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<br /> , . , _ � � �; .` � � :� . � �ADJI��TABLE RATE RIDER.. ' . � . , .
<br /> _ ` (I Yni�+easMs�Isia�—ltate G�pr—Flied Rate Co�veraioa Optto.j
<br /> , < � . .r� _ - < < . . < <
<br /> � � THI$ADNSTABLE�RATE 1�IDER is madr ti�is I9TH day of. JIlNE `. ,19 92 ,and is . �.
<br /> , incaiporated into sad sball be deemed to amend and suppiement the Martgage,Deed of Trust ot�urity Deed
<br /> � .(the"Secnrity Iastrumsnt")of the same date given by�the undeisigaecl(the"Banowes")to sezure Borraover's� ,
<br /> . A�jjastabte Rate Note(the,"Nose`')to NORWEST I'l�tTQA6E, INC., A�MINNES.OTA � _
<br /> _ _ CORppRqTYpN (the"Lendei'7 flf tiie same date and covering the property descri6ed in
<br /> � �. .cl,asecarity lnsuament ana locatod ar. - _ , � _
<br /> . � . � ---�: � .
<br /> _4�?2 BELL BOtJ�EVARD 6RAN�.ISLAND, t� 68801 ` � .
<br /> . . _. _ [���naaress) � ' _ .
<br />- ' . -� T1;IE N4TE CONTANyS PROV15K1NS ALLCWING FOR CHANGES IN THE MREREST RATE
<br /> ' wN0 THE MONTHLY PAYME�IT.THE NOT�11MITS THE AMOUNT THE,BORROWER'S
<br /> - ApJLISTl18LE iNTEREST EtAT�CAN CNANGE AT ANY ONE TIME AND THE MAXIMUM
<br /> - RATE•�.�'##E BORROWER;Y�lST pAY. THE NE1�E ALSO C�NTAINS THE • ,
<br />`-- --"`:`:- � OPTIQfi�CbNVERT THE ADJI7STA8LE RATE TO A F�D RATE.. .. - _
<br /> ADDII'YONAL COVENAN'r3.In addiuon ta the coveaants and agreements.made in the Security Iastrument,
<br /> - � � Bonbwer aad Lender futthei cavenant aad agrce as follows: � - _
<br /> - --- � A.AD,i1JSTABLE RATE AND M011�THLY PAYMEN'f CUANGF3 . ;:"`:.
<br /> -_ � TI�e Note provides for an initial interest rate of 6..125 �.Tl�e Note provides the cdanges in the adjustable
<br /> -•� iaterest rate and We montbly:payments,as follows: , � .
<br /> - - 4.ADNSTABZ.�I11�TE�ST RATE ANR MONTHfl�•Y PAYMENT CHANGFS . _,_ . � ` -
<br /> (A)Chaagel�ates ' ' � . - � _ .---
<br /> The adjustable interest rate I will pay may c6ange an the first day of JU�Y . .1993 . = _
<br /> and on that day every 12th��nonth thereaftei.Eacft date on which my adjustabie interest t�te could change is —
<br />:. ` called a•`Change Date." . . �s—��
<br /> ;.. ,' ..- (H)TLe Index
<br /> �" : ,._ Beginning with the�rst Change Date,my adjustabte interest rate wili be based on an Index.The"Index"is
<br /> ' the.weekly average yield on United States�'reasury securities adjusted to a constant maturity of 1 year.as made, �___�
<br /> available by tha Federal Reserve Board.The most recent Indea fgure available as..pf the date 45 days before each -
<br />- Change Date is cailed the"Cunent Index." r�u"'�'���`
<br /> -_ a�,.��,
<br /> If the index is no tanger available.the Note Holder wiU choose a new index that is based upon comparabte >:::�:,;�.—
<br /> � �' information.The Note Ho1deT wiU give me notice of this choice. �':� ."- T-
<br /> _�: ,'•7.�.,:_:'°. ..�.-
<br /> (C)Cs�lcalation o!Chaages - _ _-
<br /> . " Before each Change Dace,the Note Holder wiU calculate my newinterest rate by adding 2.750 ..`�. '_
<br /> � � percentage points�.7S0 �l)to the Current Index. The Note Halder will then round the result of this addition , ,.�.�.;,�__;.-
<br /> R`�, to the nearest one-eighth of one percentage point(0.125�/c).Subject to the limits stated in Section 4(D)betow.this � =`-•'
<br /> _. , .y ,�
<br /> ' rounded amount will be my new interest r�te until the next Change Date. �'�.���::��=;.--�
<br /> . .� �:. ` The Noto Holder will then determine the amount of the monthty payment that woutd be sufficient to repay ==�;c,':«;x: =�
<br /> . � the unpaid principal that I am expected to owe at the Change Date in full on the Maturity Date at my new interest . ,y.,;;�.�:-.,s
<br /> rate in substantiatly equal payments.The result of this calculation will be the new amount af my montP�fiy pay- :�,:,• _
<br /> «, ment. � :,�`r�4`=�'
<br /> (Dj L1m(ts on Interest Rate Changes ' • ' '���'`�
<br /> The intetest rate 1 am required to pay at the�rst Change Date will not be greater than 8.�25�/� or less �,�n4;;_
<br /> than 4.125 �Io. Thereafter.my adjustable interest ratc will never be increased or decre�ed an pny single Change Date , �` ``.��._—
<br /> � by more than TWO pe�centage point(s)Q. �Io)from the rate af interest 1 have bcen paying far!he preceding 12 months. . : .
