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<br />ADJUSTABLE.RATE LOAN RIDER
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<br />003363
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<br />NOTICE: THE SECURITY INSTRUMENT SECURES A NOTE~!CII <:9J1i'-
<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 cTun.. '. ,19-8L at1disincorporatllliiIitc>'linli
<br />shall be deemed to amend and supplement the Mortgage; Deed of Trost, or Deed toseeureIJebt(thef'~tr .....
<br />Instrument"} of the same date. given by the undersigned (tbe "Borrower") to secureBoJ:l'oWel;'s:No~t(j1'H"(;
<br />EQUITABLE BUILDING AND LOAN ASSOCIATION OF GRAND ISLAND,NEBRASKA (the:'IAmller")j>ftliifr
<br />same date (the "Note") and covering the property described in the Security Instrumentandlocatedat.
<br />1717 W. Charles, Grand Island, NE 68801
<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 of ..llL %, The Note provides for changes in the interest rateal\dJhe
<br />monthly payment as follows: .
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<br />(1) Rate Change Dates and Frequency Thereof: Beginning in 19~. the rate ofinterest I mustpaYIllI1Y:
<br />changedn the f'i rc:t- day ofthe month Julv (Month AfterClosing.MonthkllDdpll,'
<br />that day every 12 months thereafter, Each date on which the rate of interest could change is c;alIea:,
<br />a "Hate Change Date,"
<br />(2) The Index: Any changes in the rate of interest will bebased on an Index. The "lndex"isKltheMo,:iiiJiIy'
<br />Average Yield on United States Treasury urities adjusted to a constant maturity of~,6;II1onths
<br />~1 year _3 years_5 years~" made available by the Federal Reserve Board, orOthe.,Na'
<br />tional Monthly Median Cost of Funds lannualized) t.o FSLIC 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 .lll..5.9%, It is called the "Original Index." The most recently available
<br />Index figure as of 45 days before each Rate change is called 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 uponcomparabIe
<br />information, The Note Holder will give me notice of this choice,
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<br />(3) Calculation of Changes: Before each Change Date, the Note Holder will determine any change in my
<br />rate of interest, The Note Holder will calculate my new interest rate by adding --2...li-percentagepoints
<br />1-2.....5.%) to the Current Index and rounding the result to the nearest one-eighth of one percentage point
<br />(0,125%). This rounded amount wi!! be the new rate of interest 1 am required 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 ~ %, The
<br />minimum interest rate I will be required to pay on this loan will be no less thanJII-a.-__ %;
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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 />llKPROVISION A(4) applicable only if this box is checked.
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<br />(4) Limit on Interest Rate Increases: The rate of interest I am required to pay shall never be increased or
<br />decreased on any single Rate Change Date by more than ...,L..... % from the rate of interest I have been paying,
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<br />(51 Effective Dateof Changes: The new rate of interest will become effective on each Rate Change Date, I
<br />will pay the new amount of my monthly 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 1 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 changes 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 matters which the Note Holder is required to disclose,
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<br />C) ProvisionsA(7), A(8),A(9), and A(tol applicable only ifthis box is che<:ked,
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<br />m Borrower's Right To Limit Monthly Payment: Unless Sections Al91 and AnD) below will not permit me
<br />. to do 50. I may choose to limit the amount of my new monthly payment following a Rate Change Oat" to the
<br />l\lDOunt 1 have been paying multiplied by the number] ,075, This amount is calk<d the "Limited Payment." If
<br />I choose a Limited Payment as my monthly payment, I must give the Note Boldor notice that lam doing so
<br />at least 15 days before my first neW monthly paym('nt is due,
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