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�_� : . _ _. . . ,t. _:< --_-- : .�: " .. - - - .< < , _ ... -<<. - -- - -- �� , -- - _ --�- - - _T - <��k� � " .. ` ` ` _ . :«�_ < � 'c �B i . r `� ' . _ z . , �� = ��_ : -_ �� `, � RATE RIDER � �-� . ` 4 << � � ADf7t�STAEL� � - • , , . . ' � � . {1 Year'�Ye�s��M4�-�aee Csl.-1R�ei Ra�e Ga�eriia.b�tir): � ;� ` ` 'i'HtS ADJUSTABLE RATE LtIDER it md�tliis 13T , dty of �J!!NE ` ,19 92 �aodix � . • iaorpoated ieto and slaalt be deemed to urKn�aad suppkment the Mortg�ge.Dad of T=ust or Seairitq peed� ` ` � � . . (tLe••5ecudty U�mumeat")Qi tbe s�nic dste given by the nndersignrd(tbe.•BotrmMer")xo secure Borr�er's � �i��g��r•�••)� NORWEST MQRTGRGE, INC., A. MINNESOTA -.-� --CClFtPOFtA'iI Ot� � � - - ;tttx"tender"�o€the samc date s�cavesin�tlsee propstn'desari6ed is--- :_- ._ s _ �- _� : ZiiF�:ariiy�ns'tiru�et a�d toc.atacf�t:---J , � l522 WEST KdENTG�. GRAND ISLAND, NE b88Qi� _ �. � � [�rcY�eans�l . _ .._ ' . THE MQ�iE CONTAMS.PROMISIOMS ALL�OlMMrG FOR CHANGES IN THE NTERESZ'RATE ANO"FHE YON�'NLY P.AYYEML'1'HE NOTE UMITS THE AMOtlNT THE 90RROMIER'S ; AD.NSTA�E N�ITEREST MTE CAI�CHANGE AT ANY OI�IE�IYE AND THE YAXiMUM : � RAtE TH.E 9.ORl�OWER MUST PAY. THE NOTE AtSO CONTAINS 7HE � � OPT1011 TO CONYERT THE.AOJ!lST/18LE RATE TO A FlXED AATE. � ' . AD�ITIONAL COVENAI�TS.In addiaoa totbe covenaats and agceemenu made intt�Securny Instrument, • _- Borti►wer and I.eader further covanant and agree as folla�vs:� , . A.ADJUSTAaLE�RATE AND MON1'HLY PAYMENT CHANGES ` . 'I'he Note provides for an iaitial enterest rate of 5.750 �k.T6e Note provides the c6aages in the adjustabk . r;� ioterest rate aad the monthty payments,as fottows: � , � .� z' �- � 4.A�]USTABLE INTEREST RATE AND MONTHL.1j lA1G11ENT CHANGES �. .-r...,�- - . - - (A)Clu�se Oates - - The adjastabie interest rate I wi11 pay may chauge on the first day of JiRY • . , 19 93 . and on th�t day evtry 12th manth thereafter.EacEr date on cvhich my adjustabte inter�st rate cauld change is - ��aUed a"Change Date." � � ' ` ,}:.-'° (B)Tt�e Iade�� '� - Beginning with the first Change Date,my adjustabte interest rate will be based on an Indea.The"Index"is --- the weekly average yield on United States Tieasury securities adjusted to a constant maturity of 1 year.as made � avaitabte by the Federal Reserve Board.The most recent tndex figure available as of tHe date 45 days before each - Change Date is calted the"Current index." . If the indea is ti�o longer available.the Note Holder will choose a aew indeic that is based upon comparable � informaaan.The Note Holder will give me notice of this choiee. • � � � (C)Cakulatbn otChsmges � Before each Change Date.the Note Holder will calculate my newinterest rate by adding 2-�� .;_ � percentage�SOints(Z.7�0 �70>to the Cunent Index. The Nate Holder wi11 then round the tesutt of this addition - td the nearest onc-eighih of one percentage point(0.125�0).Subjeet to the limits stated in Section 4(D)below.this - rounded