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<br /> ? " MjUSTABLE RATE 1tIDER , .
<br /> `- - `. �• � � � . a Yaa�'I�au.ep IMea--wte cals—FJx�i�ae Ce�nio.u jtio.)�. -
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<br /> .:� �HIS ADJUS7ABGE RA7'E RiDER is m�de this itiTH�day of. .AP�l��: �. � � - �
<br /> - - -- ;ncorpcirated iuto and s6a11 bG�med ut unend an�supptement the Mortgiage,.Deed afTrost os Securtty Deed
<br /> (tbe••Secutity Instntmieae"k of ehe same date given by�tle iuidersigned(tbt"8onow�tr")ca secure 8orrower's ' . ------- ----
<br /> -
<br /> ludjw�table Rate Note(t6e"Nott")to NORWEST M�RTQABE, INC:, A-FIIIVI�SOTA . _
<br /> - ,---. �A�.��_ _ (tl�e'•I,ender••)of the s9me.date and covering tAe progerty described in
<br /> . tbt Security Iasuument an�ia:ated a� . . , � ` � - _��.i---- -
<br /> � � - -
<br /> � 70li 6RAND.AVEMJE 6RAN0 xSLiWDs 1� 6980!
<br /> . jptap�Ky Adaressj , _ _
<br /> . n��co�ra►N+s Pric��s+o�+s�u.�aw��Fon c�►r�c�s�TMe w�ESr R� � _ _—
<br /> AND THE MONTMLY PAYMENT.TNE NOTE LIWTS THE AM�lJNT THE 80RROWER'S = `. _
<br />_- . ApdUSTABLE iN'iEpESS RATE CAN CHANGE AT ANY ONE TIME AND THE YAl(iMUY __
<br /> � � RATE .THE 90R80WER MUST PAY. '[HE NOTE ALSO C�NTAfNS THE � �-__s
<br />�.`-'� p�TIOM.TO COl4VVERTTHE ADJUSTABLE RATE TQ A FiXED RATE.. : - -
<br /> ���_
<br /> _ l�:•--
<br />- � AQDiTIOp!F4L COVENANTS.In additiop totGe cnvenaau and agreements made in tbe Security Instrument. �z
<br /> _ Bonower and t e`nder farthcr covepaat and agree as foltows: ��'��:--
<br /> - �`;��':z=�._
<br /> . �, . —=_-
<br /> A.ADJUSTAHLE BATE AND 1ViaNTffi.Y FAlfMEl�IT CBANGES � - ' �_'—=
<br /> r•. �--�--
<br /> _ - Ti�e Note provides far aa initial interest rate of 5.73Q�b.The Note provides tde ch�nges in the adjustabl� vv-�__
<br />� , inttrest rate and ttx monthly payments,as follaws: � � ' ���.:`��'"`y
<br /> . , , • ' y'_.F'i!iy}��
<br />�-= Y�av�s�NT cuAxc,�s � � � . .. ��.���°��,��`-
<br /> , � 4.ADIUSTA1fLE IN'�EBF•3T BATE AND MO1�F'FHL ,._�.�:;';,�
<br />.. tA)Chaa�e Dates ' `' - `:.�i�'�:-
<br />.. �- Tiu adjustable interese-rate 1 will pay m�y change'an the fint day of MAY .19 93 • ='j�-�" �
<br /> :;Yy`• aad on that day cvery 12th month thereafter.Each date on whic�a iny adjustable iaterest rate coul@ change€s �r:�;�
<br /> s t . ^�1
<br /> � f caltec!a"Change Date." . . - ` _' • --
<br /> :�, _ �.�:
<br /> {B)T6e Io�de�[ �. :,.; �;�•�•�
<br />� Beginning with the�c�*��anSe Date.my adjusfai��interest rate wiil be based un an Indea.The"Ir�.�"as: . r;:
<br /> the wakly average yietd oa Uaited States Treasury,s�:.arities adjusted to a constant maturity of 1 year;��r�e ��' °�-
<br /> , � .�,. �Y ajs .
<br />^' ` fi� availabte by the Federal Rc*seive Board.Ttse most receat Index figure available as of tbe date 45 days befbre tacb, . _ _ __ r�-�
<br />< : � � Change Date iscalled the••Cunent lad�x." � '� r r `'�<
<br /> If the index is no ionger availabte.the Note Hotder will choose a new index that is based upon comparable ����'�'���_
<br /> �' � .. ; .� .,
<br /> • .zr��. ' .f '!�
<br /> information.The Note Holderwill give me notice of this choice. ~ ��;:=� !• �
<br /> ' ,:}>.
