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v 84,"--4)00223 ADJUSTABLE RATE RIDiER THIS ADJUSTABLE RATE RIDER is trade this day of Ty 19~L and is incorporated ii: :,z) and shall be deemed to amend and supplamemt 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 HOMc FEDERAL. SAVINGS 3. LOAN ASSOCIATION OF GRAND ISLAND, NEBRASKA (the "Lender") of the sarne date (the "Note") and covering the property described in the Security Instrument and located at: 822 3. GurZbarrs l Road Grand Islanri NE 68801 (Property Address) The Note contsins provisions allowing for changes in the interest rate. If the Interest rate increases, the Borrower's monthly payments will be higher. If the later": rate decreases, the Borrower's monthly payments will be lower. ADDITIONAL COVENANTS. In addition to the covenant and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. MTMEST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of Section 4 of the Note provides for changes in the interest rate and the monthly payments, as follows: 4. !NTE'R ESTRATI A VD kf0,'VTNL Y PA k'h1ENT CIfANGES (A) Change Dates The interest rate I «ill pay :nay chant on the ) 5t day of 1= ehruar , l9 A-5-, and on that day of the month every 1 months thereafter. Each date on which my interest rate could change is called a "Change Date." (B) The Index Beginning with the first Change Date, my interest rate will be based on an "Index." The Index is the weekly average yield on United States Treasury securities adjusted to a constant maturity of Qf1E years. as made availabl,b by the Federal. Reserve Board. The most recent Index figure available as of 45 days befog c each Change Date is called the "Current index. If the Index is no longer available, the Note Hold,,-,r will choose a new index which is based upon comparable information. The Note Holder will give me notice of its choice. (f7 Calculation of Changes Before each Change Date, the Note Holder will calculate my new interest rate by adding twQ_ and on►? .half percentage point: 2- -'/o) to the Current Index, and rounding to the nearest 1 /Sen. The sum will be my new interest rate. The minimum interest rate on this loan will be no less than The maximum interest rate on this loan will be no more than 14-5- - N•- The Ncte Holder will then determine the amount of the monthly payment that would be sufficient to repay in full the principal i am expected to owe on the Change Date in substantially equal payments by the maturity date at my new interest rate. The result of this calculation will be the new amount of my monthly payment. (D) Efrectlye Date of Changes My new interest rate will becoms effective on each Change Date. I will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again. ~(E) Notice of Changes The Note Holder will mail or deliver to me a notice before catch Change Date. The notice will advise me of: (i) the new interest rate on my loan as of the Change Date; (ii) the amount of my monthly payment following the Change Date; (iii) any additional matters which the Note Holder is required to disclose; and (iv) the title and telephone number of a person who will answer any question I may have regarding the notice. B. CHARGES; LIENS Uniform venant 4 of the Security instrument is amended to read as follows: 4, Charge Liens. Borrower shall pay all taxes, assessments, and other charges, fines and impositions attributable to the Property which may attain a priority over this Security instrument, and leasehold payments of ground rents, if any, in the manner provided under paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due tinder this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over this Security 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 the obligation secured by such lien in a manner acceptable to Leader: (b) shall in good faith contest such lien by. or defend against enforcement of such lien in, legal proceedings which in the opinion of Lender operate to prevent the enforcement of the lien or forfeiture of the Property or 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 Security Instrument. If 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 shall give Borrower a notice identifying such lien, Borrower shall satisfy such lien or take one or more of the actions set forth above within ten days of the giving of the notice. C. Nonce: Uniform Covenant 14 of the Security Instrument is amended to read as follows: 14. Notice. Fxcept for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in this St+curity ln~ t rumens shall be given by delivering it or by m&iIing it by first class mail to Borrower at the Property Address or at such other address 7a SOrro::eT muy designate by rK, icc to Lender at provided herein, and (b) any notice to Lendez shall be given by first class mail to Lender's address ;rated hctein or to such other address as Lender may designate by notice to Borrower as rruvided herein. Any notice provided frn• In this Srw:uri►y lmtrumeW shall be deemed tr have been given to Borrower or Lender when given in the manner d^signated herein. 7' •n