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<br /> r�t ��'� � ' • ADJUSTABI.E RATE RIDER
<br /> �. �
<br /> - � "'�'^"'�'�� tl YeAr 71re�wu� ladex—Rwtc l'Aps—Fixed R�►te Converalou Uptlonl
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<br /> � :�,�;_�, ;�.�- ��: THIS ADIUSTABLE RATE RIDBR is made thi� 18T dayof MAY . ly 92 ,and fs
<br /> '' ' ,`•ti*`��-r;�^ �6'�' " incarparuted into und shall be Jeemed to�mend und supplement the Murlgage, Deed of Trus�t or Security Deed
<br /> '� M •, • .. ^ ' (the"Security Instrument"1 of the tiome Jute given by the undersiRneJ(the"B�rrower"1 u►secure Barrnwer's
<br /> :, . � ..
<br /> �,- . "����^;:;'" ' Adjusts�ble Rate Nate Ithe"Note"1 to NQRWEST MORTC�AC�E� INC. , A MINNE80TA
<br /> � " � � CORPORATION (the"l.ender")�f the same dute and coverinR the prope�ty described in
<br /> .m"�:'����:�° .� .. the Security InYtrurnent ond IacAteJ at: _ -_�
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<br /> :� ��� � ' �'. .� 414 SQUTH SHADY BENA RDAD GRAND ISLAND, NE 68901
<br /> [Property AJdre�+�
<br />'"�% • THE NOTE CONTAINS PROVISIONS ALLOWINd FOR CHANGES IN THE INTEREST RATE
<br />'�`>� ', .':.1 __�; `' AND TH� MONTHLY PAYM�NT. THE NOTE LIMITS THE AWIOUNT THE BORROWER'S
<br />�':. ,;:,- �. . -- ADJU37A�LE fN i ERES'i RATE CAW CHANGE AT Afs1Y ONE Tli�l�Al�D THE 14AA?t!{�lo.P�A _ _.
<br /> �<<' � RATE THE BORROWER �AUST PAY. THE NOTE AL30 CONTAINS THE
<br /> ���'t�. : ` OPTION TO CONVERT THE ADJUSTABLE RATE TO A FIXED RATE.
<br /> ,:.: . , ,:, , --
<br />�;^��� � . � ADDITIONAL COVENANTS.In addition to the cavenunts and agreemenis mude in the Security 1ns�xumenl.
<br /> ���.� - . -'' � ."-� � 8arrower nnd Lender fu rther covenunt und agree as fol lows: --
<br /> � � • � A.ADJUSTABI.E RATE AND MONTHLY PAYMENT CHANG�S
<br /> ' "' The Note provide�far an initiul interest rute of 5.250 �/c.The Nate provide.thc chun��s i�e the adjustabte �'`� '
<br /> 1� � � :�::•,
<br /> . �..,s��' � inrerest rate und the manthly payments,Ar follows: ���
<br /> � ��:::,:,,._.,•� F
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<br /> � ';+.°'' � q.ADJUSTABLE INTEREST RATE AND MONTHI.Y PAYM�NT CHANGES --
<br /> . " IA 1 ChAn�e pates -
<br /> The udjustable interext rate 1 will pay mny ch�ngc on the first duy of MAY . 1�9� . __
<br /> � ^ � �� � • nnd on thnt duy every 12th month thereufter. Each dute on which my adjustnble interest rAte c:oulcb change is =._:-
<br />� cAlled a"Chunge Date." _-_._. .. -
<br /> =°- . (81 The Index = -
<br /> � - :1;;1��� ' Beginning with the iirst Chnn�e Dute,my udjustuble interest rnte will be bu�ed on un Index. The "Index"is ' � —___ -�-
<br /> ' �r''•�'� the weekly averuge yicld on United Stutes Treusury securities udju�ted to u constunt a�aturity af I yeur,a,mude __.
<br /> ' '�;�1
<br /> avuilable by the Federul Reserve Bourd.The moxt recent Indax figure avuilable as of the date 45 days before each �,,;.�.�r�_1,
<br /> . Chnngc Date is col led the"Current Index." '• ' ''
<br /> , . If the index is no longer uvuiluhle. the Note HolJer will chaose u new index thut is based upon campArable �-_•_� •� • �= -
<br /> ' ' ' " information,The Note Hnlder�vill give me notice nf this choice.
<br /> IC)Calculudon of Chan��s --
<br /> � ��' Bcfore euch C'hange Dute, the Notr H��Ider will ralrulute my ncwintcrcst rate by udding 2.7Sb R,�,,,�s„----
<br /> t���i' � • . ' percentuge pointsQ•750 �/1 to the Currrm Indrx. The Note Holder will then round thc re,ult of thiti uddition -_°-_-
<br /> ;.,�. �,r
<br /> to thr ncare+t on�-�ighth of one�rcentuge point 1(1.I"_'S�/.1.Subjrct ro the limitti tituted in Section�31D1 below,this �dra:��� '="
<br /> ' � . .,;�• rounded umount will be my new intcrc,t rat�until thc next Chungc Da�c. FF's�...__.__..
