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<br />ADJUSTABLE RATE RIDER TO DEER OF TRI.)ST <br />This Rider is matte th;a t3th day of Nov~lber 1981 and is incorporated <br />intG and shaft be deemed- to arr+end and supplement the Geed ot- Trust of the same date given by the <br />undersigned (the "Borrower°) to secure Borrower's nose to Commewiai Federal Savings and loan Association <br />of Omaha, Nebraska (the "Lender") of the same tlaie (che "Note") and covering the property described in the <br />Deed of Trust and located ai <br />2508 W.N. Front Grand Island, Nebraska 68A01 <br />Modi£cations. fn addition to the covenants and agreements made in the Deed of Trust, Borrower and Lander <br />further canvenant and agree as follows: <br />t. interest Rate and Monihiy Payment Changes. The Note has an initial interest rate of 20.000 $. The <br />note interest rate mad bm increased or decreased on each Change Date, as described in tae Note. <br />Changes in the interest rate are governed by the changes in the weighted average yield at which the <br />Federsi Wane Loan tAOrtgaga Corporation committed to purchase conventional mortgage notes with a fixed <br />rate of interest for the shortest available delivery plus 3i 8$. <br />The monthly payment amounts wilt else change on Payment Change Dates as provided in the Note. <br />Because payment changes may occur less often than interest rate changes and{or may be subject to <br />certain limitations descrittad in the Nots, the monthly payments may a[ times not ba sufficient to pay <br />accruing interest. In such cane, unpaid interest is added 20 the principal balance of the Note and itself <br />accrues intereai thereafter. <br />~, IC could ba that this loan is subject to a law which sets maximum loan charges and that law is <br />interprctad 50 Chat the inCerlSL Or Other loan Charges COfIlCLed or Co btl COIIlCLed in GOMlCLIan with this <br />loan would exceed permitted limits. If this is the case, than: (A) any such roan charge shall be <br />reduced by the amount necessary to reduce the charge to the permitted limit; antl (B) any sums already <br />WflecLetl from Borrower which exceeded permitted limits will be refunded to Borrower. The Not! Holdv <br />_ rhe,~x,u rn nu4w this refung by reducing the nrincipal @grrewer bwea under the Note or by makind a <br />;Sired payment to Borrower. If a refuntl reduces principal, the reduction will be treated a3 a partial <br />prepaYmant. <br />~. Tres: sfar of Property; Assumption. Lender shall waive its option to acceierace under paragraph t7 <br />hereof it (t) prior Lo such safe ar transfer Borrower notifies lender of the proposed transaction antl <br />saes that Lender is given any information it may requeaI in order to evaluate the person to whom the <br />property is being said or tray+sferred, t2) tender determines, in its sole discretion, that assumption of <br />the loan by the propoutl purchaser or transferee wilt mNt standards of Creditworthiness and security <br />which ors aceeptabde to it, which sxa~ntlards shall, insofar as may b• practical, b• the same underwriting <br />standards as ere Then applied by lender in connection with making =new loan, (3) the person to whom <br />the property is to be sold or transferred executes a written assumption agreement accepted in writing by <br />Lender and agresa to pay Lender`s narmai conventional loan assumption tee, and (3) na other defaults <br />exist under the Mortgage or Note secured hereby. <br />3. By Signing this, Borrower egress to all of me above. <br />OAt~_ Npv+~lzer 13, 1481 <br />t_ ;< ~._. <br />. t8 ~ __ ~ u = d Si ..' ar ~sr ~ <br />er, _wB - er <br />31~ak, i. ~f3lAttfe <br />M-237 {R~vv{Bt) <br /> <br /> <br />fi <br />t..._.. <br />