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<br /> • ��e�rsa� � rMi►K-��.t a.� .
<br /> � � ADJUfiTAHLE RATE R1DER g� ����
<br /> (1 Yrar'lYs��ary�lyde�r—ftate C��-,Iill�ed Rate Co�ven{oa Opt1oM) � `'
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<br /> ` THIS ADIUSTABLE RATE RIDBR is made thic 29'TH dayof 88PT8l�8HR ,�g 9� �a�f is
<br /> ' i�xorporated into And shall be dcemed to amend�nd cupplement the Martgage,Deed af 7Yust ar Securlty Deed , •
<br /> ;� . pho"Securiry InctrumenC')of the sAme date ivrn�by the undersi�ned(the '•Ba�rawer"!�ta securo Bormwer'�
<br /> Ad ustable Rate Note (�he'•Note")to NOR�ST lIORTOAOB• INC.� A MIMMBSOTA
<br /> C�RPORATtON lthe "Lender"�af tho camd dwto aqd coverinQ the praperty deacribqd ia �
<br /> the Security lnstrument and located nt: ;
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<br /> ' �� . : �`�������� : . 221? VIKIN� ROAQ aRAND I8LAND. KB 69808
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<br /> ` r��`;`�:w�,- (Property�uWressJ
<br /> � ' '�`��� THE NOTE CONTAINB PROVISIONS AI.1.0'WIND FOR CHANO�81N THE INTEREST RATE
<br /> �".;�G:L:t'�ti''I�,.�
<br /> ;*'��'''''''��w•� � ' �' AND THE�AONTMI.Y PAYfd1ENT.THE NOTE LIw11T8 TH�A�AOUNT TM6 BORROWER'S
<br /> ��-•t�• ADJU8TA6L.81NTEREST RATE CAN QHANGE AT ANY ONE T1111H ANL1 THE �IIAXIMU�A
<br /> '` �' ��-''�f' RATE THE BORROWER MUST PAY. TH� NOTE ALSO CONTAIN8 THE
<br /> f.:'�, � . •.r,�;.. . .
<br /> t , ���,G,�,��,}t;:�:�'S''. OPTION TO CONVERTTHE ADJU8TABL�RATE TO A FIXED RAT@.
<br />, � ' .l�'..:,,;7�,;,,'.;;,'''`._'�'.r'1�
<br /> �, ,,,;�,._�.. • • " ADDITIONAI.COVENANTS.InudditiontathecovonantsandagreementsmadeintheSecurityl�ct�umont.
<br /> �� �. '' .,;;;%;;�•:,'�''. � 'r, Borrawer�nd Lender fu�ther covenant and agree ax f�llaws:
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<br /> 't'� �� ' �,'�� ��, �' A.ADJUSTABLERAT�ANDMONTHLYPAYM�NTCNANG�S
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<br /> .,. The Note pruvides for an initial interest rate of 4.875�,,The Note pravides the changes ie the adjustable
<br /> ,., ' , � interest�nte And the manihly payments,as follows:
<br /> ,+�
<br /> . ' I M1� 1 4.ADJUSTABLE IN7'CREST RATE AND MONTIfLY PAYMENT CHANGES
<br /> � � ' • � •. tt.�. (A)Cd�nge DAtes
<br /> ;•� The AdJus�Able intarect rute 1 wil I pay may chAnge on the first dny of OCTOBER , 19 94 .
<br /> " � .`'�• � � and nn that duy evary 12th month thereafter. Eaoh date on whiah my adjustuble interest rate cauld change is
<br /> '�:. ' ' culled n"Change qate."
<br /> _- ., - (B)The lndex
<br /> ' � Beginning with thc first Changa Dute, my adju�table interest rnte wil l be bused on an Index.The"Index"is
<br /> ' ' the weekly nveruge yield on UniteJ State�Treu,ury securitie+adjusted to u constnnt mnturity af I yeur,as mude
<br /> �,;;;:,,�'� nvAiluble by the Federal Rcyerve Bourd.The mo�i rccent Index figure uvailahle ns oP the date 4S dayc before each
<br /> � � :���:�•; ' Change Date is culled the"Current 1 ndex." ..
<br /> ' ' � ; If the index i�no IanFe�uvailable,�he Note Holder wiU choose u new index thot is bused upon compuruble �r'•
<br /> ' ..t,"',f.' ,, �
<br /> ..,. „ , infarmation.The Notr Holder wil I gi�•e mc notice�f thiti choice.
<br /> 'j., I � ° IC)Calculatfon of Chen�es 2.?50
<br /> '::���;t,:.
<br /> '��� • •".•�,��, Before curh Chun�e pute. �he Note Hulder will culculute my ncwinterest rute by nddin�
<br /> . � ;?:;: perc:entagc point,l 2•�50 !, �w�h�Curren� InJes. Thc Nmr HolJer will then round the result of this Addition
<br /> �•s � '�,�;,; • to the nenrc.t nnr-ei�:hlh oP onr prr�rntugc pnint IU.1�5�/,�. Subjert to thc limitti�tnted in Section 4lDl below.this
<br /> ' � „�. munded umount will t►c my nca-intcr«�rutr until thr nrx[Chunge Date.
