Promissory Note (Page 4 of 4) in pdf

Promissory Note Page 4

If Borrower refinances and the mortgage property remains subject to the encumbrance created by this Rider, then

Borrower shall not be required to repay any portion of the Subsidy.

The Borrower’s obligation to repay the Subsidy shall terminate after the mortgage property is foreclosed upon.

Reimbursement of said Subsidy shall be made directly to

( Name of Institution)

(Street Address)

(City, State, Zip)

The Borrower and Lender further agree that in the event the Subsidy is not repaid in accordance with the provisions set

forth above, Lender may commence legal action to collect such funds in accordance with the terms of this Rider and

Borrower may be liable for any court costs in addition to any sums incurred in collection of this amount.

This Rider shall expire on

, unless the terms of this Rider require repayment at an earlier date.

IN WITNESS WHEREOF, Borrower has executed this Promissory Note Rider.

______________________________________

Borrower’s Name

______________________________________

Date ______________________________________

Borrower’s Signature

______________________________________

Co-Borrower’s Name

______________________________________

Date ______________________________________

Co-Borrower’s Signature

DownPayment Plus Program; Revised 2/2007

226187.1

Promissory Note Page 4