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84 - 003565 ADJUSTABLE RATE LOAN RIDER r 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_2-1i!._ day of July , 19a..i- and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust. or Deed to Secure Debt~the"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") ofthe same date (the "Note") and covering the property described in the Security Instrument and loCated at ____.-J.ll.OA Barbara,~L 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 ..D-_ %, 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.....85.-, the rate of interest I must'paYrl1aY change in the f i r<:r day ofthe month.. .1111 y (Month After Closing Month), and(ln that day every 1;> months thereafter, Each clate, which the rate of interest could change.is callii,l a "Rate Change Date," (2) The Index: Any changes in the rate of interest will be based on an Index, The "Index" is:lD the Monthly Average Yield on United States Treasury securities adjusted to a constant maturity of ,~6;;months ~1 year _3 years _5 years as made available by the Federal Reserve Board. or uthe Na- tional Monthly Median Cost of Funds (annualized I to FSLIC Insured Savings and Loan Associations, as made. available by the Federal Home Loan Bank Board, ICheck only one box,) The first Index figure for this Note is lO....9.Q%. 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 give 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 ~percentagepoints '-.2..L.%1 to the Current Index and rounding the result to the nearest one-eighth olone percentage point 10,125%), This rounded amount will be the J;lew rate of interest I am required to pay, The maximum interest rate I will be required to pay on this loan will be no morethan~ %, .The minimum interest rate 1 will be required to pay on this loan will be no less thann,La...__ %, 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 amo\lI1t (If my monthly payment. i.X PROVISION AI41 applicable only if this box is checked, (4) Limit on Interest Rate Increases: The rate 01 interest 1 am required to pay shall never be increased or d~l-cr{'D.r-:('-d 0n n~y Jingle R2tC Ch::'l1bC Dat:::; ~y :;:-"Ql'C thuI: ___L ". {'~ :rCJl: -::hc r:lLs of inte:;:"(:;st I h~\'i} b0sn payil:g. (5) Effective Date of Changes: The new raLe 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 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 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 thp Note Holder is mquired to disclose, Provisions A17), A(8). AI9). and AOOI applicable only if this box is ehecked. L a) Borrower'fj Right To Lirnit ~lonthly Pa.yment: Unless Sections Ai9) and AOO) belov..- wii1 not pennii me to do so, I may choose to limit the amount of my new monthly payment following a Rate Change Date to the amount I have been paying multiplied by the number 1.075. This amount is called the "Limited Payment." If I choose a Limitpd PaynH,nt as my monthly payment, I must "ive the Note Holdpr notice that I am doing so at least 15 days before my first new monthly paympnt is due,