98104791 - Laserfiche WebLink

Browse

SC�ULE I This vote shall be payable as follows: � 9$- 1��4'791 (a) No paymeat or inte�,,st shall be due or earned on said Note during the time the Niake:s occuny said property, as describe� in the Second Deed of Trust, unless 1�ia.ken shall prepay or refinance the loan sec•ared by the F'�rst De�d of Trust from l�fake:s encumbering the Propezry dated on or about the date he:eof (the "First Deed or Tnist"), in which case, Makers shall pay the principal on this Nate in accordanc� with (b) beiow. (b) Payments of principal shall be due and payable upon sale, transfer, foreciosure or transfer pursuant to any power of sale of the Property, or a refinancing or prepayment of the loan secured by the First Deed of Trust, which occurs during the periods set forth beiow, as follows: 9'0 of Period Principal Due Date of Note to and including third anniversary date ot Note 100 0 Suoseaueat to third anniversary date to and includinQ si�cth i5 0 annive:sarv date or vote Suoseaue�t to six�h annive:sary aate to and includinQ �inth �0�'0 anniversarv date or Vo�e Suoseauent to ninth annive:sary date to and inciuding eleventh 25 0 annive:sarv date or �1ote Suoseauent to eieve:�th anniversary date of voce, this Note 0 0 shall be de�med paid in full (c j If all or any part or the Property or interest is sold or transferred by Makers, paymeat determined in accordance with paragraph (b) shall be immediateiy due and payable, e�cluding: (i) The creaaon of a lien or encumbrance subordinate to the Second Deed of Trust. (u) The creation of a purchase money security intere.st in household appliances. (iu) A transfer by assumption in accordance with the Second Deed of Trust or that First De� of Trust from the Makers encumbering the Property dated on or about the date hereof.