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9. OBLIG4TIONS OF PERSONS UNDFR TNIS NOTE
If more tha,n one person signs this Notc, each person is fully and personally obligated to keeP all of the promises
made in this Note, including the promise to pay the full amount owed. Any person who is a guarantor, surety, or endorser
of this hote is also obligatcd to do these things. Any person w•ho takes over the obligations under this Note or any person
who takes over the obligations ol' a guarantor, surety, or endorser of this Note is also obligated to keep all of the promises
made in this Note. The Note Holder may enforce i.s rights under this Note against each person individually or against all
of us together. This means that any one of us may be reyuired to pay all of the amounts ow~ed under this Note.
10. WAIVERS
I and any other ~rson who hati obligatiuns under this Nute w~aive the rights of pr~entment and notice otdishonor.
"Presentment" means the nght to require the Note Holder to demand~ pa}~ment of amounts due. "Notice of dishonor"
means the right to require the Note Holder to gi~~e notice that amnunts due have not been paid.
11. TNIS NOTE SECURED BY A SECLIRITY ItiSTRI~':~iENT
In addition to the pmtections gi~•en ta the Note Holder under this Note, a Mortgage, Deed of Trust, ~r Deed to
Secure Debt (the "Security Instrument") w•ith an Adjustabie Rate Rider, dated ihe same day as this Note,_ protects the
Note Holder frc~m ~~ssible losses w•hich might result if 1 do not keep the promix.~ w•hich I make in this Note. That Securit}•
Instrument and Rider desrribe h~~w• and under w~hat conditions I may~ be reyuired ro make immediate payment in ful! of all
amounts 1 ow•e under this Note. Some uf those conditions are described as foliows:
"Transfer of the Property or a Beneficiai Interest in Borrower. If all c~r any part of the Propert}~ or
an intere~t there~n i~ se~ld ~~r transferred by E3orr~w•er (ur if a beneficiat interest in Borrow~er is sold or
transferred and Borro«~er is not a natural persun or rersons but is a cor~ration, partnenhip, trust or other
legal entity) without Lender's prii~r written r~mtient, rYrluding (.i) the creation of a iien or enrumbrance
subordinate tc~ this Srcunty Imtrument which dcx~ n~~t relate to a transfer ~~f rights of occupanr~~ in the
property~, (b? the creation c~f 3 purch~se mc~ney see:unt} interetit fer h~,usehold appliances, (c) a transfer by .
de~ itie, dc~cent c?r b~• operati~~n ~~f law uExm the death ut~a j~~int trnant c~r (d) the grant of any~ leasehold mterc~t
~ ~~f three yran or less not r~mta~ning an c~ption t~~ purrh:~tir, l.ender ma}. at Lender's option, declare all the
sum1 tiecured by this Seruni}• lmtrument t~~ he immediatel~~ dur and payable.
~ If I.ender exerciu~ such ~pti~in to arcelerate, 1_ender shall ma~l Born~wer notice of acreleration ~n
~ arr~trdance w~ith paragrarh 14 hrre~~f. Surh ni~uce.hall pn?~ide a~en~~ci ~f n~~t l~~ti than 30 ~Ja}~s fn~m the
date the notice i1 mailed w~~thin w•h~rh t3~~rmwe~ ma}~ pa} thc tiumti derlared dur. If Borrower fails to pay such
; sum~ nrior to the etpiratii~n of such ~xn~xi, l.ender ma}, withuut furiher ncmrr ur dem3nd on Bormwer,
€ im~~ke any remedic~ permittrd b~ ~aragraph 18 herec~f.
~ Lendrr ma} re~nsent to a wle or tr~mfrr i(: f 1) Be~rmwer rauses tc~ be.ubmitted to Lender ~nfi~rmatii~n
~ reyuired b} Lender to ecaluate the trantiferee as if a new luan were t~ing made to the transferee; (2) [.ender
~ reas~nabl} determines that Lender'ti secunt}~ will not be impa~red and that the risk of a breach uF an~
~ co~enant or ;~greement in th~s Securit}• I~istrument is acce~table; (3) interest is payable on the sums serured b~~
~
this Securit}~ Instrument at a rate accertable to Lender, (4) changc~ in the terms of the Note and this Security
~ Instrument required h} I.er~der are madr, including, fc>r ecample, pe riodir adjusmient in the interc~t ratr, ~
~ difTer~nt hnal pa}ment date for the li~an, and additicm ~~f unpaid intere~t t~ principal; and (5) the transferee
~ ~igns an astium~ti~m agreement that i~ acce~table ta Lendrr and that c~hli~ates the transferee t~ keep all the
G pjomitie~ and ~green~ents ma~ir in the tii~te and tn thiti Securit}~ Intitrurnent, as mc~dified if reyuired b~
~ Lender. Tc~ the extent ~xrmitted hy ~p~lirahle law. Lender 31u~ ma} charge a reas~~nahle fee as a r~~nditic~n ~o
Lender's ron~ent tc~ any~ tiale ~r transfer.
- Borr~~wer will continue tc~ hr c~hligated under thr ':`i~te and thiti Securit} Instrument unlc~~ Lrndrr
relratie~ Bi,rn~w•er in w riting...
Witnetiti the hand(ti) and ~eallti) ~~f the undrrtii 'd.•
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