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<br /> 3. Monthly Pa,x et�nts. Subject to adjustment as provided in the Note, commencing
<br /> ,Tune 1, 1999 , and continuing on the first day of each month thereafter until the New Principal,
<br /> interest and all other payments required under the terms of the Loan Documents are paid in full, Borrowers
<br /> shall pay to Lender monthly payments of principal and interest in the initial amount of
<br /> Four Hundred Thirty. Dollars and fifty-seven cents
<br /> ($ 430.57 ) each. Borrowers shall also pay monthly escrow installments to Lender in the initial
<br /> amount of One Hundred Ninety Dollars and Thirty cents
<br /> �g 190.30 ), which shall be adjusted as Lender deems necessary from time t'o time under the
<br /> terms of the Loan Documents. Accordingly, the total initial monthly payment shall be
<br /> Six Hundred Twent Dollars And eighty-seven cents
<br /> ( 620.87 ) subject to adjustment in accordance with the Loan Documents.
<br /> 4. �xtension of Term. The Maturity Date of the Note and I�eed of Trust is hereby extended
<br /> from June 1, 1999 to May 1, 2029 , on which date all the remaining unpaid principal, interest,
<br /> and other sums due under the terms of the Loan Documents, as modified lierein, shall be lmmediately due
<br /> and payable to the Lender in full.
<br /> 5. Renresentations bkBorrowers. Borrowers have no defenses to the rayment of the Note,
<br /> the performance of the strict terms of the Deed of Trust, or rigl�t of offset or claim against Lender and its
<br /> predecessors-in-interest. Borrowers specifically acknowledge a�xl agree tl�at Lender and its predecessors-
<br /> in-interest have performed each and all of their respective obligations, conm�ihnents, and agreements under
<br /> the Loan Documents and all other agreements related to the indehtedness, both written and verbal, direct
<br /> or imnlied, up ro and including the date of this Agreement, that they are not in default in the observance
<br /> or performance of any obligation, commitment, agreement, or covenant, exrressed or implied, including,
<br /> but not limited to, covenants of good faith and fair dealiug, to be observeJ or performed by any of then�
<br /> under the foregoing, and that no facts exist and no event has occurred which now or hereafter will
<br /> authorize Borrowers to terminate the loan, to fail or refuse to abide by tlie terms of tlte Loan Documents,
<br /> or form the basis, in whole or in part, for a claim of any kind includii�g, but not litnited to, lack of good
<br /> faith or fair dealing against any of them.
<br /> 6. pefault. Any default by Borrowers under tl�is Agreemeiit slial) also constitute a default
<br /> under the Loan Documents, including the Note and tl�e Deed of Trust. Any default by Borrowers under
<br /> the Loan Documents as modi�ed by this Agreement, sl�all constitute a default under tliis Agreement. In
<br /> the event of any such default, L.ender shall be entitled to exercise all of its remedies hereunder and under
<br /> the Loan Documents, and at law or in equity.
<br /> 7. No Further Comtnittnent. Borrowers hereby acknowledge and agree that this Agreement
<br /> modifies the Note, the Deed of Trust, and the Loan Documents only to the extent and on the terms set forth
<br /> herein, and this Agreement is not, nor shall it, be construed as a commitment by Lender to modify the
<br /> Note, the Deed of Trust, or any of the Loan Documents securing the Note in any other respect. Borrowers
<br /> further agree that Borrowers are precluded from claiming that any prior written or oral negotiations,
<br /> discussions, comments, questions, or representations not specifically incorporated into this Agreement or
<br /> the Loan Documents are binding upon Lender. Furthermore, none of tl�e same shall in any manner what-
<br /> scever be deemed to modify or constitute a waiver of the rights and obligations of the parties as stated in
<br /> the Loan Documents or this Agreement.
<br /> 8. F�ll Force and Effect. Except as otherwise modified herein, each and every provision of
<br /> the Note, the Deed of Trust, and all other Loan Documents shall be and remain in futl force and effect as
<br /> previously modified. Borrowers hereby reaffirm the Loan Documents and agrees to perform the obliga-
<br /> tions thereunder as they become due, as modi�ed hereby.
<br /> 9. Bindi Effect. This Agreement shall be binding upon and inure to the bene�t of the
<br /> parties hereto and their respective heirs, personal representatives, successors, and permitted assigns.
<br /> 10. Arm's Length Negotiations. The parties hereto have coiiducted arm's length negotiations
<br /> resulting in this Agreement with the goal at the present time and under tl�e current circumstances, among
<br /> other things, of avoiding the necessity of Lender foreclosing under its Deed of Trust, of avoiding the
<br /> possibility of deficiencies, and of avoiding related costs, expenses, and delays.
<br /> 1I. Fl�rther Assurances. Borrowers agree to execute and deliver such documents and to
<br /> perform such other acts, rromptly upon request, as Lender requests and which are, in Lender's reasonable
<br /> judgment, necessary or appropriate to effectuate the purposes of this Agreement. This Agreement and any
<br /> mPmnr�n�i��m hArP.�f mav hP filP�i an�i rec�rciP�i hv T,ender with anv ecivernmenta) a�t:.ncy or other public
<br />
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