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<br /> . ADJUSTABLE �tATE �tYDER � � ""
<br /> _ (1 Year'I'reasury Index-ltate Caps) 2 a02 7 840 _ =-— , = .��°
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<br /> THIS ADJUSTABLE RATE RIDER is madethis 10TH dsy of JANUARY . �' '��• ~°-� -_
<br /> k • 1997 ,and is incorporated into and shall be deemed to amend and supplement the Mortgage,Deod of -=r-�-�-� :� "�•
<br /> .- Tcvst or Securit}Deed(the "Security Instrument')of tre same datc given by[he undersigned(the"Borrower")co _ _ � . , `,_� . : .
<br /> • secure the Borrower's Adjustable Rate Note(the"Note')to � 5��1°�`�
<br /> Tha Equitable Built��g and Loan Associat�on of 6rand Isiand, µehraska, A Federal Savings Bertk F; � � :
<br /> - (the"I,ender")of the ssurie date and mvering the propert}•described in�he Securiiy Instnuneni and lorated ar. _ .. .. ._ . � . , _.
<br />. ., : _...��_d�. .
<br /> 417 Yi 16 � 1412 N LOCUST G:tAPl�J ISLANp, MEBRASKA 68801 � � """""`•'�-
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<br /> THE NOTE CODITA1R1S PROVISIO�1& LOLl.QWING FOR CHA�3ES tN THE IN'TEREST ='�`-�`
<br /> � .= RATE AND TtiE MONTHLY PAYh1�fT. THE NOTE UM;� YHE AMOUNY THE ...,,w�,�,:�`-y���__,-�,
<br /> -. BORR0INER'S INT�EST RATE CAN CHANC,E AT ANY ONE '�IN3E AND THE :;.;,,g,,,��,�,_. ._
<br /> MAXIMUM RAYE'fHE l���ROWER h7UST PAY. _- ___ - �"_�� --
<br /> •��� - --
<br /> '••% ADDIITONAI.COVENANTS.In addirion to the wvenants and agreetnznrs made ia the Sacurity Insuument. "�.�"-;�;���
<br /> Borrower and L.ender further coven�at and agree as follows: 'r'�'.- ___
<br /> "���`°�: ..''' '. -:
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<br /> :;� A.INTt�.REST RATE AND M��'�.Y PAY1V�Nf CBANQa�S _ • " -
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<br /> The Note rovides far��.Z initial interest rate of 7.250 �''o.The PIote provides for changes in �, '''. ,- .�},,..,',�+e_.._
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<br /> the interest rate an�'�e�onthly paymenu,as fa!!oR s: '' -
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<br /> � 4.IIVTEREST RATE AND M�:\'�T�4.Y P�LY«�'T CHA�\GFS ` ,
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<br />' � �'' (A)Change Da*_�s : .. , ... ..... ....:
<br />• • The interest rate I will pay may change on the 8rst day of FEBRUARY 1998 ,�����t "`''E%...'`�`�"�`;� •:�.�'' •�• +�r
<br /> ' day every 12th month thereafcer. Each date on which my interest rate could change is ealled a"Change Da..." � c;`.- '���r�-:�"•����":I���'
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<br /> ' (��The Index g�-�eF�,'r`'7i�"+', =_
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<br /> Beginning with the first Change Date,my interest rste wilj be based ca z.z Index.The Index �s d�.°weekty �,s•. . ,_� .. � `��<�
<br /> average yield on[Jnited Siates Treasury securities adjusted to a cosistant�r�.."ity of 1 year. as made av 'a_u:a�ie by �`j
<br /> the Federal Reserve Board.T he most recent In dex f igure avai�.r'c:e as o f t b e c 1 a.;4 5 d a y s b e f o r e e a c h C h.��g v D a t e ';• t^'�� �H:
<br /> . .���%f is called the"Curnent Index." �. �. ..
