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88- 105043 5. IIORROWER'S R1GIIT TO PREPAY I have the riSht to make payments of principallu any time before they arc due. A payment of principal only is known as o,"prepnymc'1l." When I make: a prepayment, I will tell the Note' Holder In writing that I am doing so. I may make a full prepayment or B partial prepayment without paying any penalty. The Note Holder will use all of my prepayments to reduce the amounl or principal that I owe under this Nole. If I make n partial prepayment, there will be no delays in the due dates of my monthly payments unless the Note Holder qrres in writing to those delays. My partiel prepayment will reduce the amount of my monthly payments after the first Change Dale following my partial prepayment. However, any reduction due to my partial prepayment may be offset by an interest rate increase. 6. WAN CIIARGES If a law which applies 10 this loan and which sets maximum loan charges is finally Interpreted 50 that the interest or other loan charges coUe..:tcd or to be collected In connection with this loan exceed the permitted limits, then: (i) any such loan charge shall be reduced by the amount necesslll')l to reduce the charge to the ~nniued limit; and (i1) any sums already collccted from me which exceeded penniued limits will be refunded to me. The NOle Holder may choose [0 makc this refund by reducing Ihe rrincipal I owe under this Note or by making a dircct payment to me. If a refund reduces principal, the reduclion will be treated IlS a partial prepayment. 7. BORROWER'S FAILURE TO PAY AS REQUIRED (A) Late CJaarae for Overdue' Paymrnla . If the Note Holder has not received the full amOUR[ of nny of my monthly payments by the end of F 1 fteen after the date it is due, I will pay a late charge 10 the Note Holder. The amount of the charge will be t 1ve payment of principal and intcresl. I will pay this late charge promptly but only once on any late payment. calendar days 1170 of my overdue (8) llef..U If I do not pay the full amount of each monthly payment on the datc it is due, I will be in default. (C) Noder of Default If 1 am in default. the NOle Holder may send me a written norice telling me that if I do not pay the overdue amount by a certain date the Note Holder may require: me to pay immediately the full amount of principal which has nOI been paid and all the interest that I owe on that amount. That date must be at least 30 days after the date on which the notice is mailed or delivered to me. (0) No Waiver b,. Nole Holder Even if, at a time when J am in default. the Nole Holder does not require me 10 pay immediately in full as described above, the Note Holder will still have (he right 10 do so if I am in default at a later time. (E) Paymeal of Nolr Holder's Coab and Ex~Dles If the Note Holder has required me 10 pay immediately in full as described above. Ihe Note Holder will have the right to be paid back by me for all its reasonable costs and CJlpense.~ 10 the extent not prohibited by applicable law. Those expenses may include, for example. reasonable anomcy's fces. I. GIVING OF NOTICES Unless applicable law requircs a different method, any notice must be given 10 me under this Nole will be given by mailing it by first class mail or by delivering it to me at the Property Address above or at n different address if I give the Note Holder a notice of my different address. Any notice that mwt be given to the Nole Holder under Ihis Nole will he given by mailing it by fint class mail to the Note Holder 01 the address statr:d in Seclion 3(A) above or aL a different address if lam given n nolice of thai different address. 9. OBLIGATIONS OF PERSONS UNDER TIllS Non; If more than one person signs this Note, each pcrson is fully and ptrsonally obligated to keep all of the promises made in this NOle, including the promise to pay (he full amount OWL-d. Any person who is a guarantor, .~urety, or endorser of this NOle is also obligated 10 do these things. Any person who takes over these obligations including the obllglltions of II guarantor, surely, or endorser of this Note, is also obligated to keep aU of the promises made in Ihis Note. The NOle Holder may enforce its rights under this NOle against each person Individually or againsl aU of us together. This means thai anyone of us may be required to pay all of the amounts owed under lhis Note. 10. WAIVERS I and any othcr pcrson who has obligations under this Note waive the rights of presentment and notice of dishonor. "Presentment" means the righltO require the Note Holder to demand payment of amounts due. "Notice of dishunor" means the right to require the Nole Holder to give notice to other persons that amounts due have nol been paid. 11. THIS NOTE SECURED BY A SECURIT\' INSTRUMENT In addition to the protectioD5 given to the Note Holder under this NOle, a Mortgage, Deed of Trust. or DCt.!d to Secure Debt (the "Security Instrument") with an Adjustable Rate Rider, dated the same dny as this Note, prolects the NOle Holder from possible losses which might result if I do not keep the promises which I make in this Note. That Security Instrument and Rider describe how and under what conditions I may be required to make immediate payment in full of all amounts Lhat I owe under this Note. Some of those conditions arc described as follows; "Transfer of the Propcny or a Beneficial Interest in Borrower." If all or any part of the Property or an interest therein Is sold or transferred (or if a beneficial intercst in Borrower is sold or transferred and Borrower is not u natural person) without Lender's prior written consent, Lender may, at Lender's option, declare all the SUfm sC'CUrcd by this Security fnstrument 10 be immcdialcly due Bnd payable. However. this option.shall not be excrcisu1 by Lender if excrcise is not authorized by Federal law. Lender may waive the exercise of this oplion if: (a) Borrower causes to be submitted to Lender information required by Lender to evaluate the intended transferee a~ if a new loan wcre being made to the transferee; and (b) Lender reasonably determines thai Lender's security will nOI be impaired by Ihe loan as.~umption and thai the risk of a breach of any covenant or agreement in this SecurilY Instrument is acceptable to lender. To the extent pcnniucd by applicable law, Lender may charge a reasonable fee as a condition 10 lender's consent to the loan assumption. Len-Jcrmay also require the transferee 10 keep alllhe promisl:S and agreements made in the Note and in Lhis SecurilY Instrument. "If Le:oder exercises such option to accelerate, Lender shall mail Borrower hOlice of acceleration in accordance with paragraph 14 her~of. Such notice shall provide a period of not less than 30 days from the date Ihe nolke is mailed within which Borrow~r mllY pay the sums declared due. If Borrower fails 10 pay 5ueh sums prior to Ihe expiralion of such period. lender mall, without fUf1her nOlice or demand on Borrower, invoke any remedies pcnniued by this Security Instrumenl. " "Notwithstanding a &ale or transfer. Borrower will continue to be ohli[!:Btcd under lhe Note and [his Security In.~trument unleioli Lender haS) r~::. ::~::~~;::~''''II'I.llb''ndml.nrd.J1V LL'viQ. \XV l..k-\. 1,f(~O" ~ ~~~11d L. 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