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<br /> --�-- ----�.-� 93-�o�i F�-3���-�
<br /> �363321
<br /> ADJUSTABL� RATE RIDER
<br /> _ --- (1 Y�r'tY�asp1'Y��dtnc-Hutt C�ps.•.Mlx�d R�Caav�rsba OplioN) _
<br /> . THIS ADJU5TAHL� ItA7'� RID[3R is muwta thi� 1lSrt� �uY�� NOVEMEER . 19 93 .and is
<br /> incor�wr+�ted intu and,hull be dremed ro untrnd und supp'1�nh»t ihr MortguYe, Decd of Truct or 5ecurity Ueed
<br /> Ithe"Security Inxtrument"1 c�f thc aumo data given.by the utMMrKif;qt�llthe "gurrower")to sccure BorrowePs
<br /> ' Adjustybir Ratc Note Ithe "Nate"1 to NqRW�ST MK3iZTtiACiEz, INC• . A MINNE80TA
<br /> -��_-- --� --.
<br /> - CORppf�pT IpN Itfio "Lendor")af thp yxata�l�►ta+�nJ cuverinY the pruperty dcscribed n
<br /> _ the Security Instrument and lacated At:
<br /> --- — 2216 WEST i8T 87REET GFiAND ISI.AND, NB 6HH43
<br /> � [Pt�rty Ikid�e.sc]
<br /> TNE NOTE CONTAIN$PRQVISION8 ALLOWING FOR CHANQES IN THE INTEREST RATE
<br /> AND TNE MONTHLY PAYMENT. THB NOTE �IMITS TH� AIAOUNT THE 80RROWER'S
<br /> ADJUSTABLH INTEREST RATE CAN CHANGE AT I1MY ONE TIM� AND THE MAXIIIAUM
<br /> — RATE THE BORROWER MUST PAY. Ti#E HG�TE AL30 CONTAINS THE
<br /> - OPTION TO CONVFAT TNE ADJU8TABLE RAY�e TO A FIXED RA7E.
<br /> - ADDITIONAL COVENANTS.In addition to�ha cati�anunts and ugreements made in the Securiry Instrument.
<br /> t: ,�,• Borrower and Lender further crnenAnt und ugree as fallc►w�:
<br /> .f.r,n�+;..ti;;�ti;:F,� A.ADJUSTABL�RATE AND MONTHLY PAYhtENTCH.�NGES �
<br /> �';° The Note provides for an initial intatest rute of 4.734`�•The Note provides the chAnges in the udjustable
<br /> -- �;:� iaterest rate and the monthly payments,us f�llows:
<br /> ,:�`,��_� � 4.ADJUSTABLE 1NT�REST itATE AND MONTHLY PAYMR�NT CHANGES
<br />: L,.; t,:�,.r;;.;,-•�• (A)Change Dates
<br /> _ .y,a✓�",. '' The adjustable interest race 1 will pny muy chunge on.thn first duy of DECEMBER • �y 94 • -
<br />_ - , �':;:;':�. and on that day every I�th month thereufter. Euch,dt�ta on which my udjustable interest rate could change is -
<br />,-;;. :
<br /> -_+���� __ , called u"Chan�ee Rate."
<br /> �' S"�'`�`���� (B)Taeladcx'
<br /> �� Beginning w•ith the first Chunge D�t�.m��udju�tuble interest rate will be ba�ed on an[ndex.The"lndex"is
<br /> '��..��"�. �,,;, - -
<br /> i�,� ;ti the weekly nveruge yield an United State•'ilreusurv�ecurities adjusted to a constant maturity of 1 year, as made
<br /> 'tT.�".��,�l.r,- ', �
<br /> ,,.,,.,. ,:...,.,.•. available by the Federal Reserve Board.The most recent Index figure available as of the dute 45 duys before euch
<br /> ��'��"`- ;,�':`�� • �= Chun�c Date is called the"Current Index." j
<br /> "a0�1Y'.v'�•,._. .,
<br /> . ,�.;� �.:• : �''..;'' If the index is no fanger a�•aiiai►I��,t�e Noic HolJer will choosc a ne�ti� index thut is baced i��+on c�m�arnble =,
<br /> '�'r�;�r=�;;:, .-;;��'� ' information.The Note H<►Ider will givr me notice af this choice.
