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r <br />roNS'I'teu~~'rtoN x1u1sR 'ra ~'-= f~~~17~ <br />RKNE:GO'1' IfAliLl: RAPE NO'PI; <br />IA connection with the Renegotiable Rate Note and the <br />Building Loan Agreement executed by the undersigned Borrower <br />and of even d..te herewith, torrower agrees as follows: <br />1. Prior to the first r.:caul~r men ugly principal and <br />• interest payment under this i~utc, inlur~st on any funds dis- <br />' bursed during construction shall be payable monthly as billed <br />by the Association. <br />2. Any default under the Suiiding Loan Agreement as <br />faiiuse to complete the in~t~rov,~ments tt~tirc'in provided €os by <br />the date of the first regular monthly principal and interest <br />payment shall constitute a default under this note and the <br />mortgage securing it. ~. <br />Datedt Sel:tember f ~ 19iiG •• <br />,~ ~ <br />,.z-~ <br />borrower <br />--~~ <br />t3o over <br />M-201 a <br />---- -- ----z <br />i <br />