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�..-��._ � - - _ .�� _ _. _ _ ��c�:=:::.. : « : -- `� ��_._ ._ ' .. `' ^ ; - � . . �. .. -.. ...7C1'11_'.rti.e.�.�,:�tL'f..t4:'�.l " 5 ' /_ . . ..a_t.'a._:..'4 . .q=.. _ �.yz.s - em ' ____��.�..��.��.�..�' . ._ �...— --- — .��...��u ��__ ' __._.�_.:�..__"_ l _-_. • �61234 1�� NAR-3118-1 , . A�.�R��'1'A�3�.�i�A`�'�i��F'c.�i: (1 Yesr 7�uj�y Iudex--Ratr Caps^-F�YCSI�3Z0 CYIIVGr51I[Ip Oj/��W7� THIS f�DJUSTABI.E RATG RfDGR Is maJe this 30TH Jxy c►f OCTOB6R , �9 96 ,atut is in�orp�rated;nta snd sha!!be sttemcd to�mead�nd supr ieiiunt the Mc�rtragc. UeeJ c�{'7Yust uc Securlty Deed lthe "Security Instrumrnt")uf the sume date gi��en b�the unciersiCiied I�h�"Qlurouer"!tu aecurr Borro�►ar'a Adjustabte[tate Nate(the••Noze")to HOt�WEST M�R3't1AGE. INC. (the •'l.oader")of tbo same date ajW caveriu�the praperty drscribed ia the Securily instrunkat aad bcated at: S17 YOSS ROAU. �RAND ISLAND. NE 69801 [Property wddrcuj THE NOTE CONTAINS NROVIStt9NS ALlOWING FOR CHANQES IN THF INTEREST RATE AND THE �IONTHLY PAYNENT.THE NOTE LIMITS TME AMOUNT THE RORROWER'S AD.lUSTABLE INTEREST RATE CAN CHANQ�E AT ANY ONE TIME ANQ THE itAX1�lUM �ASE 4:lE ElOR�Qt:•�R C:;��:' PAY. ?0:� ��Z'e AO.�C C�.::T:.7C:� T:;� OPTiON TO CONYEii 1'YHE ADJUSTABL�RRx`L��O A FIXED RATE. ADDITIO�IAL COVEI�ANTS.In addicirre co tde covenaats and agreements au�de ia the Security Insuument. Barmwer and Lender furthEr coveuaat aa�i agrze as foJbws: A.AE?1USTABLE 1tATE ANIT 11�ONTHLY PAYMENT CHANGES Tbe Note provi�ies for an initial iaterest rate of 6.750 ,�"�o,The Ncrte provides the c6aages iu the adjustsbk „ intcrest rate�ud ttx woat6ly payments.as follows: 4.AD,�USTABI.Ms"YVTEREST RATE AND MONTHLY PAYMENT CHANGES � (A➢Ci�an�e I3ates The adjustabie interest rate I will pay may change on the first dsry of HOVEMHER � �9 97 and oa that day every 12th month thereafter.Each date oa v►6ich my adjustable interest rate could cdaage is callea a•'Cbange DAte." (�}''!'I�e Isdex �eginning with tbe firss Cf�ange Dxte.my adjustabie e�terest rate will De based on aa Index.Tiu•'Ia�x"�s the weekly averege yieid on United States Treasury securB¢�es adjuste�to a coastant maturity of 1 yeu,as r�ra3e availabk by tlu Perienl Reserve Board.The most receat Iadex�gure available as of the dste 45 days before esch Chutge Date is cuil�st the"Curnnt Iadex." If t6e iadea is uo bager avsilable,the Note Holder will choose a uew iadex that is based upon compacalE+,tc � _.. .. � - �iorrt�riort�i ae"rirxe�riotarc'�oai,ii�ive�e nocice-ai tAU e2wice. . ----- -- --.. (C)Cakalat�ot Ci�� Before each Ch�uge Dar�e.ihe Note Holder will cakalate my newiaterest rats by adding Z•750 . percentagc points(�.750 �,)to the Cutrcnt Tndex. The Note Holdcr will thea round the result of this udditian to the aearest oae-eighth of one�ercentage point(0.12596).Subject to tbe limiu stated in Sectioa 4(D)beiow,this rouacled aawunt wiil ba my aew interest rate until tde aext Ciiaage Date. � � Th�Note Holder will then determine the unount of the moathly paymGnt that would be sufficient to eapay = the unpaid princip►nl that I un exgected to owe at the Clunge Date in full oa tbe Maturity Date at my new intereu ' rato ia,wbstaatial.t�equal paymenu.The result of this calcnlation wi1�be tbe uew amo�uat of my montbly pay- � msat. " ' � 1 (D)Lisits oa Lt�mt fiat�e C6aases The intersst rate 1 un required w pay at the first Clwnge Date will not be greaur than 8.7S0 g�, oi:� � .. than4.?50 5b. Thereafter,my adjustabie intetrst rau will never be inct+eased a decreised on anY su48�� � by mone dmoTYO peroentage poinqs)(2.�f,)from the nue of interest I have beea paYiug for tha pro�du�,g 12 mouths. ' . My �ntercst rate w�II nev�a be gtrater thai 2.TSO 5b.whuh�s callod the"Maz�mum Rase." . f.E}F�ctl�e ilrh ot Cir�es My�xw inurest rate wilt become effective on each Ct�aage Dau. I will pay the sunouat of my new mo ��y payment beginning on thz first monthly payment dau after the Change Date until the amonnt of my awntl�ly � WYment cl�o8es a�sin. (Fj Notice ef� � T6�e Note HoEder will deliver or mail to me a notice of any changes in my adjustable interest rate aad tlu �� amouct of my monthty paymeac bcfore tbe effective date of any chaage.The nodce will include informatioa required by law to ix given me�od also the title and tekp600e number of a person who will answer any quation ? I msy hm�eg,ardiag the notioe. •:t.. ' " B.PtaiED IIN'I'EREST RATE OPTION � 'I`iue Note provides for the Borrower's optioa to conrnen from aa adjusiabk iaterest rate with inurest rate T GmitSio a fued interest rate.as foilows: � S.FIXID INTEitF.ST RA7E CUNYERSIAi�I OPTLO�N (A)Optbn to CaQVrrt to F�ced Rate I havc a Conversion Option that I can ezeecise unkss I am in dofaalt ot this Scction 5(A) will aot permit ' me to do so.The "Conversion Option" is my option to convert thc intcrest rau! am required to pay by this Note from aa adjusrabSe rate with interest rate lunitc to the fixod nte c�culatui under Sectioa S(B)bdow+. The conversbn can only take place on a date(s)specified by tht Note Flolder during che period beginning on the�rst Change Date and ending on the fifth Chaage Date. �ach date on which my adjustable interest ract can convert to tbe uew fizod rate is caikd the"Conversioa Datt... �nsv►rECOwvfnrw��o,iwcw�w►rEwo�-u�n�wa�-s.�c�awr-,nj'e�r��rrr...�.�..u.r«.w«�►w�.a�wuM WtFI lOOd3 AM �. piqs J y2 picrw