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<br /> � 321-16z9AS2 7x9 �
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<br /> ADJUSTABLE RATE RIDER ��
<br /> ��s�nuusr�►e[.s w►�re rtmsrt�•m.ae�ht� eTH a,y ar .
<br /> �7ULY , 1993 .�nd ii incorpor�tad into and chtll bo datrwd to amend and wppkmatt
<br /> U�MuriYYgd,Daed at Tnist or S�xcudty Dood(•'Secn�lty Instntmont")of the sonw d�te gIvdu by Uw ww1�+.iwwJ
<br /> (•'Bonower•'>to�ecyro earrower'a Nae(•'Note")ta NORWEBT MORTOAGE� INC. '
<br /> (thc"I.eider")oi�he�nrc due ud ooverio�the pnopertY dosnibod in Ihe Security Insuument�ud lac�d at:
<br /> 407 EABT F'FIOENIX AVENUE 6kAND ISLAND, t�E 69601
<br /> I►mpe�b Adena�)
<br /> T1�NOTE CONTAMS PROVI&IONS AI.IAW[NG FiOB CNANGES !N THE IN7ER�,'�i�7'
<br /> RATE MID THE MONTHI.Y PAYM�NT. THE NOTE I,Q1�TS THE AMOUNT T� .
<br /> BORROWER'S II�7'EItE.4T ItATE CAN CHANGE AT ANY ONE TIME AND Tli�
<br /> MAXAVNM IUTE TfiE BORROWER MUST PAX.
<br /> ADDITIONAL COVENANTS. In addilian to the covenants and agreement� mAde in the Security
<br /> instrumaq.Bormwer and L.ender further coverwnt�nd agroe as follows:
<br /> s.IINTERE.ST RATE AND MONTHLY PAYMENT CNANGES
<br /> (AD�r Ds4r
<br /> The intcrcst mte mwy chwnge on the fi�st day of OCTOBER � 1994 ,and on that day
<br /> of each suct�ooding year."Change Date"�x each due on which the intercst rate could chenge.
<br /> (11) fie[ndcx
<br /> �e�inning with tha first l.fiange Datc.thc inter+est rate wtll be based on an Index. "Index"mw�es Ihe weekiy
<br /> average yield on Unitod States Treasury Secu�i�ies a�ijusted to a constunt metudty of one year,as made available
<br /> by Uhe Radcral Reservc Boanl. "Curnent Index'meana the most recent Indcx 8gure available 30 days beforc the
<br /> Change Date. If the Indea(us defined above) is no longer available, L.cnder will use as u new Index uny index
<br /> prrscdbed by the Secretary(as defined in parag�aph 7(B)).Lender will give Borrowcr no►ioe of the new index.
<br /> (C) Gdculwtion o[Interest Rate Cl�ng�
<br /> &fi►re e4ch Change Dete,I.ender will calculute a new interetit rate hy adding a margin of _
<br /> TWO percentagc point(�)( 2.000 %)to�he
<br /> Currcnt Iidex and rounding the sum to the ne�rest one-eighth of onc percentage point(0.1259b). Subject to the
<br /> limits ua�ed in parugraph S(D) of this Note, this rounded amount will be the new interest rnte untfl Ihe neat
<br /> Change�te.
<br /> (D) Umits oa Interest Rate Clwnges -
<br /> • The interest rute wfll never incre�.se or decm.nse by more than one percentnge point (1.ORb)an ony single _
<br /> , Changc n�te. The interest rate wifl never bc more thun fivc percentuge points(5.0`Yo)higher or lourer Ihan the
<br /> initial interest rate s�ated in paragruph 2 of Ihis Note.
<br /> Pp�t oi 2 F71A Multhirte ARM 1llder•2191 =
<br /> �68'1�9+oa� VMP MORT6A6E FONMS i313i299 Bt00 iB00�64i 777t _
<br /> ' NMFi 01�1 Fa1 '
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