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<br /> . � ' . � ADr1U�7'ASL� RAT6 RIDI�t " ;,�:�r�:
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<br /> - - _.(�.w.s�s�.n..�►'°�:�-�d�--RtM!b����1� _.. .
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<br /> THt3ADJUSTA9i.8AA'lEItID6Ra�a�t�tNa Z6lb dy„� �ril � � _ �
<br /> 19 93 � and b iacarpat�t�d i�to n�d ahdl be depn�Od to�d�d � x����i��DNd ot TtrM .,
<br /> or secv�itr oeea t�hs"Saeu�Ny�nNr�1"1 ot tM s�a�.du.dwn b�r tht w�rMp�,id tlbe��Bo�a,�+7 a,�pla ;;�
<br /> �o�'r AdJua��bk R�l�IVM�(�hs"Nat��y to ����•�,��ot tl�"`
<br /> aa�e a.te.na cova+ns�wM�����r ta�ua�aat.ua�oat�a�t: "�
<br /> 9115 DItI11ANO0D B6YD OR11ND ISLMD, !IE 68801
<br /> IPropat�►AddnaD
<br /> THE NOT�CONTAINB PROVISIONB ALLOWINO FOR CHAN�3E81N TN�INTER�BT WATH
<br /> /1Np TH�IYIONTHLY PAYMENT.THE NOTB LINAITS THE AMOUNT THE 8011ROWER�d
<br /> ' •• �1D,WSTA�I.E MITEAlST RATH CAN CHANQE AT ANY OrNE TMIII�AND THE MAXMIJM
<br /> �RATE ZiIE BDIYIONIER MUST PAY.THE NOTE A�1�0 CONT/WS THI�OP'i10M Ti0 CONVERT
<br /> THE RDJU8TA9LE RATE TO A FlXED RATE. ,
<br /> ,
<br /> • - !�, ' ' •. ADUITIUNAI.COYEh1ANT6.ln additlan to the cmenanta�1�srenn�als mad��u!hC Se�vitr i�runtp�t. � �
<br /> . ' ,�cxiower�nd Leader i'urther wve�unt�nd ��rca�s fdlaw�i � • . .
<br /> -= I�; ADJUSTABLE RATE AND MUNTHLY PAYME[�''�!1/1NCE8 �:,�,�N���far�h�a�e�
<br /> 'Che Note.p�ovides for�n Initid intetat n�te of �,b250
<br /> in the adJus��bte lntaat r�te�nd the monlhly p�yments,�e.iotbws:
<br /> �'�'� .�,�� 4. AWUSTABLE INTEREST RATE ANU MONYNLY PAYMP.N'�CHANGE�
<br /> •.;:' �-
<br /> -'�"` (A1 Cl��a�e D�ks
<br /> ..�._ '' The adjustaWe interal r�ta 1 will pay m�y chpn4e on the fint d�y o� lla7� �
<br />:=+t._�. 19 94 .�nd on th�t day every 12th moMh�hereafta.Bach due an whkh imy.s�djwt�bla intere�t rate could cJauye
<br />� - i i9 salled a"Cha�e Date." , .
<br /> ' '1'''�"� 'N) The ladet
<br /> �.r�+��g`z:•`. ,
<br /> _ Be�inning with the firat ChonQe Dote,my adjustab�e lnterest rate will bc based on an Index.The"�nde�c"�S the
<br /> - weekly aver�ge yidd on United Sta�a Trc�sury aecu�i�les e�djusted ta�co�u��nt m�lurity of 1 year�as made�vaiiRble
<br /> '`- by thr Federa!�taserve Board.The most�ecent Inc'ex figu�e evailable as mt Ihe d�te 4S daya before a�ch Clun�e D�te
<br /> - - ��>' _ ia cnlled the "Current Index."
<br /> _ �� •��;.,.: � If the Index is no longe� availabte. the Note Holder will choose a new intiex which is b�sed upon cotop�ra6le
<br /> , information.Tha Note Holdcr will Qlve me.aotia of this choice.
<br /> =3., - .,,«-�,.r;r . •
<br />- � �� i•:� �,�y,,,�. (G� CslculwQoa of ClnnQa
<br /> �•* '���` 8efore each Chonge Date.the Note Holder wili calculate my new iate�at r�te by addin�
<br />'�j `�°f�`�" "' �" 2.7500 percentage poMt�( 2.75�0 �(r)to the Currenl ladex.
<br /> ���`
<br /> '�'�"�� �'�,�:�&�- � The Note Holder will then round the re:ult oi thi:addiUon to the neareat onaei�h¢?+uT one percent�e point(0.l2S�li).
<br /> �,:Lir'..�,., �
<br /> � '.�:�E��s;;�;i;` Subject to the limits stated in 3ectlon 4(D)below� thi� �oundcd pmount will be my new intera►rate unQl tha next
<br />„� .,,.,;sl�... Change Date.
