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<br />84......-.
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<br />00570,!
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<br />ADJUSTABLE RATE LOAN RIDER
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<br />NOTICE, THE SECURITY INSTRUMENT SECURES A NOTE WHICH CON-
<br />TAINS A PROVISION ALLOWING FOR CHANGES IN THE INTEREST
<br />RATE. INCRF..ASES IN THE INTEREST RATE WILL RESULT IN HIGHER
<br />PAYMENTS, DECREASES IN THE INTEREST RATE MAY RESULT IN
<br />LOWER PAYMF..NTS,
<br />
<br />This Rider is made this 22I:!..<L_ day oL_~~__, 19~ and is incorporated into and
<br />shall ~ doomoo to amend and supplement the Mortgage. Deed of Trust, or Deed to Secure Debt (the "SeclLrity
<br />Instrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Note to THE
<br />EQUITABLE BUilDING AND lOAN ASSOCIATiON OF GRAND ISLAND. NEBRASKA (the "Lender") of the
<br />same date (the "Note") and covering the property described in the Security Instrument and located at
<br />210 N. Piper #9, GraIXl IslaIXl. ME 68801
<br />l'7upiETt-y A.ddli:BS
<br />
<br />MODIFICATIONS, In addition to 'he convenants and agreements made ill the Security Instrument. Bor-
<br />rowef and Lender f-~:rther ('cvenant and agree as follows:
<br />A. INTEREST RATE AND MO~'THLY PAYMENT CHANGES:
<br />The Note has an initial interest rate of~_ %. The Note provides for changes in tbe interest rate and the
<br />monthly payment as follows:
<br />
<br />III Rat.. Change Dates and Frequency Tn"",,,!: Begin;.. 'oj 19_-SS--. the rate of interest I must pay may
<br />change in the __....fi.rs.t...___day of the ",,,om (Month After Closing Month). and on
<br />that day every 12 _-'Tlonths thereafter, Each date on which the rate of interest could change isi:alled
<br />a "Rate Change Uate."
<br />(2) The liiG~-.X: Any (Lh&n~s ~ii the rate of intk'1"(::st -.vilI he based on an Index. The- Hlndex" i5XJ tt.eMonthly
<br />Average Yield on United States Treasury securities adjusted to a constant maturity of _ 6 months
<br />lLJ year _. 3 "PMS ___..c; vears as made available bv the Federal Reserve Board, or [J the Nil'
<br />tional M~nthlv Median .Cost of Funds I~nnualized) to FSLlC Insu;ed Savings and Loan Associations, as made
<br />~v~Hable hy ~he Fede~t:! !-h}m~' Lnan Hank Beard. ICheck unly nne bc~.}
<br />
<br />The first Index figure forthis Nute is ~O.3 '~'. I t is called the "Original Index." The most recently available
<br />Index figure as of ~5 days before each Rate change is called the "Current Index,"
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<br />If the Index is no longer "vsilabl", the Note Holder will choose a new index whit'.h is ba~ upon oomp0u'8b1e
<br />information, The Note Holder will /o,'1\'e me notice of this choice,
<br />
<br />~2} C~-!=-tiG;; G! C~~: H~f(';~~ ~~h C!--~'1p.'"C Da:'~. the N~ Hvld~ \i;ill rl~......-uiuv any ctMUlgv in my:
<br />rate of interest.. The Note Holder will cakuJate my new interest rate by adding ~tappointll_
<br />t---L_ %! to the Current Index and rounding tll'~ result to the nearest one-eighth of one percentap poiDt
<br />10.125%), This rounded amount will be the new rate of interest I am required to pay,
<br />
<br />The maximum inteft'St rate I will be r-equired to pay on this loan will be no more than ~ %. The
<br />minimum inte....'st rate I will he required to pay on Ihis loan will be nO lells than_JJ./A...%.
<br />
<br />'l'he Note Hold.... will then detemline the new amount of my monthly payment which wouJd be suffkieat to
<br />repay the outstanding prmt'ipal balance in full on the maturity date at my new rate of interest in~
<br />equal payments. The result of this t<liculation is called the "Full Pa)'ment" and will be the new amount ofmy
<br />monthly payment.
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<br />PROVISION .\(41 applicable only if this box is checked.
<br />
<br />(oil Umit on Interest Rat.. locr_: The rate of interest I am required to pay shall never be increased or
<br />decn>aseG on ,my single Rate Change Oat.. b,' more than ,~, from the rate of interest I hlne been paying.
<br />
<br />(51 Effective Date of Changes: The new rale of interest will become effective on each Rate Cbanp Date; I
<br />wiii pay the new amoullt of my monthly payment eacn month beginning on the first monthly payment date
<br />aft~ the Rate Change Date until the amount of my monthly payment is again changed. or I have fully repaid
<br />the loan.
<br />
<br />t6I Notice of Changes: The Note Holder will mail or deliver to me a notice of Ilny changes before each Rate
<br />Change Date, Tbe Notice will adVise me of the new interest rate on my loan, the amount of my new monthly
<br />payment$:. and any additiomd mattR-fB whi(~h U-J€ Note lfolder i8 required to disclose.
<br />
<br />J~....iwu~1tW: AI?I ,!,{f,h AIU~ ...n..! A11(n an.......I;:,."'h.l.u ,,"ntH ;f ....~~, ~H'" :... .~L.__l~.~...l
<br />~ ., ~ ~ -~-~~~... .~.." '~~H" 0 ..". h ""...... . ~. "'.., ~~y...u"-__~~...., '-"'~~J u' ~ .U~~ ,,"'*.... ...;11 \.--.U~.n.C\JI.
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<br />(7~ ~~.~ R~ht, T~ lJ:~J! M~h!y P!!y!~t: Un!ee~ ~:'tH:m~ .-,\!9,l ftnd ,"'\00) ~cw will n;:}t~t ~
<br />to do ~~ I may choose to iilnll tiw anlount of tny new fT)(lnt r-Jy r~ynwnt foHQwi!!:! a Rate Cha~ Da~ to the
<br />amount i have i_n payml! multiplie<! by thO' number l,l17[>. This amount is tailed t.he "Limited f'llynwnt," If
<br />I dM)OlK' a Limite<! Pnnit'nt a~ my monthly payment, I must".;,... the NolO! lIolclt>r tlotil~ that I am doing 80
<br />,,-t INs!. I a days before my fir,l ""w monthly llliymtmt is due,
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