Form Dap07not-Chfa - Second Mortgage Note - Downpayment Assistance Program


CHFA Loan #: ________________
______________________, Connecticut
AFTER DATE, FOR VALUE RECEIVED, the undersigned ("Borrower") promises to pay to the
order of CONNECTICUT HOUSING FINANCE AUTHORITY ("Lender") at its office at
999 West Street, Rocky Hill, Connecticut 06067 or at such other place as the Holder hereof may designate
in writing, the sum of ___________________________________________________________________
($_______________________) dollars with interest, in arrears, at the rate of ________________ percent
(_______%) per annum upon the unpaid principal balance and together with all costs, expenses and
attorney's fees incurred by the Holder hereof in any proceeding for collection of the debt, in any foreclosure
of the mortgage securing the same, in protecting or sustaining the lien of said mortgage, or in any litigation
or controversy arising from or connected with this Note or the Mortgage securing the same.
Said principal and interest shall be payable in installments as follows:
The sum of ______________________________________________________________________
($__________________) dollars shall be due and payable on the first day of ____________________,
20____, and on the first day of each and every month thereafter until this Note is fully paid, except that if
not paid sooner, the entire amount of the interest and principal unpaid shall be due and payable on
______________________________. Each installment shall be applied first to the payment of interest on
the unpaid balance of this Note and the balance on the principal of this Note.
Default for a period of thirty (30) days in the payment of any of said installments of principal or
interest, or default with respect to any prior mortgage on the premises securing this Note (the "Premises"),
or failure to pay the taxes or municipal assessments on said Premises when due, or failure to carry on said
Premises fire or other insurance required by Lender or to pay the premiums therefor when due, or failure to
keep said Premises in a condition of good repair, or failure of the Borrower to reside continuously at said
Premises while this Note remains unpaid, or transfer of said premises to anyone other than a maker hereof,
or failure to keep and perform any of the agreements or provisions contained in the mortgage securing this
Note, or the filing of a petition in bankruptcy by or against any maker or other owner of said Premises shall
render the whole of the Note together with accrued interest thereon immediately due and payable at the
option of the Holder hereof. Any failure to exercise said option shall not constitute a waiver of the right to
exercise the same at any time.
Borrower agrees to pay a late charge of five dollars ($5.00) for each monthly installment paid more
than fifteen (15) days after its due date. Any such charges shall be collected from the Borrower in addition
to the regular monthly payment. Any payment made subsequent to the imposition of late charges shall first
be applied to the late charge or charges then outstanding and any remainder applied to the regular mortgage
Borrower has the right to prepay any and all payments hereof without penalty. Each prepayment
shall be credited to the unpaid principal installments of this Note in the inverse order of their maturity.
Prepayment shall only be made with the regular monthly installment and shall not affect the obligation to
pay the regular monthly installment requirement hereunder, until the entire indebtedness has been paid.
NMLS LO: __________________________________________________
CO ID/Name: ________________________________________________
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CHFA FORM #DAP07NOT Rev. 01/2014


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