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<br /> N 91- 102044
<br /> FHA MULTISTATE ADJZIS'rABI.� RATE RmER
<br /> � �ti ' ;,.,, , ���"�'�1 J{fYiYG M�N�/aR YW 5th w�O' --_
<br /> " ° r a � 19 ��� ��t�IIOOIpOT�fOd�IifO�i��f0 d0a00d W N�Yl{�tY�1�0�I1E11� --
<br /> � . .� . �' T�'�.�v.�.-
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<br /> �• In�pumpn.•)of d�o sama d�to given by�ha unduci�nod("Iiomaurer'1 =_-- -
<br /> � d�e b(atQs�e�Dad of Truct or Secu�iry Doed( Secudty ..
<br /> ^ �o wcu�e 8o�rawet's Note("Note••)to --
<br />_ �d1�L.�..�..,��
<br /> �,, +.. u, COLUM6US FEOERAI. SAVlP1GS BANK �' ' —
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<br /> � ��u. .,e.,ru�;�:�=
<br /> . ��,�l,ender••)of tbe�tna due and caveri��tha prope�y doccr�ed in�bo 3eauitY Ia�uua�a�� :��-.�_.�,�
<br /> �:, -—
<br /> " �115 4fEST DIVISIfiIN �s��a�+�,,.�_�
<br /> GRAt�O I S1.M10. 1� 68801 �--. :.;=°�=—
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<br /> (p�nty Adfiess) '�' _:°:': . .
<br /> THE 1�01E GONf�A[t�S PROYIS[ONS I►1L�WD�G FOR C1UNG6�IIV T�DV1ERi�SI'RA7E s�.°f.�;.�`k,:�,;;,:-_-- ,'��-
<br /> t AND THE MO1V11�11.Y PAY!MOE.'1�A',� N(1TE I.II�U1'S T4�AMOUNT'1'i�BORROWER S •`,�.'.{r(��j�1t#��_--:—�r;>;:
<br /> �NTERGSi' RATE CAN C�DG�iti�A"o' MJY Q�1VB 77ME M1D THR MAXIINUM RA1E 'l'f� ,;t,. 't� 'titi�;:
<br /> � BORROWER MI1ST PAY. . .. � ..`:.��'"""`
<br /> � e91DDIT[ONAI.COVENAN'TS.la addidon oo the cflver�aam aad a�ar�a�ia the Secarity LWrumaK, liorcaaer i'�t:
<br /> ,; , �t�. �.,.
<br /> , �d[�iWtl�er cmens�at�nd a�roe a�follows: '„�;,�:i;';�. :�..;
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<br /> .�" �� , 1., l.U�r 1t+e Note� dte iaitial stated inWat rate of �. ' ;,.(��,�?it�� --
<br /> ven � Si, ������ . `, :�
<br /> ( 7.0000 ' ,
<br /> bnlmce ia wb clwnge a+ha�eLutR�d�nbed.Wden !. '.i�„:, ,
<br /> " per armum("Wtial Intenr�t Race••••a�on the unpaid priacip�l 1�m � �, . `
<br /> ,aa herainaRu pr'ovld• �.'�'`,; r�• . ��.
<br /> ., du ir►taixt ratc chongea,the�qu�1 rnrmu�fily insaUment�of princip�i aad iaterat�so wW be adju�oed��of d�e Note�a� � . ,�l }
<br /> -. bd,ca d�at each issgns!lmes:t w31!tx��aa amounc neces�ry w iWly arrardze the unp�id PriaciPal i • _�.�1:aL
<br /> . ^-; ��. the ncw adjusted inte�sst tate,over U►e rwn�ining t�t of the Nc+te. ���;r; .��';;;°���"
<br /> • �'', rate i an �as�meat is reyulrod)wiU be effecdve on tha tirst day of ' '�,
<br /> � , .;f;;,,;� 2.The fint aajusanau to�e imerese �� Y �Z :�`.• • ' . ,
<br /> . Jul r , 19 (wh�J1+dAto wW not be Ipt than tweive mondu nor more�haio�eigMte�� t` : .
<br /> .:.1'" .�,,
<br /> , �;•�'ti . .
<br /> . ,,:�
<br /> , months frum the due date of thc first insiallmcnt payment unde�a.'ee Nota).and thercafter ach adjusdnent to tfia intercs� ; �,i;,i��l�� �•. .,�,
<br /> rate wlll be made eft'acdve on that day of each succadi�g ywr during�i►e term of tfie Securiry��smunem("C�nB����� ;�" .,,,,��:;':�. . �•,,��..�y;
<br /> .. 3.Each adjusnnent to the interest rate will be madc 6as�c1 u�on U►e followfng metlwd of empbying the wakly avers►ge ylelo ,, ,,�• ' . '�, d•,f .
