|
.��__"V�;. 'j;]+Vr' T"'_'.li" ^ '""� +A. .'rl ..1j..
<br /> .. '��r.f �, � . •'���.' r6� . . , . -�
<br /> .. 4:. r � r 1 � • .. � � .
<br /> 1; ��. �. i
<br /> . �� � � :� -- _
<br /> .... . � ' ___ ._. .
<br /> ...'_ . ._.��ts'":�-`�:�.�ell{�� . . ..—_.—_ .____. ._ ._ .. —.
<br /> �030460 F'NAR-3118-1
<br /> _._ _ - � � _
<br /> -_ _ --� �� ;�IIin.JS�'�l9�.��!t!�TE FI�FR ��3 i �.�RR� �_
<br /> ;�
<br /> tl Xar'IYea�uey Irdeu-Rste C�-Flacel!hu Cav�loa Uplba►
<br /> THlS ADJUSTABLE RATE RIDER is mude Ihia 2SiTH dpy uf dANLIARY . !9 9S ,and iy
<br /> - - — inco�porated into and shell be deemed to amend and supplement the McxtgoQc. DccJ nf Trurt or 5crurity Deed
<br /> = (tha"Securlty Inatrument")of tha�ame dntc ghen by the unde�siancd Ithe"Botmwcr"1�o �r�,urc fJotra►wer's =
<br /> _ -`�� Adjustablo Rate Note(tho'•Note")to NORWE8T MDRTOAOE� INC., A FI INNiiQL1 YA =
<br /> -------- ------ -
<br /> •� CORFURATION (the •'I.ender")oi tho xume da�n md onvorie�Iha pr�po�ly�o�criboJ ia =
<br /> '� ti�a Security Ins�rument aad located ut: -
<br /> _ . �:,. _s -
<br /> ��.,, .,
<br /> _ �%�� , j;R, � �Q� 8LlU7H ARTMLIFt 8TREET aRAND IBLAND� N� bH803 -
<br /> �r
<br /> J--a����yF [P�npeny Addrer�x]
<br /> ..;.Adt'U ___..._ ' , .
<br /> - -_- __= � THI?NOTE�flA�ITAOf�iS PROYISION6 AI.LOWINO FOR CHANQSB IN TN�INTBRSBT RAT� -
<br />?••r•••�o••��n�xsa '
<br /> - =-���.�--'� . ANp�'�9E Qf14DPAT�i1�.1P p'A�YMEWT_ THE NOTB LIIYIIT�TH8 AAAOUNT TH�9QFiROWF3R'8
<br /> =';�'�ftJ`�'' . • ADJI1�tTA1B�.E�N'�£iiE�T RATE CAN CHANOE AT ANY ONB TIME AND TH6 MAXIMUM �
<br /> - ''�� ' RAT� Y►7� �O�lR'�dWER MUST PAY. TNL NOTE AL80 CONTAlNB TMH
<br /> ��-•��r; 4°�1�_ , ' �PTIOIy 1�ZD��t�i1GEq1''i'diE A0JU9TA6LE RATH TO A FIXHO RAT6.
<br /> • - --��- AUb17'lt,1N�A,i.'f�V�f�f.4N7�.ln uddoaion to tt►e caveaams and A��eomont�made in the Siecur�ty Inet�um�nt. =
<br /> _ ' '' T Borrower and Le�dr�f�erthe4 c�venant ami agree as faltows:
<br />.��Y. .�r, . . . _
<br />::_m'; ' : ,��:a-. >.,��-' . . _
<br /> =�y. , S�a,~ A.AI�,�iJSTABLE RATEANU I�fONTHLYPAYMENTCHANGES :
<br /> '' '" The Note provides for un initial interest rute af S.87S°�b.The Nac provides the chun�es in Ihe uljubtublo �
<br />'-��:�" �.' Interest rate and the monthly payments,es Folbws: -
<br /> -_ i. ���� , -
<br />-4�~� ..� � ' ''•i'.,t��' � 4.ADJUSTABLE INTEREST RATE ANDMONTH4Y PAYMENTCHANGES
<br />_":. �'.: �► �� (A)Chonge Dates e
<br />°-:%-�'-, �� . ���' _,
<br /> � � `��� The adjustuble interest rute 1 will pay rnuy change on the flrst day af FEBRUARY . 19 94 �
<br /> -!�' ,�� ;v., � . ��' , � and on thut day every I�th month the�eafte�. Each date on which my udjubtoble intere�t ruta�auld rhan�a iK ��
<br />_'-' >`� ti'�'� ' •�'' ca!leda'•Chsage "
<br /> -'. _.�,�`� ��u�'�r,�'S Dasr. . -
<br /> � ' • '�s; � (B)The Index�
<br /> ,�r�s �;, . �. ,f'`:.�'� .
<br /> , � �S, jr:^,,�,�;�, . Beginning with the flrst Change Date,rny adjustAble imerest rute will M.bu,ed nn un Index.The"Indrx"i�
<br />'_��r,�, j� •";��;(�,� the weekly aver�ge yield on Unit4d Statea Treusury securities adjusted ta u rnnstunt muturity aP I yrur, us mude
<br />--+ r �� ���.,,.,i f-�.,--;::;��, aVaIIAbIC�)•thc Fcdcrs!Rcsertie Bonrd.Thc�most recent lodex�gure available as of the dare 4S day�►hef�re eACh
<br /> `�•;�. 1• •"'`�•`� ���' "'' 't' Change Date is culled the"Current Ind�.r."
<br />..:1.. ,�. ,•,.• ,;:•. , _
<br /> �.Jil.ti '•:�Ii�Yn'e�F�('.,1 1',� .
