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HomeMy WebLinkAbout0992 .a. ~ . . • . . 7 . i . . ' ,i ~ ~ ~ ~ ~ ' - ' _ . 5' . ~ 8. RESPONSIBILiTY OF PER50NS UNDER THIS NOTE ~ If more than one person signs thia Note, each af us ia fully ~nd perac?nsUy obligat~d to pay the full amount owed and to keep all of ~ thc promises made in this Note. Any guarantor, surcty, or er.dorser of this Note is also obllgated to do these things. Thc Note Holder may enforce its rights under this Note ~gainst each of us individually or againat aU of us together. This means that any one olus may be ~ required to pay all of the amo~nts owed undet this IVote. ~ . ~ ~ Any person who tnkes over my rights or obligattons under this Note witl have all of my cights and must keep ail of my promises . made in ahis Note. Any persan who takes over the rights or obligtti:,ns of a guarantor, surety, or endotser of this Note is also obligated ta keep all of the promises made in thls N~te. - 9. LUAN CHARGES ~ ' ' It could be that this loan is subject to a law which sets maximum loen charges and that la~v is interpre~ed so that the interest ot other i~ ~ loan charges collected or to be collected in connection with ehis loan ~vould eaceed permItted limits. If this ia the case, then; (A) any ~ s such loan chaig~ shall be reduced by the amount necessary to reduce the cfiarge to the Rermitted limi~ and(B) any suma already co~ c~ lected fcom me which exceedtd per~nitted limits will be refunded to me. The Note Holder may choose to make this ref-und by reducing the principal I o~re under this Note or by making a direct paymrnt to me. If a refund reduces prtncipal, the reduction will be treated u a parti=1 prepaymenG _ ~ . ~ ~ ~ l0. THIS NOTE ~ECURED BY A MOItTGAG& . In addition to the protections givcn to the~Note Holder undet this Notc, a Mortgagc, dated ..~~H 18th, . 1982.., 19. prntecu the Note tioldtr from possible los'ses w~hich might result if I do not keep the promIses which I mal-e in thia Note. That biottgage describes how and under what conditions I may be reQutred to msfce immediate payment in (ull of all amounts thit I oive ~ under this Note. One of those conditions rPlates to any transier of the property ~overed by the Aiortgage. In that rrgard, the hlortgage t provides in p~ragraph 17: ~ . 17. 'transfer of the Property; Assumption If all or any part of the Property or an interest therein is sold or transferred by Borroaer ~?thout Lendei s priot written consent, excluding (a) the creation of a lien or encumbcance subordinatt to thta Mortgage, . (b) the creation ofa purchase money security interest for h~usehold appliances, (c) a tr~nsfer by device, descent or bq upetatlon of law upon the death of z joint tenant ot (d) the grant of any leasehold intereat o[ three years or less not contairning an option to putchase, Lender may, at Lender's optioq decalre all the sums secured by this Mortgage to be immediateiy due and payable. Lender shall have # . waivetii such option to accelerate if, prior to the s~le Qr t:ansfer, Ler.der and the person to whom thc P~operty is to Ue sold ot transferred ~ reach agreement in v%riting that the credit of such person is satisfactory to Lender and that the interest payable on the sums secured by ~ this Moregage shall be at such rate as Lender shall request If Lender has waived the option to accelerate provided in this paragraph 17. . and if Borrower s successor in interest has executed a written assumption agreement accepted in writing by Lender, Lendu shall # release Borrower f~rom all obligatioRS under this Mortg~ge and the Note.~ _ ; ~ If Lender exercises such option to accelerate, Le~~der shall mail Borra~ver notice of acceleration in accordance with para- graph 14 hereof. Such notice shall provide a period of not less than 3G days from the date the notice is mail2d within which Borrower - may pay the sums declared due. If Borron•er fails to pmy such sssms ~rior td the expiration of such pEriod, I.enJer may, w•ithout further . notice or demand on IIorrowcr, invoke any remedits p. ~mitted by paraRraph 18_hereof. M Adjustable Rate Loan'Rider supplements the Mortgage and provides: . - If there is a transfer of the Propettysubject to paragraph 17 oEthe Security Instrument; Lender may require(1) an increase in the current Note incerest rate, or(2) an increase in(or removal oQ the limit on the amount of any one interest rate change (if thete is a limit), or (3) a change in the Base Index figure, or all of these, as 2 condition of Lende~s waiving the option to ~ccele~ate ptovided in paragraph 17. ~ ~s~ . .....................(Seal~ . . Borrnwer f~:y? ":.f1Y 28 3~ CARLTOI~I H. c~,ur~n F r.~:~~:~- - ; ~5.1 . _ =t : . cs~dn . ='rc~r,TR rc~~-::;.; eono~~. C;,{ FK Clpr•UI~ f:rl:~ . n JANE A. MAYRVD ; .i- •;~.,:tt~~_ .._~i ~ . . . .......................•-.........................._...(Se~q ~~Ir ~~y Bnnou~tr q~/ ~ I~ . ................•--....................................(Sea~ x l ~ . /3onowcs ; . i srB~ o.;kfRA~ o,~ly~ ~ . , . ~ r z ~ a00K c)~ PlGE . . ~ - ~ - - "