HomeMy WebLinkAbout0951 8. Oi31.1CATIUN5 OF PER501'S UNDER TF{IS NOTE
I~ more than one pcrsan signs this Note, ea-h person is fully and pcrsonaNy obligated to keeP al! nf the ~~romises
made in this Note, including thc promise to pay thc i'ull amount owed. A~y person ~vho is a guarantor, surcty or cndorscr
of this Note is also obligated io do thesc lhings. Any person who takes over these obligations, including thc obligations of a
guarantor, surety or endorser af this Note, is Also obligated to keep all of the promises made in this Note. Thc Nate 1lolder
' may enforce its rights under this Note against each person iadividually or against all of us together. This mcans that any
one of us may be required to pay all of'the amounts uwed under this Note.
- 9. WAIVERS
' 1 and any other person who has obligations un~er this Note ~vaive the rights of presentment and natice of dishonor.
"Presentment" means the right to tequire the Note Holder to demand paymcnt of amounts due. "Notice of dishonor"
means the right to require the Note Holder to give notice to othcr persons ihat amounts due have not bcen paid.
~ 10. U1~'IFORM SECURED NOTE
This Note is a uniform instrumertt with limited variations in some jurisdictions. ln addition to the protections given
to the Note Holder under this Note, a Mortgage, Deed oTTrust or Security Deed (the "Security Instrument"), dated the
same date as.this Note, protects the Note Holdcr from possible losses which might result if I do not keep the promises
which [ make in this Note. That Security Instrument describes how and under what conditions 1 rr~ay be required to make
z immediate payment in full of all amounts I owe under tliis Note. Some ef those conditions are described as follows:
Transter of the Propcrty or 9 Beneficial Interest in Boerower. If all or any part of the Property ar
~ any inierest in it is sold or transferr~d (or if a beneficla) interest in Borrower is sold or transferred and
; Borrower is not a natural person) without I.ender's pror written consent, I.ender may, at its option, require
~ immediate payment in full of all sums secured by this ~ecurity Instrument. However, this option shall not be
~ exercis~J by Lender if exercise is prohibited by federal law as of the date of this Security Instrument.
i If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall
~ pro~~ide a period of not less than 30 days from the date the notice is delivered or maiied ~sithin which
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Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to
` the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument
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; without further notice or demand on Borrower.
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