HomeMy WebLinkAbout2760 8. OB~.IGATIONS OF PERSONS UNDER THIS NOTE
lf morc than one persoa signs this Note, ea~h person is Cully and personally obligated to kcep all of thc promises
made in this Note, including the promise to pay the fuU unount owod. Any person who is a guarantor. surcty or endorser ~
of this Note is also obligated to do these things. Any person who takes over these obligations. including the obligations ota
guarantor. surety or endorser of this Note, is also obligated to keep al! of the promises made in this Note. The Notc Holder
may enforoe its rights under this Note against each petson individually or against all of us together. This means that any
one of us may be roquired to pay all of the amounts owod under this Note.
9. WAIVERS
I and any other person who has obligations under this Note waive the rights of praeniment and notice of dishonor.
"Presentment" means the right to requirc the Note Holder to demand payment of amounts due. "Notice of dishonor"
means the right to require the Note Holder to give notice to other persons that amounts due have not bern paid.
10. UNIF~ORM SECURED NOTE
This Note is a uniform instrument with limitod variations in some jurisdictions. In addition to the protections given
to the Note Holder under this Note. a Mortgage, Dad of Trust or Security Deed (the "Security Instrument"). dated the
same date as this Note. protects the Note Nolder from possible losses which might rtsult if I do not kcep the promises
which I make in this Note. 'That Security Instrument dacribes how and under what conditions 1 may bc requir~d to make
immediate payment in full of all amounts I owe under this Note. Some of those conclitions are described as foliows:
Transfe~ of t6e Property or a Beneficial Interest ie Borrower. If all or any part of the Property or
any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and
Borrower is not a natural person) without Lender's prior written consent, Lender may. at its option. require
immediate payment in full of alt sums socured by this Socurity Instrument. However. this option shall not be
ex~rcised by Lender if eaercise is prohibitod by federallaw as of the date of this Security Instrument.
If Lender exercises this option~ Lender shall give Borrower notice of acceleration. The notice shall
provide a period of not less than 30 days trom the date the notice is delivered or mailcd within which
Bonower must pay all sums secured by this Security Instrument. If Borcower fails to pay these sums prior to
the expiration of this period. I.ender may invoke any remodies permitted by this Security lnstrument
without further notice or demand on Bonower.
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