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<br /> - - - ��29Q0 . _ . �MAR��1 f!+►!�,
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<br /> AD�USTAB�LE RATE AIDER
<br /> - ' t11i�r'rr�'q��a-•�eCsps--l�ee¢�SleCes�resalas Optle�?
<br /> � . . -�- - -
<br /> • '• . , THIS AWUS'�A�I.@ RATB RiDBR ls m�de this 30TH d�y ot ��L�' .19 93 .and i� �
<br /> i n c w r p n t a t e d iaw u�d ihall be deemed tu�meod�nd supQlement the Mar����e.Decd ot'71ru�t ar Securlty Deed
<br /> (the"S�ecurity In�trument��)of tlx�un�p�lt���n���]Q�i��n��iJh:••$o��t�����cure B a rrower's
<br /> �����QO�(� � )� 11 fi w�ia l G �1 �s11111
<br />__. - --_ (the••Leader")of the wne date nnd coverlaQ the proporty dexribad ia
<br /> the Se�urity la4trumeat aad loc�ted�t: .,
<br /> 4246 UTAH AVENUB RRAND ISLAIID. NB 68808
<br /> [Propeny Address] .
<br /> TNE NOTE CONTAINB PROVISIOI�ALLtyYMiNG�OR CiiIINGEB W TIi+E IMT�WEST RATE
<br /> I6ND TNE MOMTHLV P/IYMENT.THE A�IOTE LWITB THE wYO11NT THE BORROWER'8
<br /> AWUSTI1BLfs INTEREBT RA1'!i CAN CHAI�OF AT ANY ONE T'IME AND THE MAXIMUM
<br /> RAT@ THE 80RROWER �AUST PAX. THE NOTB ALSO CONTAINS TNE
<br /> OPTION TO CONVERT THE ADJUST/IBLE RATE TO A FlXED RATE.
<br /> ADQITIONAI.COVENANTS.In�ddition lo the covena�ts a�d a�reements made in the Security Instrumcnt.
<br /> � -'� Horroa�eca�d Lon�kr further coveoant and agree as fotlowa: `
<br /> ..e,=,,,,��. , .
<br /> ���=� ' ' � A.AQAUSTl1�1.�1tATE AND MONTHLY PAYM�N���ANGES
<br /> , . ThQ:No;e provitl�s for nn initial interest race af • 96.The NQxce provldes the changes i�¢h�edjuatable
<br /> ' ' intereat rate and the�nonthly payments.as folYaws: ,
<br /> — 4.ADJU�aTABLE INTEItFST ItATE AND MON'�HLY PAYMENT CHANGES , , ,
<br /> (A)Chw�ge Dates '� �
<br />- The adjustablo imterest rate I wlll pay may chAnge on the first day of �AY . �g ��W'� �
<br /> and on th�t day ev�Ty l2th month thereaft�r. �aeh date,qt� which my adjustable interest rate co�fd chaagu i&. ,
<br /> �- called a'.:,G �n6e'��t�.,. � � , . ,,; .�.
<br /> _� i$)9'Le�adex ; � �
<br /> �`_ Begfnning with the�rst Changc Date,my adjustable interest rate will be based on un Index.The"Index"ls
<br /> ,.;., the weekly uverage yield on United States TreASUty securities adjusted to e constant muturfty of I year,ns made _
<br /> -- available by the Faderal Reserve Board.The most recent ladex figure avuilable as of the date�S duys beforc each � =-
<br /> Change Aate is called the"Current Index."
<br /> If the index is no longer uvniluble,the Note Holder will choose a new indcx that is based upon comparable
<br /> information.The Note Holder will give me notice of this choice.
<br /> (C)Cs�lculatba ot Chwnges 2 .750
<br /> Before each C�n�ute,the Note Holder w�ill celculnte my newinterest rate by adding
<br /> �y ------ percentage points( �Xr►to thc Currenl Index. The Note Holder will then round the result of this stddition
<br /> to ehe nearest one-eighth of one percentuRe point 10.125�n1.Subject to the limits stated in Section 4(D)below,tfiis
<br /> rounded amount wil l ba my new interest rute un�il the nextChnnge Date.
