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HomeMy WebLinkAbout0987 - ~ _ ~ . • . 1 . i . . : ; _ . 1 ~ . ~ . ~ . . . T . . ~ . { . • ' 1 ~ j . _ . . . . . . . . . . _ . . . . . . . . . _ . . . . . ~ , ' ~ . 8. RESPONSI23II:ITY OF PERSQNS UIYDER THIS IYO?'E ~ ~ ~ If more than one person signs this Nore, each Qf us is full~ ~ud personalEy obligatcd to pay th~ fufl amount owed anc! to keep all of i ~ the promises made in this Note. Any Ruarantor, surety, or endorser of this Note is also obligated to do these things. The Note Holder ; may enfotre its rights under this Nate against~each of us indtvidually or against all of us togathet. Th(s mtans th~t any one of us may be required to pay all of the amounts owed under this Note. _ ~ ~ Any person who txkes over my rights or obligations under this Note will have alt ot my rights and must keep ali of my promises . made in this Note. Any person whu takes over the rights or obligations o(a guarantor, surety, or endorserof this IVote is also obligated ~ : ~ to keep all of the prc~mises madc in this Note. . ~ 9• LOAN CHARGES . ' ~ It could be ttiat this laan is subject to a!aw which sets nraximum loan c}iarges and that Ltev is interpreted so that the intetest or other , ~ loan charges colltcted ar to be tellected in connection wieh this loan would exceed permltted limits. If thts is the case~ then; (A) any ~ surh loan charge shall be reduced by the amount necessary to redute ehe charge to the permitted limi~ and (B) any sums alrrady co6 ~ ~ lected from me which exceeded permitted limits will be refunded to me. The Note Holder riuy choox to make this refund by reducin~ the principal I owe under this Note or by making a direct payment t~ me. If a refund reduces princips~l, the teduction will be treated as ; a partial pcepayment. - lo. TfiIS NOT'E SECURED BY A MORTGAGE ~ i ~ In addition to the protections given to the Note Holder under this Note, a Mortgage, dated ..~RCH ,18 ~_,:982 ~ 19. protects the Note Holder from possible losses which might result if I do not keep the ptomises whtch I make in this Note. That ' Mortgage describes how and under ~vhat conditions I may be required to make immediate payment in full of all amounts that I owe ~ under this Note. One of those conditions relates to any trans(er oiche pruperty covcred by the Mortgage. In that regard, the Mort~age i , provides in pangraph 17: _ - _ ~ • 17. Transfer of the Property; Assumption. If all or any part o( the Property or an interest thtrein is sold or transferred by Borrower without Lender s prior written consent, excluding (a) the creation of a leen or encumbrance subordinate to this Mc~rtgage, (b) the creation ofa purchase money security interest for household appliances, (c) a transfer by d~vice, drscent or by operation of la~ir upon the death of a joint tenant vr the Rrant of any leasehold incerest of three years or less not containing an op[ion to purchase. Lrnder may, at Lender s option, decalre all the st~ms secured by this I~iortgage to be immediately due ar.d pzyable. Lender shall have - waived such option to accelerate if, prior to the sate or t:ansfer, l.ender and the person to whom the Property is to be sotd or tcuuferred reuh agreement in writing that the credit of such person is satisfactory to Lender and that the interest payable on the sums secured by ~ this Aiortgage sha(f be at such rate as I.ender shall re:;+~est If Lender has waived the option to accelerate provided in this paragraph 17. 3 . and if Borrower's successor in interest has ~xecuted a written assumption agreement accepted in writing by Lender, Lender sha!! release Borrower from all obligations under this Mortgage and the Note. - ~ If Lender exerciscs such opticn to accelerate, I.ender shail mail F3orrc~wer no*~ce of acceleration in accordance Rith para• ~ graph t4 hereof. Such notice shall provide a period o£ not less than 30 days From the date the notice is mailed within which Borrower ; may f,ay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period, I.ender may, with~uc further notice or demand on Borrower, invokr anp rcmedics petmittrd hy para~aph lA hereo(. ~ ~ . ~ An Adjustable Rate i,oan Kider supplements the btortgage and providex . ~ If there is a trans(er of th~ Propcrty suhject to paragraph 17 of the Security lnstrument, Lender may require(1) an increase ~ . in the current Note interest rate, or(2) an increase in(ur removal oQ the limit on the amount ofany one interest race change(if there is a limit), ur (3) a chsnge in the Base index figure, or a!t o~ these, as a condition of Lender's waiving the option to accelerate provided in ' ~ paragraph 17. ~ - ~ - i ' f ~5~ ..........................................:.........(Sea~ _ ~ ' _ Bonorur~ . - E~`~iARD C. LEAMON t~~1. ~:~Y 2~ ~11 3~ 3? _ ~S~ . i _ - .................................................(sezq - F 1~: C' LF( ~i r;t~ - Borsou•e~ i ; rl[ l'C~~~ ~ - ~ " S•fiG._f~ ~r.~ _ :._i _ r' f~~Ji KAREN A. LEAMON - GICFK GtnC~i! G:.::=T . - i ,-.F;.;r~,~: ~i:E="'. ...•••.............................(Sea~ • I . . f3onou~e~ ...................................................•••.(Sean [ ' . f3orrou~er - { ~ (Sig'n Origina! Oaly) ~ i;~ - aov ~AC~ . ~ .