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200500037 ADJUSTABLE RATE NOTE (LIBOR One -Year Index (As Published in The Wall Street Journal) - Rate Caps) THIS NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN MY INTEREST RATE AND MY MONTHLY PAYMENT. THIS NOTE LIMITS THE AMOUNT MY INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE I MUST PAY. Date: December 30, 2004 City of: GRAND ISLAND State of. NE Property Address: 2215 N SYCAMORE ST, GRAND ISLAND, NE, 68801 1. BORROWER'S PROMISE TO PAY In return for a loan that I have received, I promise to pay U.S. $ 85,600.00 (this amount is called "Principal "), plus interest, to the order of the Lender. The Lender is U.S. BANK NATIONAL ASSOCIATION ND I will make all payments under this Note in the form of cash, check or money order. I understand that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and who is entitled to receive payments under this Note is called the "Note Holder." 2• INTEREST Interest will be charged on unpaid principal until the full amount of Principal has been paid. I will pay interest at a yearly rate of 6.000 %. The interest rate I will pay will change in accordance with Section 4 of this Note. The interest rate required by this Section 2 and Section 4 of this Note is the rate I will pay both before and after any default described in Section 7(13) of this Note. 3. PAYMENTS (A) Time and Place of Payments I will pay principal and interest by making a payment every month. I will make my monthly payment on the 1st day of each month beginning on February 1, 2005 . I will make these payments every month until I have paid all of the principal and interest and any other charges described below that I may owe under this Note. Each monthly payment will be applied as of its scheduled due date and will be applied to interest before Principal. If, on January 1, 2035 I still owe amounts under this Note, I will pay those amounts in full on that date, which is called the "Maturity Date. I will make my monthly payments at 4325 -17TH AVENUE SW, FARGO, ND 58103 or at a different place if required by the Note Holder. (B) Amount of My Initial Monthly Payments Each of my initial monthly payments will be in the amount of U.S. $ 513.22 This amount may change. MULTISTATE ADJUSTABLE RATE NOTE - WSJ One -Year LIBOR - Single Family - 6/01 (page 1 oj5 pages) Based on Fannie Mae UNIFORM INSTRUMENT Form 3526 US35261'1