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84- 003232 ADJUSTABLE RATE LOAN RIDER This Rider is made this lRtlL__ day of____~._____. 19J14,-.-- and is incorporatedintoa:nd 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"l to secure Borrower's Note to ,THE' EQUITABLE BUilDING AND LOAN ASSOCIATION OF GRANO ISLAND, NEBRASKA(the"Lender'~1 ofthe same date (the "Note") and covering the property described in the Security Instrument and located at ________~P--'~-'--~~L~~ I~lan~L..~__~?Jl!)J___,_____________, Property Address MODI FICA TIONS, I n addition to the convenants and agreements made in the Security Instrument, Bor- rower and Lender further covenant and agree 6S follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES: The Note has an initial interest rate of ,~_%, The Note provides for changes in the interest rate and the monthly payment as follows: r NOTICE: THE SECURITY INSTRUMENT SECURES A NOTE WHICH CON' TAINS A PROVISION ALLOWING FOR CHANGES IN THE INTEREST RATE. INCREASES IN THE INTEltEST RATE WILL RESULT IN HlGHElt PA YMEJIITS. DECREASES IN THE INTEREST RATE MAY RESULT IN LOWER PAYMENTS, (l) Rate Change Dates and Freq'lency Thereof: Beginning in 19._.aL, the rate of interestl must pay may. changem the fi=1c day of the month..... ,July I Month After Closing Monthl.and on that day every.~__._.months thereafter, Each date on which the rate of interest couldehange is called a "Rate Change Date," 121 The Index: Any chanKes in the rate of interest wiil be based on an Index, The "Index" is KJtheMonthly Average Yield on United States Treasury securities adjusted to a constant maturity of---,-- 6 inonths _,.Jj;_l yt>.ar ___.:1 y"ars _.__..~ years as made available by the Federal Reserve Board. arC} the Na, t.ional Monthly Median Cost. of Funds tannua!cc,d) to FSLlC Insured Snvings and Loan Associations, as inade availabl" by th" Fed"ral Home Loan Bank Board. iCbock only one box'; The first Index figure for this Note isl.Q..59%, It is called the "Original Index." The most recently available Index figure as of 45 days before "a"h Rate "hange is called the "Current Index." If the Index is no Jonger ItvailabJe, t.he Note Holder will choose a new index which is based upon comparable information, Tbe Note Holder will give ro" notice of this choke. (3) Calculation of ChaDK""; Before each Chan!;e Date, the Note Holder will determine any change in my rate of interest. The N ate Holder will calculate my new interest rate by adding ..._'".____percentage pointa L.....?,_ '"~I to the Current Index and wundin/,: the result to the nearest one-eighth of one percentage point iO,125%). This rounded amount wiJI be t.he n"w rat.e of interest I am required to pay, The maximum interest rate I will be r~uir~d tQ pay on. this loan wiH be no nlQre than ___lL__~'!(). The minilnum Jnterest r3tt' ! will be t(~-Iuired to pHS un thi~ Jc~ftO wi.ll he no less. th~n 01.9:. _._ <liL The Note Holder will then determine t.he new amount, o( my monthly payment which would'be sufficient to repay the outsranding principal balance in full on the maturity date at my new rate of interest in substentially equal payments, The "'suit of this calculatiop is called tbe "Full Payment" and will he the new amount of my monthly payment. PROV lSl0N At4J app!icable onlY if thi~ hox is chez.;ked. 14) Limit on I nterest Rate I nueases; The rate of interest. I am required to pay shall never be increased or decreased on any single Rate Change Date by more than ",'from the rate of interest I have been paying. (51 I<;ffective Date of Chang...; The new rau. of int~rest will become effective on each Rate Change Date, I will pay the new amount of my monthly payment each lIlonth beginning on t.he first monthly payment date after the Rate Change Date unW the amount of my mont.hly payment is again changed, or I have fully repaid the loan. (6) Notice of Changes; The Not<; Holder will mail or deliver to me a notice of any changes before each Rate Change Date. The Notice will advi"" me of the new inter"st rate on my loan, th., amount. of my new Illonthly payments, and any additional matters which the Not.e Holde.r is required to disclose. . Pn)vl-5lons A(7), A(8)1 /\(9). and ;\(10) applicablt: onl~v if this h<>'x is chocked. ~ m 8orrower'" Right To .Limit Monthl..v Payment; Unles, Sections A(9; and AIIOI below will not permit me to do,." 1 may chuos" (4) limit the amount of my 1l"W monthly payment following a Hate Change Dat.e t.o the amon.nt I have been paying I1\ull.iplied by the number] .07~, This amount is railed (.he "Limiwd Payment." I ( I f:h6c~ s, t..-imit<Itt least J~) da);s hefOt'e my fir~t nww monthJ,Y r>&ym~nt j,s (hw.