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4 SIR ~vM n ~~5 g ~$4rk^ µ.l ytl~w _ ~ ~ ~ 0900063-7 $4 ' 0U2 53 AD,IUSTABLB PA7CNElf! V 2115 naAErAME RAMS RII M is made ttd3 17th ' day of January, 1984 cad is incorporated into and shall be deewd to aoaerrl mod"au~Taent Mntpp, Dead Of , o_r1ftd to Secure Debt (the 5eaTity trtanint") of the sm date given by the umdergLgoad (the "Batzwer") to secur+P Bor nmer's Adjustable : Payment Note to lower. Pira ndal, , IVC. (the r "header") of the same date (the. -Note") and eaverivig the property described in the Sewrity Ir =umnt wd located at: 68801 (Property Address) The Note Contains Provisions Allowing For Changes In The Intereat Rate And The Monthly Payment And.For Increases In The Principal Amount To Be Repaid. The Note Also. Provides For Calculations Of Two Separate Monthly Payment Amounts. One Will Be The Amount That I Must Actually Pay Each Month. The Other Will Be An Amount That I Would Pay Each Month To Fully Repay The Loan On The Maturity Date. This Beans That I Could Repay More Than I Originally Borroved Or That I Could Repay M; Loan Before The Maturity Date. ACOrrIANAL C70VE K*,M. in addition w t e o7am add agreements mode in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of 10.500 X. Sections 2, 3, 4, 5 and 6 of the Mote provide for chwSes in the interest rate and the mo~Ti y payments, as follows: -2. INTEREST (A) Interest Owed Interest will be charged on that part of principal which has not been paid, beginning an the date I receive principal and continuing until the full amount of principal has been paid. BeginzdIng on the date I receive principal, I will pay interest at a yearly rate of 10.500 X. The interest rate I %&U pay may chmp on the first day of the month of August 1, 1984~ and on that day every 6th mouth thereafter. Each date on 4d&. the Berest E s called oa "Interest CQji"Date." The new imoereBt rate will beeMe effective an each Interest Charge Date. (B) Me Index Beginning with the first Interest (hoagie Date, at► interest rate AdU be based on an Index. The "Index is the Weekl Auction Ave Rate on United States Treasury bills with a maturity of 6 amths , as most recent tig=e as of ffe to 65-'days before each Interest mange Date is ailed the -Current wee. interest rate I will pay shall not eaaeed 13.990%. If the Index is no looser available, the Note Holder will ctxxte a new index which is based upon compwvble inforaetion. The Note Holder will give ma notice of this choice. (C) Ca1Lulaticn of Interest Rate Changes Before each Interest ChxW Date, the None inkier will, mite my new interest rate by adding percentage points ( 0 to the Current Iandm. The Note Holder will thmi rDt= C ore-eighth of one percentage point (0.125X). This iowxied the 7ffit of this addition to acaaxit will be my new interest rate until the next Interest Change Date. gyp= the maxia> n interest rate shall Cot exceed 13.990x. (D) Interest After Dafault Tte inbmst rate required by this Section 2 is the rate I will awe butt, before and after any default described in Section 9(B) below. 3. CALCULATION OF AMOUNTS OWED EACH MONTH The Note Holier wall calculate my PaU Monthly Amer nt. The "Full Monthly Amount" in the amount of the monthly pw.ment that would be a9ficiedt to rep.-y the tx¢7aid principal balance of my loan in full at the interest raft I an required to pal by Sections 2(A) and 2(C) above in substantial-17 equal Pam an ~ try 2014 which is called the "maturity date". My first FuU Moothly Aaount~ L`• .4 . Before each Interest Oange Date, the Note Holder will calc1lat the now Full ffim_y Amount which I will, owe each month beginning on the first monthly payment date after the Interest Change Date. 'The Full Ma thly Arrant I owe may bE more or less than the ancucnt I an recurred to pay each month. Section 4 below states the amount of-cry monthly pa)ment and how it will change. Section 5 below describes how my unpaid principal balance will change if the amount of my monthly payment and the Pull Monthly Amount are different. 4. PAYMENT'S (A) Time and Place of Payments I will pay ptindpnl and interest by making payments every math. I will make cry monthly payments an the first day of each car,th beginning an March 1 1984 I wdll mate these pay=ms every month until I have paid all the any o[hs chazg2s desmlbed. below that I may owe under this Note. My monthly payments well be applied to Interest before principal.. If I still awe annunts order this Note on the maturity date, I will pay those amounts in full on that date. Thom anxzzs could be greater than the amount of my last man►hly payawt befornne the mturity date. I will make my m uthly papa at 211 South 72ni Street, Ouch, Nebeasks 68124 or at a afferent plaac If required by the None Helder. ADJ'USTABLF PAYMENT NOTE 6 MONTH TREASURY INDEX (1 - 4 Family) IMC-005 (qc) (Page 1) (New 11183)