<br /> � • ,;;:. Thc Notc Holder will then dete�rninr thr umuunt ��I thc monthlv pu�•mrnt Ihut would be +ufficient to repay
<br /> � °�' ':'':;I;,I the unpaid principul that 1 um c�prctrd to o«�r at the Chung�Dat� in full��n the Maiurity Uutc u�my new interext :�•�;
<br /> , �..�:''�'� .;.
<br /> •' �� rate in +uh.tuntiully eyual puymenl.. The re.uU��t'thi�calrulati�n�a ifl t+�the nrw umaunt af my monthly puy- ���•
<br /> .� ' � ment. �ti
<br /> •`��%'''��'��� •� ,',�' ID)I.imitc on Intcrest Ralc l'hs�n�cs
<br /> :,,: '� � ! 6.6?S� -
<br /> ..: . � The interc,t rute I am required tc.p:i� ui thr fir•t C'han,:e 1�at���•ill na�hc gre����r th:in 4 or le�+ -:�
<br /> ;,;;;`;' Ihan 2.8?5 �,;. Thercaftrr.m�uJju,taMc intcre,t rate��ill nc<<n c�increased�r drerea.eJ on am�.im�k Changr Dat� ..
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<br /> � h��morc�hun TWO �x rce�ilag�{w,im�,i 1 2•':►fri�m th�rat�ut'in�rm,�1 ha�e Men pa�ing li�r the prrreding 1=mc�nth.. ��F.•`�
<br /> •.`ilt�,�,�"11 j �ty intcrc�t ru�r u�ill ac�er fx gr�atrr tha��0.875�f. ahich i,�ulle�l th�"\lurimum Rate." f�j:'
<br /> . . ' .,��`�" IEI Effecti�e Ih�tc of('han�es �,�.�
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<br /> , �,,:,;� My ne��� imrrr�t ra�c Hill tkrnmr �ffrrti�c�,n eanc�'han�e [�ate. 1 ��ill pa� the am„um of my nr��• munthly � :
<br /> � . , . puymrnt heginning�,n th� fir.t mnnthl} ra�ment d:uc uftrr thc Chang� Dut�until thc :►mc,unt ��f my monthly �
<br /> • :. ' paynkm rhungr.ugain. `���''�
<br /> t ' � �' IFIN�►ticcof('haoa};eti `{`�I
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<br /> Th� Nc.te H�,Idrr ��ill�hli��r ��r m:iil t�, m�� a noure„f:in� �h;uigc, in m� :�diu�tahlc int�rc,t ratr anJ thc �`�.�
<br /> � � • • . am�un� ��f m} m��nthl� ra�nieni hcl'�,r. thr �•ficrti��• datc of an� rhanLe. 7'h� n��ti.•r ��ill includr infnrmati�n � .':�;
<br /> , .� � reyuirrd h� I:iu� tu hr ri�en me:u�J:�hn the titic:md Irl�ph.m�nwnhrr��t'a per.�,n���h�� ��iU an.«er am yue,�ion
<br /> ,�"`� I ntay ha�r rcgarding thr n++u�c. �
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<br /> ,,.,:�,;;'; � B.FIKEU INTERF:ST RA'1'F:OP'1'N➢A
<br /> �`1':• .• Thr Nutr pru�id�r f��r thr K.�rr��urr'.n�ei�m in.�,m�rt 1'mm an aJju,tablr int��re.t race with interr,� rutr
<br /> ��.:,, �
<br /> Y;� , I limilti toa ti�cd iot�rc��ta��. a, b�lf•���..
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<br /> � .' � g.FIXEI)yN'I'N:ItES'f IiA'1'F.('ON1'EKtiIO`B�PTIUN ,
<br /> �
<br /> �, � IA1 Optinn to Com�crt to H'ixed Ratc
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<br /> !� . 1 hace a('umcr.iun Op�iun that I �:u�c�rrci.r unlc.. I ;un in Jrfaull ��r �hi.tircti��n S�,�i aill n„t permil
<br /> 7 i nx ta d�►,a. Thr "Cun�rr.ion Ortinn" i. m� ��pu��n t�� r„mrrt thr intrrc,l rat� I am r.��uirr� tu p:n h� �hi.Nutr
<br /> ' � fram un uJ,ju,taMr ra�e��ith intrn.t ra�r hmit.h►thr fi�cJ ra��ral�•ul:ucJ und�r tircu��n Si lii Fk•Irn�.
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<br /> � Thr r��mcr.ion can unl� talc pL•�re�,n a Jairi.�.p��il'��J h� thr :�utr HuIJ�r durin�: the ��rn��d hr�;imm��un
<br /> thr fir.1('han�c vate and en�ing un tlic fil�h ('hangr 1)at�. liarh J;u.��n ahirh m� aJ_ju•�at+le imrrr.� ratr ran
<br /> i romcrt tu thc rk�� titcJ rutr i.�allyd thr"Ci�mer�H�n l)atr...
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<br /> � � IAULTISTATECONVHRTIBLEADJUSTwBIERATERIOER—ARMPLAN51—�•�'�+f.�����, tYxrTnasurylnd�x•FanMeM��UrNlorm�natnyn�ntFam�t1�1�9
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