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<br /> . ADJUSTABLE RATE RIDER 92'�
<br /> (l Year'1lrewury ladex—�te C�n—Fixed Rate Coovsniqo Uptbu)
<br /> __ _ -�__�, THIS ADJU5TABLE RATE RIDER is mude thia 24TH day of JULY . 19 92 .and is
<br /> =��� '�p , incorporated lnto and shvli be decmed to umand And supplement the Martgage,Deed of Trust or Security Deed
<br /> ' '' (the "Security Instrumnnt")af the same dute given by the undersigned(the'•Borrower"> to secure Boreower't
<br /> ��°.;. Adjustable Rate Note (the •'Note")to NORWE3T MORTOAC3E, INC. , A MINNESO7A
<br /> �� • CORPQRATI QN (the •�Lender")of che avme date and covering the pro�erty deacribed In
<br /> �n�
<br /> the Security Instrument and located ut:
<br /> �.�..:�:a_-� .
<br /> - "'�^5 4250 BRANp I NI3 I RON GOURT [iRAND I SLAND, NE 68603
<br /> ����'�� [Property Addre.rs]
<br /> - -� ��`sv°+�: THE NOTE CONTAINS PAOVI810N3 ALLOWING FQR CHANOL8 IN 1'HE INTERE$Y RATE
<br /> --�'��'� AND THE �ONTHLY PAYIAENT. THE NOTE LI�IIIT3 THE AMOUNT THE 80RROWER'8
<br />�•�'`'-���L°��i4 ADJUSTABLE INTEHEST RATE CAM CNANGE AT ANY ONH TIML AND THE 111AXIYUM
<br /> '�`����`�-K���� RATE THE BORROWER MU8T PAY. THE NOTE AL80 CONTAIN8 TIi6
<br /> ���_� y� OPTION TO CONVERT THE ADJUSTA81.8 RATE TO A FIXBD RATH.
<br /> -�..�:.., ., •.�
<br /> �;�"'�,ti_�__ ADD1TInNAL COVENANTS.In Addition ro the covenants and a�reements made in th�Securlty Ihatruwent.
<br /> ��^ ••� =_,. .: �,� Borrawer And Lender furthe�covenAnt and agree as follows: �
<br /> �
<br /> —�E� ..�+; •• ,td•� .
<br /> -��'f'-'.-:-.�::. . -+�•.�� A.ADJUSTABLE RATE AN D MONTHLY PAYMENT CHANGES
<br />--_��t`�*�'="°' � •r The Note provides for an initiul interest rate of 5.500 �.The Note provldes the changes in t6e adjuetobla
<br /> R.'�,"�..,?�Y����A" • Interest rnte And she monthly p�yments,as follows: •
<br /> .,��; ,.� .
<br /> . � „�;,s,;,.,n . � 4.ADJUSTABLC INTEREST RATE AND MONTHLY PAYMENT CHANGES
<br /> _-� �, :�.�... .b d- � (A)Chaage Dates
<br /> �� ��•r���•�� �� "�. The adjustnble fnterest rnte 1 will puy may change on the�rst dny of AUOUST . 1993 .
<br /> � =����''`°''�' 6 � � und on thnt day every 12th month thereufter. Euch date on which my adjustable interest rate could chua�e ia
<br /> - �•� �"��'='�'""' ""' called u"Change Date."
<br /> _w.�.;�:;����r.�v:=;": - i8)Tlsc it�cx
<br />'��;�„ { � h,.•�.,�..` Beginning with the Grst Change D�te,my udjustAble interest rate will be based on an Index.The"Index" is
<br /> �� � •`•�'� •� b the weekly aver�ge yfeld on United Stntes Treasury securities udjusted to A constant maturity of 1 year,us made
<br /> _ �� �;;,�,�,.a_,;•., avAilnble by the Feders�l Reserve Bourd.The moat recent Index�gure Availuble us of the date 4S days before euch
<br />- , 4,��, ,:„;�„k: Chnnge Dnte is culled the"Current Index."
<br />- . . ..� • If the index is no longer�►vailable,the Note Holder will choose a new index that is bnsed upon comparable
<br />- �� 5`��• '' � information.The Note Holder will give me notice of thi�choice.