<br /> ' , �. ` (C)Catcalation of Cdanges .. . __
<br /> ,::f� -�� Befare each Change Date. the Note Holder will catculate my newinterest rate by adding 2.750 ., . _ _
<br /> � percentage points(2,750�lo)to the Current Index. The Note Hotder will then round the result of this addition _ _
<br /> , r; to the nearest one-eighth of one percentuge point 10.125%).Subject to the liinits stated in Section 4(D)below,this - -_
<br /> roanded amountw�Ilbe my new intcrest rate until thc next Change Date. . ,':;_.•'��:.4�__
<br /> . _�. ,� i� The Nate l�ialderwill then determine the amount of the monthly payment that wauld be sufficienc:io i�pay s � , � �_
<br /> ::�. - the ua�aid�r:�:.3pat that 1 am expected ta owe at the Change Date in full on thc Maturity Date at my new i:rt�rest ���:
<br /> • ; � . rate�in suissras�atly oyual payments.The resuft of this calculatiqn wiU be the new amaunt af my mantfily pay- ., '.��.;�;:
<br /> : ���
<br /> � ..� ment. ., : �----
<br /> � (D?Umitson IntecesE Rate Changes . .,;;'� ���
<br /> The interest rate 1 ac�ra��ired to pay at the�rst�hange Date will not be greater than 7.756�a or less -
<br />' - than 3•7.°j0�O. Thereafr:�r..y adjustable interest rate will never tx zncreased or decreased on any sinsfe Change Date �. � :
<br /> ��` �''F liy mare than �W�perc,entAge poi^:ds��2,�t)from the ratc of inten..��1 havc been paying for the prec�eding 12 months. •s'�,,�`,� � r: �_
<br /> ���'�'`�t �c�ar�c rFart 11.7�t�B'�.which iscalledthc"MaximumRate.° � �
<br />. . ;; My interest rate will never be , }„�{
<br /> ��•;,� � ' � . (L�ERective Datr af C�Sieges . ,`���_' .
<br /> � '�:°��,�
<br /> .��� :;., t,`p.�. ' ' My new interest r�te will bernme effective an�:.::�y Chan�e Date. 1 wi11 pay the amount of my r.�:. ronthly I .'�,)��•: �
<br /> •� `;�:.';�� �"'� payment 6eginnin� on the first monthty payment d:::�nftcr the Change Dutc until[he amount of rrrr �::onthly � . � •
<br /> �i! u r. ' ��f.�t�'•'�t �IIICIIt C�1,3JT=�'S1lb'310. " ;
<br /> �Yd'TY r� ' • "
<br /> �, ,.. F�•1�,,'1::� :' ���10R71Ct f�C�liO�[E9 ' � . 'r¢ �'
<br /> _:��.>� ,� � The Nae�,�lolder will deliver nr mail ta me:�rcotice ai any change� in my adjustable interest r.�,and th� `, , �.
<br /> , �..:.��'
<br /> ' �='�`='':..-�;�_ , amount of my monthly payment before thc cffccti�e date of any change. The natice wil!include infozrna�ion �
<br /> �;.�;�.t ..... � :
<br /> . ., ,� �;J; . : required by L�tw to be€i�•en me and also ihc title and�telcphane numhcr c�f a person�vho will answer z;�}question '
<br /> ,�:�a_ �S ,; -
<br /> . , _;�,..�,...;. 1 may have r�rding the nodce. �
<br /> ...,-r - i ,
<br /> . . -_ -'n.;� � : �
<br /> . . � B.FIXEll INTERESf RAT�U!'TIOV , : �
<br /> -� � � The Note pcovides for�he 8orrower s option to c��nvert from an udjustable interest rate with interest rate ' � :
<br /> �_;. . ; ..�,�.,,,.•,
<br /> � i�"''`'�- �. " ' limits to a fixed intcrest rate.as faltaws: i ��:':'�:,;. •
<br /> � .�.._.:,_' ......��. „ _.` •
<br /> , ' S.�1XED INTERESI'itA7'�CUVY�tSIOy pP7'ION . : ,'�,�:.;t°�,`�
<br /> -�� -
<br /> • � � !A)Uptioo to Canvert to�ixed Kate � ` '
<br /> . �
<br /> �. ' 1 have a Cum•enion Uptian that!c:�n e±�erci�e unles.l�m in default or this 5rction StA)«�itl nat permit : .�
<br /> . . me to do so. The"Can�ersiun Opti��n' is my aptian to c�m�ert thc interest rate I am reyuired te�pny hy this Nnte � ,,
<br /> � ftom an adjnsl�ble rate tvith interest rate limit�to ttt�fixecf rate caiculated urnier Sec�ian 5�g r bel�xv
<br /> ' �• . 7'he rdnvetsian can vnly t�ke pl;ue an�datels�specified hy the Nutc H��ldrr during the period beginning on • ' ,
<br /> --- - =: � ' • _ ._
<br /> . - - -�- _- = the first Changr'date and endin�e�n fhe fifih ffia�gt batr. �AC�S d�te on nfiich m}'s�i.{u�1JbEr ttHr�'v�t ti�f�t��s - , __..____..____
<br />,- . � • camett tu the ne�Ptxed r:►te is calteci ihe"Gm��crsi�n b�te." _ ' .
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<br /> � HJNCL 1�6B3A40 � 'Ner I�6:��ee.r ?C' .
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