<br /> , 1 My interest rate wili never be greater tha�2.125"/c,whichi�caltedthe"MaximumRate." :
<br /> � , , (�.7 Eifecttve Date ot Changes , �
<br /> ' My new interest rate will became effective on each ChAnge Date. I wiU pay the amount af my new monthly . .
<br /> . � :�n rr; �:- � payment beginning an the first manthly payment ds�te after the Change Date until the amount of my monthly .
<br /> ___ '-.d_.:�;,a`_:'�•'�3'._ . __ __ _
<br /> - ,- - i�::t,. - payctt.nt c#rscsg��a�.;is�. . , . , .
<br /> (F�Ndice d CiwnRes l . ti:'. ,
<br /> �( The Note Hotder will deliver ar mail tn me a notice of any changeti in my adjustAble interest rate and the � .
<br /> . ,:! f'..;i. Z . �
<br /> � ' ��'';,, amount of my month{y payment before the effec;tive date �f any change. The notire w�ill include infbrmation , . .
<br /> � ���. � required by law to 6e given me and also the tittc and telcph�nc number��f a person who wi1F answer any qucstion
<br /> . . . .`'�F. I may have regarding the notire. . ` . .
<br /> ' �� � � -
<br />, � y , ' ,
<br />' - - �'`� B.FIXED INTER�S"i'RATE OP'i'10�3 � ` ' .
<br /> , . , ,�;}':���,'�;:I;k The Nate provides fnr thc Borrower`ti optinn tv cnm�ert from an�djustablc interese r�re with interest rAte � � ��
<br /> limits to�fixed interest rnte.as follrnvti: �
<br /> -�-r r w� �' '�..•• .
<br /> � • S.F1X�D INTERFbT ItATE CO1YV�IitilO;V UPTION i .
<br /> . ' �'.�:;-v..},.-. . .:.' � (A)UPttan to Convert tb�lx¢d Rate �_
<br /> ;�<,�:_,�,'.:::; �;.;. I have a Converslon Optldn that 1 cun excrcise untess t am in default or this Section 51A1 wilt n�t permit ' '
<br /> ti,��;�-,..;, � ;.� me tv do so.3'he "Conversian Optirni' is my optian tn cam�eri ihe interest rate 1 am require�i tn pay by this Note
<br /> ' • -• � � from:ut ad}ustable t�ate with interest rate timits to the fixed rate cUlculnted under 5ecuon 5�$)I�e1nw
<br /> ���ti;;a°-::,-, . . • .
<br /> � . - The conversion ran only t�ice place nn a dately)specified by the Note Ho2der during the period beginning un •
<br /> � . .,, :. .,
<br /> , �. -
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<br /> _" � - .fhe first Clr��,�r#7vte an�#ending os the�i€th�nge bate.E:ecEs d:�te�e tithich riiy ssl,�ustab2e iaterest rate caa '
<br /> _ ;�.:� . . convert to the ne�v fixed rate is called the'•Cnmersion Date." , �� . .
<br /> �. , �. ::- . �� — 51 cam�ty-1v.uTnasuryi�¢aMMWWeltanelnstrnwntFarm3ftbt/t4 . : • .
<br /> _ _ ._ _._ItlNTISTATECONYEATIBIEACJUSTABLEpATENIOER AiiNOLlI#1 --Smple _ . - - -- -- - --- - ---
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<br /> • ' 's NMFG M06B3A90 �{v4r 1�,l��v.ni = . . .
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