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<br />Apr-~3-00 02:41P F;rst Home. Inc. <br /> <br />415 387 1369 <br /> <br />P.17 <br /> <br />7/4 39 <br /> <br />(d) A default shall oc«.:ur under the terms ot" the Senior Deed of Trust and said default <br />shall not be curcd within sixty (60) days following the recordation of notice of default hy the <br />trustee under the Senior Decd of Trust. <br /> <br />Upon the first day ofthe calendar month folJowing a Disqualifying Event, notwithstanding <br />anything to the contrary contained in this Note or the Junior Dced of Trust, the following shall <br />occur. <br /> <br />(a) Imcrest on this Note shall accrue at a rate equal to the Elcventh District Cost ot" <br />Funds plus 2.5% per alUlum, and the principal balance of this Note shall be amortized in equal <br />monthly instaJlment5 including interest and principal over a period of thirty (30) years <br />commencing upon the first day of tht: second month foJlowing the Disqualifying Event. <br /> <br />(b) At the option of the holder of this Note. the entire remaining balance of the <br />principal and accrued interest shall become immediately due and payable. <br /> <br />The Loan Agreement also provides that Maker shall pay Lender a portion of the <br />appreciation in the value of the Home securing this Note, and Maker agrees to pay said sum, if <br />any. to Lender in accordance with the terms and conditions of the Loan Agreement. <br /> <br />This Note is secured by a deed oftrost upon real property situation in the City of Reùwood <br />City I County of San Mateo, State of California commonly known and described as <br /> <br />Borrower <br /> <br />Co-borrower <br /> <br />Dated <br /> <br />Dated <br /> <br />l<.,d"""H":"\,N"',<:.r,"v~n':\(¡n <br /> <br />2 <br /> <br />H ,,~,,_'_H "'.----T--- - <br />