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201105611
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Last modified
9/14/2011 12:31:10 PM
Creation date
8/1/2011 9:01:51 AM
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DEEDS
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201105611
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20�1056�� <br />installments of principal and interest upon each and every Monthly Due Date during the <br />term hereof, through and including the Maturity Date (as defined in 14.2). <br />1.2.1 Initial Installments. The amount of each monthly installment due <br />and payable on the first Monthly Due Date and the next One Hundred Nineteen <br />(119) Monthly Due Dates thereafter sha11 be One Thousand Six Hundred Sixty <br />Three and 94/100 Dollars ($1,663.94). <br />1.2.2 Subsequent Installments. The amount of each monthly installment <br />(other than the Final Installment as defined in 1.2.3) due and payable upon each of <br />the twelve Monthly Due Dates following each Change Date shall be, as <br />determined by Lender in Lender's sole discretion, either (i) the amount previously <br />determined by Lender to be due and payable upon the Monthly Due Date <br />coinciding with such Change Date or (ii) the amount (determined by Lender) <br />which shall be sufficient to repay in full, by the Maturity Date, the outstanding <br />principal balance owing hereunder on such Change Date, together with interest <br />thereon at the Variable Interest Rate esta.blished for such Change Date, in equal <br />monthly installments. <br />1.2.3 Fina1 Installment. Borrower sha11 pay to Lender, on the Maturity <br />Date, a final installment (herein referred to as "Final Installment") of a11 amounts <br />then owing and unpaid under this Promissory Note, including (i) the full unpaid <br />balance of the principal sum, (ii) all accrued and unpaid interest, and (iii) any <br />penalties payable under the terms of this Promissory Note. Notwithstanding the <br />preceding sentence, instead of making the payment on the Maturity Date as <br />described above, Borrower may be permitted by Lender, in Lender's sole <br />discretion, to continue to pay monthly installments in an amount that is at least <br />equal to the amount of the last monthly installment preceding the Maturity Date, <br />as determined in 1.2.2, until all amounts owing and unpaid under this Promissory <br />Note, including (i) the fuA unpaid balance of the principal sum, (ii) all accrued <br />and unpaid interest, (iii) any penalties payable under the terms of this Promissory <br />Note, are paid in full; provided that in no event shall the amount of any such <br />monthly installment payable on or after the Maturity Date be less than the amount <br />(determined by Lender) which shall be sufficient to repay in full, by the date that <br />is twelve (12) months after the Maturity Date, the outstanding principal balance <br />owing hereunder on the last Change Date preceding such monthly installment, <br />2 <br />
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