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<br /> ' ADJU6TA8l.T RA'�'� RlUFlt � �:� .. , ,�^�:��.�--�
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<br /> ' t/ Y�r 71n�w�r t�iacr�R�M Cs�1^�M��r��'� , '
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<br /> � ,. ' �HISADIUBTAB�.81tA78�t1�Rbia�de�hh f9th dq►of M�tch � •R:
<br /> . 19 .Mnd b t�co�pora�ed�Mto uad�hdi be damod to�ma�d�ud tup Ib�I�ialy�M.Opd of Trw1
<br /> -------�— : ' or seaedty ID�ed Itbe"�va�itr�aa�t")oP ti�e s�me dwe�iwaa i�Y d� "�'�?ta a�s- . _.,• :°;. _ _
<br /> - -�_ _���__-,-�,.�..-.� � .. gono,as�'t MU �•� a..���� � � ��..Ira�de�'9�.� .
<br /> ' . . 'q�qe dale�nd cov�erri�tbe fM�pgtr daarlbod ip tM Sacu�iq imt��ad loe�led att ; ' .. ` '`'" r;F.
<br /> , � �263 I�EVADA GRAtD iSLMD. 1� �i8B00
<br /> �P�qat/A�/teal
<br /> ` • THfs NOT@ CONTAINS PROVISIONS ALLOWINO FOR CMANQL8IN TNH INT�iiEBT RAT�
<br /> AND TH61YlONTHLY PAVM�NT. TH� NOT@ WMIZ$TH8 AMOUNT TH��D�ONI�R'S
<br /> "' ' •• ,ADJUSTABLE INTEREBT 11I1T�CAN CNANOB AT ANY ON�TIMF/1N0 TNE�AAXIMUM
<br /> - — RATfs TNE 80RROVYER MUST PAY.THE NOTH AL80 CONTAINB THE OPTION TO CONVERT:,, ,
<br /> T�IB AOJUSTA6LE RA7'8 Tp A i�iX�D RATF.
<br /> ,
<br /> � — - - ADUITIONAL DOVBNANTS.In�ddl�lon to�he covon�qu�nd�ee+ne�u!n�de iu tl��urity IaNrumew. r..-
<br /> _ = eorrowc�and Lender futlhec cavan�nt�nd saroe as fallowsa �
<br />` �,u� ,_ A. AWU31'ABLB ItA�'E AND MONTHLY PAYMENT CNAN�iB� �,,',��a�ov��,«�� .
<br />`s��r�� The Note pro�ida for ao initi�l interat r�le o(
<br />"-1l---._.Tr , c
<br /> .��i�rA�€: in the.�djustable7ncerat nte u�d the monthiy paYment:.a�(ollow�s .
<br /> ::::a�►irs�;° � _
<br />:�i��+-=— ,. �I�JUSTABIE!N7'�9T ltATE ANU MONTIII.Y PAYM6NT CNANCES
<br />�_.rs'�ls�,...�„ , .
<br /> _-�'i ;t (A) CbM�e Uata
<br /> ' ��,� The adjust+ible intetat nle 1 will pay moy chaaQe on the tlrtt day of Apr i 1 •
<br /> '$�; and oa th�t day�►12th momh thaaQa'.&�b d�te on whkh my a�iust�bla iaterat nta aould�h�n�a
<br />_�.� ��_�'� . 19 94 � ,
<br /> ,=� -- �:�-�— a cAited+� "Ct+�ti�e Datr." � -
<br /> � -- , .:a: ,
<br />_�r3. � th*..,.,•�:; 't.'.�� '.
<br />•-�ai ,� �.;i`t�.f_.`:��'.`�y"`" �' (111 Tbe lOde1�
<br /> _ ;k ' �"�,s, �eginning with the fint Change Date.my adjus�wble interat�a�e will be bacGd on an Ipdex.The"Indac"i�the ��:!"'
<br />••K! .
<br /> '.�:i ;���"?�'°`•L`,:;��;.�:�;." , weekly Averege y(eld on United Statcs Tre�au�y ae+:u�ilies ad)u:led to n canstaat matu�lty af I y�ar�ae m�tde���bk
<br />`��`�'`` '�" a .n ��� by thr Federal Reserve Board.The most raent Index figure av�Uwble aa of Ihe da�e 4S daya befare rach Chu�e Date •
<br /> ••r ,�i���•°.:;. .
<br />'.;} � � �;f• _ � �'�°'� it called the "Current Index."
<br /> +�° �' �'�'�' ' f '' If the Index ic no longer availeble,the Note Hdder will choose a new index which is based upon eomlP�bk
<br /> 1,r r+'t•
<br /> ';r'� ��:• �'y' Information. The Note Holder will give me no�ice of this choice. �
<br />— :;°i �
<br /> -- '�' (C) C�Icul�tion o�Ch�n�es
<br /> � ac�orc cach at�c Dete,the Not�Hnlder will ulculate my new inte�ett rate by�ddtna _
<br /> ';��: �' :•:; . , � ': �.7500 perceat�e point�( 2.7500 S6)to the Current Indcx.
