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<br /> FHA MULTISTATE ADJUSTABLE RATE RIDER
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<br /> THIS ADJUSTABLH RA'�'6 RIDER ir made thic 30t h �y°f
<br />— Ju 1 . 1992 und is incorporated into and shall be dcemed to amend and suppkment
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<br /> Ihe ort�age. Decd of 7tust or Secu�iry Ueed C'Secwicy I�unument'7 oti �ho �wmo Jwe �iven by the uadac��d
<br /> ("Bormwer")W cecuro 8ortower*�N�te("Note")to
<br /> COLlR48US FEOERl4l SAVINGS BANK
<br />_ i _ -- F—� (Ihe•L.ader")of the carne dAte wid.caverina tt�o property desctibed in the Security I�uument ond located�t:
<br /> 4256 NANCHESTER �
<br /> GRAND 1SLAN0. NE 68803
<br /> �Propeny Mwr+cu►
<br />- ---- THE NOTE CONTAINS PROVISIONS ALLOWING FOR (:HANaES IN Tt1E
<br /> INTEREST RATE AND TNE MONTHLY PAYM�NT. TNE NOTE LlMITS THE
<br /> - AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE T1ME
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<br /> AND THE MAXIMUM RATE THE BORROWER MUST PAY.
<br /> ApD17'IONAL COVENANTS. In addition to the covenants and ugnecmenis matb in Ihe Security Instrunlent,
<br />_-� 9-�,�� - Y 8orrower and l.ender furiher covenant ond ugree os follows:
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<br /> — �,L INTERFST RATE AND MONTHLY PAYMEN'P CHAN[iES
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<br /> �,_ . . ��� ''� (A) CfwngeDate
<br /> — The inter�t rsne may change on the f int duy of Oct obet' i. 1993 .und tlwt day of each succeedin�ytar.
<br /> A
<br /> �`-'`"�`�''`' � "Ch�tge Date"mesina each date on which the interest rate couid change.
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<br /> _ (B) Thelndex
<br /> _ Beginning with the first Chungc Date,the interest rntc will be bused on an Index. "Index"meAns U�e weekly avcrage
<br /> �,�.�^^�.-�� yield on United Sw�es �iCU�wy Securitie.r ad,(ustcd ta a wnstant maturity of one yesr,as made available by the Federal
<br /> �� Reserve Bounl. "Cutrent Index"meuns thc most recent Index fisure uvnilable 30 daya be(om the Change Dstte. !f the lndex
<br /> _>__ ~"�wf'es' (as defined ubove)is no longer nvailable,I.endcr will use us u new Index uny index prescribed by the Secretary. As used in
<br /> — w this Rider,"Sec�+etnry" means the Secretary of Housing�u►d Ur6an Development or his or her decignee. L.ender will give
<br /> _� ,�,4,�� �-,;,� Bormwer notice of the new Index.
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<br /> ,,,�-•�:`�'_�.; IC) Ca1cul�tion of Interesl Rate ChanRes
<br /> ` '-=,:�•;.;i" Befae each Change Date,Lender will ca�lculute u new interest rnte by adding amargin of
<br /> — _ ,
<br />-� ~:";��p, Two percentage
<br /> :�.: poims( p,pppp �'�) to the current Index und rounding thc smn to the ncarcst cxie-eighih uf one percentage point
<br />_` �•.. •w (0.123°h). Subject to the limi�s s�ated in Porugraph(D)of this Ridcr,this rounded umauni will bc�he new interest rate undl
<br />_�' ,. � . �'.��•� the next Chcinge Datc.
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<br /> ;.�,,.� ' (D) Limits on Interest Rate Chan�es
<br /> ��'� �� . . . Thc interest ratc will ncver incrcase or derreu+c By mare Ihan onc pc�ccntugc point 1 I.U�'r 1 on uny sin�le Changc Date.
<br /> � � The intercst rate will nevcr be more than tivc percen�ugc points(SA°I�)hiFhcr or lower ihun the initiul intemst rate.
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<br /> �""`••"'"'°`= '� IE) Calculation of PAyment ClianRe
<br /> '�' �- � If the interc�t rute changes on a Change Dutr.Lcnder will calculu�c the umuunt of monthly payment af principal und
<br /> � �• interest which would be necessury lo n�puy Ihc unpaid princip•rl halanee in full at Ihe rnaturily dne at the new interest rute
<br /> � • , through substuntially�yuul puyments. In mokinE such ralculali��n,LrnJcr will u,e ihe unpuid principal balnnce whirh would
<br /> be owed on thc Chun�c vate if theR had bcen nci dcfuuU in payment on thr Note,r�duced by Ihe umount of•rny prcpaymenls
<br /> _ — m�� to principal. The re�ul�of thi�calculu�ian will tx thc umuun�of thc new monthly puymenl of principal and interest.
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<br /> � 1�') NotkeoPChanges
<br /> � u' Lcnder will give nnticc�o Borcowcr uf:my rhangc in ihr imcrrst ratc und nwnthly puyment amount. Thr noticr must
<br /> ` he given ut Icast 25 day� Ixfore�hr new monihly paymcnt nrnnunt is due, und mutit +ct forth (i) Ihe date uf Ihe nnticr.,
<br /> � ' °��"�•�� (ii)the ChanFc Datc. (iiil thc old interc,t ratc.livl thc ncw irncrc�t ratr, (v1 ihr new monthl a mrnt amoun4 ivi) the
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<br /> -_ '�-°+•���,'-° - - -- f prmnf Inrl��r :�n�1 Ihr�1mr il w�i��+uhli.hcd. Ivii►thc mrlh��d of ralrulatinc �hc rhancc in mcmthlv p•rvment umuunt.atld
<br /> cJ.: I�iiil any other informatiun which muy bc«�ywrcJ by low t'rnm cimc ta limc.
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