amount wil!be my new interest rate until the next Change Daie. � ' The Note Holder will then determine the amount of the monthly payrnent that would be sui'�cient to repay _ the unpaid�rincipal that 1�m expected toowe at the Change Datc in full an the Maturity Date at my new interesi ,.,:�. , rate in saBstantially equal payinents.The result of�his calculatian will be the new amount of my monthly pay- �_r� �- ment. - ' . (D)Li�its an l�sierest RsUe Changes The interest rate I um requircd to pay at the first Change Date will not be greater tban 7•7��0 or less �:'�':�. . than 3.7�G 9'0.Thereafter.my adjustable intcrest rate will never be increased or decrcased on any single Change Date __ " 1 by��7W0 perrentnge p�iintfs)�• �/o)from the rate uf interest 1 have heen paying for the preceding t2 months. -�,:!`�� My interest rate will never be greater thar►t 1.75G%. wbi�t'c�called thc"Maximum Rate... (E)ERective Date ot Ctwnges � My new interest rac�will beec�nYe effective on cach Change Date. 1 will pay the Amount of my new monthly -'- - --� ' payment beginning.o�i tE;e fisst ma;sthiy payment datc.tiftcr thc Chan�ee D�te until the amount of my monthly . ,` paymentchanges:�gain. � . ; . (�NoNce of Clwnges S'• The Note Holder aell deli�er cr mail to me a noticc of.a�y rhanges in my adjustable intcrest rate and the � - ' amount of my monthty �ayment befare the effcctiti�e datc cf any change. The notice wiil include information �. . required by law t�bcs given me and also thc titic ard tetepi:o�e numbcr c�f a pertion who will answer any question •.:: 1 may ha��e tiegarding the notice. _ �. , • �� $.F1XE1)INT�It�ST RATE OP'i'iUN ' '"'�M=��'� � The Note provicles for the 8orrawer'� uption to ronvert fro�n an udjustable intcrest rate with interest rate � limits to a fixed intcrest r�te.as Pollmvs: ., . .s. � �:3f�_:i__,:;�:..! S.FIXED iNTEREST RATE CONV�R5IUN(N'TIUN . � . . '�+�'�`�'�-'�' (A)Optbn to Caevere to Fixed R�te � , . � -: ��_, . . z � �"=�'�� I have a Conversion Option�h�t 1 can cxerci�e unlesti 1 am in default or thi.r Section 5(Al will nc�t permit � � " '-�.�`•L�� i me to do so. The"C�m�enion Option' is my option to convcrt the interest rute 1 am reyuired to pay by this Noic ,_.:_,. � �•�.-^::��---�.•�• . from an acljustable rate with interest rate limits to the t"ixed rate calculated under 5ecdon 5($1 beIow ,r�.;,_�: ;;� :Y � � =��"-•�-�=-. '�:. 'Che conqersinn c�n oaly t�lce pl�ce un a date(s)speci�ed by tbc Note Nolder during the periad bc�inning nn . �"�'�`�� the first Change Date and enJing on the fifth Ch�nge Date. �ach date on�vhich my adjusfu6le idfetesi rsfe ca� ' `' T''`�i, -`� - convert to the new fixed rate is c�lled the"Cnm�er�io»Oate." � , ,. . .. .� �� • � • ..,,. � .. . _:�; --L`�'- - - — -- YfllilSTATECQl1YEH1101.8AOJU3TAM.ERATEAIOEA��NIfPf,Al15f—Smp!efa�,yLtYM�THrwyMe�x•fanetaWeUeMn+rminstr�eMntian�lttstr!! - - - - - .„_- e � ;r�� NMFl.t06A3�190 ��,v1.d:puc..' - ' . .7' �" � - . ' � - . .. , . .,. .� ..♦ j�•e. ... '�.�.,: