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<br /> � � rv'��iJSTABLE RA1'E �
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<br /> . •���• ,r:. rt R�te Gps-FfZld ltat!CO�P!lfi0i O�tia�) .
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<br /> . '` - =THIS A�DNSTABI.E��`��?.��ER.is t�tade"ithis ZND day of JUNE .19 92 .and ia
<br /> incarporated'wto and shatl�:;cleei,ioed ta am�nd and supplement the Mo�tgage.Deed of 7Yust or Security Deed � �
<br /> .. - . . ..:�:_ . .. • .
<br /> (tht"Security Instrumemt;?�j;;of t�c Sama tla't��Bl�en tsy the undersigned(the Bormwer')to secure Eorrower s
<br /> Adju�t�tMe Rate Note(th�:"I+T'¢te","/io_i�li]�i;+�]EST MORTQAGE, INC. � A, iNINNESDTA � .
<br /> CQRPQftpT I ON � � �thc 'Ltihdat")bf tite�ame date and covering the piopesty describtd tn .
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<br /> tbe Secarity Instrument an�,2�'t�s�> •� - .
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<br /> --- .1726 NORTH TA�P�.:�:;#k�1:Efi1,l��`',:.�1�i�i�?.:Y3LAND� _NE b8841
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<br /> 7ME NOTE CONTA�!RSi�1CVi8i[��►tt O�y1NG�#D�Cft�ANOE3 IN TME Nr'fEREST RATE
<br /> — � ` ANO THE MONTHLI�:�IXYE�1�1�;�;'E�E<NQTEl,1�111i$.'t1�E�;1IMOUNT THE BORROWER'S
<br /> . . AOJUSTA9lE INT�'��tA�"��M'�HlI�(G�;At AN�:tiNE TIII�ANO TME MAXIYUM
<br /> - qATE THE HOR�Si��l'ER �M�T�=PAIf.� TH� N4TE ALSO CANTAINS THE - ,
<br /> _ OPTION TO CONVER7C,7�1NE�Q�4�AHI.E RAl'E TO A FlXRD RATE.
<br /> = ADDITIONALCaVFNA.'��?�Tg��o�;o-tbecovenantsaadag�eeipeatsmadeintGeSecuritylnstrumeae. � -
<br /> - = Bortower�d Lender funher�,����i��'��• �as follows:
<br /> _ - �:; :�
<br /> - . ��:•..,. ..��� _ • . . �
<br /> A.AD�USTA�LE RATE ANDF. ,�. �,, Y:�'A�MEI�IT C�AIyGF$.::...:";"":::::,;;:
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<br /> _: The Note provides for an inim:�.?���re�t rate���.OQO:`%.Tha-�J6te:Qrov�des the ckanges in tbe adjustable -
<br /> �;..� interest rate stndthe monthly papa,ti��,•�fo�1�aWs: . . % �;:r';,.: __- --
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<br /> �t-y. 4.ADJU5TA8LE INTEREST RA1flE�A�D-'IA�CUNTHLY.1'AYMLNT CHANGE9 `�
<br /> . .- i. • � 'oTa'�Y-.
<br /> . tA1 Ceanae Dncea ::: . `..:. ,.. �;�_.
<br /> � The adjustub[r interest rate I�s���.�ii�,a'y mag c�saagE�on.xhe fn'st day,of JliNE .19 9� . 6==�'"'� `:
<br /> s�,:;z s.�:�
<br /> �nd on thut day every,tZth month iPc�w��aer.:Each date an whieh iny u¢justable interest rare couid change is � �:-�,,, _,
<br />- callcd a"Ch�ngc Date.", - _ � . : ���`�
<br />- � (B)Ti�ladex `: ,:`. �� ::. � � , : . ' .
<br /> Bcginning with the�rst Change Date,i�i}a�justable int"erest rute will be based an an Index.The`•Index"is ��~�
<br /> ' the weekly averagc yicld an United 5tates T�.�asLry:seciu�i�sadjusted ta a constant maturity of 1 year.as made, _----
<br /> ,:y �: �
<br />_ nvAilable by Ihc Fedcrul Reserlre Board.The�nout seceat I.ndex�figa�e av.uilabte as af the date 45 days before each ��,�_°
<br /> ,.�.�.,�
<br /> Chunge Date is colicd the"Current lndex." '.:; � � ` ', _;�-�,.,;
<br /> � If thc index is no longer available.the:�o��Ioid�er wilt choose.a new index that is based upon camparable _,,:.,��.�,�_
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<br />- ;n infarmation.The Nate Hotdcr wiil ive me r��:�ce ofxh�s choiee.' ` '�' •'"' -
<br /> (C)Calculation af Ch�nges 6 � �:��:�
<br /> . - Before cach Chunge Uate.the Note Hotd(�Y�wcll calculata my newiaterest rate by adding ��•75G '_i:f::L-=-
<br /> . percentage pointsQ.7 a� %)to che Carrer�'l.nc3�x• The Note Holder wip then round the result af this�ddition -� '�''��
<br /> :�-.-.
