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<br /> ADJUSTABLE RATE ItIDER
<br /> . 11 Yar 71rea�ary l�x—R�te C�pc—Flu�d itab Cawcr�la�O�t1o�)
<br /> THlS ADIUSTABLE RAT6 RIDBR is made Ihlr 2�pp day of ggp�g�gR • �9 9� �u�d��
<br /> incorporated into And shall be deemed to Amend and�upplement the Mortyta�e.Deod of Trurt or Security Deed
<br /> (the"Securlty Instrument"1 af the same dato given by thr u�dersi�ned(the'�'Borrawer")ta aecurc Borrower'�
<br /> Adjuatable Rqte Nate(the••No�e'•►to pORY6S? lWR1YiAGH. INC. � A MINNB80TA
<br /> CORPORATION (�he"I.ender")aP the some da�e and coverinQ the proper�y de�cribed in
<br /> '�� �he Security Inatwment�nd IocAted at:
<br /> � M
<br /> 231�5 VIKI110 COURT QRAND ISLAND. N6 68803
<br /> j,•� [Pn+perly Addre.aJ
<br /> `' THE NOTE CONTAINS PROYISIONS ALLOWING FOR CHAN0881N TN9 iNTBREBT FiATE
<br /> AND THE IIONTHLY PAYMENT. THE NOTE LIMIT8 THE AMGUNT TN6 BORROWER'S
<br /> . ' �1'�-'��-=�'�� ADJUBTABL�INTHREST RAT�CAN CHANOE AT ANY ON8 TIIAS AND THE IAAXIMUAA
<br /> ���"��'"�t,. RATE THE BORROWER MUBT PAY. THE NOTE AL80 �QONTAINB TM8
<br /> ' • � 'y-:.;....� i� OPTION TO CONVERT TH�ADJUSTABLE RATE TO A FlXED RATE.
<br /> ' ••i'� , '.�;'•"`L�=�r•
<br /> � � . ADDITIONAI.COVENANT3.In uddi[ion to the covennn[a and ogreements made�in the Security Insuument.
<br /> ....._,;i�_.`, _.;..
<br /> t`� - Barrower and Lender further coven�nt und eg�ee as foliows:
<br /> � .
<br /> ' � �� � ' �� � A.ADJUSTABLE RATE AND MONTNLY PAYMENT CHANGES
<br /> The Nate pravides for an initial interest rote of 4.625�.The Note prc►vi[les th�ch�nges io the adjustable
<br /> ��"�'�;;�i;L_r'"��':`�C;"" interest rAte And the monthly payments,as follows:
<br /> .. ,c.�>�•x� �,t..�.
<br /> .����,)�,�(,�i '
<br /> :.L��t,�;i•�;•�•' �,�. 4.ADJUSTABLEINTERESTRATEANDMONTH4YPAYMENTCHANGBS
<br /> ,� , • • . � (A)Cbs�aRe Dales
<br /> .,. � � ' The udjustable interest rute 1 will puy muy chnnge on the fi�st day of OC1�08ER • 19 94
<br /> , s . ��� And on thut day e��ery 12th man�h thereufter. Each dule on which my adjustAble intaraYt rate could change is
<br /> " �� called u"Change Qate."
<br /> . ;;.;}... � ' ., �: (Bi Tbe Inwirx
<br /> �,•:,� � " �'�'� Be�innin�with the first ChanRe Dnte,my udjutitable interryt rute will he based on�n lndex. The"Index"is
<br /> « . . . ',%_';,•,+.,it�°:�^
<br /> � •, �;�;,.,, the weekly a�•erAge�•ield cm llnited Staces Treusury+rcurities adju.trd to a constan�ma.turity of I yeAr,as made
<br /> �• ;;,,;,�t .�- " . " i'' nvailAble by the Federul Reserve Hoard.The most recent Index figure avuilable as oi�he+d�te�5 days before each
<br /> "���`"'�• Change Qnte is cnlled the"Current Index." �.�
<br /> � �.�.,`��;��•
<br /> ; �,��,��!� If the index is no lan�er aruilublu,the Note Holder will chon.e a new� index that ia�based upon comparable
<br /> �� informution.The Note Holder will give me notice at�hiti choice.
<br /> � � (C)Calculption of ChanRcs
<br /> �s.,- Befare euch Change Dat�.the Note Holder will culrulute my n�:w in�ere�t rat�by adding 2.750
<br /> percentA�e pointsl 2.7$0`K►to thc Curr�m Indc!�. Th�Not�NolJcr wiU then niuncl the rrsult of thiti uddition
<br /> �,�, to the ncurest one-eighth ut'�►ne percrntuge point(0.1'S�f►.Subjrrt t��the limit+stated in Section 4�DI below,this
<br /> r , rounded amount�vill be my ncw intere+t rut�•umil the ncxt Chungc Dute.
