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<br />d4 -, 003653
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<br />ADJUSTABLE RATE LOAN RIDER
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<br />NOTICE: THE SECURITY INSTRUMENT SECURES A NOTE WHICH CON-
<br />TAINS A PROVISION ALLOWING FOR CHANGES IN THE INTEREST
<br />RATE. INCREASES IN THE INTEREST RATE WILL RESULT IN HIGHER
<br />PAYMENTS, DECREASES IN THE INTEREST RATE MAY RESUI:.T IN
<br />LOWER PAYMENTS,
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<br />This Rider is made this ~_ day of_----'!u1v .19~ and is incorporated into and
<br />shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt (the "Security
<br />Instrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Note to THE
<br />EQUITABLE BUILDING AND LOAN ASSOCIATION OF GRAND ISLAND, NEBRASKA (the "Lender''j of the
<br />same date (the "Note") and covering the property described in the Security Instrument and located at
<br />4188 Arizona, Grand Is!~ NE 68801
<br />Property Address
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<br />MODIFICATIONS, In addition to the convenants and 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 _13--%. The Note provides for changes in the interest rate and the
<br />monthly payment as follows:
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<br />(1) Rate Change Dates and Frequency Thereof: Beginning in 19-54--, the rate of interest I must pay-may
<br />change in the first day of the montlL August (Month After ClosingMonthl, and on
<br />that day every 12 months thereafter, Each date on wr'. '1 the rate of interest could chang!! is called
<br />a "Rate Chang!! Date,"
<br />(2) The Index: Any changes in the rate of interest '...JI be based on an Index, The "Index" is !X the Monthly
<br />Average Yield on United States Treasury securities adjusted to a constant maturity of _ 6 months
<br />~l year _3 years _ __ _5 years as made available by the Federal Reserve Board, or 0 the Na-
<br />tional Monthly Median Cost of Funds (annualized) to FSLIC Insured Savings and Loan Associations,asmade
<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 lO..59..% , 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 chang!! in my
<br />rate of interest, The Note Holder will calculate my new interest rate by adding _-L-percentag!!points
<br />(~%) to the Current Index and rounding the result to the nearest one-eighth of one percentag!! point
<br />(0,125%), This rounded amount will be the new rate of interest I am required to pay,
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<br />The maximum interest rate I 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 will be no less than ...n/.a.--- %,
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<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 of this calculation is called the "Full Payment" and will be the new amount of my
<br />monthly payment.
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<br />[1 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 I am required to pay shall never be increased or
<br />decreased on any single Rate 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) Nntice of Changes: The Note Holder will mail or deliver to me a notice of any changes before each Rate
<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 />LJ Provisions Am, A(B), A{91, and A(lO) applicable only if this box is checked,
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<br />m Sorrower'sRight To Limit Monthly Payment: Unless Sections A(9) and A(lO) below will not permit me
<br />to do so, I may choose to limit the amount of my new monthly payment following a Rate Change Date to the
<br />amount I have been paying multiplied by the number 1.075, This amount is called the "Limited Payment." If
<br />1 choose a Limited Payment as my monthly payment, I must give the Note Holder notice (.hat I am doing so
<br />at least 15 days before my first new monthly payment is due.
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