Promissory Note - Calhfa Page 2

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8.
Default and Acceleration. All covenants, conditions and agreements contained in the Deed of
Trust are hereby made a part of this Note, and the Borrower agrees that the unpaid balance of the then principal
amount of the Note, together with all accrued interest thereon and charges owing, at the option of the Lender, or if
so provided in this Note or the Deed of Trust, shall automatically become immediately due and payable, and
thereafter until paid bear interest at the rate of ten percent (10%) per annum, upon the failure of the Borrower to
make any payment hereunder as and when due; upon the failure of the Borrower to perform or observe any other
term or provision of this Note, or upon the occurrence of any event (whether termed default, event of default or
similar term) which, under the terms of the Deed of Trust, shall entitle the Lender to exercise rights or remedies
thereunder.
9.
Notices. Except as may be otherwise specifically provided herein, any approval, notice, direction,
consent, request or other action by the Lender shall be in writing and may be communicated to the Borrower at the
address of the Property, or at such other place or places as the Borrower shall designate to the Lender in writing,
from time to time, for the receipt of communications from Lender.
10.
No Prohibition Against Prepayment. The Borrower may prepay this Note at any time without
penalty.
11.
Governing Law. This Note shall be construed in accordance with and be governed by the laws of
the State of California.
12.
Severability. If any provision of this Note shall be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby.
13.
Time. Time is of the essence in this Note.
14.
No Waiver by the Lender. No waiver of any breach, default or failure of condition under the terms
of this Note or the Deed of Trust shall be implied from any failure of the Lender to take, or any delay by the Lender
in taking action with respect to such breach, default or failure or from any previous waiver of any similar or
unrelated breach, default or failure; and a waiver of any term of this Note, the Deed of Trust, or any of the
obligations secured thereby must be made in writing and shall be limited to the express written terms of such waiver.
15.
Successors and Assigns. The promises and agreements herein contained shall bind and inure to
the benefit of, as applicable, the respective heirs, executors, administrators, successors and assigns of the parties.
Borrower
Borrower
Borrower
Borrower
Borrower
Borrower
CHDAP [with FHA First] Promissory Note
Page 2 of 2
10/13/2014

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