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<br />84,- 004309
<br />ADJUSTABLE RATE LOAN RIDER
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<br />NOTICE: THE SECURITY INSTRUMENTSECURESANQT~'VlI~Cllcq)l;
<br />TAINS A PROVISION AU.oWINGFOR CHANGESIN'I'HEiINTEItEST
<br />RATE. INCREASES IN. THE INTERESTRATJlJWILhJtESUIdl'IN'1I1fJHEIt
<br />PAYMENTS, DECREASES 'INTHE INTERESTRATEMJ\Y.,RE$t}tT,'IN'
<br />LOWER. PAYMENTS.
<br />
<br />This Rider is made this.lst.-_ day of AI19)1Ji;fc .19-84.:-. andisin\1orp(lr4
<br />shall be deemed to amend and supplement the Mortgaga, Deed of Trust, ot' Deed to 8ecUhd)ilb!':
<br />Instrument ") of the same date given by the undersigned (thil "Borrower~') tosooUre'BOl'roiV
<br />EQUITABLE BUILDING AND LOAN ASSOCIATION OF GRAND ISLAND; NE8RASK'A{tbe,<,
<br />same date (the "Note") and covering the property described in .the Securitylnstr11meritaDdJllca~illr'/
<br />__2411 CocIUn", Grand ISland..._~_ 68S01 .
<br />ProP"tY Addn!ss
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<br />MODIFICATIONS, In addition to the convenants and agreements made in the'SecurityInstrulm!nt;'~,
<br />rower a...d Lender further covenant and agree as follows:
<br />A. INTEREST RATE Al".'D MONTHLY PAYMEl\'T CHANGES:
<br />The Note has an initi,,1 interest rate o:t'l.14--.%, The Note provides for changes in the interestrid:e.'lI.t1d.',th4t"
<br />monthly payment as follows: . .'
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<br />(l) Rate Change Dates and Frequency Thereof: Beginning in 19,.85-.-. t!te rate of interest! mustPaY',ilil!Y"
<br />change in the fi not: day of the mont!L OM-nhor __IMonthAfterClosing:Mo~thkl\nd\~'
<br />that day every 12 _months th"reafter, Each date '" ,,,dt the rate ofinterestcoUldcluutgeis~'c;'
<br />a "Rate Change Date." .., '-;"
<br />(2) The Index: Any changes in the rate of interest will he based on an Index, The "Index" islXtheMoD~'
<br />Average Yield on Uniu.>d States Treasury securities adjusted to a constantmaturityof'~ 6numth8,
<br />_A... I year ..' 3 w.ars _ _,. . ." v<,ars as made available by the Federal Reserve Board. or [)thel'fll~
<br />lion~1 M~nthlyr,.ledi~n 'COSI of ~'und~ i~nnualized) to FSLIC Insu~ Savings and Loan Associations;all1llllde-,
<br />available by the Federal Home Loan Bank Board. IChock only one hox,)
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<br />The first Index figure for this Note is lO..~.%, It is called tbe "Original Index," The most recently available
<br />Index figure as of 45 day" ;."fore each Rate dum~ is called the "Current Index."
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<br />I f the Index is no longer a"..ilable, the Noy, Holder will choose a neW index which is based uponcom~ble
<br />information. The Not<; Ilolder will give me notice of this choic..,
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<br />(31 Calculation of Chang"", Bt>!Ol'e .......h Change Hat<;, th.. Note Holder will determine any change in my
<br />rate of mten'st, Th.. :-lot,> Hoider will calculate my new illterest rate by adding .._2._Wcentage points
<br />L__.2_.._. %i to the Current llldex and rounding the r..~ult to th.. "earest t>ne-eighth of one percenUige point
<br />(0.125"')b1. This rounded amount will D€:.- the new rfttt" uf int-ere~t i am required to pay.
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<br />The maximum mtert'.t ratt' I wlll he rt'tjuired to pay 'lD this loan will b.. 110 mor.. tball ~%, The
<br />minimUTl'l int,erf:-st nth" j wiii t.w rt"tIUlrt>tJ to pay (Ill this loan will bt. no ieS8 than n/a.., _ _ <!-b.
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<br />Th" Note Holder will then d"temun.. the Ih'W amount of my mOllthly paym..nt whlch would be sufficient to
<br />repay the outstanding prindpal balance in full on the mat.urity dal.e at my new rate d .nterest in substantially
<br />equal paym..nts. The r..sult..f this "akulatiolt is ('alled th.. "Full Payment." and will be the new amount of my
<br />monthly paymt'nt.
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<br />PROViSION AI'I) applicabl.. ,,"ly ii this bux IS checked,
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<br />141 Limit 011 Intere.t Ralt' Increas....: The rat.. of Interest [ am re<Juin'<1 to pay shall n..ver be increased or
<br />decreased on allY single Ralt' Change Dat." by more l han from the rate of interest I have been paying,
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<br />151 };ffectiv<, Oate of Changes: The new rate of int..r..st will beconw effective on each Rate Change Date, 1
<br />will pay the lIew amount of my monthly payment each mOllth beginning on the first monthly payment date
<br />after the Rate Change Date until the amount of my mont.hl,V payment is again changed. or I ha"e fully repaid
<br />the loan,
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<br />{6~ Notice 01 Changes: The Note Holder wHl tHai! or uoHver t.o nH:~ u notice of any dUlnge:s be(or~ ('uch Rate
<br />Change Daloe, Tht.~ Noti(e will advi.se rne of the new int.erest rat(~ on my Juan, the amount. of my new monthly
<br />payments, and all)' additional UUlt.l.ers which the Note Hold", is "'<]llired t" disclos...
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<br />Provisioll5 A(7), At-Hl, 1\(91, and AtH)) applicabl.. only if thi" box IS ch.....ked,
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<br /><11 Bon-ow".'~ Right To l..imi~ MonthI,~' PIl)'menl: U nl,',,; S..':UOll'; AI91 and Ai IOi hdow w ill not (,<,rmil !lit'
<br />to do so, I may chOt.,-", to limit the amount of my !lew :nonl hi)' pll)'nlt'n!. following H Rate Chang" nllt.', to tht>
<br />IUtK1UIlt. I hav., 11...,n payill,1( multiplil'<i by thl' number 1.lnf>, This amount b eallt>d t.h,> "Limiwd PlIvmt'r'l." I r
<br />1 t'.hoo$(~ a t.i,nit.oo Payml'nt ,itS m,Y monthly pi-tymeut-, I rnu"..,t ~i\'P tlw Nute Holder notic\" that 1 o;n doing :-;;0
<br />alleast t S d$)''!l:i bcf{ll~ my first H('W mfH'tthJy p.aYfnl~nt i:-;. dUtl
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