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<br /> - , ADJUSTABLE RATE RIDER
<br /> � • (f-MoMi�T-EW.Weelc�Aretbn Avera�e(Invam�ot)-Rst�Csps) ►93" 1�.��a'�
<br /> —' _ TEiLS ADNSTABf.L'RA'tL'RIDER fs mzdc tbts iTl� day of �. 1993 ,ead L�lcc�tporsscd taso zad ct�lt .
<br /> --- -- bc deea�ed to�a�a�d wd wppkmeat tho Mort j�je,Deed of 7hat or SecurIty Deed(ibe"Security Iqsttumeat")of tba�rame date S[vea by
<br /> ;:-,— �,.. .. ih�uodenisued(iLe"Bonowe�')totecure Botrowec'a AdjuWabk Rate Note(the"Note")to
<br /> - �:rSE'�.s O�'.UL �1L IL�'1C�1[� �TIQT -
<br /> _ (tba"I�aKkX')of tho same dua aad covuia j tba prnpetcy descdbed in ti�e Su:wity Iasaiwieat aod loated u:
<br /> � �' ;;s'�`y�`�; 1717 8 Il+�3IlLTBr C�tPitD I�ilt�D, I�E 69803
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<br /> - - �::,;»;Jr�,. ," THE NOTE CONTAINS PROVISIONS ALIAWINC3 FOR CHAN�ES IN THE INTEREST iiATE AND THE
<br /> ���•,�,; MONTHLY PAYMENT. THE NOTE UMIT'S THE AMOUNT THE BORROWER'S INTEREST RATE CAN
<br /> _—- ��tr��*k�i-*•. CHANOE AT ANY ONE TIME ANO THE MAXIMUM RATE THE gORROWER MUST PAY.
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<br /> �# 1��'�y •$� ,�.:`.*� ADDT!'IONAL COVFNANTS.!n addidao to tbe coveorats�od a=reements m�de 1n tha Security larltuown4 B�xwww�ad L�e�bt -
<br />__�i fe��llli ,•�}�f tii�•
<br /> ��;:�.:Pr•�e.�.- �:�: futtber covetuat uid a�ree as follow�:
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<br /> �'��a�?'`•;';''�, A. 1(V7FRFST RA'[E AND MONTHLY pAYMFNT CHAN�ES
<br /> --. �+g�;�:��t•'''.:'•' The nate Ex+ovides far an Wtial Intctrst rate of �.700 %.7fio Note pn�vider fcx clun jo+�in iho Intere�l
<br /> �K...._._.__. , ,���.� rate aad the monthlY MY�nu,�a follavv�:
<br /> .,.. '_:., . .:::::_'�! 4. IM'EREST EtA'!E AND MONTHLY RAYMEN'1'CHANC3ES
<br /> � � (A) Clud�e Dates
<br /> � ' The interest nte 1 wiU p�y may chanae on the fitst d�y of �� ,19 9� �a�W on ilut day evory 6t6 moatb
<br /> I Wereafter.Euh dau ott which my interest nu could ctua�e ls called a"Chantc Date."
<br /> � � (B) The index
<br /> • : f Bcglndiag with We first chaaga D�te,my intcnst rato will be bascd on an Index.'Ibe"Iadex"is the weekly auotion average
<br /> � . .� (investmeat)oa 6-moath treasuty bilis.as made avsilabla by ihe Fcd�ral Reserve Bw�rd.Tbo most t+eceat Index ti�ure available as of the
<br /> d ato 4 5 d ays b e fore eac h C h a nge Da t e i s c a l l e d t h e"C u t n n t l a d e x."
<br /> • If the index is no loager available,tbe Note Holder wfll choase a aew iudez whlc6 is based upon campuabla infotmidon.The Note
<br />, � ' Holder will give me aotice of this choice.
<br /> (C) Calculadon of ChAnges � � � gQ�
<br /> -_- --.:._..-.-.:-:-- �efcx!�e�ch rh�nge Datc,the Notc Holde�will calculatemy dew intcrest raic by addinR percw�tage poinis( 3.375 '�)
<br /> ,s, .,' to the Current Index.'Ibc Note Holdcr wlll ibea round We rrsult of this additian ta the nwt+e.0 one-eig6th of one percentage poit►t
<br /> (0.1259�).Subject to the Wtnits stated in Secdon 4(D)bclow�this rounded�uaount wlll be my now interest rate uatil the aext C6mae Date.
<br /> The Note Holder w111 then dctcm►inc tht amount af thc monilily paymcnt thut would be sufficient to npay the unpaid pdncipal that I
<br /> ' xm expected to owe at tl�e Change Date in ful I oa the maturity datc at my new interest rate in substantidly equal payments.11�e result of
<br /> thls calculation will bc the new amount of my monthly payment.
