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84 - ~03537 r RID E R NOTICE: THE MORTGAGE SECURES A NOTE WHICH CONTAINS A PROVISION ALLOWING FOR CHANGES IN THE INTEREST RATE.. INCREASES IN THE INTEREST RATE WILlRESUl T IN HIGHER PAYMENTS, DECREASES IN THE INTEREST RATE Will RESULTIN LOWER PAYMENTS, This Rider is made this ~ day of July . ' 198~,andis incorporated into and shall be deemed to amend and supplement the Mcirwage;.of' even date and attached hereto given by the undersigned. (theuBo/r-Qwerl')t() secure Borrower's Note to Norwest Bank Grand Island, National Assoc.;ati~n'. (the "lender") of the same date (the "Note") and co.vering. .the.prOPllrtYd. a.s. c.(r.ib..e.....d........)...... in the Mortgage and located at The North Half of the Northeast .Quar:ter. NlzNE!:o..o,f.. Section Thirteen (13) in Township len (10) North, Range Ten(lO);Westotthebthp,~"( excepti nq a certai n tract of 1 anc:j descri bed 1 n Deed recorded inBook'135.<Paqe2g3..a~d. a certain tract of land described in Def'dRecordedas Document No. 79-0g45~2of.p~e~ Records of Hall County, Nebraska, (Route 2 Box 108, Grand IsJandiNebraska) Modifications, In addition to the covenants andagreementsmade.;inttfe' Mortgage, Borrower and Lender further covenant and agree as.follows: .' '. A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note has an "Initial Inte>r'!sl Kate" of 12.0 %. The Nole interest rate may be increased or ";..:.creased on each Change Date, as described in the Note, Changes in the interest rate. are governed by changes in an "Index." The Index is,t~e weekly averagevield Of One Year United States Treasury Secur1t1es adjusted to a constant matur1ty of one year. , determined in the secondcalendarmcinth preceding each Change Date. Such changes in interest rate will occur on Februa ry I, 1986 and annua 11.1 thereafter , I ncreases and decreases in the interest rate are limited to a change of ~% each Change Date. If the interest rate changes, the amount of Borrower's monthly payments will change as provided in the Note. Increases in the inter- est rate will result in higher payments, Decreases in the interest rate will result in lower payments. B, LOAN CHARGES It couid be that the loan secured by the Mortgage is subject to a law which sets maximum loan charges and that law is interpreted so that the interest or other loan charges collected or to be collected!n .connection with the loan would exceed permitted limits, In this event, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower, C. TRANSFER OF THE PROPERTY I f there is any transfer of the property, including a transfer described in Paragraph 17 of the Mortgage, Lender may require either an increase in the current Note interest rate, an'increase in the Base Index figure, or a change of any or the loan terms, as a condition of Lender waiving, the option to accelerate provided in Paragraph 17, L By Signing this, Borrower agrees to all of the above. ,/ . L dVli~~;,\~,.rvr~d\!~ ;..';~i~~.~ rower 8orrower- }~YiCe' Hd'ke ; :,_.,-^~,