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<br /> S, f1t1RltOV1'F;R'S RiGHT TO PREPAY
<br /> � 1 htive U�r right ta makc paymcnts of principal at any timc brlc�re thc}•a�r due. A paymrnt oP prinripal anly is kno��•n n�a"prc�:+vmcnt.••
<br /> When 1 make a Urrpa��meat,l xill teU tl�e Notr H�Id:r in�vrlting that I am doinq�o.
<br /> � 1 ma1 mahe a full prep�vment or a t+�rtiul prcpaymcntµitltnut pnying:+ny penal�y. The Note Naldc��.iU use au �t ��►�•��e�aym�ni: �.�
<br /> � reduce thc amount of principal that 1 owe under this Note.If 1 m;►ke a pani�l prernymen►,there�till he no defays in the duc da�«uf n�y munth{y
<br /> � � pay�trtents unttss thc�liite Hol:ler agrae�in w�ii+ng to thn�c drlays.11c partial prepaymrnt will reduce the amouai nT my manthly payments after
<br /> �Q the first Changc D�tc fo11aN•ing my partial prrpayment. Ho�cc�•ce,any redu�tion due to my partial prrpaymcnt may be offsct hy an intcrest rate
<br /> Q incrcasr.
<br /> � 6. LOAIV CHARt:f:.ti
<br /> If a law which applies ta thi�loan:�nd w•hich�etc marimum lo�n char�es is finally interpreted�a that the interes: or �the� laan charge�
<br /> �collected ar to be callcv�ted in rnnncti�ion��•ith this foan etcred the permitted limits,�hen:(U any such lonn charge shall be reduced by the nmount
<br /> QQ necessary 1a reduce the charge to the permittcd liiuit; and (ii) any sums already collected from me which exceeded permiued limits �ti�ill be
<br /> �� refunded to mr. 'Phc Notc Nolder ma�•choosc ro make this refund hy rcduring the principal ! o»c undcr this Note ot b�m�king:� direct
<br /> payment ro me. If a refond rrdu:es princi�+al,the rr�iuction a�ill he treated a;:+partial prepa}ment.
<br /> 7. BORROVI'ER'S FAILURF.TO PAY :15 Rr:Qi11RED
<br /> (A) i.flir Choigr iut O�erdue Pa}utrnl�
<br /> lf the Nate Holdcr has not recei�•ed the full amount of an}•��f ir�y monthly�sayments by the end af f��___calendar day�s
<br /> after the date it is due, 1 wilt pay a Inte charge t�the Noce l�utder. Thr am��unt ut' the cha�Ee ��ill he � �'o ot my o�•erdue
<br /> � payment of principal and intertst.1 wifl pay this late charFe promptly but only�aue on.�ny late paymen�.
<br /> � (B) Def�ull
<br /> , !f 1 do nat pay the tLll amoont of each monthly payment on the da[e ic is due,l will bc in default.
<br /> (C� Nodcr ai Default
<br /> : if 1 am in default,the Note Holder may send me a written notice teUing m;that if I do not pay the overdue amount by a ccrtain date
<br /> ' thr Note Holder may require rne to pay immediately the fu?I amount of principal»•h^ch has not been paid and all flhe interat that I o�ve on that
<br /> amount.That date must be at least 3(1 days after the date on which the notice i:mailed or delivered to me.
<br /> � (D) Na WNver by Note Holder
<br /> ' Even if,at a time v►�en I am in default,the Note Holder do�,•s nat require rne to pay immediately in full as described abo��e.the Note
<br /> Holder will stip have the righa ta do so if I am in default at a later time.
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<br /> (E) Payment of Note HoWer's Cosb sad Eapenses �
<br /> , If the Note Hotder has required me to pay immediately in fuiias described above.the Note Holder will have the right to be paid back `'�
<br /> j by me for all e�si reasonable costs and expensp to tht extent not ptohibited by applicable law. '�tsose expenses, may incDude, for exampie, � ;�-
<br /> i eeasanahle attornet's fees.
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<br /> : a. GIYIIVG OF N01'ICFS ' : l
<br /> , Uniess applicable law requires a different method.any notia must be given to me under this Notc will be given by mai�ing it by�rst class f
<br /> mail or by delivering it to me at the Property Address above or at a dif�'ennt address if 1 give the Note Holder a nodce of my difEerent address.