<br /> (D) Llmits oa Inurest Rate Ch�nges
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<br /> �'`� 'Ibe inutest ratc I atn required to pay at thc r tst Change Date wiU not be greatcr than 5.450 9b or less thatt 3.950 �6.'it►ere-
<br /> � after,my iaterest ratc will ncver be lncre�sed or decreascd on any single Chansc D�tc by more that► 3/4 pctcentagepoints�.7501b)
<br /> from the rate of interest I havc bcen paying for the prcceding six months.My interest rate will never be greater tLnn 9.700 9i.
<br /> ' (E) EffecHve Date of Changes
<br /> . My new interest ratc will bccome effectivc on each Changc Date.l will pay the amount of my ncw monthly payrtsent begidning oa t6e
<br /> � first monthly payment date after the Chpnge Dat�until the amount of my monthly payment changes again.
<br /> (F�Nodce of Changcs
<br /> � The Note Holdcr will deliver or mail to mc a noticc of any chnt►ges in my interest rate and 1hc amount of my moathly payment beforc
<br /> 7 the effcctivedate of any change.'Il�c noticc will include Infottnation rcquired by law to bc glvcn me and also the titic at►d ulephotu �
<br /> , 1 number of a petson who wlll answcr s�ny que.+tinn I may have regarding the notice.
<br /> ..;�� i B. TRANSFER OF THE PROPERTY OR A BENEFICIAL IN'fEREST IN BORROWER
<br /> 1 , Uniform Covenant 17 of thc Sccuriry Insuumcnt is amcnded to rcad as follows: F� -
<br /> _'�'�� ' � j Transfer of the property or a beneficlal intcrest in borrower.If all or any part of thc propetty or uny interest in it is sold or trausfctrcd ' �
<br /> �� ^ � (or if a beneficial intemst in Borrowcr is sold or tr•uufetrcd and Borrower is not a naturnl penon)wlthout Lender's prlor wrltten consent, -
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<br /> i Lender may.at Its option,require immcdiatc payment in full of all sums secwed by this Securlty lnstrumcnt.L.cndcr also shall not excrcise ,
<br /> j•. " this option if:(a)Borrower cnLLSes to be submittcd to I.ender information requircd by L.cndcr to cvaluatc the intcnded traasferee as if A new :�,...
<br />_ �' .' loan were being made to the ttansfcrcc;and(b)I.ender reasonably determincs ihat Lcadcr's sccurIty will not be impaired by tha loan " '`
<br />_ � a.�sumpdon and that the dsk of a brc�ch of any covenant or agreement 1n this Security Instrument is acceptable to Lender. �f�,;
<br />_- . * To thc cxteat pemuttcd by applicablc law,Le�nder may charge a re�sonablc fce as a conditton to L.ender's cotuent to the loan . -
<br />- . assumption.Lender may elso requirc thc transfcrce to sign an assumption agreement that is acccptyble to Lender and that obligatca the ��
<br /> : *�,'_ ...ti. : ; uaatii-ferca to keep all the proml�s and ag[eements mude in the Note and in this Sccw�lty Inunttneut.Borrower will coatinuc to be � �
<br /> �,�_,_,�,�� obligated w�der tho Note and this Security insuurr►ent unleav I.ender relcases Borrower in writing. �°
<br /> ,�' '� `•'%*�• �����••'�• If Lender exercises the optton to require immediatc payment in fvll,Lcndcr shall givc Bocrower nouce of acceleratlon.The nodce
<br /> ='�� ���`�."� stWl provide�pedod of not less than 30 day�from the date the noticc is dclivered or mailed wlthin which Borrower muu pay all sum�
<br /> �.�". '° seeured by thts Security Inswroent.If Borrower fails to p,►y U�ese sums prior to the expirAtion of Wls pedod,Leader tnsy Wvoke any
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<br /> •7�..�..»iu.A 1w�l.i.C..�..�i�..Tw.�wu..�..�usitiv�nt fi��fh��rw�tirn nr rL.ms�ul nn R/xenw�r �._..
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<br /> _: u.�j •� : BY SIaNIIVO BEW W,Bottower accepn and agnes w the terms and covenu►ts contaittcd in thi.c Adjustable Ratc Rider. �:"��'
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<br /> ---,''�.a. MULTISTATE ADJUSTABLE RATE RIDHR-ARM 6-2-Sinql�Family-
<br /> -�- Fanni�M��/Fnddi�Mao Unfform Insuumont Fortn 311 1/3/86 EC-3033(REV 03/93�
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