<br /> � The Note Holder will then determine the amount of the monthly p�yment that would be safficiem to repay
<br /> "j f<�� • __.
<br /> �4,�t;� the unpuid principal thut 1 am expected to owe at the Chunge Dute in full on the Maturity Date Wt my new interest .
<br /> rate in substantially equul payments. The result of this calculution will be the new nmount of my moathly pay
<br /> ' C ,
<br /> ,` f: ment. '
<br /> �; ;• (D)Llmits oa Interest Rate ChAnges
<br /> ��. ,�f� The��t�rest rnte 1 um required to pny ut the!irst C hunge Dute will not t�e greAter thun 6'6 25 70 or less
<br /> - than�• T��Thereufter.my udjust�le int�rest rate will never be incren.cedor decreus�d on any ningle Change Date
<br /> „ .,;•;,.• by more thnn percentage point(s)( 'r!)Pro�(�De rate of interest 1 hn�r been puying for the precedinF 12 months.
<br /> ___,�,�:��-�_: _.- My interest rate will never be greater ��' �r, which is cnlled the"Mu.rimum Rate."
<br /> �'°'""�";r� (El ERective Date of Changes
<br />-��� � My new interest rate will become effective on each Chahge Dute.1 will puy the•rmount of my new monthly
<br /> ��'`''- a ment be innin on the first monthl � mcnt date ufler the Chun•e Date until the amount of m monthl
<br /> ���.:.r;--. pY B� S Yp5' � Y Y
<br /> �"'"',°''" " payment changes uguen.
<br /> . ...;��:s.�-�c�•.
<br />_ �:,.•j���I,, (F1 Notice of Ctwt�ges `
<br /> �.��,�la`�;f��;���_�` The Note Halder will deliver or muil to rne a notice of uny chunges in my adjustnble interest rnte and the
<br /> . ,,�-•�;�_N;.r.�.. amount of my rnoothly payment beforr ih�efi�;:tive da�e of'any chan�e.The notice will include infarmatian
<br /> � �.�j1�( � ���•+�:��:��., required by law to he given me und ulso the ti¢le anJ telephone number of u person who will answer any ques�ion =
<br /> '`` �.';",��� 1 may,have regarding�he nouce. _
<br /> �,,�fi���i.¢,,. _
<br /> .�.�,j�„F��-
<br />-. __�.�� B.FIXEU 1NTEREST RATE OPTION -
<br /> - The Note provides for the Borrower's option to convert fram an ndjustuble interest rpte with imeteat rate
<br /> limits to a fixed inter�est mte,ns follows:
<br />'��t S.PIXE11 INTERFST RATE CONVERSI(xV OPTIUN =
<br /> �
<br /> • (A)Optba to Canvert ta Fi:ed Ra/c -
<br /> - __ �r,,,� I hnve A Conversion Option tP►at {c�n excrcise unless 1 am in default or thiy Sccti�n,S�A1 wifl nut pe�o�it �
<br /> --°- -i�TGi��r� me to do xu. The"Conversion Option"is my option to convert thr intereu rs�te 1 am required to puy by this Note !_
<br /> ��� from an adjustuble rute with inoerest rue limits to the fixed rute ralculuted underSection 5(B)bek►w _
<br /> =-�"�=x:.`�;�� �
<br /> ------___ The conversion cun only take place on a da�e(sl specified by the Note Holder during the pericxi beginninF an �
<br /> --- -_- ---•-��� the first Change Dnte And ending on the fifth Chunge Date. Euch J�te on which my adjustable interest rute cun
<br /> `.`;�� oonvert to the new fixed rate is called the"l.onversfon Date." -
<br /> i
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<br />. _ ; NYFLIOQA9A90
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<br /> �!�'•:?�73�
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