<br /> Any nodce that must be giren to the Note Holder under this Note will be givea by mailing it by first class mail to the Note Holder at the . ,
<br /> addtess stated in Section 3(A}above or at a differeni addtess if 1 am given a noiice of t6at different address.
<br /> � i. OBLIGATIONS OF PERSONS UNDER THIS NOTE -
<br /> If more ttcan one person signs this Note,wch person is fuliy ar�personally obligated to icap sU of the promises mack in this Note,
<br /> • including the promise to pay the full amount owed.My person who is a guazantor,surety,or endorser of this Note 3s also obligated to do tteese �
<br /> ' things.My person�vho taka over thae obligations including the obligations of a gt�arantor,surety.or endorser ceE this Note,is also obEigdced
<br /> ' to keep all of the promises made in this Note.The Note Holder may enforce its rights under this Note against each person individually or against
<br /> all of us together.This means that any one of us may be required to pay a11 of the amounts owed under this Note.
<br /> 10. WAIVERS � �
<br /> I and any other person who has obligations under this Note waice the righu of presentment and notice of dishonor."Presentment"�eans •-�-
<br /> the right to require the Note Holder to demand payment of amounts due. "Notice of dishonor"means the right to require the Note Holder to
<br /> give noticr to other persons that amounts due have not been paid. � -
<br /> 11. THIS N01E SECURED BY A SECURITY INSTRLIME.'�'�' , •
<br /> ln addition to the protections given to the Note Ha�(des under tY�.is Note,a Mortgage,Deed of Trust.or Dkr+c!to Secure Debt(the"Secvrcty ' . _
<br /> instrument"$w-ith an Adjustable Rate Rlder,dated the suae day as this Note,protects the Note Holder fro�pctssib➢e tosses which might result
<br /> if 1 do not keep the promises which 1 make in this Note.That 5ecurity�instrument and Rider drscribe how and ander what conditions 1 may be
<br /> required to malct immediate payment in full of all amounts thai 1 owe uuder this Note.Some of those conditions are described:as follows:
<br /> , "Transier of che Property or a Beneficial Interest in Borrower." If all or any part of the Property or an lnterest therein is sold or
<br /> transferced(or if a bene�cial interest in Borrower is sold or transfened and Bonower is not a natural person)wlthout Lender's prior written
<br /> oonsent,L.ender may.at Lender's option.deciare all the surns secured by this Security Instrument to be immediately due and payable.However,
<br /> this option shall no2 be exercised by Lender if exercise is not auchoriud by Federal law. Lender may waive the exercise of this option if: (a)
<br /> � Bonower causa to be submitted tu i.ender information required by Lender to evaluate the intended transfera as if a new loan were being made
<br /> to the transfere�:and(b)Lender reasonably dettrmines that Lender's security will not be impaired by thr loan assumptian and that the risk of a
<br /> breach of any covenant or agreement in thic Secur�ty Instrument is acceptable to Lender.
<br /> � To the extent p�ermitted by applicablc law,l.ender may rharge a reasonable fec a�a condition to Lender's consent to the loan assumption. r_,-_—__-
<br /> L,ender may also tequire the tca�sferec so keep all the Fromises and agreemen�s madc i��thc Note and in this Security Instrument.
<br /> "If Lender exer�;iszs such optian ta aeceleraie,Lender shall mail Rorro�ver nouce of acceleration in accordance with patagraph 14 hereof. '
<br /> � Seteh notice shall pro�•ide a period of ttot less than 3U days from the date thr notice is mailed within which Borrower may pay dte sums declared �
<br /> d�Y. If Borrower fails to pay such sum+prior to the e�piration of tiuch period, l ender may, without further notic�r or demand an Borrower,
<br /> in�oke uny rernedies�rm�tted hy this tie�urity Imcrun�r�n."
<br /> "N�twithst�nding a tale ar tra�tsfer,l3orrower Nill continuc u�be ubli5atcu under thc Notc and Ihis f',ecutity strument untess Lender has
<br /> Lrcleaccd f3c�rrowcr in�.riti�tig." �
<br /> N�itenv aed handlsl and scpl(s1 nf thr under�i ned. �� �� /
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