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<br />003681
<br />ADJUSTABLERAT:ERlDER
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<br />84--
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<br />4218 Manchester. Grandlsland~ Nebraska
<br />(property Address)
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<br />The Nole conWns provisions allowing for 'changes in lheinteres1nitei~t~ln~fIl.e
<br />increases, the Borrower's monthly payments ,will be' hlgber,' If'tbelnlerest, rate' de<reues": tJie',
<br />Borrower's monthly payments will be lower.' ,.
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<br />THISADJUSTABLERATERIDERismadethis ,',' llthdllYOf ," ", ",', " ",' ",,' : ""',, :','", ,"','" "",1
<br />and is incorporated into and sbaUbe deemed to amend and snpp1ent\'l1t the Mortgage. IJeedOf1'~'or'J?Oeci"Q~.,IJOb~(~
<br />Instrumenl")' of the sa:me date given by the nndersigned,{the "BOrrower~') to _ellottower'sAdjustableR",""lotelo'i,
<br />SAVINGS," LOAN' ASSOCIATION ',OF GRAND ISLAND,NEBRAsKA " (the !'t.endef'')Oflh<l~d~dI"i;tl>(Oi~~,~'':,!
<br />and covering_the property described intheSecurity Instrument'and located-at: " , -
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<br />ADDITIONAL COVENANTS, In addition to the covenant and agreements made in the SOcnrjty'IiIstrumellt"BOrro",erandl#'~"
<br />further covenant and agree as rollows: ::,:,i~??\' '
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<br />A. INTERESTRATEANDMONTHLYPAYMENTCHANGES _.' _ _ <:- _, ,"> , ,:~,:..-:.":.,,;:::;,,:;,-,,.;:::,:-};:":'::t..
<br />The Note provides ror an initial interest rate of 11.5 .,., Section 40r the Note provides for changes inthe,iriter~:tate,'aDd''tJie:r:''
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<br />monthly payments" as follows: '-,-' :'-'::::;-\':,-":'_-;-;\~:::-_~::>;~
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<br />4, INTERESTRATEANDMONTHLYPAYMENTClfANGES ... .::':\'G:'F
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<br />(A) ChangeDates .. ......i>;>
<br />Theinterestratelwillpaymaychangeonthc 1st day or Seotember. . . . ... . .19,a5,.:~:},'.
<br />on that day of the month every 12 months. thereafter. Each date on which [Y'V interest rate could change'is-ca1led'-aJ'C~_D~te~~~--- - 0
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<br />00 The Index
<br />Beginning with-the fIrst Change Date, my interest rate will be based on an "Index." The Index is the weeidY3\.'er~-yield--on--t)hited-St#tes"-
<br />Treasury securities adjusted to a constant matr.ritv of nnp years, as made available by -the Federal ReServe-,Boai(L:Th_e_ itwst;
<br />recent Index figure available as of 45 days before each Change Date is called the- "Current Index."
<br />If the Index is no longer available. the Note Holder will choose a new index which is based upon comparable information. The Note Hol4~"
<br />will give me notice of its choice.
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<br />(C) Calculation of Cbanges
<br />Before each Change Date, the Note Holder will calculate my new interest rate by adding thIn Rnr1 nnp_h;:! 1 f percentag~ Witits
<br />( . 2.5 070) to the Current Index, and rounding to the nearest 1/8070. The sum-will be my new interest rate. The minimum interest:rate
<br />on this loan wiD be no less than CJ S %, The maximum interest rate on this.loan will he no more than -~_%,
<br />The Note Holder wiD the.. determine the amount of the monthly payment that would be sufficient to repay in full the priricipalJam
<br />expected to owe on the Change,Date in substantially equal payments by the maturity date at my new interest rate. The result of this calculation
<br />will be the new amount of my monthly payment.
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<br />(D) Effective Dale of Changes
<br />My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment beglfining, on the: first
<br />monthly payment date after the Change Date until the amount of my monthly payment changes again.
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<br />(E) Notice of Cbanges
<br />The Note Holder will mail or deliver 10 me a notice before each Change Date. The notice will advise me of:
<br />(i) the new interest rate on my.}oan as of the Change Date;
<br />(ii) the amount or my monthly payment rollowing the Change Date;
<br />(Hi) any additional matters which the Note Holder is required to disclose; and
<br />(iv) the title and telephone number of a person who will answer any question I may have regarding the notice.
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<br />B. CHARGES; IJENS
<br />Uniform'.covenant4 of the Security Instrument is amended to read as follows:
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<br />4. Cbarges; liens. Borrower shall pay all taxes, assessments, and other charges, fines and impositions attributable to the Property which may
<br />at_lain a priority over this Security-Instrument, and leasehold payments of ground rents, if any, in the manner provided under paragraph 2 hereof
<br />or,-if not-paid ,in such manner, by ,Borrower making payment, when due, directly to the payee thereof. Borrower shall promptly furnish to
<br />Lender all nOlices of. amounts duer under this paragraph, and in the event Borrower shall make pa:yment directly, Borrower. shall promptly
<br />furni.sh to Len~er - receipts evidencing, such payments. Borrower shall promptly discharge any lien which has priority over this Security
<br />Instrument; however,' Borrower shall not be required to discharge any such lien so long as Borrower: (a) shall agree in writing to the payment of
<br />the oblig,ation secured by such lien in a manner acceptable to Lender; (b) shall in-good faith contest such lien by, or defend against enforcement
<br />of such' lien in, Jepl proceedings which in the opinion of Lender operate to prevent the enforcement of the lien or forfeiture of the'Property or
<br />any Part thereof; Or (c) shall secure from the holder of such lien an agreement in a form satisfactory to Lender subordinating such lien to this
<br />Sec~r.i9', Instrument.
<br />1f:LeI:l.(i~, determines_ that-all.or any-part of the Property is subject to a lien which may attain a priority over this Security Instrument, Lender
<br />shallgiye Borrower- a "notice identifying such lien. Borrower shall .satisfy such lien or take one or morc of the actions set forth above within ten
<br />days or the givirig ofthe notice,
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<br />C. N!)TICE
<br />Uniform. Covenant 14 of the Security Instrument is amended to read as follows:
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<br />14.:, No~(;e. ~cept for any notice required under applicable law to be given 1n another manner. (a) any notice to Borrower provided for in this
<br />SeCurity Instrument shall be- given by delivering ,it or by mailing it by first class mail to Borrower at the Property Address or at such other address
<br />as Borrow~ nlaydesignate_bynotice to Lender as provi_ded herein, and. (b) any ,notice-to Lender shd.LI be- gi..,(.,u by tJr!.1 class mail [0 Lend~r's
<br />addr~s stated ~erein_ or to such_ other address as Lender may designate by notice to Borrower as provided herem. Any notice provided for in this
<br />Security Instrument shall be. deemed to have been given to Borrower or Lender when given in the mannCJ designaled hereiu.
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