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84- 003502 ADJUSTABLE RATE LOAN RIDER r NOTICE: THE SECURITY INSTRUMENT SECURES A NOTE WHICH CON. TAINSA PROVISION ALLOWING FOR CHANGES IN THE INTEREST RATE, INCREASES IN THE INTEREST RATE WILL RESULT INHIGIIER PAYMENTS, DECREASES IN THE INTEREST RATE MAvRESlJLTIN WWER PAYMENTS. This Rider is made this 29th . day of June .' 19JL andisinoorporatediIl~a:nd shall be deemed to amend and supplement the Mortgage. Deed of Trost, or Deed to Secure Debt (the "Sec!1llity Instrument"t of the same date given by the undersigned (the "Borrower") to secure Borrower'sNotett>:THE EQUITABLE BUILDING AND lOAN ASSOCIATION OFGRANDISLAND, NEBRASKA(the'.'Lender1rrorthe same date (the "Note") and covering the property described in the Security Instrument and Iocatecht 142] E. 9th St., Grand Island, NE 68801 Property Addres,. MODIFICATIONS, In addition to the convenants and agreements made in the Security I!1Strument/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 lJ4- %, The Note provides for changes in the monthly payment as follows: 12 months fran. the regulClr JllCXlthly pajllllel1t. '. '. .' . ..... (1) Rate Change Dates and Freqnency Thereof: Beginning ~.the rate ofllltel'9l1tlD1ustp~y.may' changedn the fi r"t' day of the mont~iancioll that day every 12 months thereafter. Each c. .', on which the rate of interest could eJufugeis.Calloo' a "Rate Change Date," (2) The Index: Any changes in the rate of interest will be based on an Index, The."lndex" is OlItheMOntlrly Average Yield on United Statee Treasury securities adjusted to a constant maturityof~6monthS X-l year _3 years _5 years as made available by the Federal Reserve Board. orOtheNa' tional Monthly Median Cost of Funds (annualized) to FSLIC Insured Savings and Loan Associations; as made' available by the Federal Home Loan Bank Board, (Check only one box.) The first I ndex figure for this Note isl.O...59- %, It is called the "Original Index," The most recently availa:ble 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 give me notice of this choice, (31 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 ~percentegepoints (~%) 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 to pay on this loan will be no more than ~%, The~ minimum interest rate 1 will be required to pay on this Joan will be no less thannta__%. The Note Holder will then ueLertnine the new arnuunt of illY monthly payulent 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 calculatioll is called the "Full Payment" and will be the new amount of my monthly payment, (li! PROVISION A(41 applicable only if this box is checked, (4) Limit on Interest Rate Increases: The rate of interest I am required to pay shall never be increased or decreased On any single Rate Change Date by more than ~_.1_... "0 from the rate of interest I have been paying, (5) Effective Date of Changes: The new rate of interest will become effective on each Rate Change Date, I 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 montWy 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 notice of any changes before each Rate Change Date. The. Notice will advise me of the new interest rate on my loan, the amount of my new monthly payments. and any additional matters which the Note Holder is required to disclose, Provisions A(7), A181. A(91, and A!1Ol applicable only if this box is checked, L m Borrower's Right To Limit Monthly Payment: Unless Sections Ami and ADO! below will not permit me to do so, I may choose to limit the amount of my oew mOllthly payment following a Rat<. Change DaLe to the amount I have been paying multiplied by the number 1.075. This amount is ('alled the" LimiteI choolle a Limite<! Payment as my monthly paymellt, 1 must give tIll! N,>tt. Holder notice that I am dt'ing sO at lI'aat J 5 days before my first new monthly payment io due.