<br /> �'' � `�� ' �1• The Nate Holder will then detrrminr the umount of the monthl�•p•ryment that a��uld lx.ui'ficient to repuy
<br /> ,�1;,;.•, , .�.,.. '
<br /> ; =� ;�:_;, ', .,, . �`'``r.r the unpaid principal thut 1 nm cxpected to owe u1 thr Chung�Dutc in full��n thc Nuumty Dute ut my new interest
<br /> � �' `•'��'��''��:• • . rate in suhstuntiully rquiil puymrnt.. The result a1 thiti rulculation will bc:the ne��amount ot my monthly puy-
<br /> ' :;�::" .,�':
<br /> ::.;e5� �" ment �y
<br /> � '��"��+K'�� (p)Lirimits on lnterest Ratc C'hun�es �a^
<br /> ' . The interest ratr I um rcyuir�d Iu pay at thr fir,t Change Dutc will n�,t h� grcater thun 6.625 ry �r less
<br /> .•��� th�n 2.625 �/. Thcreul'trr,m��;tdju.tahlc intcrc+t ra�c��ill nc�er t►e inrrea�rJ or Jeciti:►.ed on am.ingle Chungr Date
<br /> ' by mcxe than TWO prnentuFe pc►inu�l�2.`��►from the ratr uf inter��t 1 ha�r Ixrn pay in,;ti�r the pre��ding 13 months.
<br /> ' �� ' ' iG;;S1!�;�* • � My inlere,� rate u•ill nr�•rr tx grcuter thnA 0.625 `i.��•hirh i+callcd thr"Muximum R:ne." :`'.�"
<br /> � ;. `1' ••:;rr.;.� , (EIE�'i'ectivepatcotChan�es f...:
<br /> •i;.'.•. . :r���u:�'� ... My nru• intcretit ratr ��•ill Ixa,me et'frrti�c on each('hanir Dat�. I ��ill pa� th�amoum ol' m} new• mon�hh•
<br /> ,� � � -�:•-�.; :,-�, �
<br /> , �,: : payment tnFinning un the 1'irst monthly payment dutr uit�r thr('hung� Du�r until the•rmount of my mnnthly k
<br /> ( � < < ,•� p•rymrnt changc.aguin. �s,:
<br /> � �. ' s'°'��, I�I Notke ut Chan�cs 'f� ,
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<br /> �,,: _ ,, The Notr H��Idrr w�itl Jeli�cr ur mail tu mc a noticr uf am �h���t�y in m� adju.tahl� intere.t rate und the � .
<br /> ,, : t'��� �, amaunt of my monthl�� paym�m hrfurc �h�• cfferti��r Jutr ut'an} chan1�. 1'hJ n���icr Nill inc{ude informution ,
<br /> ,..�; ' ;i :. reyuirrJ by la��•t��h� gi�cn nu and al�o thr tidc and telrphonr numt+er rf u�tr�an uh��will an.u•er uny qur.tion
<br /> + # 1 mny ha�•e rrg►�rdin�the n��ti�r. i
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<br /> . ;� . ;:.
<br /> ' . B.�IXED INTER�?RATE UPTIO�i
<br /> . _ . The Note pro��idc. liir�he B��rrua�r'ti„ption tu comert t'rom •rn adjuv�ablc intere.t rate with intrrrtit ratc �' �
<br /> ' � " .. - limits to a litc�l intcn.t rate.a.fi�U��«.:
<br /> - , 1. , ,. 5.FIXED INTER�'ST RATE C011�'ERtiIOV(WTIOV -
<br /> � � � IA1 Option to Comrrt to Fixed Itutc ,
<br /> .. � .
<br /> � „ I huvr u Com�er.i��n Optiun thut I ran c��rci.r unl�.. I am in Jcfault��r�hi.Sectiun S�A� ��ill nut prrmit
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<br /> �[� . me to Jo,o. 1'he ^Camrr.ii�n Optiun" i. my uptiun �u rumrrt th� intcr�.t rut�I am rryuired t�� pa�� h�� thi. Note
<br /> � r , i'rom an ndju+table rate w ith interc�t rrtc limit.k►tlk titeJ rutr ralrulu�cJ undcr Sr�ixm 5�6�Ixl��w.
<br /> �"• „ The run�•eniun can only t•r�,e plarr i,n u d��r�.�•pr�il'i.J h� thr Natc Hnlder.luring th�perioJ t+�ginnin�an
<br /> 1 e ., thr fir.t Change D•rte and ending an th.tifth('han�;e ba��. liarh Ja�c un which m� adju.tahlr intrre.� rair can
<br /> j; . rnmrrt to thr nea•tix��l rnte i.r:►Ikd ttk"C�m��niun Uat�...
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