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<br /> � . � ' ` ADlt15TABLE RATE��ttDER `. .
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<br /> , � � . (I Yeu 1�rslwu�2�1ia�Qste Caps-�'fsei itate Co�enist Opti�� --
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<br /> :.;� . TE�IS AD]USTA$�RA'I�RIO�Ii is made this3RD day of APR IL � :19 g� .and is `
<br /> . � iacuiparated into aad sba116e deemed fo�men�aad su�temeaEt the Mortgagt.DeeQ af'ijrast or SepuYty Deed
<br /> , . (tf�CC••Secudty Insmiment"}of tbe saa�e d�te give�6Y•tbe nndersigned(the•'8orrower")to securt Bonowcr's
<br /> =
<br /> �djiusia6(e R�te Niot�(the'•Nate"}to NORWE8T �IOR7GAt3E, INC., �A MINNIESO'iA ° '
<br /> � CORPORATION (the"Leader")o!'th�saine date and covariaS�Pt��Y � � .
<br /> _ � the Security Instrument and lacated aG� . , , ,
<br /> . � , 301 PF�RSANT DRIVE GRAND ISLAND, NE 68801 � � �
<br /> . [�'��r��l .... - � �
<br /> . �_THE NdiE CONTANiS PAOA�SIONS�ALLOWING f�OR CHANGES N TNE MrT'EREST RATE
<br /> � � ANO THE MONTNLY PAYYENT.THE NOTE 41QITS THE AMOUNT TNE BORROWER'S , ,
<br /> ° AOJU8TA8LE MREREST RATE CAN CHANGE AT ANY ONE TIMB AND THE MAItIMUY
<br /> RATE TNE BORRCWEH MUST PAY. 7HE NOTE AL,SO CONTAIM$ THE
<br /> OPTION TO CpNYERT THE AO�IUSTABI.E RATE YO A FlXED R/�T�.
<br /> �"�� , ADDi'�'IONAi.COVENANTS.In addition to the coveri�ats and agreements inade in the Security Instrument. �
<br /> - � Borrower and Lender further covenant and agree as follows: , , __
<br /> - - A.ADjUSTABI.E RATE AND MONTHI.Y PAYMENT CHANGFS =
<br /> '. Tt�e Nau provides far an initial interest rate ofs,625 °b•Th�Note�r.�vides We changes in the adjustable � =��-- _
<br /> inteiest rate and the montbty payments,as follows: � ��` ='-=�`-
<br />. . - , "� . -+c.�r?ati. .
<br /> - - +'-�F ,�.`'_'=="t.
<br /> �.�..
<br /> ` 4.ADJUSTABLE INTERFST RATE AND MONTBLY PAYMENT CHANGFS - �'rr-::,-::
<br /> _ �� _�:
<br /> _ ��-.~ (A?C6a�ge Dates s� >
<br /> �`' •�::�. .?,
<br /> r�:_
<br /> � The adjusta6le interest rate I wil!pay may change on the�rst d�y of MAY t�� • '==��'�?'� �
<br /> . r�.+� � '. :�:.aad on that day every lZth month thereafter. Bach date on which my adj�:sta.ble interes[rate cauld.change is ' '�.:,�,:<..r��-
<br /> , . .�:;.e, ,;::
<br /> - � �calieda?'C�Sa��e Date." ' . ��_::`;�-
<br /> ...� .,�,
<br /> � "�� (B)7'�ieladea ` ,; .�,-f.
<br /> _ .�` , , �`=-_-
<br /> �, � � ' gegii�r.ir��wi'th the first Change Date.my adjust�ble interes�ra.te witl�aee based on�an Index.The"Indea"is ��-
<br /> '. x #be weekty average yiela on United Staces Treasury securities ad;,r.�=ied ta ac��tant maturity of 1 yea�as made
<br /> '�-�`._
<br /> ' ' available by the Federaf neserve Baard.The most reeeat Index€'cg�e avai?a`sT:.as of the date 45 days�`ose each - {��;-=:
<br /> .. ,., ...,._.
<br /> , i�:, . Change Date is called the•`Current Index." � � = � .` -�:-_,
<br /> �.';; if the index is no longer available.the Note Hoider will c'r.•nose a new iadex that is�ased upon comparable �'�'�;`� `�•� �-
<br /> "� infvrmation.The Note Holder will give me notice of this choice. ' -"�'�'�" � -
<br /> . ,�, y,• ` _'
<br /> �`-�� (C)Calculatbn oiChanges . , '�.:�-
<br /> _ Befnre each Change Bate.the Note Holder wip catculate my new interest rnte by adding 2,7gV _ . .�,_
<br /> ` � �.� percentagepaiat5`�i .7'O� �J�o the Cunent Index. The Note Holder wiil then round the result of this addition - _i-.
