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<br />84,-- 004609
<br />ADJUSTABLE RATE RIDER
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<br />THIS ADJUSTABLE RATE RIDER is made this 28th day of AU>lust ,19~,
<br />and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed or Trust, or Deed to Secure Debt (the "Security
<br />Instrument") ofthe same date given by the undersigned (the "Borrower") to secure Borrower's Adjustable Rate Noteto HOME:FEDERAL,
<br />SAVINGS & LOAN ASSOCIATION OF GRAND ISLAND, NEBRASKA (the "Lender") ofthe.amedate(lh,,"Not~')
<br />and covering the property described in the SeCurity Instrument and located at:
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<br />408 West 12th, Wood River, NE
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<br />68883
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<br />(Property Address)
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<br />The Nole contains provisions allowing for cbanges in the -interest raie. If tbe, interest '_~te
<br />increases, tbe BOnower's monthly payments will- be higber. If tbe interest rate decreases, the
<br />Borrower's monthly payments will be lower.
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<br />ADDITIONAL COVENANTS, In addition to the covenant and agreements made in the Security Instrument, Borrower and Lender
<br />further covenant and agree as follows:
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<br />A, INTEREST RATE AND MONTHLY PAYM-ENT CHA.I'\!GES
<br />The Note provides for an initial interest rate of 13 070. Section 4 of the Note provides for changes in- the interestj'aie>'andthe;-~
<br />monthly payments, as follows:
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<br />4, INTEREST RA TE AND MONTHL Y PA YMENTCHANGES
<br />(A) Change Dales
<br />The interest rate I will pay may change on the ! st ,dayof October ,1985>, arid'
<br />on that day of the mont.."I every I 2 months thereafter. Each date on which my interest rate could cha.T!geis called a uChange-D.ak~.n
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<br />(B) The Index
<br />Beginning with the first Change Date, my interest rate will be based on an "Index," The Index is the weekly average yield on Uni~ed States
<br />Treasury securities adjusted to a constant maturity of one years, as made available by the Federal Reserve Board. The mQS,t
<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 Hcilder
<br />will give me notice of its choice.
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<br />(C) Calcnlation or Changes
<br />Before each Change Date, the Note Holder will calculate my now interest rate by adding th ree and one- ha I f percentage poinls
<br />( 3,5 OJ.) to the Current Index. and rounding to the nearest 1/8'70, The sum will be my new interest rate, The minimum interest rate
<br />on this loan will be no less than I 0 OJ.. The maximum interest rate on this loan will be no more than I 6, 5 'lo,
<br />The Note Holder will then determine the amount or the monthly payment that would be sufficient to repay in ruU the principal I am
<br />expected to owe on the Change Date in substantially equal payments by the maturity d~!e 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) E((ective Date or Changes
<br />My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment beginning 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) Nntice or Changes
<br />The Note Holder will mail or deliver to me a notice before each Change Date. The notice will advise me of:
<br />(i) the new interest rate on my loan as of the Change Date;
<br />(ii) the amount or my monthly payment following 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; UENS
<br />Uniform Covemutl 4 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 />aitain 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 notices of amounts due under this paragraph, and in the event Borrower shall make payment directly. Borrower shall promptly
<br />furnish to Lender 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 obligation 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. legal proceedings which in the opinion of Lender operate to prevent the enforcement of the Hen 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 />Security Instrument.
<br />lf Lender 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 />shall give Borrower a notice identifying such lien. Borrower shaH satisfy such lien or tak.e one or morc of the actions set fOrlh above within ten
<br />days of lhe giving of the notice,
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<br />c. . NOTICE
<br />Uniform Covenant 14 of the Security Instrument is amended to read as follow:-,:;
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<br />14. Notice. Except for any notlc..'e required under applicable law 10 be given in another manner, (a) any notice 10 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 olher address
<br />as Borrower may designate by notice to Lender as provided herein. and (b) any notice 10 lender s.hall be given by first dass mail to Lender's
<br />address stated herein Or to such other address as Lender may designate by notice to Borrower as provided herein, Any notice provided for in this
<br />Securit.y Instrument shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
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