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200300320
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10/15/2011 2:03:01 PM
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10/21/2005 3:49:49 PM
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DEEDS
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200300320
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209300 20 <br />(3) Borrower's Failure to Pay as Required <br />(A) Late Charge for Overdue Payments - If the Jote Heir gr has not received the full amount of any <br />monthly payment by the end of 15 caleq ar days after the date it is due, a late charge of <br />5 _% of the principal and interest payment, veill be aslessed. <br />(B) Default - If the borrowers do not pay the full mount (if each monthly payment on the date it is <br />due, they will be in default. They will also be in default if they do not keep the promises and <br />agreements under this Agreement and Consolidated Mortgage. <br />(C) Notice of Default - If the borrower is in default, the Note Holder may send a written notice stating <br />that if the overdue amount is not received by a certain date, the Note Holder may require a <br />payment immediately of the full amount of principal which has not been paid and all the interest <br />that had accrued. That date must be at least 30 days after the date on which the notice is <br />delivered or mailed. <br />(D) No Waiver by Note Holder - Even if, at a time of default, the Note Holder does not require the <br />immediate payment, as stated above, the Note Holder will still have the right to do so if the <br />borrower is in default at a later time. <br />(E) Payment of Note Holder's Costs and Expenses - If the Note Holder has required an <br />immediate payment, as described above. The Note Holder will have the right to be paid for all of <br />its costs and expenses in enforcing the Note to the extent not prohibited by applicable law. <br />Those expenses include, for example, reasonable attorney's fees. <br />(4) Borrower's Right to Prepay <br />(A) Borrowers Right to Make Prepayments - The borrower has the right to make payments of <br />principal at any time before they are due. A payment of principal only is known as a <br />"prepayment ". When a prepayment is made, the borrower will tell the Note Holder in writing. The <br />borrower may make a full prepayment or partial prepayments without paying any prepayment <br />charge. The Note Holder will use all of the prepayments to reduce the amount of principal that is <br />owed under this Note. If the borrower makes a partial prepayment, there will be no changes in <br />the due dates or in the amount of the monthly payments unless the Note Holder agrees in writing <br />to those changes. <br />(B) Cancellation of Other Prepayment Terms -Any terms contained in the Consolidated Note <br />about my right to make prepayments which do not agree with this Section (4) are canceled by <br />this Agreement. <br />(6) Loan Charges - If a law, which applies to this loan and which sets maximum loan charges, is finally <br />interpreted so that the interest or other loan charges collected or to be collected in connection with this <br />loan exceed the permitted limits, then: (i) any such loan charge shall be reduced by the amount <br />necessary to reduce the charge to the permitted limit, and (ii) any sums already collected from the <br />borrower which exceeded permitted limits will be refunded to the borrower. The Lender may choose to <br />make this refund by reducing the principal that is awed under this Consolidated Note or by making a <br />direct payment tot he borrower. If a refund reduces principal, the reduction will be treated as a partial <br />prepayment. <br />(6) Giving of Notices - Any notice that must be given to the borrower under this Consolidated Note will be <br />given as provided in the Consolidated Mortgage. <br />(7) Waivers - The borrower(s) and any other person who has obligations under this Consolidated Note waive <br />the rights of presentment and notice of dishonor. "Presentment' means the right to require the Lender to <br />demand payment of amounts due. "Notice of dishonor" means the right to require the Lender to give <br />notice to other persons that amounts due have not been paid. <br />(8) Unchanged Terms of Consolidated Note in Full Effect - All of the terms of the Consolidated Note that <br />are not changed in this Agreement remain in full effect as if they were stated in this Agreement. <br />V. AGREEMENT OF TERMS OF THE CONSOLIDATED MORTGAGE <br />Lender and Borrower agree to change the terms of the Consolidate Mortgage. The new terms of the Consolidated <br />Mortgage are the security instrument terms that are set out in Exhibit (D) to this Agreement. However, the terms of <br />the Consolidated Mortgage prior to this change that are not inconsistent with the security instrument terms set out in <br />Exhibit (D) shall also continue in effect. <br />VI. BORROWER'S INTEREST IN THE PROPERTY <br />The borrowers certify that they are the lawful owner of the property stated in Exhibit (G) of this document. <br />VII. WRITTEN TERMINATION OR CHANGE OF THIS AGREEMENT <br />This Agreement may not be terminated, changed, or amended except by a written agreement signed by the party <br />whose rights or obligations are being changed by that agreement. <br />VIII. OBLIGATIONS OF BORROWERS AND OF PERSONS TAKING OVER BORROWER'S OR LENDER'S <br />RIGHTS OF OBLIGATIONS <br />If more that one person signs this Agreement as Borrower, each are fully and personally obligated to keep all of the <br />Borrower's promises and obligations contained in this Agreement. The Note Holder may enforce its rights under this <br />Agreement against each individually or against all together. The Lender and Borrower agree that any person who <br />takes over the rights and obligations under this Agreement will have all rights and will be obligated to keep all <br />promises and agreements made in this document. Similarly, any person who takes over Lender's rights or obligations <br />under this Agreement will have all of the Lender's rights and will be obligated to keep all the Lenders agreements <br />made in this document. <br />By signing this Agreement, the Lend, er�andYBorrower agree to all of the above. <br />Columbus Federal Savings Bank <br />V.- ;.....:y <br />RJ��TF., <br />_N_IWABankFirst <br />B <br />IRCORPORAIFO '• <br />Jeanne Jones, Vice President <br />�'p�,•. Scnr_ •. G.E <br />
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