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84- 003423 ADJUSTABLE RATE LOAN RIDER NOTICE: THE SECURITY INSTRUMENT SECURES A NOTE WHICH CON. TAINS A PROVISION ALLOWING FOR CHANGES IN.THE INTEREST RATE. INCREASES IN THE INTEREST RATE WILL RESULT IN HIGHER PAYMENTS. DECREASES IN THE INTEREST RATE MAY RESULT IN LOWER PAYMENTS, This Rider is made this -.21.1;;lL day of .Tnnp , 19-84- and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt (too"Security Instrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Note to THE EQUITABLE BUILDING AND LOAN ASSOCIATION OF GRAND ISLAND, NEBRASKA (the"Lender~ToHhe same date (the "Note") and covering the property described in the Security Instrument and located at 515 East 15th st., Grand Island, NE 68801 Property Address MODIFICATIONS, In addition to the convenants and agreements made in the Security Instrument, Bor- rower and Lender further covenant and agree as follows: A, INTEREST RATE AND MONTHLY PAYMENT CHANGES: The Note has an initial interest rate of llL %, The Note provides for changes in the interest rate and the monthly payment as follows: (1) Rate Change Dates and Frequency Thereof: Beginning in 19.~, the rate of interest I must pay may change OJ the first day of the month Jul V (Month After ClosingMonth),andon that day every. 12 months thereafter, Ep"h date on which the rate of interest could change is called a "Rate Change Date," (2) The Index: Any changes in the rate of interest WIll be based on an Index, The "Index" is IX the Monthly Average Yield on United States Treasury securities adjusted to a constant maturity of _ 6 months L-I year._3 years _ 5 years as made available by the Federal Reserve Board. orD the.Na, tional Monthly Median Cost of Funds lannualized! to FSLIC Insured Savings and Loan Associations; as made available by the Federal Home Loan Bank Board, I.Check only one box.! The first Index figure for this Note is ..JJL..i9'o. It is called the "Original Index, "The most recently available Index figure as of 45 days before each Rate change is called the "Current Index," If the Index is no longer available, the Note Holder will choose a new index which is based upon comparable information. The Note Holder will !,,;ve me notice of this choice, (3) Calculation of Changes: Before each Change Date, the Note Holder will determine any change in my rate of interest, The Note Holder will calculate my new interest rate by adding _.2..!i-percentage points (_4---5--%) to the Current Index and rounding the result to the nearest one-eighth of one percentage point (0.125%1. This rounded amount will be the new rate of interest I am required to pay, The maximum interest rate I will be required [0 pay on this loan will be no more than ~!l~_ %, The lninimum interest rate j will he required to pay on this loan wil1 be no less than __nLL____'''7o. The Note Holder will then determine the new amount of my monthly payment which would be sufficient to repay the outstanding principal balance in full on the maturity date at my new rate of interest in substantially equal payments, The result of this calculation is called the "Full Payment" and will be the new amount of my monthly paym~nt. :.x PROVISION A14! applicable only if this box is checked. (4) Limit on interest Rate Increases: The rute of interest J am required to pay shall never be increased or decreased on any single Rate Change Dale hy' more than -L fr<)lH the rate of int.erest I have heen paying. (5) Effective Date of Changes: The new rat.e of interest will become effective on each Rate Change Date, [ will pay the new amount of my monthly payment each month beginning on the first monthly payment date after the Rate Change Date until the amount of my monthly payment is again changed, or I have fully repaid the loan, (6) Notice of Changes: The Note Holder will mail or deliver to me a nOLice of any changes before each Hate Change Date. The Notice will advise me of the new interest rat.e on mv loan, t.he umount of nrv new I1wnthlv payments, and any additional matters which the Note Holder is required to disclose,' . Provisions A17), A181. A(9), and AI1O! "pplicable only if tillS box !s checked. m Borrower's Right To Limit Monthly Pay-ment: Unless St",tions Al91 and AI] 01 bdow will not pimnil nll' to do so, ]' ITlay choose t.o limit th(: akuOtml of my new rnoFthly paym(~nt following u Kale Changl; DtlLe to the amount I have b(~en paying multiplied b)-' the number] .076. This amount i~ culled the" Lltnitctt Puyownt.. J I 1 choos(~ a Limited Payment.as my rnonthly payment. I must givt: tht~ ~(J[.t, Hoi,dt:.or nollCl..' that I am doing.:::o alleast. U) days hefore my first new munthly pa.yrnent b due.