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  • per annum in accordance with Article XV, Section 1 (Interest and Usury) of the California Statutes.

    1. REMITTANCE / PAYMENTS: Debtor shall pay (check the applicable box)
  • If installments or interest only payments are checked above, such installment payment shall be due and payable on the (check the applicable box)
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  • per annum OR the maximum rate allowed by law, whichever is less, until the Debtor is no longer in default.

    4. ALLOCATION OF DIVISIONS / PAYMENTS: Divisions / Payments shall be first credited any late fees due, then to interest due and any remainder will be credited to principal.
    5. PREPAYMENT PENALTY (NONE): Debtor may pre-pay this Note without penalty.

  • shall be payable with the scheduled installment payment along with any default interest due.

    7. PAYMENT DUE ON SALE: This Note is secured by a security instrument described in Section 17 securing repayment of this Note, the property described in such security instrument may not be sold or transferred without the Lender’s consent. If Borrower breaches this provision, Debtor may declare all sums / proceeds due under this Note immediately due and payable, unless prohibited by applicable law.

  • days after written notice of such default, then Investor may, at its option, declare all outstanding sums owed on this Note to be immediately due and payable, in addition to any other rights or remedies that Investor may have under the security instrument or state and federal law.

    9. ATTORNEYS’ FEES AND COSTS: Debtor shall pay all costs incurred by Investor in collecting sums due under this Note after a default, including reasonable attorneys’ fees. If Investor or Debtor sues to enforce this Note or obtain a declaration of its rights hereunder, the prevailing party in any such proceeding shall be entitled to recover its reasonable attorneys’ fees and costs incurred in the proceeding (including those incurred in any bankruptcy proceeding or appeal) from the non-prevailing party.

    10. WAIVER OF PRESENTMENTS: Debtor waives presentment for payment, notice of dishonor, protest, and notice of protest.

    11. NON-WAIVER: No failure or delay, by Investor in exercising Investor’s rights under this Note shall be considered a waiver of such rights.

    12. PROVISION OF SEVERABILITY: In the event that any provision herein is determined to be void or unenforceable for any reason, such determination shall not affect the validity or enforceability of any other provision, all of which shall remain in full force and effect.

    13. INTEGRATION: There are no verbal or other agreements which modify or affect the terms of this Note. This Note may not be modified or amended except by written agreement signed by Debtor and Investor.

    14. CONFLICTING AGREEMENT: In the event of any conflict between the terms of this Note and the terms of any security instrument securing payment of this Note, the terms of this Note shall prevail.

    15. NOTIFICATION: Any notification requires or permitted to be given hereunder shall be given in writing and shall be delivered (a) in person, (b) by certified mail, postage prepaid, return receipt requested, (c) by facsimile, or (d) by a commercial overnight courier that guarantees next day delivery and provides a receipt, and such notices shall be made to the parties at the addresses listed below.

    16. EXECUTION: The Investor executes this Note as a principal and not as a surety. If there is more than one Investor, each Investor shall be jointly and severally liable under this Note.



    This agreement was signed the
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