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<br /> � - :�_"�„�°'-'-�. 26763 N 92�► 1�9 FNAR -----
<br /> �
<br /> ADJUSTABLE RATE RIDER
<br /> ^ (1 YearT�rea�ury Index—RAteC�ps—Fixed RAte Coaveraion Optlon)
<br /> ��,,� THIS ADIUSTABLB RATB RIDBR is mnde thls 20TH duy of JULY , 19 92 ,and is
<br /> � incurporulcJ inlo and ahall be deemed to amend und supploment the Mortgage,Deed of Trust or Security Decd
<br /> � �' �„�,,,�,, (thc "Sccurlty Instrument")oP the same date given by thc undersi�ned(the"Borrower") to secure Borrower's
<br /> ��.� � ; �djustuble Rate Notc lthe"Note")to NORWE8T MORTOAQE, INC. , A MINNE90TA
<br /> ~� � �a�.. ORPORA7ION Ithe"Lender")af the same date and covering the property describeJ in
<br /> ;,;,�' � t�':�;, tlw Socurity InQtrumont nnd located at �
<br /> -���, . ...
<br /> � :.'s.
<br /> — �.� e�� ' � �� 1718 ALLEN COURT ORAND I9LAND, NE 68803
<br /> ����� [Property Address]
<br /> — ��"`�"' ?�� THE NOTE CONTAINS PROVISIONS ALLOWINQ FOR CHANQES IN THE INTEREST RATE — .-
<br /> �� '�"� �*"'�"��•_ AND THE MONTHLY PAYMENT.THE NOTE LIMIT8 THE AMOUNT THE BORROWER'S
<br /> —�'�`�"'"`°''" "���� � ADJU8TABL8 INTERHST RATE CAN CHANaEAT ANY ONE TIME AND THE MAXIMUIIA
<br /> - F._..��..
<br /> �'"�'`"'� � RATE THE BORROWER MUST PAY. THE NOTE AL80 CONTAINS THE
<br /> —�:, D�"'`"'°""�."�'~'� OPTION TO CONVERT THE ADJU8TABLE RATE TO A FIXED RATE.
<br /> " ��'' ._. �x,:`. ADUIT[ONAL CUVENANTS.In nddition to the covenanta and ag�eem6nts made in the Security Instrument,
<br /> -�;'°''�'�``'` �-`-"�''` Borrowcr and Lrnder further cavenant and agree es�ollows; - .
<br /> „-� G
<br /> �,��.��i'da�i.HO ^q
<br /> --�: � ' A.ApJUSTABLE RATE AND MONTHLY PAYMENT CHANGES
<br /> -;:::�� „ "'�, The Note provideti for un initial interest rute of 6.250 %.The Note provides the changes in the adjustable �,
<br /> �.'-- ` . �� � interesl�ure unJ the monthly puyments,us follows:
<br /> ... C`� :. !....9 Iy `- —.__._
<br /> -�� .� '� 4.AUJUS'1'ABL�INT�REST RATE AND MONTHI.Y PAYMENT CHANGES
<br /> � ° (A)CbonRc UAtes
<br /> =�•', ., " The uJju+tuble fntcrest rute 1 will puy muy chnnge on the first day of AUOUST . 1�93 , -_
<br /> -- . .. .. und on thut duy rvery 12th month thereAfter. Euch dute on which my adjustable interesc rate could change is �-`
<br /> —� called u"Chungc Datc."
<br /> r,;� __ � _ �a =.� {B!T6$Issslfx == -
<br /> , .��t� ,y ' . Beginning with the Yirs�Chungc Dut�,my udjutitable interest rute will be based on an Index. The"Ind�x" is
<br /> - zy'` the wcekly averuge yield c►n Unitcd Stutes Trrusury sccuri�ies udjusted to a consta�t maturity of I yeur,as mude
<br /> ,. ,
<br /> ° •�.,: � uvailaMle by thc Fedcral Rescrve B�►urd.The most recent lndex figure uvailnble nti of the dnte 45 duys before euch
<br /> :�!^ Chunge Dute is culled the "Currrnt InJex."
<br />�,�._' —
<br /> If the i�dex is no lon�cr avuiluhlc, the Notc Holder will choose u new index that is based upon comparable =
<br />— ' . infarmution.The Note Holder wil I give me notice of thiz chaice.
<br />;�,$�. ' (C)CAlculadon uf Chan�es
<br />,,�;�, _, ,• _ Before euch Chungc Dute, thc Note Hi►Idrr will calculatr my newinterest rate by udding 2.75C
<br />����2 .� " perccntugc points�•7�� `I�tu thr('urrent Indcx. The Notr Holder will then round the result of this additian
<br /> ' -! . • - to the neurest�me-eighth of�►nc prrrentu�;c puint�0.I�5�/,�.Subject to the limit�stnted in Section 4i DI below,this �^.