<br />��:"Yt� ,�} ��11�y,.�'�� ����"�_'•�. !f the index is no langer uvailable, the Not�HoWer wi11 chcwse a new index thut is basod upon compuruble
<br /> 1Lf� �
<br /> •3 • '"�`•�,�.""�•t�'� rt�Hi�' :`� fnformution.The Note Holder a�ill�ive me Itotiee of thiti choice.
<br />�. � ���'�'�' � ;',-w � (C)CAlculatbn of Cds�nges "
<br /> '' � '',,� �` • ,• Before each Chunge Date,the Note Hc�lde� will calculate my newimerext rnte by udding 2.730
<br /> ,.� �;�. .'��;`�..�::;��. percenta�e points(2.750 �kl to the Currem Index. The Nate Holder wil l than round tlic rezuh oP thls udJi�icm
<br />.��'"� #'.,, ' '��"-;�� to the nearest one•eighth of one percentage point(0.I?S��►.Subject to the limits stuted in Section 41D1 below.this
<br /> � rounded umount will be my rtea imerest rote until the next Change Date.
<br />�;� " �:•'�'S'T`•Y•�"-'S. �1� The Note Halder will thrn detemnine the umount uf the monthl a ment th�t would be xuft'iciem to re u -
<br /> .,.; �R;�:::�.��,,,r Y P Y P i'
<br /> !� . �'��•'a� _4��: the unpaid principa�that I am expecrted to c*�he at the Chunge Dute in ful 1 an the Ma�uri�y Uate ut my new in�erc�t
<br /> �a�`.���� �!.+ •�'.;�7r, '..��; � rate in substuntially eyual poyments. Ttie r�sult of this culculution will br the nCw amount ot my tm►ntbly puy-
<br />�`. . ��.'����3��. ,� ment.
<br /> �-:-. '�,,,.�,�-�-�r,:�.;.�r:,. (Dl Ltiults un Interest Ratr Chan��s -
<br /> �''� *s^'""'•.:�""���"' The interest rate I nm re uirrd t� a ui the fint Chun e Dut�will nnt be ��ratrr�hun 7.H73�k ��r Ic�+ �
<br /> �:`�; • �p., �����• A P 5' R b -
<br />�, • , ; ��,,����;�� .„�; than3.d75 �7c.Ti►ereufter,m��ndjuwtable i ntereu rate will nevrr be incrcured or Jecr+ea.eJ on uny.ingle Chun�;e Dule r.
<br />, •, � ';�. �r�� by more thanT'WO �rcentuge pointlsl(2:�)fmm the rute cif interest 1 ha�e bc�n puying fitt the prec�dfng IZ manlhr. �
<br /> ����=-•�-+ ' �"' "1`�• M roterest rute u•ill never be reater tha�l 1.�375�r, which ix callc�i�he"M:�ximum R•rte."
<br /> .�'�'.��i��, y • g
<br />:.''..<;;�� ' � :c IEl EfTective Date of Chan�es
<br />;;�.. . .: ' ���::�',' �:
<br />:tn _, '"-'��.•�:�.,,;;�;4��;�r�:.-�. :4fy new inrerest rute will become effective on carh Changr Uate.I K"III F1�� thr amuunt��t'my nrw rn��nthly
<br /> �k�:.��.. `��,''�'�;• puymeni beginning on the first monthly pa}•ment dute ufter thr Chaa�r Dutr until thr umnunt uf my rnnnthly
<br />:�r�:W , ' 'r=,�:�r� payment ch;mges again. --
<br /> . r'•; � � A ��
<br />,- ,„ .� ,:t��st+.,U.`�;�-;'�`',ti 1�1 NoNce oPCf�an�es
<br /> ��1� ' ,, ,�?';�.��r�r'•�'•"•�� , The Note Holder will dtli��er or mail t o me a nc�ticc ni uny chang�,in my udju+tablc intcrc�t ru�r und thc �-
<br /> ,a.:.,,.
<br /> ?f;',,, � ' � '.*;c��'i;�f�%��;�,;�.,��� nmr�unt of my monthly puyment hrf��re th�eft'rrtive date af uny rhan�c. Thr n��tirc will incluJe informuti�►n �
<br /> ,,;- R 'y �t��,� ,,E reyuired by la�� to bc given me und also ihe iiile •rnd teicphonr numt+erc�ia pe��on who will answer uny yuc�tion __
<br /> ,:• �4�;=;��';�j`.�..����'�r�' 1 may have regnrding the no�ire, `
<br /> i;' }���,._.,';`'il,r+�r4��7 �
<br /> ��.
<br /> .�1,'�� : . , t . —_
<br /> t .��;,.,�,:.� ,�1i,�.� � �.��IXEID lNTtiRES7'ltA7'H OS'7'iON =
<br /> ,��'�.;,':. , . , r
<br /> ' l +�� �.` �;,_jS,`!"�� � �'tae Note pmvides f'ar the Sorrower'� �ptian to comer; fr��m un adju,table intrre�t rutc wilh inlrrr�t ru�� _
<br /> � . �a��i�•'.' IIIIIIIC�A:1 f1YPtI II11PT[L'11'S�In f�c��IS.iwc• �_
<br /> �- �{•-�.--.s.�---:-:..::._.-R7��•.- .. .. " """' """""""' _' "'... - ...
<br /> i t� � r �.�:;.''•:S,l`.i..,; �.� : —.
<br /> � • ;;� ; ;,«. ` S.FIXED INTER��7'RATE CUM'E1�51(�N U�'TIUN -
<br /> , � ' � •• IA1 Optien to Convert to�ixetl!�w¢e �
<br /> �,� �' ,.
<br /> . . ;` } 1 huve a Com•ersion Opsion thut 1 ran r.rrrrise i�nle.� I •rm in def�utt or lhi�S��liu�l SIAI ��ill nut prrinn
<br />
|