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7 BORROWER(S),S FAILURE TO PAY AS REQUIRED (a) Late Charge for Overdue Payments. If the Note Holder has not received the full amount of any payment by the end of 15 calendar days after the date the payment was due, the Borrower(s) will pay a late charge to the Note Holder. The amount of the charge will be six percent (6%) of the overdue Principal Payment Amount. The Borrower(s) will pay this late charge promptly, but only once for each late payment. (b) Default. If the Borrower(s) do not pay the full amount of each payment on the date it is due, the Borrower(s) will be in default. (c) Notice of Default. If the Borrower(s) are in default, the Note Holder may send the Borrower(s) a written notice telling the Borrower(s) that if the Borrower(s) do not pay the overdue amount by a certain date, the Note Holder may require the Borrower(s) to pay immediately the full amount of principal amount of this Note which has not been paid and all the late charges that the Borrower(s) owe. That date when the overdue amount must be paid must be at least 30 days after the date on which the notice of default is delivered or mailed to the Borrower(s). (d) No Waiver by Note Holder. Even if, at a time when the Borrower(s) are in default, the Note Holder does not send a notice of default to the Borrower(s) or does not require that the Borrower(s) pay immediately in full as described above, the Note Holder will still have the right to do so if the Borrower(s) remain in default or are in default at a later time. (e) Payment of Note Holder's Costs and Exoenses. If the Note Holder has required the Borrower(s) to pay immediately in full as described above, the Note Holder will have the right to be paid back by the Borrower(s) for all of the Note Holder's costs and expenses in enforcing this Note to the extent not prohibited by the applicable law. Those expenses can include, for example, reasonable attorneys' fees. 8. SECURITY This note is secured by a Deed of Trust against the property listed above. That Deed of Trust describes how and under what conditions the Borrower(s) may be required to make immediate payment in full of all amounts owed under this note. In addition, the Borrower(s) have agreed to certain restrictions on the sale or transfer of the property or any interest in it pursuant to the Resale Restriction Agreement. The Resale Restriction Agreement contains specific restrictions regarding the sale or transfer of the property. If provisions of the Resale Restriction Agreement are violated, the Note Holder may, at its option, require immediate payment in full of all sums secured by the Deed of Trust. The Borrower(s) shall have the right to cure this default for a period of 30 days from notice of default. If the Note Holder exercises this option, the Note Holder shall give Borrower(s) written notice of acceleration The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which the Borrower(s) must pay all sums secured by the Deed of Trust. 9. NO FURTHER ENCUMBRANCES Encumbering the property secured by the Deed of Trust which secures this Note with more than the Habitat Deed of Trust, the Senior Deeds of Trust and the Deed of Trust which secures this Note is prohibited and shall constitute a default of this Note; provided, however, Borrower(s) may encumber the property with deeds of trust securing loans from the County of San Mateo, or any other Approved Junior Lien (as defined in the Addendum to the Deed of Trust), provided such deeds of trust are subordinate to the Habitat Deed of Trust and the Deed of Trust securing this Note. The Addendum to the Deed of Trust provides for rights and remedies to the Lender if Borrower(s) violate this provision. 10. DUE ON SALE CLAUSE The Addendum to the Deed of Trust which secures this Note provides that if all or any part of the property or any interest in it is sold, conveyed, or transferred without the Note Holder's prior written consent, REV: 08-10-22 A ATTY/AGR.2022.254/Habitat 612 Jefferson 604 (09HOME - Promissory Note (Buyer) HGSF 604) (Page 3 of 4)