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<br /> =� '+�F::``�����:`:`��.�'�_:;:`�=� THE NOTE C0IVTAINS piiDY1SI0NS ALLOWl�tO FOA_CNQNGES tN THE INTEi�E�T RATI
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<br /> ' `-:.��:.' .,.�,;u.:��;x�.. A191D'THE MONiHLY PAYM�NT.7'ttE�NOTE t1�4Ai�$TA1E AMOUNT?HE BORRG '
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<br /> �.•':�'r�=':=°^t'�. � -- AD�iU57ABEE IMi�REST ii�1'i'E CAN CHANGE AT�l11�V Ol1i8 TIM�AND TEQ@ MAXi�UM .
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<br />��. :�:->;`�::.;;��-,`.:;�:�;,_:: �iiA'tE TH�.80AROWER MtJST WAY.THE NOTE l�It,SO�1iiTAfN8 TH�Oi�CNTO CONVERT -- . -- -
<br /> ����<:- :s=.�:'���;�;;_:�=�� THE ADJUSTABlE RA7'E TO I!FI�fE�2 RATE. - ... -. .- - -. . .
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<br /> _ �,� .. A,pbd�'Q4DNA/.COVF.NANTS.In sdditton to the covenants and agreenttnls made in tAs Sscurity tasuumtat.
<br /> _ �`' :�-��Y��;°�t j"��� . Sorrower ati��:ender twther covenant�t agcee as[oltowx . _ �
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<br /> � ��.�,�AflJUSTABLE RA7E AND MON'�1H�•Y Pdt�36NT CMNG�S �-
<br /> :�, ` . .:.; . , _ � � � '�he Nate provtdes for an fnitIsi tne�est tate�ff":: . d.0000 �,.'[tse�cc.�icuvT�es�,s�azt8es :... _
<br /> .',;4:: '{`'`�°� • ;i�e�t�he��is'ta�le interest rate and th��ohtl�iY PaX�Eala,aa foIIows: . ��'` �'' �, i-
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<br /> ` "�� � � �:.AitlU�7!'A��IN'I'E�ffiT 13A'��9.+�1A MONTHLY PAXt��1T CHANGES -
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<br /> S� ��(p�/s��l � `�...i \.. �. . ��•�Q��� _-, - _' � '• a , �
<br /> ��?��; ;d�ust��le interest rate t w��Y may.+c�oacr�s�on the itrst day of R�Q�er ,�
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<br /> _�� '`',3,�°"�`� ���' ��19 94 ;end on that day every iZ��il'vnsh the�a�e�:Each tEa�an which my adJustabl�ccr�rest Tate coWd chang��� _
<br />_>� i' ... �` ,'•�- is calied a••ehange Date." • . . , � �
<br /> �r� 4� ��_t''�t,••�.:��� l8}7'ba ladac .' :, ' . . �>;.:; ' : .: . . :
<br /> � . ' �``''''•�_`�'� � � B�ginning witb the[irst Change Date,my adj�e intetest rate wiD be based on an lndu.The"ta�t"ts the
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<br /> � - ��;: ,��,.. ';.;=�,�'. weekiy average yteld on Unifed States Trtasu�y secudttes adjusted to e constant matudty of 1 year.as made swllsble
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<br /> ,,,; by the Federal Resenrc 8oard.'i'hc most ncent index iigurc avallable as o!the date 45 days be[ore each Change Date
<br /> ' ?' ' �� is callsd the"Current Index."
<br /> ; ? . , - . 1[the ladex is no longer avaifable,the Note Hotder will ahoosa e new index which ts based upon comp�rable
<br /> � intotmatlon.The Note Holder wtp give me noitce ot thts cho[ce.
<br /> ; j " .' • � (�Catcutatton ot Changes
<br /> .I , • � � 8efore each Change Qate.the Note Hotder wiil calculate my new tnterest rate by addtng
<br /> � � ': � Y.7500 perantage pointa( 4.7500 �)to the Curreat 1ada�.
<br /> � ; , The Note Hotdcr w111 thcn cound tbe result of this addttion to the nearat onaeighth ot one peraat�ge potnt(01?J1i). -
<br /> 1 ,: � _ , Subject to the 1lmits stated in Se�tton 4(D)betow.this�ounded amount will be my new Intereat�ate untit the aact
<br /> : � � � Change Date.
