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<br />84- 005381
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<br />ADJUSTABLE RATE RIDER
<br />
<br />'......
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<br />THIS ADJUSTABLE RATE RIDER is made this 6th day of October ,19~,
<br />and is incorPorated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt (the "Security
<br />lostrumelll"} of the same date given by the nndersigned (the "Borrower") to seCure Borrower's Adjustable Rate Note to HOME" FEDERAL
<br />SAVINGS" LOAN ASSOCIATION OF GRAND ISLAND, NE8RASKA (the "Lender") of tbe same date (tile "Note")
<br />and covering the property described in the Security Instrument and located at:
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<br />243 South Oak, Grand Island, Nebrask~ 68801
<br />(Property Address)
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<br />TlIe Note toIltalns provlsiolls alhlwllItI for chaDges 10 the lormst rate. It the blterest rate
<br />1_, the BlIrro"....s _tllly paymeIIts will be bIgber. If tile IDlerost rate decreIUes; thi!
<br />Borrower's mootllly paymeotswlli be to...".,
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<br />ADDITIONAL COVENANTS. In addition to the covenant and agreements made in the security InstttImenl, BOrrowerandLCndi:t
<br />further covenant and agree as follows:
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<br />A. INTEREST RATE AND MONTHLY PAYMENT CHANGFS
<br />The Note provides for an initial imerest rate of 13 %, Section 4 of the Nole provides for changes Intheinterestrate'andtlKf.
<br />monthly payments, as follows:
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<br />4. lIVTEREST RATE AND MONTHL Y PA YMENTCHANGES
<br />(A) CJumae Dates
<br />The interest rate I will pay may chllIJgeon the 1st day of . December.. .... ...... 196fr~~ii
<br />on that day of the month every 12 months thenafter, Each de.. ~"'>-,,,:.:h my interes! ',>& conJd ~iscalleda"~~'~'''/?'~
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<br />{B} fieIDda ::....~ . .
<br />Beginning with the flnt Change Date, my interest rate will be based on an "Index," The lndex is the weekly averqeyield o.lUnited~;-"
<br />Treasury securities adjusted to a constant maturity of one years, as made available by the Federal ReserveIloal'A;.Thecll1Olt.,.
<br />recent Index f'llUfC 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 cboose a new index wbich is based upon comparable information; TheNote.~-
<br />will give me notice of its choice,
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<br />(e) CIIIc1JIaIioe of ClwI&es . . . .:.c'-- '0-"
<br />Before each Cbange Date, tbe Not. Holder will calculate my newiDlCl'eSt fale by addini thr~e and. one-hal f~~;> .
<br />{ 3.5 'fo) to the Current Index, and rounding to the nearest 1/8'fo. The sum will be my new interesttaU', Theminimum.in~iat4,
<br />on this loan will be no less than 10.0 'fo, The max.imum interest rate on this loan will be no moretban. lS-.0' ~.:
<br />The Note Holder will then determi~ the amount of the monthly payment that would be suffICient to repay in fill! ..thf:'.~..l~-
<br />expected 10 owe on the Change Date in substantially equal payments by the ma~urity dale at my new interest rale. The _uItof tbi$_~.
<br />will be the new amount of my monthly pay<netll.
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<br />(D) Elfeetive Date of CIIotaati
<br />My new interest rate will become effective on each Change Date, I will pay the amoun~ of my new monthIypaymenl.bqinnina-O!lthe:firU_
<br />monthly payment date after the Change Date until the amount of my monthly paYltlent changes again,
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<br />(E) Nodce of CIwIaa
<br />The Note: Holder will mail or deliver to me a notice before each Ch..r.gc Date. The: notice will ad~ ilK of:
<br />(i} tbe new interest rate on my loan as of the Change Date;
<br />(iI) tile amount of my monthly payment following tile Change Date;
<br />(ill) my additional matiefS whkh the Note Holder is required t" disclose:; and
<br />(iv) the title and telephone number of a person who will answer any question I r:>ay bave reglll'(ijng tile notiCCl.
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<br />B. CHARGES; UE.1\lS
<br />Uniform Covenant 4 of tbe Security Instrument is amended to read as follows:
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<br />... ~; Lltols. Borrower shall pay all taxes, assessments, and other cbarges. fines and impositions attributable to the Property which ma:y
<br />at!ll.\.n a priority over this Security Instrument, and leasehold payments of ground rents, if any, in the manner provided underparll&t8Pb2 hereof
<br />o;'llt"~: ~; :.: ~ ~...~. Cj' eorro~':r ~::; p:l)~l whee d'.le, directly to the ~yee t~f. Borr~ s~! ~y f~.to
<br />leAder all notices of amounts due under Ibis paragraph, and in the event Borrower shall make paymen~ directly, BOrrower shall promptly
<br />fumish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien wbich has priority over this Security
<br />Instrument; however. Borrower shall not be required to discharge any such lien so long as Borrower: (a) sball aaree in writing to the Jl'lYD1CI1t of
<br />the obIiaatian secured b)' sucb lien in a manner acceptable to Lender; (bl sball in good raith contest such lien by, or defend against enf~t
<br />of suclIlien in.. proceedings which In tbe opinion of Lender operate 10 prevent tbe enforcement of the lien or forfeiture of tbe 'Property or
<br />""y part thereof; ill' (c) shall secure from the holder of such lien an agreement in a form satisfactory to Lender subordinating sucb lien tll tltii
<br />Security In.s\rUl1lCllt,
<br />U Lender ~mines that all or any part of the Property is subject to . lien whicb may attain a priority over this Security Instrument, Le/lder
<br />sholl live Bo,lrrow... a notice identifying such lien. Borrower shall satisf) such lien or take one 01 more of the actions set forth above "itbi.D ten
<br />days of tbe &iv,,,, of tbe nOlke,
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<br />C. NOncE
<br />Uniform Coyenantl4 of th. Security Insttument is amended to read.. rollo">:
<br />
<br />14. Notkt. El(:."C:pt for any noti~ required under appl~bte law to be gh.en in anQthcr manner, (a) an;' notkc to .BoHowe-r provided for in this
<br />Se.:Uf<<:Y Instrun\ent shaU be fJv-c:n by ddiverina it or by maitin& it b)' finl da.s\ mdl) tf.,'l Borrower at the Prupc:fi)' Aud~ l,1f at .su,h (Jthcl addr~
<br />4-" DQrrower ma~ ~l!nale 0,. notice to under as provided Man! and (b) any notk't: to Len4c:r $hal! be given by Hat .:IlUS. mail to Lcnder':s
<br />addre:>> S.talC'U herem or t{'- SiKh other addrm as. Lender mal' ~me by notlr:c In Borrower as pco\'ided herem. l\JI)' notitt' rm,nh.1ed for in thiS
<br />~unt! Iustrument shall be de(:ffl:ed tv have been gi't'en to !k~rowef !;Jf J ~ende' when Srl.'en in the maniH.'r ;,:'::~inat;;d hct tin.
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