Fill and Sign the Promissory Note Secured Form

MULTISTATE FIXED RATE NOTE—Single Family—UNIFORM INSTRUMENT 3/99 (page 1 of 3 pages) NOTE , , [Date] [City] [State] [Property Address] 1. BORROWER’S PROMISE TO PAY In return for a loan that I have received, I promise to pay U.S. $____________________ (this amount is calle d “principal”), plus interest, to the order of the Lender. The Lender is _________________________________, with address of: _______________________________________________________________________________. I will make all payments under this Note in the form of cash, check or money order. I understand that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and who is entitled to receive payments under this Note is called the “Note Holder.” 2. INTEREST Interest will be charged on unpaid principal until the full amount of principal has bee n paid. I will pay interest at a yearly rate of _______________%. The interest rate required by this Section 2 is the rate I will pay both before and after any default described in Section 6(B) of this Note. 3. PAYMENTS (A) Time and Place of Payments I will pay principal and interest by making a payment every month. I will make my monthly payment on the _________ day of each month beginning on __________________, _____. I will make these payments every month until I have paid all of the principal and interest and any other charges described below that I may owe under this Note. Each monthly payment will be applied as of its scheduled due date and will be applied to interest before principal. If, on ______________________________, 20____, I still owe amounts under this Note, I will pay those amounts in full on that date, which is called the “maturity date.” I will make my monthly payments at the following address: _______________________________________________, or at a different place if required by the Note Holder. (B) Amount of Monthly Payments My monthly payment will be in the amount of U.S. $_______________________________. 4. BORROWER’S RIGHT TO PREPAY I have the right to make payments of principal at any time before they are due. A pa yment of principal only is known as a “prepayment.” When I make a prepayment, I will tell the Note Holder i n writing that I am doing so. I may not designate a payment as a prepayment if I have not made all the monthly payments due under the Note. I may make a full prepayment or partial prepayments without paying a prepayment charge . The Note Holder will use my prepayments to reduce the amount of principal that I owe under this Note. However, the Note Holder may apply my prepayment to the accrued and unpaid interest on the prepayment amount, before appl ying my prepayment to reduce the principal amount of the Note. If I make a partial prepayment, there wi ll be no changes in the due date or in the amount of my monthly payment unless the Note Holder agrees in writing to those changes. 5. LOAN CHARGES If a law, which applies to this loan and which sets maximum loan charges, is finall y interpreted so that the interest or other loan charges collected or to be collected in connection with this loan e xceed the permitted limits, then: (i) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (ii) any sums already collected from me which exceeded permitted limits will be refunde d to me. The Note Holder may choose to make this refund by reducing the principal I owe under this Note or by making a dire ct payment to me. If a refund reduces principal, the reduction will be treated as a partial prepayment. 6. BORROWER’S FAILURE TO PAY AS REQUIRED (A) Late Charge for Overdue Payments If the Note Holder has not received the full amount of any monthly payment by the end of ___________ calendar days after the date it is due, I will pay a late charge to the Note Holde r. The amount of the charge will be _____% of my overdue payment of principal and interest. I will pay this late charge promptly but only once on each late payment. (B) Default If I do not pay the full amount of each monthly payment on the date it is due, I will be in default. MULTISTATE FIXED RATE NOTE—Single Family—UNIFORM INSTRUMENT 3/99 (page 2 of 3 pages) (C) Notice of Default If I am in default, the Note Holder may send me a written notice telling me that if I do not pay the overdue amount by a certain date, the Note Holder may require me to pay immediately the full amount of principal which has not been paid and all the interest that I owe on that amount. That date must be a t least 30 days after the date on which the notice is mailed to me or delivered by other means. (D) No Waiver By Note Holder Even if, at a time when I am in default, the Note Holder does not require me t o pay immediately in full as described above, the Note Holder will still have the right to do so if I am in default at a later time. (E) Payment of Note Holder’s Costs and Expenses If the Note Holder has required me to pay immediately in full as described above, the Note Holder will have the right to be paid back by me for all of its costs and expenses in enforcing this Note to the extent not prohibited by applicable law. Those expenses include, for example, reasonable attorneys’ fees. 7. GIVING OF NOTICES Unless applicable law requires a different method, any notice that must be given t o me under this Note will be given by delivering it or by mailing it by first class mail to me at the Property Address above or at a different address if I give the Note Holder a notice of my different address. Any notice that must be given to the Note Holder under this Note will be given by deli vering it or by mailing it by first class mail to the Note Holder at the address stated in Section 3(A) above or at a different address if I am given a notice of that different address. 