<br /> � i �� . " � The Note Hotder w1p thea determine the artount of the monthty payment that woutd be auttident to repU►the
<br /> ': ; � � unpatd principal that 1 am e�cpected to owe at the Change Oate In fuU on the maturity dats at my aew(ntecest rate
<br /> � • • ia substantiaily cqual payments. The resuit of this calculatioa will ba the new amount oi my monthly psyaten�
<br /> :. +� � . (D) Idmtts or iatereat RAte Changes 6.Q000 �
<br /> - �` � The interest rate 1 am r uired to pay at the first Change Oate will not be greattr than •
<br /> �' ' � c�tcss than 2•00� �Yn.The�eatter.my sdjustabte totereat�ate will rtever be increased or deereased
<br />- � ' ' , o n a n y s i n g t e C h a n g e D a t e b y more than two percentage potnts(2.04ro)from lh 1 0 t 0 0 0 0 tuest 1 have 6een payiag �
<br /> '�-� " ��� �':� ., . �or the preceding 12 months.My interest rate wttt neve�be greater than �.w h tc h I s ca l l e d -
<br /> ., .-. l`
<br /> �' ; :,;,.,,.��° � ,`` the"Maximum Rate•'.
<br /> ' L;;i, ,�: '�:ti,.,:_. � (E) Elfeciive Oate ot Chan�es
<br /> `� My new interest tate will beco�ne e€[ective on each Cl�ange Datc I will pay tlie amount of my new monthfy paymrn�
<br /> ;�:'� � beginning on che first maaethly payment date aQer the Change Date untit the amount oi my�rtflnthly paymeM ch�ng�.s
<br /> ..�._ . �:..,,•,. � � again. .
<br /> � i�: � `�"' � t}7 Not[ce of Cbraa� �
<br /> '` The Note Holder wi.�deliver or mail to me a nottce of any changes tn my adjuatable inte�est rate and the amount
<br /> ; {�� �' • ' vf my monihiy payment before the effective date of any change.The nolice wiil inciude informa�ton required by faw
<br />-. ` '�� � to be given me and also the titte aad tetephone num6er of a person who will answer any questlon 1 may have regarding �
<br /> _ �'; t. �
<br /> �,�.� � ��� the nuttce.
<br />-.s;: ' ��`�,��.,..`�'�` E�. FIXED INTEItFSi[tATE OPTION ;
<br />;���; t� �, . � . The Ptate provtdes fct the Hoao�ver's option to conven from an adjwtabte interest rate with interesl tat�limits �'
<br /> - •:�; eo e r��c�c��st �ue,�ro��oWS: }
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<br /> ' � `� S. FIHQIA QN7ERF.S'P 1�A7'E CONVERSION OPTION �
<br /> .�_�'�; �' . �A) Qptton to�au�ert to Fixed Rste �
<br /> � , t has��a Conversian Opilon that i ean acerclse untess 1 acn in default or this Sectton S(A�wiii�net permit me
<br /> ��•�° , • _�� to do ao.The"Converston Opttvn"ts my op8on to convert the inte�est rate 1 am rcqulred to pay by this Note from �
<br /> - ��. �.�:'.� ,� an adjusteUle rate wtth interest rate limtts to the tixed rate ealculated under Sectton S(B)belov+. ;
<br /> �,:' S_ .. . • .. .`.
<br /> �_ � : The convetsion cen onty take plaa on a date(s)speci(ied by the Note Holder duting the period beginning on k
<br /> `�;.;;�:..'�_�� �he Rrs�Change Oate and ending on the ti[th Change Date.Each date on whtch my adjustabt�inte�est rate ean conven j
<br /> rT . to the new(iaed tate ts eaited the"(.bnvrrs�on Iiate.'• ,
<br /> . •: � �' �� MUI.Tl9TATB AOJU9TA8LE NA?8 NDE41—ARM PtAN 87—Stngte Femity—fannN Ma�IlNfmm tnstnanent� ionn 81/8 1�18� �
<br /> ��8t9A b»„ viuvu�naar�ow�a•n�nl�nroo•�aaae»�a� �
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