<br /> r,,' � � ��,�.'�,
<br /> on United Stetes Treasury Sxurities acljasttd tu�A consmnt maturity of ona year("Index":the Index ie published im th� � ;•, ,:.,::,:
<br /> '' � F e d e r a l R e s e r v e B u l/edn and made a+�:ai�ahle bJr thc United States Treasury Deparunent in Statistical Releace I�➢.13(S19)) , '�;.,,,.r . .�:�,,�;�,,
<br /> � '. As of each Change Date, it will bc d�.�c.r•m�ined wh�tbrcr or not an inte�est rate adjustment muYt�e m�d a,+a d t h e�n o u n' , `...• " •r,,�'>:%.;,..�.
<br /> , :'l.•�,�::-�:
<br /> . of�h�aew adjusted interest mte. if any, as iolloas: ;, ;�:.:�.:
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<br /> (nl The amount of the Index wiQ be detertnined.uaiag Ihe most rocendy aveilaWe fi�ure�tf�i�ry(30)days beforc�tC�e Ctwag.• ; '.',:�,,j,,.;,,,�
<br /> � pate q"Caac�ent Lndex")• p��oentn�e point. , , �
<br /> (b1 T� 2.0000 Sf°: ' �''.�
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<br /> the"Margin")wili be added to the Currcnt Index and the sum of this addirion will be rounded w d�e nnrcst oae-cighU� '�.
<br /> � of one percenmge point(Q.1237).'The rounded sum�of the Nlar�in plus the Curtan Udea.wW be callod tb"Giculnte� , .�;': .: .' . .
<br /> ' Inurest Rate^ for each ChanBe Dau. , . .�',`'..���'. •, �. ;,��.,
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<br /> ' ��, (c)The Calculated Interest Raa wiU be compared to the interest rnte being earned immedjately prior w the cur�au Cf�ng.• ,. . .
<br /> Date (such interest rate being calkd the"Existing Inter�t Rate"). 'ltiea� the new adjustod iaterest nte. if�ny.wiU � �..�.,
<br /> r ' �"�Q• ' . _
<br /> ,� be detertnined as ialGows:
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<br /> � . } �.•�. , � ��' � (i) Iff the Cal¢ulated lnterest R�te is Ihe same as the Exiuing Intertst Etate.the incerest�� ���.
<br /> ' :�`;•�i;�•�,.• .. . �„
<br /> �' ,�.'t�'�" ' (ii� If the diffuence betwcen the Calculatod foterest Rate and the Ezisting Intercst Rate is las than or eqwl to om
<br /> . r �� perceetage pa�i�a¢,the new ndjusted incereu:r.a��e will be equal to the Cakulaeed Intorcsc Rate(subject co the rtw�
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<br /> ,.:,,�•,,:, imum sJlowa�le�ungc over the term of tC+e:�.�uriry instrument of five�ev�eenta�e points�in e�thar d'au�°n.fr°n`
<br /> I ,!,', , � the Initi�l l0rta�eu Raut. herrcin callcd the "S96 Cap"1.
<br /> . { . ., ,�
<br />, .. �•�,,�,'�, • (i6y It rlee C�IcuC�r,eS 9cetcrest Rat�cncecds tIu Eaistcng Itt�erest R�r¢by awrt rt�san c+me�pea�etttage poic�t.l!m new adjuun
<br /> j mterat r�w.i::be equal to une{xrcentage po�cu higeeer ttr�e che�cns[aT�g Interest Rate(sublxc w�tx 3% Cap►
<br /> '.i 1 .�Y.. _
<br /> . . �riy If the Calculated Interest Itate is less t}�n the Eaiscing�r►cerest Itate oy more�iwn onc P�r�c�i�s�w"F""'—"
<br /> ` adjusted intcrest rote will be equal to one peroenmge poiru less ltian the Existin�W�erat Itate(subject to the S'X�Cap)
<br /> �
<br /> ' (d) NotwiU�smnding anything conttinal in this Adjustable Itate Wder, in no evqu will eny new adJustod interat rau b.
<br /> ' rnorc tlwn five perctntnge l3%)poina higher or lower than the Ltitid ln�Rate. 1f anY incrcase or docrt�se in th�
<br /> Caistin�Intcrest Rate would rausc the new udjustod interest rsite to ezceed the S'Xr Cap,�he ocw adlus�ed ituerest�t•
<br /> wfll bt limited to five percentn�e 13°0l po�nts higher or lower,w•hichever�s applicuble.ttw�the Initid Interest 14tc
<br /> I T..Yr�edY PMM 1 a 1 InY 1•Uti IMa�M���r�IA
<br /> � i .t�1 1lOU1NO2d). 4��Mu�51121�1 '{�\M1li�111 IU
<br /> � FOtlll 8SA7(�9)
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