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<br />84 - 003344
<br />ADJUSTABLE RATE LOAN RIDER
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<br />NOTICE: THE SECURITY INSTRUMENT SECURES A NOTE WHICH CON-
<br />TAINS A PROVISION ALLOWING FOR CHANGES IN THE INTEREST
<br />RATE, INCREASES IN THE INTEREST RATE WILL RESULT IN HIGHER
<br />PAYMENTS, DECREASES IN THE INTEREST RATE MAY RESULT IN
<br />LOWER PAYMENTS,
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<br />This Rider is made this ~~ day of_~~, , 19-8L_ and is incorporated into and
<br />shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt (the"Security
<br />Instrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Note to THE
<br />EQUITABLE BUILDING AND LOAN ASSOCIATION OF GRAND ISLAND. NEBRASKA (the "Lender", of the
<br />same date (the "Note") and covering the property described in the Security Instrument and located at
<br />________-.li3~_ H<IDQQQs...st..._...Q~<ID<L:t$J,9-'1d, N)'.:~____
<br />Property Address
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<br />MODIFICATIONS, In addition to the convenants and agreements made in the Security Instrument, Bor-
<br />rower and Lender further covenant and agree as follows:
<br />A, INTEREST RATE AND MONTHLY PAYMENT CHANGES:
<br />The Note has an initial interest rate 0/1...<2, 6l.20/o, The Note provides for changes in the interest rate and the
<br />monthly payment as follows:
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<br />12 ITOrlths fran due date of first payment
<br />m Rate Change Dates and Frequency Thereof: Beginning~. the rate of interest I IDustpaymay
<br />cbangem the --.-fi ,-"t _day of the month , and on
<br />that day every_~__months thereafter, Each date on which the rate of interest could ehange is called
<br />a "Rate Change Date,"
<br />(2) The Index: Any changes in the rate,' "wrest will be based on an Index, The "Index" isXJtheMonthly
<br />Average Yield on United State.s Treasur} ,,-'Curities adjusted to a constant maturity of _ 6 months
<br />_J__l year ,__,_,_,3 years _________,) years as made available by tbe Federal Reserve Soard, ore theNa-
<br />t.ional Monthly Median Cost of Furds iannualized; to F'SI.IC Insured Savings and Loan Associations, as made
<br />available by the Federal Home Loan Bank Board, (Check only one box,)
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<br />The first Index figure for this Note is 10...59%, It is caIled the "Original Index." The most recently available
<br />Index figure as of 4;; days before each Hate change is called the "Current Index."
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<br />If the Index is no longer available. the Note Holder will choose l! new index which is ba&>d upon comparable
<br />information_ The Note Holder will give me notice of this choice,
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<br />(:l) Calculation of Changes: Be(ore each Change Date, the Note Holder will determine any change in my
<br />rate of interest. The Note Holder will cakulate my new interest rate by adding -Z-_,_percentage points
<br />1.2.___......%; to the Current Index and rounding the result. to the nearest one-eighth of one percentage.point
<br />(0,12;;%1. This rounded amount will be the new rate of interest I am required to pay,
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<br />The maximum interest ral"" J will be required to pay on this loan will be no more than 14-.......-%, The
<br />minimum interest rate I will be requifl>d to pay on this loan will be no less than _nia___.-'1o,
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<br />The Note Holder will then determine the new amount of my monthly payment which would be sufficient to
<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 the "Full Payment" and will be the new amount of my
<br />monthly payment,
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<br />PHOVISION .'\141 applicable only if this box is checked,
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<br />(4) Limit on Interest Ra~.. Increases: The rat~' of interest I am required to pay shall never be increased or
<br />deaeased on any single Haw Change Date by more than __ from the rate of interest I have been paying,
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<br />(;,)Effective Date of Changes: The new rate of int..""st will become effective on each !tate Change Date, I
<br />will pay the new amount o( my monthly payment each month beginning on the lirst monthly payment date
<br />after the Hate Change Date until the amount of my monthly payment is again changed, or I have fully repaid
<br />the loan,
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<br />(61 Notice of Changes: The Note Holder will mail or deliver to me a notice of any changes before each Rate
<br />Chan~ Date. The Notic'e will advise me of the now inLercSL rate on my loan. the amount of mv new InonthJv
<br />payments. and any additional matt,,"8 which the Now Holder is rt'qu'irl'd t.o disclose, < -
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<br />Provisions /1;71, A(81. A(91, and AIJOj applicable only if this box 18 checked_
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<br />m Borro.."rs Right To Limit Monthly P".vment.; Unless Sections /\19; and AnOI bdow will not permit Ill<)
<br />tQ do Mi. T may chQO~ to lirnJt the amount. of my new mont.hly payment following a Rale Cha.ngt~ D8tt:~ to th(A
<br />llnWUUl-] have ~~n paying mUllil)h~~d by the nunlber 1 07f), This amount i~ {;aJh:od tJu> "lJimitoo PaynwnL'. If
<br />I (':hoc)~ 1:1 Lirn.it.ed Payment &s my mom.hly puynu:.nt, I mu~t- givf' thf.'. :\0[[' Boldur noUct.1 Lhilt 1 am doinR ~(l
<br />ut. too~t. l~l d.ay~ hefoTt: rn." fir.9t nHW Jnunlh.l~y p..lym~'nt if-; du.e.
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