<br /> '�`� �' »� The Note Holder will thcn�ound the resuit of tht:addkion to the nearat one-eighlh oQ one perccnta4e point(0.125'16). ---
<br /> � ;��-'�� ����� Subjcc�to thc Ihuies statcd in SecUon 4(D)below. �bis rounded amount will be my new interat�de until the next
<br /> �:'i?.:' ,.. ., . ., [:•-
<br /> Change Date. r '•
<br /> a�� ,, �� The Note Hoider will then determine the amount vl'the mon�hly payment that would be s�Gftiicient to rep�y the �� ,:;
<br /> �>",�.- unpa���!principal that 1 am expected to owe at the Change Date in full on the maturity date al my new intaes�ate -
<br /> :�` �. ,:° ,h` ,�� . • ' �ia��ubstantially equal payments. ?he result of lhis calcula�ion will be the new amount ot my month�y P��• _
<br /> . : . °�: :,,.��. (Dl Um{I:on laleral R*le Cho��ea � -_-
<br /> � �� �'' � 'fIK interest�ate 1 am required to pay at tCA�iirst Change Date will not be greater than 6.7500 _
<br />— __ 4 lr..��.��. ..��..,� . '
<br /> "" �.,�� �,�'h;Y +;, . u�kss than 2•7500 �i.Thereat�cr� my adjustable intereat rale will neve�be increased or dec�eased
<br /> t�;��`�;' ��,'.�':�;�� on any single Change Dale by�iR+a�e lhan two pc�cenl�gr pointa(2.0�'i) from Ihe rate of in�ereat 1 have been pvyin�
<br /> i� : .... ��s�;�,:.,.�.
<br /> ,�,r�,,• � �`�;S},�•,•;�;,,.,: for the precedin�12 monlhs.My interest rate wil!nevee be greoter then 10.7ri00 �Nr.which ia calkd � .f
<br /> ':;P`�'�'��,t�;,'�'��}�,(1.�• the"Maximum Rate �•�t�
<br /> � �;.:;�,��%;'. ��{:��'��+,� ° `` (E) Efferlire►lhle o(ChanQes `
<br /> �
<br /> " My new inle�est rate will become efte�bove vn tach Cl�anga Dale.Y wil!puy lhe amounl ot�to�new monll�ly payment r'�
<br /> :y�i; y;�:t:i�'r�,•..:':NJ��•' y � 111lnt cblin es '
<br />�����:} S'rt`��4n;;�T'.�f��`;';�.�`�r' � � be �n�in on the fi�sl monthl pay�mQnt�Oaae aPiar tlK Cl�a e Da�e umil the amomet ot my m�m�hOY t►�Y a ,
<br /> ,c.,�; i,��t.,� . ; ,.,�iE..�,.i�r:.k, B � � .,,
<br /> " t.�'�,%'' . •°�'s;..,t, AQain. •
<br /> (F� Nolke o� Cuaages
<br /> � ' The Note Holder will delivev ot�,�u�co ur�e a notice of any chaogex in my adjus�abk in�eresa c.��ae and¢6�e amoun� `
<br /> .'�', ' � of my monlhly paymenl before ahe ef(eclive dale vf any cl�auQa Tl�e nolice will incluJe infarmatumn required by Isw
<br /> '� ` to be given me and also thr�irk ynd telepl�one numbcr ot a persoa who wNl au:wer any quea�ion I maY have re�ardin� 6:�,:_
<br /> :��. the nolice. ���l'
<br /> '° - u. FIX� INT�ItEST ItATE UPTIUN ���,�
<br />-�_'��,,� _ _ • �..
<br /> ���'�" - The Note provides for the Dorro�ver's option �o couvert from an adjuitebk in�eral �we wi�h interat ra�e limi�s �,::;,'
<br /> � _� � , � to a fixed in►erest rate. as followa: ', :�
<br /> � � S. FIXEU INTERLST RAT�CONVER310N UI'TION i
<br /> _. :,. `" °'' � �;'� �� tA) Oplian lo ConveH lo �Ixed R�le '
<br /> _ '� �� X ' � ' 1 have a Conversion Option that I can exercise unless I am in default or this Section S(A) will not permU me �
<br /> ' ' ' , to do so.Tlie"Conversion Optlon"is my option lo convert the interat rele 1 am required to pay by this Note from �.:
<br /> ,�y���". an adjuslable rale with in�erat rate limils to the flxed rate calculated under Section 3(B)below. I
<br /> ' �� The con�er:ion can only take place on a date(s) specified by the Note Holder during the period beginning on �
<br /> .. ' -�.;�
<br /> ' ,` ���. •. Uu firsl Chan�e Dale and endina on the fff�h Chan�e Date.Lach dnte on which my�djustable iMerat ra�e c�n conver�
<br />�' � � tt ' • ��w w the new Raed ra�e i:called the"Conversio�i DNe."
<br /> �. .. MULTIiTATF ADJUQTABLF M?E RIDER—ARM PL/1N 87-Si�pl�iNnilv-fM�nN M��U�Jlonn In�nur�t Fam 3116 12187
<br /> .? - 1�1A� •8+6A•�ll�� hMMO�"'�r.r rIwV6� �)1]il���"'� • I�OASt��t�t _ - _ ��__.
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