HomeMy WebLinkAbout0923 8. OBLICAT10N5 OF PERSONS UNDER THIS NOTE
lf more thpn one person signs this Note, each pcrson is fully and personally obligated to kap a!I of the promises
made in this Note. including the promise to pay the full amount owed. Any person who is a,guat~antor, su~ety or endorser
of this Note is also obligatad to do these things. Any person who takes ovcr these obligations, including the obligations ota
guarantor, surety or endorser of this Note~ is also obligated to kap aU of the promises made in this Note. The Note Holder
may enforce its rights under this Note against each person individually or against all of us together.l'his means that any
one of us may be requirod to pay a!1 of th~ amounts owed under this Note.
9. WAIVERS
I and any other pe~n who has obligations under this Note waive the rights of presentment and notice of dishonor.
"Presentment" means the nght to require the Note Holder to demand payment of amounts due. "Notice of dishonor"
means !he right to require tho Note Holder to give notice to other persons that amounts due have not been paid.
10. UNIFORM SECURED NOTE
This Note is a uniform instrument with limited variations in some jurisdictions. In addition to the protections given
to the Note Holder under this Note, a Mortgage, Dced of Trust or Security Deed (the "Security Instrument"). dated the
same date as this Note, protects the Note Hotder from possible losses which might result if I do not keep the promises
which I make in this Note. That Security Instrument describes how and under what conditions I may be required to make
immediate payment in full of all amounts I awe under this Note. Some of thoee conditions are described as follows:
Transier of the Property or a Beneflcixl Interest in Horrower. If all or any part of the Property or
any interest in it is sold or transfened (or if a beneficial interest in Borcawer is sold or transferred and
Bonower is not a natural person) without Lender's prior written consent, I.ender may, at its option, require
immediate payment in fvll of a!I sums socured by this Socurity Instrument. However, this option shall nnt be
exercised by Lender if eaercise is prohibited by federal law as of the date of this Security Instcument.
If I.ender exercises this option, Lender shall give Bonower notice of acceleration. The notice shall
provide a period of not less than 30 days from the date the notice is delivered or mailed within which
Borrower must pay all sums secured by this Socurity Instrument. If Bonower fails to pay these sums prior to
the eapiration of this period, Lender may invoke any remedies permitted by this Security Instrument
without further notice or demand on Bonower.
WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED.
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