8. OBLIGATIONS OF PERSONS UNDER THIS NOTE If more than one person signs this Note, each person is fully and personally obligated to keep all of the promises made in this Note, including the promise to pay the full amount owed. Any person who is a guarantor, surety or endorser of this Note is also obligated to do these things. Any person who takes over these obligat ions, including the obligations of a guarantor, surety or endorser of this Note, is also obligated to keep all of the promises made in this Note. The Note Holder may enforce its rights under this Note against each person indivi dually or against all of us together. This means that any one of us may be required to pay all of the amounts owed under this Note. 9. WAIVERS I and any other person who has obligations under this Note waive the rights of presentment and notice of dishonor. “Presentment” means the right to require 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 been paid. 10. UNIFORM SECURED NOTE This Note is a uniform instrument with limited variations in some jurisdictions. In a ddition to the protections given to the Note Holder under this Note, a Mortgage, Deed of Trust or Security Deed (the “Security Inst rument”), dated the same date as this Note, protects the Note Holder 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 c onditions I may be required to make immediate payment in full of all amounts I owe under this Note. Some of those conditions are described as follows: If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrume nt. However, this option shall not be exercised by Lender if such exercise is prohibited by federal law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given within which Borrower must pay a ll sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this peri od, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED _______________________________________________________ (Seal) _______________________________________________________- Borrower _______________________________________________________ (Seal) _______________________________________________________- Borrower _______________________________________________________ (Seal) _______________________________________________________- Borrower [Sign Original Only] MULTISTATE FIXED RATE NOTE—Single Family—UNIFORM INSTRUMENT 3/99 (page 3 of 3 pages) Authorized Changes The following changes MAY be made to this instrument at the lender's option or MUST be made under certain circumstances only: 1. Lenders MAY add legends to identify the preparers of the instrument, consistent with the requirements of state and local laws. 2. Lenders MAY add the borrowers' social security numbers to the note, if the borrowe rs do not want to provide this information on the security instrument. 3. Lenders MAY add the following language (with all letters being capitaliz ed) above the signature line, if the security property is located in Alabama: CAUTION – IT IS IMPORTANT THAT YOU THOROUGHLY READ THE CONTRACT BEFOR E YOU SIGN IT. 4. Lenders MAY add the following language to the end of the note or as an attachm ent to the note, if the security property is located in Iowa: Important: Read before signing. The terms of this Agreement should be read care fully because only those terms in writing are enforceable. No other terms or oral promises not contained in this written agreement may be legally enforced. You may change the terms of this agreement only by another written agreement. 5. Lenders MAY add the following language to the end of the note, immediately after the Borrower's Signature lines, if the security property is located in Louisiana: 'Ne varietur' for identification with a mortgage given before me on ____________________, ____. ____________________________________________________________ Notary qualified in Parish, Louisiana 6. Lenders MAY add the following language to the end of the note, if the security property is located in Maryland: This Note and the Deed of Trust which secures it shall be governed by t he laws of the United States of America and the state of Maryland and more particularly by Subtitle 10, Credit Grantor Cl osed End Credit Provisions, of Title 12 of the Commercial Law Article of the Annotated Code of Maryland. 7. Lenders MAY add the following language (with all letters being capitaliz ed and bold-faced) to the end of the note, if the security property is located in Texas: THIS WRITTEN LOAN AGREEMENT REPRESENTS THE FINAL AGR EEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTI ES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. _______________________________ _________________________ SIGNATURE OF BORROWER SIGNATURE OF LENDER 8. Lenders MAY add the following language (with all letters being capitaliz ed and bold-faced) to the end of the note, if the security property is located in Washington: ORAL AGREEMENTS OR ORAL COMMITMENTS TO LOAN MONEY, E XTEND CREDIT, OR TO FORBEAR FROM ENFORCING REPAYMENT OF A DEBT ARE N OT ENFORCEABLE UNDER WASHINGTON LAW.