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soncillc. Fturil:~ 3-_'-?U?, or at suct~ otlicr pl:?rc as Payc~; may designatc to
~lal:er iu ivrituwg from timc to time, in tcbal te~idcr of the Unitcd States,
the Amount of t6e \ot,e or so much thercof as may be advanced ( the
"Principal AmounC) by the Payee pursnant to a lo:u~ agreement (the
'Loan Agrc.~:ment°), dateci the date hereof, lx~t~~een l~taker and Payee, ta
gether ~ith interest at the Interest P.ate on d~e Principal Amount from
timc t,o tune unpaid, papable monthly on the first day of the first month
folloaing the fust advance under the Loan Agreement and on the first day
of each month thereafter until the 14laturity Date, after which interest shall
be innn~ediatrely due az~d payable.
T6is 1~Iote is secured by the lien and provisions of a certain mortgage
a~r deed of t~u.st ( the `Security Instrument") executed and delivered by
~ialer a~d encumbering the property as indicated below.
~ Maker consents ~o the release of all oz any part of the security for the
paj-ment hereof, or the release of any party liable for this obligation. Any
I i such modification or release map be made without notice to Maker and
. vvithout dischazging 111aker
s liability.
If any monthly inst ~~m~nt of interest is not paid when due and such
installment of interest shall remain unpaid for a period of fifteen (15)
F~ days aftier written notice thereof has been given by the holder hereof to _
Maker as provided in the Securitq Instrument, or if an Event of Default .
~as defined in tbe S~t~ty InstrumeAt) shhall occwr, the holder hereof may,-
at the option of the bolder hereof, at any time thereafter, withoiit any -
~tice or demand, declare the unpaid Principal Amount, plus acerued in-
tenest at the Int~erest Rate, to be immediately due and payable. Failure to
eaercise this option shall not constitute a rvaiver thereof in the event of a
subsequent right to eicer+ci9e chis option. ;
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~ This Note may not be changed orally, but only by agreement in writ-
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~ ing, sigi~eci by the party against ~rhom enforcement of any waiver, change, _
a
~ modificatian or discharge is sough~
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~j AIl parties to ihis NoLe, whether Maker, surety, guarantor or endorser,
~ hereby waive presenm~ent for papment, demand, protest, notice of pro-
= aest, and notice of dishonor and severally agree to pay to the holder of tl~is
Note aII oosts, incl~ing a reasonable attorne~s fee, whether suit be
brought or not, if oounsel shall, after maturity of this Note or after default
hereunder or after the occurrence of an Event of Default under the Security
; Instrument, be employed to collect this Note or to protect the security
; thereof.
If provision for prepayment of this Note is made in tl~e Security Instru-
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~ ment. this I~ote may be prepaid in accordance ~vith the Security Instru-
r
~ menL
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