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<br /> '� ° THIS AD3�3STABLE RATE RIbEA is mad�this day of --
<br /> _ . .. F i �'.• '�•i.�.. . � �t.. ..,a i �.t_.
<br /> "`` �°��.���,:, �::� ..4 • � ittcorporated into and staall 6e deemed to amead and suppiement the Mortgsge.Deed of Trust or Sccurity Dee� � �='.;: � .
<br /> `��;;��-.;._
<br /> (the"Security Instrumeni")of the same date given by the undersigned(the"Bonower")to secure Borrower's � ;,��_;;.ef�,��;`<�°.,;�. f _
<br />- ` ' Adj�stable Rate Nate(t4e"Note")to NOR4JEST MORT6A6E, IHC. �', �� ;�
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<br />_ __� y,^�;^;. (the"Lender")of the same date and covering the property descri6ed in �:, . ,�
<br /> `' '���' the Security Instrument and lacated at: -
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<br /> �+�-� �`�;'�;: � � ,. t�Ff+�1`iil� T1�� f�(�i3'�:'GI�..fti�Li�r''sT t?�tslf:� YHE NOTE 6tL'��'�f�t�i'�Rit�bs"TH'L ,.
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<br /> _ �{:��F�.;`��'�i:!;,: . .� O�EBW 70 CONVEi�T T�1�ADJUSYABLE 6iATE TO A FlXED itATE.
<br /> y. ADDI�'IONAL COdENAN3'S.In addition to the covenants and agreements made in the Security Instrument. ::A;�� ': '�:
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<br /> • Bono��er and Lender further covenant and agree as faftows: � : . ';:r,�t`
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<br /> ,�,;". - �;;; :�.:. � � .A..ADdITSTABLE RA���ENA 14�ONTDiLY PAYMEMT CNANGF.S , ,°.�,,.;' -
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<br /> ''`'t"��'""�;F. ' ' The Note provides for an,initial interest rate af 6.SOO�/c.Thc Notc prnvide.thc changec in t6e ttdjustabte • •
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<br /> � ' .. ' °' . interest rate and the montbly payments.as fnito�vs: , , '. , `. -
<br /> . • . � �.._ � �,;,` '�" :_.
<br /> -j;, �� , . , ' � 4.AIIJUSTA�LE INTE[t�i1'RA�'E AND MUNTlILY PAY;49i:NT 41#ANG!?S << � , , '' ;�`_�.
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<br /> . � The udjustabie interest rate t wifl pay may change on the first day nf M61'� . 19 95 • . :�:�'��`'
<br /> � - `' artd on that day every 12th inanth theceafter. Each date ort wbieh n�y adjustable interN�+e rate coald change is � ''�.�.�`�
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<br /> �„°`,"f'';':, catted a"Chan e Date.' ! �.:
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<br /> . (B)Th�[[udex � . � ;;� r
<br /> , Beginrning witb the�rst Change Date,my adjustab2e interest rate will be based on an Index.The"Index"is •`�%�' ;��'.;'
<br /> ,y the weekly average yield on United States Treasury securities adjusted to a canstant maturit of 1 ear,as made' '" � ''����r'
<br /> ;r Y Y �;;.. ;s'-: :;
<br /> � - : available by the Federul Reserve Board.The most recent Index_figure uvailable as of the date 45 days befor�e each :�;, ;_':�,' ^'! �
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<br /> ' Chan e Date is called the"Current Index." f ' � ''�'°��
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<br /> � If the index is no longer avaifabte.the Note Holder wi!I choose a new i¢�d�x that is based upon comparable , ,�:_ : r-;
<br /> ,. ic�f�rrt�ation.The Note Holder wi 1 I�ive me rtotice of tli is choice. '`�?., � ���`
<br /> .;:... .
<br /> �' . (C)C�IlcnQa4ion oP�tr:�.�ges � - � .
<br /> � Before eca:��Chan��.;�?%�:.,the A'���H�Ider k�:;;�cu�culate mg-newincerese race by adding 2•75fl �� ::�
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<br />_.,;,;s . • pe r c e n t ag e poe�GS f �•��'�lEb Tk:.�u,zent tndex. The Nos4.i�a_�.�r.vill�`�e�round the Tesult of this addition ,.,;• i :,. ,�. ,;-.r.