<br /> �"''''�z`� � � (C)Calculatlon of ChAnRes
<br /> �;�
<br />- Befare euch Chonge Dute. the Note Holder will culculute my newinterest rate by adding 2.750
<br /> '�.. ti����' percentuge points�.750 �k)to the Current Index. The Note Holder will then round the result of this uddition
<br /> _ � • � �� '� to the nearest one-eighth of one percentage point(0.125���.Subject to the limits stnted in Sectian 4(D)below,this -
<br /> •� -�;•.a,,,;.����„ i rounded umount will be my new interest rate until the ncxt Chungc Dute.
<br /> ' , `"'�„ The Note Holder will then determine the umount of the nx�nthly payment thnt would be sufficient to repuy
<br />_'. , , the unpuid principal that I nm expected to owe at the Chunge Date in full on the Muturity Date at my new interest
<br /> ,.,..
<br /> � rate in substuntially equul payments. The result of this calculntion will be the new umount of my monthly puy-
<br /> � `• ' ment.
<br /> . (D)Limlts on Interest Rs�te ChanRes
<br /> � � . The interest rnte 1 am reyuired to p�y ut the fir�t Change Date will not hc greutcr than 7.500�k or less
<br />-: � " ° than 3.:0�� �I�. Thereufter,my udju.tuhle interetit ru�r will never be increaseJ ur drercu�ed on uny single Chon�e Dute
<br /> ' �-�� ' by more than TWO percentuge poinpxl�'. �)from the rute of interest I huve l�ren paying for thc preceding 12 months.
<br /> , ?��'. My interest rnte will never be grc�ter tha�i 1.�00�, which is called the"Msueimum Rate."
<br /> _ '"-•'''' (El Et'i'ective Dsite otCtwnges
<br /> `� • M� new interest rate will tkcome rFfectivr on euch Change Datr. I �vill pay thc arnount of my new monthly
<br /> , puyment beginning on the first monthl�• puyment J�te ufter the Change Date until the amount of my monthly _
<br /> payment changes again.
<br /> � .' •' IFl Noticc oiCfwn�es
<br /> The Note HoWer will deli�•rr or muil ta me u noticr ot'any rhangr. in my adju+tuble interest rute and the
<br /> •� • amount of my monthly paym�nt brforc thr rfFerti�r date of any changc. The notice will inrlude information �
<br /> required by luw to be givrn me anJ ul,o thr�idc and trlrphone numt+rr of u person who wil l�nsv►�er any question
<br /> �; 1 m�y huve reganiing tlx notice.
<br /> • B.FIXED INTER�S'I'ltATE OPTION
<br /> ' ' Thc Note pm�•iJe� fvr the Bnrruwer'� aptian ta comcrt from �n adjusts►blc intere+t rate with interest rate
<br /> � limits tua tixrd int�re.t ratr,a.follnN,: -
<br /> , S.FIXED INTERFST RATF.CON�ERtiION OPTIQN
<br /> ' �� IA)Option to Cam•crt tu Fixcd Rs�tc
<br /> • a 1 hAVe a Comer.iun Op�iun that 1 ran r�rrri>e unl�,. I um in Jrf'ault ur thi. Srrti��n SiA� ��ill n�it permit ,
<br /> .� „ me to do+o.The "Comcr�ion Option" i. nn uptiun tu run<<rt the intrre.t rutr I am rryuir�J to puy b� thi,N��te
<br /> -�___�__ !'mstt:ut•a�lju5tstile rate 1+•it!e inten�t rate limit�to the litr�l ratc r.dculatrd unJer J�titian�(n!brl�����.
<br /> � The rumrr.ian cun onh•t:�Ae pla�e�m a J•rtri.l�pecified h� thr Not� H��Wrr dunng th�p�riud tnginnin��m
<br /> the fir�t Chan�e Date unJ endin�un thr fifth C'hanEr D:l[t. E�l'FI �I:l[� un ��hich m� adjustahle interr,t rat�ran �
<br /> , •� � , . �romer�to tlx neH•fixe�rutr i+caUrJ thr"Comenion Datr."
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