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'This F~djustable Rate Ride; is oiuen to r-aplace the 1ldjustahle Rate Rider to Deed of Trust dated i1-28-81, recorded as Document #$1-006Q75 on December 10, 1481 i~ the Register of Deeds office, Hall County, Nebraska. ADJUSTABLE RATE RIDER ~~.~. ~i ~ j ~ 6 9 2 (DEFERRED PAYMENT PROVISIONS} THIS ADJUSTABLE RATE RIDER is made this K? ,% day of j=? i ~ ,~.: '' , ~`~y~!"~ ,and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt (the "Security Instrument") of the same date given by the undersigned (the "Borrower"} to secure Borrower's Adjustable Rate Note to Commercial Federal Savings and Loan Association (the "Lender") of the same date (the "Nate") and covering the property described in the Security Tastrument and located at: 24113 kt Louise, brand Island, Nebraska fi88D1 (Property Address) The Note Contains Provisions Allowing for Changes in the Interest Rate and. the Honthly Payment and for Increases in the Principal Amount to be Repaid. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in thr Security Instrument, Borrower and Lender further covenant and agree as fellows: A. INTEREST RATE AND MONTHLY PAYMENT CHA,YGES The Note provides for an Initial Rate of Interest of 14.0006• Section 4 of the Note provides for changes in the interest rate and the monthly payments as follows< "(A) Change Dates Beginning in 182 the rate of interest I will pay may change on the 1st day of the month of June and on that day every 6th month thereafter. Each date on which the rate of interest could change is called a "Change Date." The amount of my monthly payments will also change on every 5th Change Date. This Change Date is also called the "Payment Change Date." My monthly payments may also sometimes change at other times under Section 4 (F} of this Note. (B) The Index Any changes in the rate of interest will be based on changes in the Index. The "Index" is the "Contract Interest Rate., Purchase of Previously Occupied Homes, National Average for all Major Types of Lenders" as made available by the Federal Home Loan Bank Board. If the Index is no longer available, the Note Holder will choose a new index which is based upon comparable information. The Note Holder will give me notice of this choice. The first Index figure for this Note is 15.380 %• It is called the "Original Index." The most recently available Index figure as o£ the date 45 days before each Payment Change Date and on the date of every other Change Date is called the "Current Index." (C) Calculation of Changes For each. Change. Date:, the Note Holder will determine any change in my rate of interest. The Note Holder will calculate the amount of the difference, if any.,., between the Current Index and the Original Index. If the Current Index is higher than: the Original Index., the Note Holder will adz. the difference to the Initial Rate of Interest.. If the Current Index is lower than the Original Index, the-Note Haider will subtract the difference from the Initial Rate of Interest. The Note Holder will then round the result of this addition ar subtraction to the nearest one-eighth of one percentage point (0.125%)• This rounded amount will be the new rate of interest I am required to pay. Before each Payment Change Date, the Note Holder will determine the new amount of :my monthly payment. that would be sufficient. to repay the outstanding principal balance is full. on. the maturity date. of my neW rate of interest in substantially. equal payments. The result of this calculation is called the "Full ` Payment Amount," and it will be the new amount of my monthly payment:,:nless I choose the amount permitted by Section 4 (D) below. ~'~ (D) Borrower's Right to Defer Payment of Certain Amounts Unless. Sections 4 (F) and 4 (U) below will not permit me to do so, before any Payment Change Date I may choose to have my new monthly payment amount ~° limiud to the amount I have barn paying multiplied by the number 1.1815. This ~ amount ~ called the 10Limited Payment Amount." I will give the Nate Holder _`-~ notice trine I have c3tostn the Limited xaymen.t Acnouat at least ____I5 days before a.ny Payment Change Darr.. ~~.-<'89 i p. 1