<br /> �'� 'to the neasest one-eighth of ane percentage paint(0.125�10).Subject ta the limits stated in Section 4(D)betow,this . .;�_
<br />� -:�;���,4; :. • rounded ama'u�t�vill be rny netv interest rate until the ne�t Change Date. - . . _
<br /> - ; • � The Note Holder wiSl then determine the amount of�he monthly payment that would be suf�cient to repay �
<br /> ,.� �,: ` �he unpaid ptincipal th�.*B am expected to owe at tihs Change Date in fal!on the Maturity Date at my new interest _ � -_
<br /> �ate in substuntially equa)'payments.7'he result af this calculation will be the new amount of my mvnthly pay- .
<br /> �:-'�;? ' ment.
<br /> -"��`�{� � � (D)Llmita on leterest R�te C(�a�ges - - -
<br /> The interest rate 1 am required ta.pay at the first Change Date will not be grcater than 7�62� �Io ar tess �.
<br /> ' c,9ans.62� �/a.Theteafter.my adjtistabJe interest sate will never be incre�.sed or c�ecreased on any single Change Date � � : , ,
<br /> .�.'. ' �by more thanTWO percentage point(sr3. �/c).fror�s the rate o f interest 1 have b e en paying far t h e prece ding 1 2 m o n t h s. ;l t.i;��,:;,�. . •
<br /> '::,'"r:;�� - My interc��ate will never be great�r thahi.h2.°a �c.which is called the"�4aximum Ra�" � s';�;�'�;`' �.
<br /> �;::�t" (E)Ei�lective Date d Changes ,' .
<br /> i,�.%;.•
<br /> . � - My new interest rate will become effective on each Change Date. I wc!', �::-�the amount of my new monthly , ;,,,:;.,'
<br /> _-^=� • payment beginning an�i��first monthly payment datc aPtcr�he Change �<:�:until thc amount af my monthly ;i�F,°;�
<br /> . - Yt6. � 1�Ymentch�ngesa�in. ;,:.`��,
<br /> . -,-: .. IF/Natke ot Clwnges
<br />� ����'-':�` The l�ote Haldes will deliver ar e�ail to me�noticc of any ch�nges in �ny adjusta�L:interest rs�te�nd the
<br /> ' • M�:� nmount of my monthly paymcnt bef6re the effective date of uny ch�egi. The n�tice wi11 include infarmatie� , .
<br /> ���: requited by!aw ta be gitien me and atso the titic artd tetephune number c+f a persan whv will answrr s�ny yuesctan . ..
<br /> ' ,,"�.-•. 1 tnay have re�arding the natice. '
<br /> _,,...�,..,�_y� t
<br /> - ''".:-.-�� B.FlX�D II�ITERFST RA'I'E OPTION �
<br /> fL,�Y•l�„ 'S� � .
<br /> The Note provides for�he 8areawer's optian tv cnm�ert fram un acllustable interes�r�te with interest rate ;
<br /> - 'a�T•� �-' limits to a fixed intetest rate.uc follows: � �
<br /> .. P
<br /> � 5.FIXED INTERF•SI'KA'�E CUNV�It5iON OP'1'IUN , � �
<br /> _ _ .. _ __ _ ;.
<br /> .::..�:.�:,�M:s. •:,.,.. :
<br /> ' � , - ,: ;.�.�- - ,:r-: . (A)OptiontoCoavcslto�ixedliate . ,
<br /> .. ..� :.�-�.r;�. � f�� � . .
<br /> � , �.��-�f:-� 1 have a Conversinn�'lption tbat 1 can exercisr untess 1 am in defautf��r this 5ection 5(A►wil) not permit .
<br />� • -- me to dn su. The "Convetsinn Opt3nn'is my optinn to cnm•ert the interest rute 1 am reyuired tn pay by this Nate -
<br /> . ' ,y�.�, � from an irdjustable rnte with interest ratc limits to the fixed rate ralcnl�ted under 5ection Slg)belrnv ; , �
<br /> . .; �:� .
<br /> �� � =��-�'=r-�--= �4 . - '�eomtrsi�cata v�ty take pk.ece�st tfs�sels�.specl�ec!t�y�te Nrte Hc�fdee duri»g the.periaf he�ianine on .
<br /> - - - — - � -- -
<br />. ' • the ftst Change Uate and ending an the iiFth Change Date. Earh d:�te�m which my adjustable interrst rnte can j. '
<br /> � � ' conver�to the new fixed rate is calted the"Cunversion bate." ' "
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