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<br /> ___�Xp�..� FHA MULTISTATE AD�USTABLE RATE RIDER
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<br /> ---. day of
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<br /> -- _----- -z,- - , THIS ADIUSTAHL.B RATE RIDER ia mode�hix 27t h
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<br /> Apr 11. 1992 und ix incorporutcd into and ehnll be deemed to amend and supp ement F
<br /> � !hc Mangogc, Dced of 'Ih��t ar Secu�ity [kcd ("Security Inxtrumcnt') of' the seme datc given by tho undcraigned
<br /> ,��� si• ("Borrawer")to Recure Botrowcrk Notc("Note")to
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<br /> �°''���;•-' COLUMBUS FEDERAL SAV I NG'a BANK
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<br />_�_ �A,F`�=-- -° (tixs "l.eiuler"1 of the icamc date and covcring thc property de4cribc�i in the Securiry Instrument a�d loca�ed at: -
<br /> �a�h,.� . "O�-� :
<br /> ". � �""' u 808 NORTH BROAQWEIL AVENUE '
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<br /> �• GRANQ ISLAND� NE 69803 --
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<br /> � .:�•'.s.�.�-�. ' THE NQTE CONTAINS PROVISIONS ALLOWING FOR CHANGE5 IN TNE
<br /> �i+.��n�1U;�'#' INTEREST RATE ANp THE MONTHL.Y PAYMENT. THE NOTB LIMITS THE
<br /> "`�'�''�"'�' '; � AMOUNT THE BORROWER'S INTEREST RATF.CAN CHANGE AT ANY ON�T1ME
<br /> ._�• ; t" „�
<br /> � AND THR MAXIMUM RATE THE BORROWER MUST PAY.
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<br /> -'�;��� ^ ' ADDITIONAL. COVENANTS. In uddition to �he covenan�s and agreemenls made in Ihe Security Inatrument,�
<br />;°� . , Borrowor and LenJ�r furthcr covenanl and ugroc ux Pollows:
<br /> �•_:� � _—
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<br />�''� ���. INTER1sST RATE ANp MQNTHLY PAYM�NT CHANGE.S
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<br /> Vi�^y� :'."•h � (Al Chpnge DAte ��
<br />., ;�� • , The intercst rute mny chunge an tlw tir�:t ds�y c�fJu l y 1 . 1993 .end thnt dey of euch.rucceeding year. _
<br />��..��t��� '_� ' "Change Date"mcans cacb dute on which the intare+t rate could chbnge. _,_
<br /> ''� � (B) The lndex
<br />%'�,• "``.. . Beginning with thc first Chongc Datc, thc intcrc.t ratc will bc bu�:ed on un index. "Index"meuns thc wcekly averuge ___
<br />,�:;;4;t yield on UnUcd Sluter;'Ite:�.cuq�5ecuritics udjusted tu u c�>n.�ont mawrit�� of onc ycur, us made uvuilablc by ihe Federal ""
<br /> '� � Re.�crvc Bourd. "Curtcnt Index"mcanw 1he nxnt reccnt Indrx figure avuilable�U duy.t+rfore the Chungc Dalc. If the Index ��>
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<br />'_��• '� (as defincd nbove)is no longer uvAilable,Lendcr will uK as a ncw Index uny index pmscnbed by the Secre�ary. As uscd in
<br /> �"`"� ���"� • �hi� Rider, "Sccretury"mc�mrc thc Secrctury of Hou.ing and Urban Developmem ur his ar her designee. Lenckr will give
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<br /> ;t "�+`� " � • Borrowernotica M�h�new Indcx.
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<br />'`-�° � ����r •• • IC) Calculatbn oP Interest Rale ChanRes � �
<br /> - •'�`''�':.,n � Befure each Chungo Dale,Leixier wfll culculate u new inlcrcst rutc by udding u murgin of �'�;�
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<br /> �..i �`� 1.'.iis�;.,,-..:-�� .�:'�� Two perceMage �^`
<br />:i�:';:;� � " •. � poinls(� p Q ryo) to Ihc curtent InJex and roundin�t thc sum to �hr nrarrsi onc-cighth of one perrentuge point
<br /> .:^;�,,; � ''��.;. (0.125°!�)�5u6�ct lo the limits titu�eJ in Wrugraph(U)nf this Ridcr.�hi�n►undcd umaun�will be the nrw intcre.r•t rate until =__
<br />"' �,r.; • ' thu next Chungc Duic.
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<br /> IDl Limi�g on Interect Rate C'han�ey
<br /> - 1 � Thc bn�rc.r•t rut�will nrvcr incrca.r or dccrc;�xc by murc�han anr�xrrrnt+i�c point l LO'i 1 cm any singlc Changc Datc, `
<br /> ' 7'hc int�trcxt ratc will nevcn c�murc than ti��c percentn�zu p��int.l5,(►�/��hi�!hcr or luwrr thun Ihc ini�iul intcrcx�rutc.
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<br /> ' ' IF.1 Cakulalian nf 1'ayment ChanRc �'•"'
<br /> j It'Ilx� imurest rutc chnn�tc+o�a Chan�c U�uc. Lendrr «iU ralculutc thr •rm��wit i�l'munthly paymcnt nf principul and �y
<br /> . . inlcrext which wuuld hc nccc+sary to rrpny ihc unpaid principal haluncc in full at Ihr mu�urity datc ut Ihc ncw intcrc.t r�te �`
<br /> ' ` through sub�tamially cyuul puymem., Ui muhinE�uch calcula�inn. Lcndcr will u�c thr unpaid prinripul 6ulancc whirh wiiuld �
<br /> ,:�.;._�,'_..�;.--- be owed on thc Chunga vute it'ihrre hud txrcn nu ikl'uuli in paymrnl un ihr Nute.rrJurcd hy Ihc amuunl uf any prrpaymenlx '�,:
<br />- -�- . �o principul. Thc rr.rul�ol'this culcul:ui�m will Ix ihr amuum uf�hc ncw monthly p•rymriu o� pnncipa�unct imcres�. �
<br /> , . IFI Notice of Chunaes E
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<br /> � Lcndcr will gi�•c nuticc to Burrowcr ul';my rhangc in Ihc intrrc�t ralr anJ manlhly puymcnl umuunt. Thr nolicc must ,
<br /> ' , . lx given ut Ira+t ?S duys Ikfurc Ihr nrw manthly paymcnt amounl �,Jur. and mu,l ,ct li�nh 1i1 thc dutr u(thc noticc,
<br /> • lii) th� Chungr Datc.liii► the uld intcrr,� raic. livl thc nrw inlrrr�t r;itr. 1�•1 Ihr nrw� mi+nlhly paymcn� :mu+um. ��il Ihr
<br /> Cumn� Indrz anJ�hc datr it wu. puhli.hrd.lvii►�hr mrlh�xl ut'r;drula�in� �hr rhun�r in nwnlhly puymrnt umuunt.und �
<br /> .. Ivi�il uny othcr inl'urniatiun which m•ry Ix rrywrrJ by Inw t'rum iimr tu iimc. �
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