HomeMy WebLinkAbout0915 8, OBLIGATIO\S UF PERSO\S lU1D~Ff 7'1!!S tOTE
It morc than onr pcrsc~n signs this Nate, cach rerson is f~ll~; and personaUy obl~gaicd to kcer aU af thc pr~~mi,.cs
made in lhis Nole, includ~ng the promise to pap tht fuU amount ow•cd. Any rcrsan w•ho is a guaramor, wr.ty or rndt~rser
of this Nwe is also obliRatcd to do that things Any person w•ho ~aka ovrr thcsc obligations, includtn~ the obi~Fatwns af s
guarantor. surety or cndorser of this Note. is alco ob!ignted to keep aIl ot the prom~sts made in this No~c. The No~e }-lolder
may enforce its rights unJtt this No~e against wch person indiviciualiy ar against al1 of us together. This means that any
one af us m.~y be rc+qaired to pay all of the amo~~ts owed undcr this Note.
9. WAIVERS
1 ind any other persoa who has obligations un~u this Not~ waiv~ the rights of presentment and nolicc otdishonor.
"Presentment" means 1he righi to roquire thc Note Holder to demand payment of amowns due. "Noticc o~ dishonor"
means the right to rcquire the Note Hotdu to give notice ta other persons that amounts due have not becn paid.
io. UNIFURIN SECURED NOTE
This Note is a uniform insttument with limittd variations in some jurisdictions. ln addition to the pro~xtions given -
to the Note Holder under this Note, a Mortgagc~ Deod ~f Tnut or Security Deed (the "Security Instrumcnt"j, datcd thc
same date u this Note, protocts the Note Hoider from possible losses which might rault if 1 do not kecp the pramixs
whi¢h I mai~e in this Note.1'hat Security lastrumant describa how and under what conditions 1 may be requirai ~o make
immodiacr payment in full o!'a!1 amounls I awe under this Note. $ame of those cond•:tions are ~SCribc~ as to~lows:
7'ransfu of tbe Property or a Beneficial Interat in Borrowu. It all or any pan of che Propeny or
an3 interest in it is sold or transferred (or if a beneficial interest in Borrowcr is soSd or transferrod and
Borrowtr is not a natural person) without Lendu's prior writtrn consent. Lendrr msy. at its option. roquire
immediate payment in fuU otall sums securod by this Socuriry Instrumen~ However. this option shall not be '
taercixv ~y :w Yrnhit~~tod by te~eral law as of the ciate of this Security Instrument.
If Lender eaercises ihis option. Lender shall giv~ Borrowv notic~ of acceleration. 'I~e notice shall
provide A period ot not less than 3Q days from the datt the notict is delivercd or mailod within which
Bocrowu must pay all sums socurod by this Security Instrument. If Borrower fails to pay these sums prior to
the e~cpiration oC this period. L.ender may invoke any remcdies permitted by this Sccurity Instrumrnt
without further notice or demand on Borrowu.
WJTNFSS TH~ HAND(S) AND SEAL(S) OF THE UNDERSIGNED.
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