<br /> � ta Ihe ncarest nnacigbth af��ne percentagep��i�S�.32S%�.Subjectto tha limits stated in Section 4(D)belaw.this � {t- :�s�� • __
<br /> ' ' rourtded amaunt will be my new interest rate�R��I rr�aexc Changc Date:� , -_ _
<br /> � .�� Thc Notc Holder will�hen Jetermine the z�.�ant�af ithe manthly pstyment tfiat woutd be sufficient to repay .. ,,, _
<br /> the unp:►id principal�h:�t 1 um expected to owe a�n�a��hang��ate in full an thc Maturity Dute at my new interest
<br /> ' � rate in sub`�s�ntially equal paymcnts.The result�u c=�is calcblation wi1)be the new Amount of my montbly pay- ,.i;;�-
<br /> � ment. . . � ;_
<br /> ' . 10/t.imil�on lnterest Rste Changes � , �� " '' :�
<br /> The intcrc�t rntc 1 c�m rcyuired tn pay At the first�F��t„�a�atc will not bc gr�uter than 8.U40��o or less ��,_�
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<br /> than 4.C�G�� �/.Thcr�after.my adjustabte interest rate c�rit:�vn be incre�ed ordecreascd on any single Chango Date ��. =tr-;�
<br /> by morc than 7WC1 peRentj�gc pnintls►�. �/�)fram the rue i�f interest 1 havc been paying for tha Preceding 12 manths. � � _
<br />. • = My interest rato will ac�rr he gre.acr th:►n12.UGa�Io.���F�.his calledthe"Mnximum Rate." ,
<br /> � (EI�Recltve Uate ut l.lwn�w ;.�. ' .
<br /> r ,��r�'t• ' My new interetit ratc will hccome efPective an es�ch�±^..:,,^.�e Date,t will pay thv�mount of my new manthly .
<br /> -= ��`'``'"`"� - pay�ent trr�innia�ua tl��fir�t�zKtathty payment ciute�ite�the Chunse Uate until the amount of my mnn�hly --
<br />. , � paymcnt ch;mgew sigain. ' , . , .
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<br /> - �:,:,. 1�1 Notke��l'hwnRc� , � . �
<br /> - i'�r"�d;' 'I'hc Nutc•Nuldrr a�ill dclivcr��r muil ta mc a nattce uv��:�;changes in my,Adjuatable iaterest ratc�nd the • � .
<br /> ' __ �'������ ' stm��unt uf my nu+nthly payment hefurc,thc cifectivp date �,`z:.-.�•change. The'natic;e will include information f , .
<br />- • • �` .=-L� re��uirt�l hy law tu hr�icrn u�c au�ultia thc litln and teleph��:ra*nt�er of a perspn who will unswer any yuestion E
<br /> . , �,�;, 1 may ht�vc rc�ardin�;liw�w,ti�e, � � '
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<br /> � �,�_.�,���,;:. •'' � N.r1X1sU IN'E'i:ttttil'ItAI'h 11Wf'Il)y , i .
<br /> -- �' `;�� _ - '1'IIC NI►tC�ttHti1IC��i�((Ili Hurraa•cr'�updn»ta c�nvcr�frons&n�djuat�blr ittte[o�t ratc with interest rate �
<br /> ="'-��� ��� Iimilv ton iiacd intcrr�t r:itc.;i�ti,llu«�: �
<br /> , =.�,,:-_;::�. . . . . �
<br /> -. - - - - ' - - . S.i�IRIslI1N'l'k:ltF�+'1 KAl`k:tlfNV�:N�IU�i(11''1'il)Y - - . _.. . - -- - - - .
<br /> . __: . � .. . IA►(1ptYm tu t'nn��u1 tu Nircd Rs�tc . . ' . '
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<br /> ='�, �� ;_: � 1 huvr n t'ut►�r�5iu�i UpU��n�hat 1 cnn etiercire untrss 1 am in de�'�:s1i ot ihi�_�eetion 3(A)will not permit '��
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<br /> " mc eo du ta. '1'hr "C���f�cr.i�m ttptu���' i�.my �,ptian Eu cemvert the intete�l rate.�atn ceyutrCd tu pay by thic Note I .
<br /> ' 4.�',`:''• .�� ' (fulfl illl Ulljll�l�IhIC f:d����itl�intcr►,t ra�tc limits��•ttk•fixcd rutc c�lcututed t�t��s Serdnii 5(Bl belrnv.
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<br /> . �i'frc rnn�Tr.ian rttt„rtfy f:rk�plinr�,�t.ri�it{�4i;pee�fiCdttj:thC 1te'�::=�:c#cr�uti�ng.lhe pe�tte�iaaiug an ;
<br /> � ' - thc fir�t!'h;n�gr Ua�c:�ad c���ln�g.aa she iiftti(.'hau�;r batr.�ach dutr�n whlch.tdy ndjutifubt� interest rate can ' - -.
<br /> -,- � .,-.� , a,nvrrt h�Ihr nrw tixcd ra�c 1.cultcd�hc"('umctvum U.uc." . '' . •
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<br /> ' ��. ; � ,.* YUItNJTATlCOINI[FTIIN.lAWUf�A�i.lIIA'fERI�EA—ApAtKANST—SmpleFam�h�-1YurTnarayMd�t�f`l�eltlN�IfAttote�lnlUum�Mfattn311Atr19
<br /> _ • •• _ • NMCL aUBBJAlI(1 ._ _ r�vre.j<d:r�r�:r .
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