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<br />84 - 003430
<br />ADJUSTABLE RATE LOAN RIDER
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<br />NOTICE: THE SECURITY INSTRUMENT SECURES A NOTEWHICHCON.
<br />TAINS A PROVISION ALLOWING FOR CHANGES IN THE INTEREST
<br />RATE, INCREASES IN THE INTEREST RATEWILLRESULTINgIGHER~
<br />PAYMENTS, DECREASES IN THE INTEREST RATEMAY.RESULT'IN
<br />L.oWER PAYMENTS.
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<br />This Rider is made this 27th day of June , lL~ andisincorpt>>."atedin1;cja~d\
<br />shall be deemed to amend and supplement the Mortgage; Deed of Trust. or Deed to SecureDebt,(thef'~~y .
<br />Instrument") of the same date given by the undersigned (the "Borrower") to secure Borrowilr's'NotetO'TftE"
<br />EQUITABLE BUILDING AND LOAN ASSOCIATION OF GRAND ISLAND, NEBRASKA (the"Lend~')of1;hlv
<br />same date (the "Note") and covering the property described in the Security Instrumentandlocated;~t
<br />2128 N. Custer. Grani Islani. NE .
<br />Property Address
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<br />MODIFICATIONS. In addition to the convenantsand 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 .D..- %, The Note provides for changes in the interest rate.an.d,the'
<br />monthly payment as follows:
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<br />m Rate Change Dates and Frequency Thereof: Beginning in 19_-85--. the rate of iI1terestlmustplly)n~y
<br />changecj,n the f'i r,,1- day ofthe month....- ,T111y IMonth AfterClosing;Mo~th)ian(ion;
<br />that day every 12 months thereafter. E, <:late on which the rate of interest could changEliscalled
<br />a "Rate Change Date,"
<br />(2) The Index: Any changes in the rate of interest will be based on an Index. The "Index" is IX the Monthly'
<br />Average Yield on United States 'T'rl"asury securities adjusted to a constsnt maturity of _6montits
<br />~l year __3 years _5 years as made available by the Federal Reserve Board, 01'0 theNa-
<br />tional Monthly Median Cost of Funds lannualizedl to 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 10-..59-'70. 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 upon comparable
<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-.-._percentage points
<br />L~ %) to the Current Index and rounding the result to the nearest one-eighth of one percentage poillt
<br />(0,125%). This rounded amount will be the new rate of interest I am required to pay.
<br />
<br />The maximum interest rate 1 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 wiil be no less than, :rVa...-.- 'Yo.
<br />
<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 01 this calculation is called the "Full Payment" and will be the new amount of my
<br />monthly payment,
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<br />PROVISION A(4) applicable only if this box is checked,
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<br />(4) Limit on Interest Rate Increases: The rate of interest 1 am required to pay shall never be increased or
<br />decreased on any single Hate Change Date by more than % from the rate of interest I have been paying.
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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 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 I 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 Hate
<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 />Provisions A (71, A(81, A(9), and A\10) applicable only if this box is chec.ked,
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<br />m Borrower's Right To Limit MonthJyPayment: Unless Sections AWl und All0) below will not permit me
<br />to do so, I may choose to limit the amount of my new monthly payment following a Hate Change Date to the
<br />amount I have been paying multiplied by the number] .075. This amount is called lhe "Limited Payment." If
<br />I choose a LimitE"d Payment as Iny monthly payment. f must give the Not.e fioldt~r notice that I am doing sn
<br />lit le88t 15 days before illY first new monthly payment. IS due.
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