<br /> ��;,� '%��•��+�1��>� � r�t:�s nearest ane-eight�z.�s�c��:e percer.fa�e point(��•.t35�1,).SuL;::,�ra the tirnec�stated in Sectinn 4{D)betow.this �' `��"�;'
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<br /> =�;•� `�'��`t�p����'��'' � raa�.ded amoumt will be my�»ew interest rate untc�ba4�-:.xt Ch�n,��Date. ,. '';t'�'1�'���•,�. �'
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<br /> ;�:,;� • .�,.:; . . ; �'he Note Hotder wiU then decermine tfie am�;�s��.f th:e tr�_a_zly payment that woutd be sufficient ao repay r �� .
<br /> �.�r: � ;:.;.� : t3�anpaiu r��'ri;cipal that[am expected to awe at ti��:ange Da:�in fuU on the Maturity Date at my new interesE ,
<br /> " . rzr�in substarrtially equal payments. The result '.:;c.:;s calrulatian witl be the new amount of my monthly pay- �- � �•`�
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<br /> ?, � (D)Limits on lnterest Rate Changes �' � ' ,��'^ �: `
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<br /> - � . � The interest rate I am required te r:y at the firtit,Chunge Date will not be greater than e•��fl% or less ,•;` •.
<br /> . r .
<br /> . ' � than A.SC�O 90. Thereafter,my adj%:S:a�Ie interest rate will�eves br increased or decreated on any single Change Date � ' . ,
<br /> = r ' �. � • � by more than TWD percentage pointlsf!2.�/r)from the rate of inrc�*esrt have been paying for the preceding 12 months. ' .
<br /> � '�.� •- . My interest rate wiU n���'i�e greater thar�2.500��,which i�catl�d the"b���c�mum Rate." €"
<br /> ;. �:� ' " • � . (E)Eifecttve Date cvi���nges .
<br /> � � My new inicrestrat��w�ill become effective an each Chamic Date. 1 will pay the amount of my new monthly �- '
<br /> � ; y � payment begi»ning on the first manthly payment datc after st+e Change Date until thc amnunt of my monthly
<br /> �; � ��yment changes agaln.
<br /> ' � + �� (�)Nottce of Changes �;
<br /> The Note Holdet will deliver or mail to me a ne�dce of any chr�nges in my adJustuble interest rnte attd the �'
<br /> •• amount af my monthly payment before the ef'fectivr dute of uny change. The nntice will include infatmalion �� .
<br /> ` t�'�,��� ' , required by law to be given me and alsa the tlde and tetephone numher nf a per��m who wil)antwer any yuestion � • , �
<br /> S ' � • , '` I may have reg:�rding the natice. i . .
<br /> I:-,: � B.FIXED lNTERFSf RATE UP7'[UN �
<br />- � `;•� : .� The Ntute provides for thc Borrower y aptinn to convert fram an adjustable interest rate «�ith interest rate ;
<br /> ,. �'° � � . � limits ta a fized intenest rate.as fallo�vti: � � •
<br /> � < !,,.
<br /> ���' ,s.. • :' ; . . 5.FIX�ll INTERESf RAT�CUNVER510N OP1'ION i .
<br /> �� ' ' � - � ' - (A)Option to Comert to Fixed Rate �
<br /> „ ,. � �
<br /> � ' �.<` � . ,.'.,,�^`.�� I have a Conversion Optlon that 1 can exerc;se u�i.ss i�rrti in default a�this 5ectian 5�A)w a9�n;�t permic
<br /> �.`s.: � ,� �r�� � . . irie to do so.The "Conversion Optic�n' is my opiio�s ta r.r��•era t'�: i�terest rate 1 am req�'ss�c�ta pa� b� this tio*.e
<br /> � • � !�� � � ,"�''- " . �tom aut adjustuble rate w;th interest r��L�i�niis tn th:fixed rat:a:Icui�t�r)un�er Sectian 5!B�b.}��+ �,;, .,
<br /> ,_�;,`�.�°;���� �•F ` ' • ..The r�;��tsEon cz,.:z�fly take place on a da*.e�sf�p.eifiec!b'y th�'.Ve.se�-i��s�e�`de�ring tt,�pe{rind.be�'�r.r.drg arj . "`''
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<br /> rr , � '' t�ic��;=�;�:���te a;,3 cnding on she�ftEe C}�:.:g�i?a.e.Ea�t�._�� . �r��y<�y t<h e ir�t_- n�rh!�cxr� •
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<br /> ! i � �;,jl! ' •. ..,.�`�' y�( �.C��iIYG�a E�D�.tP,:r�ew fixed rate is called the'•Convennon tY�te." � �
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