<br /> ` �•�•=' • ••� ' (C)CalculAtion of ChanRes
<br />-� �` ' """`- Before each Change Date. the ttiote Hotder will culculate my nrw interext rate by udding 2.750
<br />:-�� ,.�i,:.:�.: �.:.. -
<br /> �. �•<<:'' percencage points( 2.7gp�k 1 tn the Currrnt Index. The Note Holder will then mund the re�ult of this addition
<br /> ,�► •,�.;.
<br />� ���' �,� to the nearest one-eighth of one per�:entage point 1�.I?S''k). Subje�;to thc limits titated in Section 4(D1 below.this -
<br /> �, rounded umount will be m new interetit�•Ate until thc next Change Datc.
<br /> ':�^*� ,,��,• y
<br /> r, ��i-"':-�`�� - 'Che Note Holder will then J�trrmine the um��unt�f thr monthly p�yment that wouW be sufficient to repay �
<br /> - '��':�}'' ''° the unpaid principal that I um experted to owe at thc Changc Date in full on the Maturity Date at my new•interest .
<br /> - ��. . :., ..:.�.�. . ..
<br /> '�y;'''"''.;'�';; rate in substantially eyuu{ pa�•mrnts. Tiir result uf this culculution will be che new� umount af my manthly pay- �
<br /> - �11��"y��.
<br />_ ` '��:��.,. ,, �'- mcnt.
<br /> _ ,'�;;n:':. •.:. (D)Limits on Interest Ratc ChanRes -
<br /> �. �" `�'' ' The interest rute [am rcyuired to pay at the fir�t Change Date will nut be grrater than 6.750`� or Iess �
<br /> �� • ;;�;�.r;;_, than 2.75p ''k. Th4reafter.my adjustable interr�t rate will neeer tx increa.ed or drereused on any single Change Date }-
<br /> .'�'�`•j'�' by more than TWO p��nts�:pointl�)t 2;!r)from the rate of interest I ha�•c tkcn paying for the preceding l2�tanths.
<br />— t�'��'"�
<br /> � - "ti'�� My interest rate w�ill rx:«:r be grc3trr thaKU.750`�. Which is called the"Marimum Rute."
<br /> r��'" ���� ,� (E)E[fective Ik�te ai CtumRes _
<br /> .• ' �'�` . My new• interert rate a•ill bernme effective on each Change pate. 1 will pa}� the amuunt of my new monthly
<br /> �. ��:`,. ;
<br /> �° ��%tFr;��� : � pay�nent beginning on the+first monthly payment date after thc Change Date unti I the amaunt of my mnnthly -
<br /> .�:'—' '�-r.'`,r'`�'" PaYment changes ugain.
<br /> �t� "'""" lF)Nutice of Clwn�
<br /> �� _,:�:� Thc Note Holder wilt deliver or ma�i to me a noticc��f any rhange+ in my aJju.table int�rest rate and the
<br /> --� amount of my montfily �yment bcforc the cff�ctive dutc of uny rhange. The notice will include information �_
<br /> •y required by luw to b�e gi�vn mr and altio thc tiNc and tclephom numbcr of u pen�n who will answer any yur�tion
<br /> --�� I tnay have regarding th:catin:. , , •; _
<br /> B.FIXED INTERESt RATE OPTION =
<br /> - The Note providtK for the Borrowor�option to convert from un uJjustable interest rate with imrrest rutr '-
<br /> limits w a fixed interc�t r.�tr.as fol{aws:
<br /> - S.FiXED IN7'Eltft5T Ra►7'E CONVERStOiV Oi'TION
<br /> (A)Optio�ta Cnm�at W Flxed R�te _
<br /> 1 have a Convorston Option that I can exercire unles, I�m in default or this Section 5(A)will not prrmit `
<br /> me to do so. TM: "CoarLnion Optan" is my option to com•crt the interest r.�te I;un rcquired to pay by this Notc
<br /> fram an adjustabie raua�with interest rate limits to tho fixai ratt c�{culycxi under Section 5(B)bebw.
<br /> The conv�rsiaa can only take place on a clate(s)specified by the Note Holder during the pericd beginning on
<br /> the first Chang�r Datc and ending on the fifth Change Date.�ach dat�on which my adjustable interest rate cin
<br /> aouvert to td�nNw fiud rate is calkd the"Con��ersaa Qua..
<br /> w��nsr�►r�t�w�rrwut�o�uswaE�aioe�-awruwa-sMp.w�+r� � �• �+•�-r.rwi.w.u�w�ww�u�.�►a.ruuM _
<br /> NMFt I01/tA00 �r'R`!�•:r'R"�
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