Promissory Note

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_________________________________[Space Above This Line For Recording Data]_________________________________
PROMISSORY NOTE
Borrower:
Lender:
Loan Number:
Principal Amount:
Date of Loan Disbursement:
(“Lender”), or order, in lawful money of the United States of America, the
PROMISE TO PAY. I promise to pay
principal amount of
Dollars, ($
), pursuant to the Promissory Note Rider.
DEFAULT. I will be in default if any of the following happens: (a) I break any promise I have made to Lender, or I fail to
perform promptly at the time and strictly in the manner provided in this Note or in any other agreement I have with Lender.
(b) Any representation or statement made or furnished to Lender by me or on my behalf is false or misleading in any
material respect. (c) I sell or transfer the property in violation of the subsidy provider’s policies.
LENDER’S RIGHTS. Upon default, Lender may declare the entire unpaid principal balance on this Note immediately due,
without notice, and then I will pay that amount. Lender may hire or pay someone else to help collect this Note if I do not
pay. I also will pay Lender that amount. This includes, subject to any limits under applicable law, Lender’s attorneys’ fees
and legal expenses whether or not there is a lawsuit, including attorneys’ fees and legal expenses for bankruptcy
proceedings (including efforts to modify or vacate any automatic stay or injunction), appeals, and any anticipated post-
judgement collection services. If not prohibited by applicable law, I also will pay any court costs, in addition to all other
sums provided by law. This Note has been delivered to Lender and accepted by Lender in the State of Illinois. If there is
a lawsuit, I agree upon Lender’s request to submit to the jurisdiction of the courts of
County, the State of Illinois.
This Note shall be governed by and construed in accordance with the laws of the State of Illinois and The United States of
America.
COLLATERAL. This Note is secured by a Mortgage dated
to Lender on real property located in
County,
State of Illinois, all the terms and conditions of which are hereby incorporated and made a part of this Note.
ADDITIONAL PROVISIONS. The mortgage is on property located at:
GENERAL PROVISIONS. Lender may delay or forego enforcing any of its rights or remedies under this Note without
losing them. I and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive
presentment, demand for payment, protest and notice of dishonor. Upon any change in the terms of this Note, and unless
otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor, accommodation maker
or endorser, shall be released from liability. All such parties agree that Lender may renew, extend (repeatedly and for any
length of time) or modify this loan, or release any party or guarantor; or impair, fail to realize upon or perfect Lender’s
security interest in the collateral; and take any other action deemed necessary by Lender without the consent of or notice
DownPayment Plus Program; Revised 2/2007
226187.1

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