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MAKER BENEFICIARY

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					MAKER & BENEFICIARY AGREE AS FOLLOWS:
1. ______________________________________ (Maker) shall give ______________________________________ (Beneficiary) a promissory note in the amount of $______________ a. Promissory note shall bear interest of __________% per annum b. Interest shall begin accruing at _____________ c. First payment shall be due ____________________ and each consecutive month thereafter d. payments shall be interest only or more e. Payments shall be made to the place of beneficiary's choosing f. All outstanding principle shall be due to beneficiary on or before ______ years from closing 2. Maker of the note shall have first right of refusal to purchase the note should beneficiary elect to sell the note prior to maturity 3. The note shall be initially collateralized by the ___________________ (legal description attached) 4. Maker, at maker's option may substitute the collateral for the Note to a different piece of real property provided the equity in the substitute property is equal or greater than the outstanding principle balance on the Note at the time of substitution 5. The Note may be exchanged into multiple Notes of smaller amounts, provided that the aggregate sum of the smaller Notes equals the outstanding principal balance on the Note at the time of the exchange and all of the provisions set forth herein shall apply to such smaller Notes. 6. Attached hereto are Promissory Note, Dead of Trust and Legal Description

MAKER __________________________________ DATE _____________________ MAKER __________________________________ DATE _____________________ BENEFICIARY ____________________________ DATE _____________________ BENEFICIARY ____________________________ DATE _____________________


				
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posted:6/6/2009
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