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<br /> 321-1630348 77t9
<br /> ���USTABLE R.ATE RIDER �
<br /> THIS MJUSTABLB RATQ R1DBR i�m�de this 12TH cyy ot
<br /> JUIY � 1993 .and is incomoruod into and shall ba deemed to ametM�nd applane��t
<br /> the Mangage,Deed of Truu or Socurity Doed("Security Ingtn�ment")of t!rc aAme date�iven by the undersipwd
<br /> ('•Bor�awer")to�ewro Horrower's Noto("Note")w NORWE9T MORTOAOE� INC.
<br /> (the'•[�x�•,)ot�he t�ut�e d�tc�nd wverin�tha property de�cribod ia lha 9ecurity Inqrument�nd loc�tad�t:
<br /> 1713 WEST KOENIO 8TR�ET ORAND IBLAND� NE 6E�0�
<br /> I�m���I ' —
<br /> TNE NUTE CONTAINS PItOV13IONS ALLOWING FOR CHANGE3 IN THE INTERC.ST
<br /> RATE AND THE MONTHLY PAYMENT. TI� NOTE L[MITS Tlt� AMOUNT THE
<br /> BORROWER'3 INTEItEST RATE CAN CHANGE AT ANY ONE TIME AND TNE
<br /> MAXIMUM MTE Tf�BORROWER MUST PAY.
<br /> ADDITIONAL COVENANTS. In addition to the vovenants and a�nemeMS made in thc Security
<br /> Instrument,Horrnwer and Lender fu�tlur oove�wnt and a�rce as follows:
<br /> S.INTERFSf RATE AND MONTHLY AAYMENT CHANGES
<br /> � iA1'L'l:as�r Dast
<br /> The intercst rate may change on tlic first day of OCTOBER , 1994 .and on that day
<br /> af each auccading year."Chonge Datc"means wch dete on which Ihc interest ratc oould change.
<br /> (il)The lndex �
<br /> Heginning with thc first Change Date,the interest rate will be baced on an Index. "Index"tt�eans the weekly
<br /> avcrage yield an United StAtes Treasury Securities adJusted to a constant maturity of one year, as madc avallable
<br /> by the Federal Reserve Board. "Current Index"meana the mast recent lrxlex figure available 30 days befon the
<br /> Change Date.if the Index (as defined above) is no longer available. Lender will use as a new Indax any index �"
<br /> prescribed by 1he Secretary(ns defined in paragreph 7(B)).L,ender wlll give Borrower notice of the nBw Index. �°
<br /> (C)CAIculAdon ot Interest Rate Chenges
<br /> Befor�e each Change Dute,L.ender will calculAte a new interest ratc by adding a mergin of
<br /> TWO percentege puint(+)( 2.000 �'o)to the �.,,
<br /> Curcent fadex und rounding thc sum to the neurest one-efghth af ane percentoge point(0.12596). Subject to the �-
<br /> limits stated in p•r�agraph S(D) of this Note. this rounded amount will be the new interest rata until the next -
<br /> Chenge Dete.
<br /> (D)Limits oa interest Rate Chenges
<br /> The interest rate will never incmusc or decrease by more thun one percenmge point(I.OY6)on any single =
<br /> Change Date.The interest rate will never be morc than fve percentage points (5.0 J)higher or lower than the
<br /> initial interest rate stated in paragrnph 2 of lhis Note. -
<br /> v.o.�o�s F71A�fullbctate ARM Rider•3l9! -
<br /> ��88�IY103� VMP MORTOA6E i0RM5�13131793•8100-18001621-77Y1 -
<br /> NMfL W41 fY1
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