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<br />84 ---003225
<br />ADJUSTABLE RATE LOAN RIDER
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<br />lIlOTICE: THE..SECURITY IlIlS'I'R.UMElJlITSECUR.ESAlIl()TEWHICItc<>N-
<br />TAINS A PROVISION ALLOWINQFOR CJlANGES INTIlI<}~ES'r:'
<br />RATE. INCREASES.IN THE INTEREsTRATEWlLDRESULTINEI~I$R..
<br />PAYMENTS. DECREASESINTHEIN'I'ERESTR.ATEMAYRESULT~IN.
<br />LOWERPAYMENl'S.
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<br />This Rider is made this ___lB.i:1L day of__ . June.. .. ~, 1984- andis"~rp(lrated~~~'
<br />shall be deemed to amend and supplement the Mortgage. Deedof Trust,orDeedW Secy:reD~t(t>hll':~#y,
<br />Insttument"l of the same date given-by the undersigned ~the "Borrower'!} toS!lC1l1'eBoI').'!)Wer;aN< .ffE",
<br />EQUITABLE' BlHLDING ANDLOANASSOC'ATIONOFGRANDISLAND;NEBRAS~(thll". . of thee
<br />same date (the "Note") and covering thepropertydescrll!edinthe~rityllUltrull1ent-andl- ti
<br />_ 648 Martin AVfill~e. Grand Island. NE /iRAOl
<br />Property Address
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<br />MODIFICATIONS, In addition to the convenants and agreements madeintIuiSecuritYlristI1.unent;~of.'<;;
<br />rower and Lender further covenant and agree as follows: . . . . <:>. .-<'ii""':::-
<br />A, INTEREST RATE AND MONTHLY PAYMENT CHANGES: .'. .. . ,. .' ...,iX"
<br />The Note bas an initial interest rate of ~ %, The Note provides for changes in the interest-rate-andthei' , ,-'
<br />monthly payment as follows:
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<br />(1) Rate Change Dates and Frequency Thereof: Beginningin 19~,therateofjntereStI~U!lt~Yi~}":.
<br />change III the first day of the month Ju1 V (Month After ClosingM;9rithf'ianQ-?lV
<br />that day every 12 months thereafter, Each date on which the rate of inter613tcouldchaDge.is.~':'
<br />a ".Rate Change Date," ..... .... ... ......'.. ..:...
<br />(2) The Index: Any changes in the rate of interest will be based on an Index, The" Indmr"IslOthe:r..fOllthlY
<br />Average Yield on United States Treasurysecurlties adjusted to a constantIIUiturityof~6~nt~~"
<br />,-1L..I year ___3 y",.ars _~_5 years liS made available by the Federal Reser.ve BOard,orDthl-ic'Nk -"
<br />tional Monthly Median Cost of Funds (annU[ ;;zpd) to FSLIC Insured Savings and Loan AssociatiOJ1S;<Sflml!de.
<br />avsilable by the Federal Home Loan Bank Board. (Check only one box,)
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<br />The first Index figure for this Noteis..1l1.~,lt is called the "Original Index," The most recently a.vallable .
<br />Index figure as of 45 days before each Rate change is ('tilled the "Current Index,"
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<br />If the Index is no longer available. the Note Holder will choose a new index which is based upon comparable
<br />information, The Note Holder wilJ give me notic"of this choice.
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<br />(3) Calculat.ion of Chang",,: Before each Change Date. the Note Holder ",ill determine any change in my
<br />rate of interest, The Note Holder will calculate my new interest rate byaddillg ~..___percentagtlpoin.ts
<br />L_2....5....%) to the Current Index and rounding the result to the nearest on_ighth of one percentage point:
<br />(0,125%), This rounded amount will be the new rate of interest I amreqnired to pay,
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<br />The maximum interest rate I will be required to pay on this loan will be no more than .J.AL.-/l'., The
<br />minimumint"rest rate I will he required to pay on this loan will be no.less than_N/A _,'To,
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<br />The Note Holder will then determine the new amount of my monthly payment which would besufflcieutto
<br />repay the outstanding principal balance in full on the maturity date at my new rate of interest in substantially
<br />equal payments. The result of this calculation is called I.he "Full Payment" and will be the new amount of my
<br />monthly payment.
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<br />at PROVISION A(4) applicable only if this box is checked.
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<br />(4) Limit on Interest Rate Increases: The raLe of interest I am required .to pay shall. never be increased or
<br />decreased on any single Rate Change Oat" by 010", than. .~..,% from thirate of interest I have been paying,
<br />Note
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<br />(5) Effective Date of Changes; The neW rate of interest will become effective on each Rate Change Date, I
<br />will pay the new amount of my monthiy payment each month beginning on the first monthly payment date
<br />after the Rate Change Date until the amount of my monthly payment is again changed, or r have fully repaid
<br />the loan,
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<br />(6) Notice: of Changes: The Note Holder will mail or deliver to me a notice of any chsnges before each Rate
<br />Change Date, The Notice will advise me of the new interest rate on my loan, the amount of my new monthly
<br />payments. and any additional matt"rs which the_ Note Holder is required to disclose,
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<br />Provisions Am, /\(8j, A(9i. and 1\(10) applicahle only if this box is checked"
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<br />(l)Borrower'slUght To Limit Monthly Payment; Unless Sections A\9111nd 1\(lOi below will not permit me
<br />to do so, I may dioose. toIimit the amoqnt. of my new monthly paYIl",nl following a Hate Change Date t<) the
<br />amount I have been paying multiplied by the number 1.075. This amount is caUed the "Limited I'ayment." 1f
<br />I cho<_ II Limited Payment as my monthly payment, I must givR Ih" Note Hold"r notictl Ihat I am doin/( so
<br />at ~t. 1.5 day" before my Urst ,laW .uonthly payment is due_
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