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<br /> _ �20�79 � . . � , � � � . :� _ , �� f���� `,
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<br /> . .. , � � . ' AD3UST�BLE RATE RIDER � �
<br /> .` .� � p Ye�r Zirnsuy I�da�-Rate Gps-Fiued RaEe Cowerstar tfEtiM) .
<br /> ' -THIS ADIUSTABLE RA'fB ItIDER is ma�this2lST dayof tfA'l , .`i9 92 ;and is.
<br /> ' � � , iacorporated into and shaU be`ilceaxd to ameod and suppteipent ttie Mortgage.I?eed of 1lrust or Secnrity Dad.
<br />-_._�______-�� - .._.. (t�"�ority Iasuument"?of the same dau giverr by the andersigned(the�"Borr�s�rr")to secum 8orrowu's
<br /> _ "_ � , --�TaBl�itsta-I'�aTG t�e-"Notc�N8�3T-�t�lt'.�G�E,,-�!�!�_Y-#�=�lME64T�______-=. _�_ -
<br /> COaPORATI�N ` � (the••i.ender")of Rhe same date an@ cavecing the property described ia
<br /> . �
<br /> thc Secutity tnstrumsnt atid tdcated at: - ` - . � -
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<br /> _ . 414 GUNHARREL kQAD GRAND TS�APID, NE 688Q1 �.
<br /> __ — . EProperty Addressl
<br />��� ` THE NOfE CONTAINS PACAlIS10NS ALLOMfING FCR CHAN�iES IN'�HE MITEREST RATE _
<br /> � AND.THE MONTHlY PAVYENT.THE NOTE LIYITS TNE ANQUNT ThE BORROWER'S =
<br />-- -`- Atl,�l1STABLE INTEtiEST RATE CAN CHAHGE AT ANY ONE TlME AND THE MAXIMUM - _—
<br /> = -�- _ ,`._
<br /> - RATE TRE BQRROMtER: iNi3bi-rwY: i i�i� iiGTE Ai:SC CCY.��l.:� .:::� � -
<br /> � `' � CpTlO.N'[�D CONVERT'FFIE wDJUSTABLE RATE TO A FlXED RATE. - - ��,, ---
<br />;:,y- • ADDITIONAL COVENANTS.Inaddition to the covenants and a reements made in t6e Securit Instrument, r=�`"j�--
<br /> .:. 8 y , .j.;�z'.';_--
<br />`�` � Borrower and i.ender forther covenaat and agree as foltaws: ��=�f''�
<br /> - __����_._
<br /> _ . •:�..�_., �= -�
<br />_=r�:.:; � . .s.r,:.
<br /> ` A.ADJUSI'ABbE RATE AND MONTHLY PAYME1�iT CHANGES - -���'=`��`=-.
<br /> _ .; .Y T� �
<br /> f � � The Note provides for an initial interest rate of�.750 °b.The Note proyides the changes in the adjQStable ,:�._���_--
<br /> injerest rate aad fhe montbly paymenu.a5 follows: , . �_s=:�.::�: =
<br /> < . . :'>- , -
<br /> •..•:ir;_<. �: . --
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<br />`:,'�•:.':`- � ..,,4.ADN�'hBLE INTEREST RATE AND MONTHLY PAYMENT CBANGES � �y, �, .�
<br /> ` - � - - . _ , . . . � . _ _ _ _ _. -
<br /> , ; a : �(A)C6ange Dates �= ':_�—
<br /> The adjustable interest rate I wiU Qay may change on the first day of JUNE . .199� .
<br />:_ �.* .�� ��:i�;. �and oa that day every lZth inonth thereafter.Bach date op which my adjustable interest rate coald change is :.. 4-•�ti;,; .�;
<br /> f called a"Cftange Date." - . . � ��f
<br /> :fi .�s?' . � . , :: ,.. .. . �;
<br /> ;�. . � (B)�The Indes � � .� . ,.= � . �.. -.�
<br /> Beginning with the�rs¢Change Date.my adjustabte interest rate wiQ be based on an lndex.The'index is. �'r'a��:.-s����•�_
<br />• �,Y '` ` aa:weekly average yietd o;i llnited States Treasury securities adjusted to a constant maturity of 1 year.as made . .-.. :���*���
<br /> � ���� 'acailable b the Pederal Reserve Board.The most recent lndex figure availabte as of the date 45 days before each �� �
<br />. ,'r>;.' �. Y . . , ..`:_� ' t:.,
<br /> �:,,_,_��, Change Date is called the•`Curreat Index.^ t�`� ''•�-��
<br /> ,;:.::� • �
<br /> � ��r_ if the index is no tonger available,che Note Holder wiU ehoose a new index that is based upon camparable : _ _�__-_
<br /> '`;N�_.-4:., .� • • - -�
<br /> ,��... � informatian.The Note Halder will give me noticeof this ch�iee. � ,� _.
<br />. t�� ��,-, �'..'3�. •• . ;.,_
<br /> . ::�;��..�-;,�;�; (C)Cs�iculatba o!Chaeges •a�`�_.
