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<br />84- 004587
<br />ADJUSTABLE RATE LOAN RIDER
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<br />NOTICE: THE SECURITY INSTRUMENT SECURES A NOTE WHICHcpN'
<br />TAINS A PROVISION ALLOWING FOR CHANGES IN THEINTEJlEST
<br />RATE, INCREASES IN THE INTEREST RATE WILL RESUI..TINHl(jlIER
<br />PAYMENTS. DECREASES IN THE INTEREST RATE MAY. RESULT IN
<br />LOWERPA YMENTS,
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<br />This Rider is made this ~ day of lII'gJ,,,t-.. ' 19~ and is ineorporatediI1~.'and{
<br />shall be deemed to amend and supplement the Mortgage; Deed of Trust, or DeedtoSecureDebt(th~,,,~~y
<br />Instrument") of the same date given by tbe undersigned (the "Borrower") to secure Borrower's'NoteJ;o.J'ftEr:
<br />EQUITABLE BUILDING AND LOAN ASSOCIATION OFGRAND ISLAND. NEBRASKA (the "Under'') bftoo'
<br />same date (the "Note") and covering the property described in the Security Instrument and located at
<br />3552 Laura Ave.. Grand Island. NE 68801
<br />Property Address
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<br />MODIFICATIONS, In addition to the convenants and agreements made in the Security Instrument..Hor-.
<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 .l.2- %, The Note provides for changes in the interest ratecandthe
<br />monthly payment as follows:
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<br />(1) Rate Change Dates and Frequency Thereof: Beginning in 19__.85.-, the rate of interest I must pay may
<br />change in the fi rst day ofthe month SePternber.__ _(Month After Closing. Month), and on
<br />that day every 12 months thereafter, Each date c '!hie, , .1,e rate of interest could change is called
<br />a "Rate Change Date."
<br />(2) The Index: Any changes in the rate of interest will he based on an Index, The" Index" is Gl the Monthly
<br />Average Yield on United States Treasury securities adjusted to a constant maturity of _ 6 months
<br />-X-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. as made
<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 isll-fifL %, 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 />(31 Calculation of Changes: Before each Change Date, the Note Holder will determine any change in my
<br />rate of interest. The Note Holder will calculate my new interest rate by adding -2-percentage points
<br />(-~--_.- %) to the Current Index and rounding the result to the nearest one-eighth of one percentage 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 -lS-_._ %, The
<br />minimum interest rate I will be required to pay on this loan will be no less than -n/a--._''O,
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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 calculatioll is called the" Full Payment" and will be the new amount of my
<br />monthly payment.
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<br />,:' PROVISION A(41 applicable only if thiS box is checked,
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<br />(41 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 _ "c. from the rate of interest I have been paying.
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<br />(51 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 />(61 Notice of Changes: The Note Holder will mail or deliver to me a notice of any changes before each Hate
<br />Change Date, The Notice will advise me of the new interest rate on my loan, the amollnt of my new monthly
<br />payments, and any additional matters which the Note Holder is requir,'d to disdose,
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<br />Provisions Am. A(8), A(9), and A(101 applicable only if this box is ('hecked,
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<br />(7) Borrower's Right To Limit Monthly Payment: Unless Sections AWl and A(10) below will not permit me
<br />. to do so. I may choose to limit the amount of my new mOOlthly payment following a Hate 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 />I choose a Limited Payment as my monthly payment, I must give the Note Holder notice that 1 am doing so
<br />at least 15 days before my first new monthly payment b due,
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