<br />, If the Index is no longer available,the Note Holder will choose a new index wluch is based upon c4mparable � �� •
<br /> . . information.The Note Holder will give me notice of this choice. :�"``•"'
<br /> . (C�Calculallon of Changes ° ,,..:-'-,
<br /> Ecfa;e each Change Date,the Note Ho1deT will c�lculate my new interest rate by adding '����':` ;_,:�_
<br /> cl
<br /> 3l�v PJVD ONE HALF percentage point(s)( 2.500 %)N the�rrent �•�' `,Y�.'�'_�':
<br /> � Index. The Note 1'_•�!der wiU then round the result of this addirion to the nearest one-eighth of one perceutage . :,r.��;�` �-�"
<br /> . point(0.125%). Su.E;��,si io the limiu stated in Section 4{D)below.this ro•�•�W�amount will be my new in�erest 2;�.-:: .:.: :_-�:.� -
<br /> . , tate urr�the next(:hange Date. ���• � '"'`'" �'�"'
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<br />��,�:�<i; 'rha Note Holder will then determine the amount of the ma.-�,2ily payment that would be sufficient to repay the � �� �;,�
<br /> •:���;,1• _
<br /> .�. u�aid principal that I am expected to owe at the Change Date:�full on the Maturity Date sY my new interest rate ^°` '°' � '�`,�• ,,.
<br /> Ye9 P Y .:�.'��''.�si'� '��.
<br /> .,, . in substantiall nzl a ments. 'Fhe result of this calculation w::l be the new amount of my monttily pay*^._.ent. •t :,'?'���'t��5 7`b;:,,�
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<br /> � (D)LImiL4 on T._.,r"2rest Rate Chaages /� �':
<br /> The interest rate I am required to pay at the first Change DZtr will not be geater than 9.250 % `�1],�j.z
<br /> �r•r'���a,.:sS .
<br /> � or less than 5.250 %.Thereafter,my:-�:rest rate will never be:n:re�Qr decr�ed on ;�;'�:.
<br /> � any singte Change Date by more than two percentage points�(�.�;b)from c.�s rate of ir.w�rest I have�en paying ��: i
<br /> for the prece�ing tvr�;ve months.My intemst r��wiU never be geater thu� 12.250 � %. .;��._'n,,�_ � „
<br /> My interes4 raYe wi1 1 never �Se 1ower t han 5.2 5 0 S K. ,� � � � -
<br /> �s ,a, ,.ur.tis.��
<br /> si.,: (�)lEi'fective Date of Chace�es .t, .'s��4l.�� � ��
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<br /> 22�new interest rate will bec�.-�effective on each Change Date. I will pay the a:�•�.i`.of my new monthly ,�:�• ?:,�,�.�,.''1:.h•;%•�:•
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<br />`:•``:;'��°• payment besirming on the first monthly paym�t date after the Change Date until d:� ��oust of ny monthly •:..��a ••��j�f+;,, � �-•�
<br />`�+`;��'�� payment changes again. � - -
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<br /> "��;r':'• ' (�Notice of Changes .: ::._�,..�;;�-.��(��
<br /> ��"'��'� Tit:Note Holder wiil deliver or mail to me a notice of an chan es in m interest rate and the aznount of m ' ' ' "
<br /> :•����:a,, Y S Y Y .� ..�....;k,,.j .
<br /> '��•'��' mont4:� a ment before the effective date of an chan e.The notice will include information required by law to - �"'�''"'` '`'�""`�`_'�=
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<br /> .. be given me and also the title and telephone number of a person who w•iil answer any questioa I r.�ay have , •;�.�,,•
<br /> : regarding the notice. _
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<br /> ' • MllLTfSTATE ADJUSTABLE RATE RIDER-ARM 5•2-Single Family•Fannlo MaelFreddio Rllec Unt.rorm Ihsttum6nt . • �
<br /> iorm 3111 3/85 .
<br /> � � �$$�1 193051 VMP tdORTGAGE FORMS 1800�5Y1�7291 6��hinted on ReqUed Paycr � �4' �� ��
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