<br /> 7�''�x.��..:'`- Before each Change Date.the Nate Holder wiU calculate my newinterest rate by adding 2.7�U '.�-
<br /> " r'�'"}�`� percentase point�.7�0 �/�)to the Cunent Index. The Note Holder will then round the result of this ad�ition . • °��-_
<br /> {_, .
<br /> , , to the aearest one-eishth of one percentage point(0.1259c).Subject to the limits stated in Section 4(D)below.this �-�,-,
<br /> � ' rounded amount will be my new interest rate antil the next Change Date. ' '3r�"
<br /> .3�=„
<br /> � a� ' The Note Holder wiQ then determine the amount af the monthly payment that would be suf�cieat to repay . �, ��_.�_=�
<br />� �}! �:,:,= � the unpaid principal that 1 am expected to owe at thc Change Da�e ln fuU on the Maturity Date at my new intcrest "�!j.`��' `' �_�`:;
<br /> ' s^F�'$M_::'"�'�-- A ��}
<br /> � T.��t�-•.,_.. rate in substantially equal payments. The result af this catculation will be the new amaunt af my monthly pay- . , ;-;,.�•.
<br /> . .�t. - ... �
<br /> . ".`.�_.,;�,:,: . ment. , , =�.:
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<br /> � �'�=.:��:.� (D)Limits on Intereat Rate Chs�nRes ` � . .: ���
<br /> . ;.,�,�� � The interest rate i am required to pay at the first Change Date will not be greater than 7.7SC! °10 or tess � , ���
<br /> � �''fi` �han3.750 �lo.Thereafter.my adjustable ioterest rate will never be incrcased ar decreASed on uny single Ctfange Date • ,:��; x=.
<br /> � � �/�)fram thc rate af inter�st t ha��e been paying for the preceding 12 manths, ����
<br /> '=- - : by more thanTWO percentage point(s�. • ;`, �
<br /> �,:��'� �'�� . , , .
<br /> �"��-'� ,,� My intemst rate will never be greateff thabi.75U �/.which is catied the"Maximum Rate." '. „�;;;`.
<br />� r�� f_. . . .
<br /> "'%;�:,,�=�; ,:` (E)EReciive Unte atCt�anAes � � �`�'�, ':,: . •.'„'���:I
<br /> `.-��,;;,_;.�r'. •... �
<br /> �r..,�,-•::: • My new interest rzre�•�!)become effective on each Chpnge D�tr. 1 wi[i pay the amount af my new manlnty �.�. ., ��
<br /> '��`�'"� � � payment beginning an c�:�rst monihly paymcnt datc�iter the Change Oate until thr amount af my monthly �����4;�.��� ,
<br /> , -� ..---,.-- Payment changes ag,uin. . � ? -- _ --- -
<br /> ' , .t:::��=,:c'::. �' (F�Noticeo�Clu�nges � '
<br /> ( �`� ��' ' The Note Holdcr will dcliveT or mail tu mc u notirc ai any change� in my adjustablc interest rate and�he ,
<br /> '��;'.:; .
<br /> � . !„�..,•� amount of my manthly payment befare the cifeciir,•e date oi any chunge. Thr n�tice will include i�far,m��on
<br /> ' ;:�;�;;'�.�� � required iry law to bc givc�me and Al�o thc titic arQ tclrphone number of�c�perron wha will:�n�wer au�y c�►estion
<br /> . '`� �� . 1 may have regurding the notice.
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<br /> . , . , � S.�1X�D INTERFST RATE Ol►7'IUN � �..
<br /> ' • . The Note pravides inr ihe Barrawcr's uption tn cnm•rrt fram sin adjustablr intcrest rate with intere�t ratc '. • . '
<br /> ..:� ...•. i.�.' ,
<br /> - � limils to n fixed interest rate.uv follaws: • • � � . •
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<br /> .. _ _ .. • 5.FIXED INTER�S'1'ItATE CONYERSIVN OI�TIUN ; � � -
<br /> ,
<br /> �- - - - = . -- (A)UPtkin tb Come�to Fixcd Rnte - . ! - -
<br /> . ' �� 1 havc a Convcrsian Uptic►n that 1 can exerrivc unlcss 1�m in dcfauit��r this 5eCtinn 5(A)will nnt permlt � .
<br /> ' � me to do so. The"Convcrslon Op�i�sn' is my nption tn cunveft the interest ratc 1 am requirrd tn p:+y t+y this Natc � �
<br /> � -. _ • from an ndjusta6le rate with interest raie timits to the fixed rate cutculnteJ under 5ertian S(B)belo�v ! ,
<br /> _ ' � The canversion ran only take pisce un:�d�tcl�1�pecified hy�he Nntc Hnlder during the period t+eginning an � � ` - -
<br /> � � - ----
<br /> T -__ .---_�--�-� __ . the flrst Chattgc E�te hnd endin�on the fifth_Chutsge Date. �ueh dute�m which my udju.vt�ble interest rate can '� -_ ._---
<br /> . .' convett to the new�ixed rute is cnlled the"C�im�eninn bate." • �
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