<br />�,�;.. . rounded amount will bc my new imere,t rute un�il thr next Chungr Date. ---,
<br /> ° ,r'r The Note Holder wiU �hen determinr th�nmuunt ut'thc m�nthly puyment thut would be sufficient to repay
<br />���° " ' thc unpaid principul that 1 um rxpertcd tu uwc:u�he Chunge Dutr in full on the Maturity Date at my new interest
<br />� `�'�' rute in suMstantial ly eyual paymrn�ti. Thc re.ult at'thiti culculution will be the new amount of my monthly ps�y- �,.
<br />��:T' . . ,. ., . ment. _
<br />--• "'
<br />�•:• ..
<br /> (D)Limits on Intcrest[tale Chun�c� —
<br />•,'a.' �� •� Thr interest rotr 1 um rrNuirrd t��p+rv ui thr lir�t Chung� Dutr will nut hc greuter than �•2��`/� or les�
<br />� . �'} • than 4•�$�� 7.. Thrr�uf'ter.m �J�utiliihlc imrir,l ratr will ix�ur Ix incrc�.,eJ ur dccrru�ed on:�ny single Change Date
<br /> a-.. • : � Y� J
<br />� A. -
<br /> by more thun TWO penentugc p��intl���• '.i�Ir,,m the rate of intcre.t I havr hrrn paying for the preceding 12 months.
<br />��'' �`''� ' My interest rate will nrvrr ix �rcutcr Ihai��-y•���'�4. which iscullydthc"Mnximum Rute." ---
<br /> • �� (E)Effective I�te of Chunu��
<br /> _ � • . �. My new interest rutc will Ixcumr rftie�i�e un�ach�'h;ui�:r Uatr. I will pu�- the umowit of my new monthly �
<br /> •� : ;:«,,, . payment bcginning on the firtit monthl�• p+i�m�nt�I:i�c +�I�cr Nie Chun�r Dute until �hc amount of my monthly ,,
<br /> � payment chunge,u€ain. �` '
<br /> '. � (F)Notice uf ChanRcs �'
<br /> Thc Note HolJer wiU d�li�rr��r nuul t�� m��,� n�,i�rr �d :iny rhuiigc. in my adjustuble intere�t rate and the �
<br /> � • ;,`� umount of my nuinthly paymrm hrti►rr Ihr rll��r�i�e d:ur��l:mi• chun�e. Thr n�itirc will includc informatinn ' .
<br /> � reyuired hy law tu hr�i�cn m�;ind nl�u thr u�lr;m�l icleph��nr nunihrr�,f a prr,on whu will�unswer any yuection �
<br /> . 1 muy huvc n�gurdinp thr nu�ir�. '
<br /> " � B,F'IX�U IN7'N:ItNti'1'NA'I'H:lll''I'I()N
<br /> � 7'hr Nate pr�»•idc• I�,r�hr linrr����ri'���pu��n i��:�m�crt Ir„m :in:�dju,�ahlc inlerr�l rute with intere.t rute �
<br /> '. limits to a fixcJ intrrc.�r:ite.:i•t�dl��«.
<br /> i
<br /> ---_- - S.N'IXN.UIlV�1N:KP11 NAIP.IIIIV�i'.Killitiiii'llii�� •
<br /> lAl Option tu Com•ert to h'ised Rutc
<br /> � I huvr u('�m�•er+iun l)pu��n �ha� I ran r�ri.i.r w�l���,I .nn in .I.•t:wli ��r Ihi. tirrtiun SiA) will n�,t prr�nit
<br /> me to do u�. 1'h� "('unr.•r.i�m U��u��+i" i, m� u��nun i�����mrit ih�• udrrr�l r.il.• I am rryuireJ tu pa� h� thi.vutc
<br /> � � frnm an aJju.iaMle r�ue a•ith inlrn�t i;il.•Inml,iu Ihr h���d iatrr:Urul:Ue�l undrr ti�rUnn SIH1 Ikli�w,
<br /> , 1'he c�►m•er�i�m�an���II� IuA�• plai�'un.�d�itei•� �p�•��f��•�1 h� Ihr NiHi Il�,ldrr Jwin��h�periud IkginninE un
<br /> � . thc fir,t ('han�r I)atr ;in�l rn�lin}� �m ihr lilth t�h.�nt�r I>.��r 1 .i.h �latr �m ��hirh m) a�lju,tahlr intcrc�l r:itr�an
<br /> ' convrrt ta thr nr�e ti�rd ratr i�rallyd Ihr'.('nmri.mn 1 t;Ur ..
<br /> ' ., ...
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<br /> � A'MFl •OB83A90 qa,t, /•�r.•�a�nu I
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