<br /> � '' The Note Holder will�hen drtcrminr thc umnunt ol'thr m�mthly puymrnt thut woulJ bc sufficient to repuy °''�"�, ;.�
<br /> ,.;;�,��,,
<br /> the unpaid principul that I am expert.d to c�w•r at thr Changc Dute in full an thr Muturity Date at my new intere.t � • '
<br /> ' � rate in tiubstuntiul ly equal puymen�+. Th�result c�t'this cnkulation will hr the new s�mount oi mc monthly pAy- ' �•,,.:,�;;._..
<br /> ' ment. ��:��1-__---,
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<br /> � • (D)l.imits un Interest Rate ChenRes =�
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<br /> ,, Thr interext rutc 1 sun requircd ro pa� ut thr fir.t Chungc Date will n��� hr gieater than 7.�,.�O.f nr les�
<br />"�� • thun 3.c54 'G. Thercafter,my a�ijutiti�hle intcre.t ratr��•ill nevrr ir•increaticd or d�rrea,rd�Ni any•ingle Change Date
<br /> � � by nx►re thun TWO percenlugc�x�inuti►�• ''/)frnm the ratc�f intcrc�t I have 1+ren pa}ing ior thc prereding 12 manth.r. �_._.._ �,..M.
<br /> My intcre.rt rute will necer t� greater Ihunt 1.250�/�,whirh i.calkd the"Marimum Rute." r =�•++'�=:
<br /> ��`�w.,F.���',.F—.
<br /> � � ,�,,;�;,. IF)EffectiveDateofChan�es ,. �
<br /> ';;.":�;'.;,�. My new intcrest ri�te will hec��mr effer�i��c�,n e:ich('hangc Du�e. I �vill pa� the am��unt of my nrw monthly t ;°`'�
<br />� '�::����'s.;•`' payment hr�:inning�,n the f'irxt m��nthly p►q•mcnt J:ur ul'ter thr('hungc vatr until the am�un� �,F m��munthly � . ,
<br /> �• paymem changr�again. 1,
<br />; : � IH 1 Nutice of Chen�;es ;�
<br />� ,,;�t�'��'; � Thc Notc Nal�lcr�vill Jrlivrr ��r m��il tu mr u ni,tirc uf any chunEr, in my aJju.tablc imere�t rutr anJ the .. ..
<br />� . ,. �;;.'��:; amoum uf my nu�nthly pa►ymcnt hcti�rr thr el'frrti�r Jiitr��I'any rh:m�r. Thr n��tirc «ill �ncludr information �:
<br /> • :;s�:•� :' reyuired hy lu�+•a► Ik�i�rn me iin�l ul�u thr titlr anJ trlcphonr numhrr��f u per,�m who teill an.wer uny��ue.lion � ,.
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<br /> ' ! I m;►�• ha�r rcgurJing ttk ixairr. �
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<br /> d.KIX1:111N'1'M:KNti'I' KAI'l:OI''I'ION
<br /> , . Thc Nutr providc. li�r thc Borrow•cr'� uptinn �a r�,mrn Ir�,m :�n aJju.t,�blr uilrre.t ratr�vith intcrc,t ratc
<br /> limit�tn a fi��d int�rc.t r;il�. a�tidln��r. �
<br />- --__.._..—= 5.MIXEb INTEItFti7'R�►1'E('(1N�'b:RtilON O1''17ON
<br /> IA)Optbn to Con��crt to Mixcd Rutc
<br /> ' I nu�c a Cumrr.iun U�,ti„n that I ran r�rrci.� unlc,. I :un in drl;iult ��r thi. tir�tiun 5�A1 ��ill nnt permit
<br /> mc ai do.��. i'h� "('umcr.iun c)ptiun" i. m� �,puun to ramrit th�• in�rm.� ra�r I.un r�yuirr�l t�� pa�� h� thi,Notr
<br /> from:m aJ.ju.lahlc rair��iih intrrr,t r:ur limi��a,tlk li�rd ru�r ralrulat«I w�drr ticr�iun S�li►hrlo��.
<br /> . 1'hc run�rninn c:oi unl} lal�e rlarr�,n a d;ur�•�•�,rrifird 1.� �hr N„t� H„I�Icr�lurin� �hr periud he�innin�an
<br /> thr lir.t Change t)atr :utd cnding un Ih� I'il'Ih ('han�r I)ntr. I•:arh dalr ��n ��luch m� a��u.tahl. int�rc.t ralr can
<br /> r�m�crl I��thr nr« tirrJ rate i�r:tllr�l Ihr"('��mrr�iun I):Ue...
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