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2. Borrower will pay the Principal by making payments every month commencing on the 61st month after the date of Loan closing. Borrower will make my monthly payments on the riRST day of each month beginning on SEPTMW.R 1, 2000. The amount of the monthly payment shall be equal to 1/300 of the Principal. Borrower will make these payments every month until Borrower has paid all of the Principal, and any other charges described below that Borrower may owe under this Note. If, on szpTmaum 1, 2028, Borrower still owes amounts under this Note, Borrower will pay those amounts in full on that date, which is called the "Maturity Date." The principal amount of this Note shall be due and payable in full upon acceleration of the Note in the event of a default hereunder or the Subordinate Security Interest, or on the date of the first sale or transfer of the Property to occur after the date of this Note. Borrower will make my payments at 1017 Middlefield Road, Redwood City, CA 94063 or at a different place if required by the Note Holder. The indebtedness evidenced by this Note, and any other financial obligation which may hereafter be imposed on Borrower by the Note Holder is secured by a Deed of Trust of even date (the "Subordinate Security Interest") and is subordinate to the indebtedness evidenced by a note payable to a senior lender, which note is secured by a first deed of trust on the Property (the "First Deed of Trust"). (B) Amount of Monthly Payments The monthly payment will be in the amount of $ sa. s7. (C) Deferral Upon transfer of title by Borrower of the Property, within 30 years from the date of transfer of title to Borrower or. January 17, 2028, whichever comes first, or in the event of default, under this Note, the Subordinate Security Interest, or the First Deed of Trust, Borrower will pay to the Lender the outstanding principal amount of the Loan. (D) Restricted Asamptions. The Borrower acknowledges that this Note is given in connection with the purchase of the Property as part of a program of the note holder to assist Low and Moderate Income First -Time Homebuyers to purchase homes, by providing a loan which will subsidize the purchase price of the Property. Consequently, this Note is not automatically assumable but is subject to Section 711.5 of the California Civil Code, which allows the Note Holder to accelerate all amounts due under this Note if any subsequent transfer of the Property of any kind does not comply with the provisions of the Resale Restriction Agreement and Option to Purchase or with Lender's rules governing participation in the First -Time Homebuyer Program. Similarly, any default under any other agreement executed with regard to the purchase of the Property, including but not limited to the Resale Restriction Agreement and Option to Purchase, the Deed of Trust, the Grant Deed, and the First Deed of Trust shall be 2 ST„