<br /> .,' .,
<br /> � ' ' The Note Holder will then determine the amount of the monthly paymenl th�t would be sutpcient to repry the
<br /> ti;.M:rx�.-;I,�E��� , .,.� unpaid principal lh�t 1 am expected to owe at the Change Date in full on the maturity date at my new interat nte
<br /> � " � � '��'� � in tubstantially equel paymenta. The result of this calcuktion will be the new amount oP my monthly payment.
<br /> •...,, .
<br /> �� � ��.-.". '- (D) I.imils on Inlen�l lt�le Ch�nRp 6.5250
<br /> �- k Tl�e fntereat rate�a��uired to pay at the fi�st Chan�e Dale wiU ao�be a�ealer than �
<br /> �.�..'._ . �.
<br /> _�- qi.Tl�ereafter,my adju:table Inlerat nle will never be increased or dareased =_
<br /> 4,..,. �;T . or less thon
<br /> ►: : ,.,�.•� • on ony aingle Chenge Dale by more than lwo percentage poinls(2.OS'i) from Ihc rale of interesl 1 h�ve bean paying �_
<br /> �. ��.. . .t.::t�.. �1U�whkh is cAlled �
<br /> r� . . �;�f',_:��� for the precedinQ 12 montns.My interat�ate will never be areate�than 10.6250 _
<br /> - .: . ''"' , . the "Mtucimum Rate". __
<br /> '�` � � (E) E/ftclive Ua/e of CM�n�e: "
<br />_-. % .:' u,rr,;�,.:=� My new interest rate w!!!become effec�ive on each Change Date.I will poy the amounl of my new monthly ppymmt _
<br /> ,��°�..�._, ;�,';;?,;,� . beginning on�he first montldy payment date after the Change Uate unlii the anwunt of my monthly paymenl chan4es _
<br /> - In;f:��. �. .
<br />- ;�,.�`,.,:,}�,,.f`II�. AgA10. �
<br /> , • ,R�, '.,^ :• �'�' lF) Notice oi Ct�anges
<br /> - .,�.. . �,�:•���;;, :,;�• The Nale Holder will deliver or rnail to me a noiice of any changes in my ad ju��able interest rale and the amoun� �;
<br /> -�.`.,�4';a � � ' ��+�t,:�•`;sa.;:'�••�; of my monv6ly payment before the efiective da�e of pny change.The notke wfll include informalion requited by law (
<br /> ``����E.� �:;;:�:;';�<+,l,s- -. �o be given me and also�he ti�le and�elephone num�ier of a person who will answe�any queslion I may I�ave regarding L_,
<br /> �:
<br /> .,•. ;;:.�,r,:c::.:��., � Ihe nolice. �
<br /> J,;;i , � .�:��.�,�.�,,,,��
<br /> --:` ��:1y�4 � vn�� ■���rcbcc��r' p�'�'�l�1P'1'If1N t .
<br /> V� �'�ACA/ �I\r{'4��W•
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<br />'��1� ��� '�' r'" �'_a� =� The Note providea for the Borrower'a op�ion to convert from an adJustable interesl rate with interesl rate timits i
<br /> •���-.`�' to a (ixed intereet rate, a� followa: �
<br />-�- �., ';�';�,�'`�.,,,. :
<br /> � - S. FiXEU IN'i'ERCST RATE CONYER510lV UPTION
<br /> � •� ` ,a'� (A) Opllnn lo Converl lo Flxed Ra1e �
<br /> ' �'` '' r ` I have a Conversion Opdon �hat 1 can exercise unless I am in default or thla Section S(A)will no� permit me
<br /> '�''�"''"�'" to do ao.The"Conversion Option"is my option toconvert the interat r�te I am required to pay by thi:Note from i
<br />-�"���� "�' ' f�'� ` en adjualabk rate with inte�at rate limit�to the fixed rate calculated under Section S(B)below. �
<br /> � •. ' � ��'`�� . z The conversion can only take place on a dnte(s)�pecitied by the Nate Holder durinQ Ihe period be�inning on
<br /> `;�,:�`,'.�,�,':
<br /> �he firsl Change Unie and aidin�on the fifth Change Date.Each d�te on whicb my adj�table intereat nte can conven
<br /> _ �- -�-"�"�� ro the new fixed rue Is called the"Convenion Da�e." �
<br /> . :
<br /> MUITISTATH AOJUSTA8L8 qATQ RICBp-ARM PLAN R7-Slnpt�F�mlly-F�nnt� M��Unllorm Ia�MUmMt Form 3118 12187 �
<br /> �,•y . ;�,•-•r. .M� eeew..••v VMPMnn.. .ro4¢ •1��11f0�111nn •�lOdltl t}P� . .
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