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<br />ADJUSTABLE RATE RIDER
<br />84- 004396
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<br />THIS ADJUSTABLE RATE RIDER is made this 24th day of . . Auqust . . .' .' ......,J9.8~,
<br />and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure DeI1t(tI1'1' ~'security .
<br />Instrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Adjustable Ra~e Note to. . HOM.E.FEPERAt..
<br />SAVINGS & LOAN ASSOCIATION OF GRANPISLANP. NEBRASKA (the"Lender")ofth"same<llite(thi'~JIl:ol~1J.
<br />and covering the property described in the Security Instrument and located at: -,. - -,
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<br />4, INTEREST RA TE AND M01'THL Y PA YMENT CHANGES
<br />(A) Change Dates
<br />The interest rate I will pay may change on the 1 st day of nrtnhpT' ,19.'-:- Al;.';' -~,and
<br />on that day of the month every 1 ? months thereafter. E~ch date on "'. ~1n.h my interest rate could cbange,is ~:a ~'Cliange_-natei-f_~
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<br />1021 West Koenig, Grand Island, Nebraska
<br />(property Address)
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<br />The Note contains provisions allowing for changes In the interest rate.' If the 'intei'est .rate
<br />increases, tbe Borrower's montbly payments will-be bigher. U tbe .interest rate-decreases,_:the
<br />Borrower's monthly payments will be lower.
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<br />A, INTEREST RATE AND MONTHLY PAYMENT CHANGES
<br />The Note provides for an initial interest rate of 13 fila. Section 4 of the Note provides for ciUmges in-tbe_,intereSf-rate:-an(H:lw-~-
<br />monthly payments, as follows:
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<br />(B) The Index
<br />Beginning with the first Change Dale, my interest rate will be based on an "Jndex." The Index is the weekly average yield-on United States
<br />Treasury securities adjusted to a constant maturity of gng years, as made available by the Federal ' Reserve BOard:.,'rhc'most:
<br />recent Index figure available as of 45 days before each Change Date is called the I'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 Holder_
<br />will give me notice of its choice.
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<br />(C) CaIeulalloD 01 Chlllll!es
<br />Before each Change Date~ the Note Hoider will calculate my new interest rate by adding three and one-half percentagepomts
<br />( 3. 5 ~Q) to the Current Index. and rounding to the nearest J/8070. The sum will be my new interest rate. The minimum interest rate
<br />00: this loan will be no less than 10.0 OJe. The maximum interest rate on this loan will be no more than 16.0 fI1o.
<br />The Note Hoider will then determine the amount of the monthly pa) ment that would be sufficient to repay in full the principal 1 am
<br />expected to owe on the Change Date in substantially equal paymt:nts by the maturity date at my new interest rate. The result of this calculation
<br />\\-ill be the new amount of my monthly payment-
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<br />(D) Eff""ll.. Date 01 Changes
<br />My new interest rate will bee-orne effective on each Change Date. I wHl pay the amount of my new monthly payment beginning on the first
<br />momhly paymem date afler tht Change Date until the amount of my monthly payment changes again.
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<br />(t:) Notice of Changes
<br />The Note Holder ,,,-ill mctil or deliver to me a notil:e before eadl Change Dale, fhe notice will advise me of:
<br />(i) the new int~r~Sl rat~ on my loan as of the Change Dale;
<br />(Ii) the amounl of my monthly payment following the Change Date;
<br />(iii) .lfly additional matters which the Note Holder I~ requirt'd to dlsdose; and
<br />(Iv) me title and Idephone number of a person who will answer any question 1 may have regarding the nmice,
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<br />8, CHARGES: UENS
<br />Uniform Covenam 4 of the Securi[y Instrument is .inll'nded to read as follow:):
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<br />4. Charg:es; Ueos. Borrower shall pay aU taxes. 33sessmenb, and other charges. fines and. lInposiuons attributable to the Property which may
<br />attain a priority O\..er this ~urity Instrument, and leasehold payments of ground rents, if any. m the mannef provided under paragraph 2 hereof
<br />Of, if not paid in such manner, by Borrower making payment, ",,-hen due, diredly lU {he payee thereof. Borrower shall promptly furnish to
<br />Lender aU notices of amounts due under chis paragraph, and In the event Borrower shall make paymem dirtXtly, Borrower shall promptly
<br />furnish to Lender re>.:t':lpl~ t':\'lden':':lUg su..:h payments. Borrower shall promptly I.hs.chajgc any hen which hOb priority over this. Security
<br />Instrument; however. Borro....c. shall not be requireJ to discharge any such bell S-O long a~ Borrower: la, shall agfiX m wrilUlg to the paymem Df
<br />tbe obtigal1on ..ecured by .'luch lien in a manner a.:ceptable to Lt"odcr; (b) shall III good fanh ("<JlHest sadl hen by, ~)r defend againM enforcement
<br />of _'uch hen Hi, legal pr\-xeedings whj..;h in {he OplnlllH 01 lender operate- 10 pn:"~nt the enfon.:cUlt:nt llf {he llt:n or forfeiture of lht' PruperLY Of
<br />any p.a.;t thcrt..-of; or tel shall...ecure from rht' holder ,Jf :;Udl hen an 3.grlXmeni In ~I f(\rm )<itl~ta..'h)r::. to Lt'nJC'! subou.hnatHlg ~uch he-u to Ihi"
<br />SecUrHy Instrument.
<br />If Lender determine~ that all or .lny part ol1he Property I.'> ~ubJ':''''''[ (,..., he'll \\htdll1l~t) ~l\[~ilB.:l. p\lOrll~. \.l\\,;l 11m ~<:-..:tlfl(~ in.strumnH, i cmi!..'l
<br />~hall gnc Borr\)wt:r a nO{l~;'; identifying :,<w.:h hen, Borro',\-.:!' ~haU ,;.Hbt\ ,ud~ ne'll ,'! ,.1l..;: ..m.... ,x 1iI..11(.." tflt' ;H.{hlll, ..t't !nnh .ub\)\~ \\Hhin tt'n
<br />day!> of the- gn'ins. (Jf I he noti~c.
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