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8. OBLIGATIONS OF PERSONS UNDER THIS NOTE ~
11 more then one person signs ihis Note, each person is fupy and persona~y obiigated to keep aN ot Ihe promises made in ihls Note, in•
cluding the promisa to pay the 1uN emounl owed. My petson who is a guarantor, surety o~ e~dorser of this Nola ts also obligated to do ,
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these things. My person who takea over these obligattons, inc~uding the obNgations ot a guaranto~, surety or endoraer ot thls Note, is also
obligated to keep eU oi the promises rt?ade in this Note. Tha Note Nolder may entorce its rights under this Note againsl each person i~dividuaUy
or against aN of us iogether. Thla meana ihat any one of us may be required to pay aM of the amounts owed under this Note.
9. WAIVERS
I and any other person who has ob~gations under ihis Note wahre the ~ights ot presentment and notice oi dishonor. "P~esentment" means
the ~ght to requi~e the Note Hbider to demand payment o1 amounis due. "Notice o( dishonor" means the right to require the Note Flolder to
give notice to other peisons that amounts due have not been pald.
10. UNIFORM SECURED NOTE
This Note ls a unNorm fnsUument with 6mited variatlons M some ~~isdictsons. In addition to the protectia~s giver~ to the Note Holder under
this Note, a Mortgage, Deed ot Tn~st or Sec:urity Qeed (the "Security Instrument'~, dated the same date as this Note, protects lhe Note liolder
fr~m possible tosses which might resuft H 1 do not keep the promises which I make in this Note. That Securiry Instrument describes how and
under what condtions 1 may be requkeci to make knmed'~ate payment in fug ~1 atl amounts I owe under thts kote. Some of these conditions ere
described as toUows:
Transfer ot the P~aperty or a Beneftciai lnterest in Borrower.
N ab or any pa?t oi the Praperty or any interest h it is sold or transferred (or N a ber?efidal inte~est i~ Borrower
is sold or trans(e~red and Borrower is not a natural pzrsao) without Lend+x's prior wfiten co~s~t, Lender may, at
its optio~, requi~e irtunedate payment U? tuM ai sums secured by this Security Instrument. However," thts option
shag not be exerdsed by Lender if exerdse is proh~bited by tederal law as of the date of this Security Instrument.
11 lender exerdses this opUon, Lender sha9 give Borrower noUce ot ecceteraUon. The notice shaN provide a
petiod oi not less than 30 days from the date the noGce is deWered or maited within which Borrower :rwst pay al
sums secured by thts Security tnstrumerit. I( Borrower faifs to pay ihese sums prior to the expi?ation ot this period,
Lender may tnvoke any remedies permitted by this Security Instrument without further notlce or demand on Bo~rower.
WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED.
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Timathy D. Ludlum a~~~
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Tonya Mill
(Seaq
rower
(SIGN OWGINAL ONLYj
Pay to the order ot
without recourse.
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' Attest:
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~1tJ14-t.CTI (G6,B7) P(10/87) U(10/T6:'8~ 35930
~ gooK 571 PAGE 970
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