in the event Borrower shall make payment directly, Borrower shall ,proDl~
<br />rurnish to Lender receipts evidencing sueb payments. Borrower shall promptly discharge any lien whicb has priority over tbis Security
<br />IfiS,uument; however, Bol1'ower shall not be required to diSCharge any such lien so long as Borrower: (a) shall a,gree in wrilina to the payment of
<br />the obligation secured by such lien in a maDllor acceptabie to Lender; (b) shall in good raith contest such lien by, or defend agai~st enforce""",t
<br />of such lien in., lq:al proceedings which in tbe opinion of Lender operate to prevent the enforcement of the lien or forfeiture of the 'Propertj'.,Of
<br />any. part thereof; or (c) shall secure from the holder of such lien an agreement in a rorm satisractory to Lender subordinatill8 such lien to this
<br />Securlty Instrument,
<br />If Lender determines that all or any part of the Property is subject to a lien which may attain a priorit.y over this Security (nslIument. Lenc:ijr
<br />shall Jive Borrower a notice identifying such lien. Borrower shall satisfy such lien Or take one or more of the actions set forth abo\'c within ~n
<br />days ofthe givill8 ofthe notice,
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<br />C.NonCE
<br />Uniform Covenant J4 of the Security instrument is amended to read as follows;
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<br />1-4. Nodce. Except for any notice :required under applicable law to be given in another manner. (a) any notice to Borrower provided for in this
<br />~urity Instrument shall be gjv('.n by dcliv~rio& it Qf by mailing it by first da.\~ mail to Borrower at the- Property Address or al such other addtC'5.s
<br />.lU Borr()w'ltf mas 4es.ignat~ by noti-ce ll"~ Lender M provided hemn. and (b) any notice to Lender shall be given by firsl elMS mail (0 Lender's
<br />addrcu stated her-dn Of' to wch otbe-r addrcs!i as Lender may de!lignau~ by notke to Borrower a,>s provided hC:fClfi. Any nuti,'t' provided for i,n this
<br />Sex;urHy lr~trumcnt shall ~ deemed to have been given to Borrower Of Le.nd-cr woe-u sh'en itl the manner de-sIgnated herd!L
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