Fillable Printable Mortgage Note Multistate

Mortgage Note Multistate

MULTISTATE FIXED RATE NOTE--Single Family--Fannie Mae/Freddie Mac UNI F ORM INSTRUMEN T Form 3200 1/01 (page 1 of 3 pages)

NOTE

, ,

[Date] [City] [State]

[Property Address]

1. BORROWER’S PROMISE TO PAY

In return for a loan that I have received, I promise to pay U.S. $

(this amount is called

“Principal”), plus interest, to the order of the Lender. The Lender is

. I w ill make all pay ments under this Note in the form of cash, check or money order.

I understand that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and who is

entitled to receive pay ments under this Note is called the “Note H older.”

2. INTEREST

Interest will be charged on unpaid principal until the full amount of Principal has been paid. I will pay interest at a

yearly rate of

The interest rate required by this Section 2 is the rate I will pay both before and after any default described in Section

6(B) of this Note.

3. PAYMENTS

(A) Time and Place of Payments

I w ill pay principal and interest by m aking a paym ent every m onth.

I w ill make m y m onthly paym ent on the

day of each m onth beginning on ,

. I will make these payments every month until I have paid all of the principal and interest and any other charges

described below that I may owe under this Note. Each monthly pay ment will be applied as of its scheduled due date and will

be applied to interest before Principal. If, on

, 20 , I still owe amounts under this Note, I will

pay those am ounts in full on that date, which is called the “Maturity Date.”

I will make my monthly payments at

or at a different place if required by the Note H older.

(B) Amount of Monthly Payments

My m onthly paym ent will be in the amount of U.S. $

4. BORROWER’S RIGHT TO PREPAY

I have the rig ht to mak e paym ents of Principal at any time before they are due. A paym ent of Principal only is known as

a “Prepayment.” When I make a Prepayment, I will tell the Note Holder in writing that I am doing so. I may not designate a

paym ent as a Prepayment if I have not m ade all the monthly pay ments due under the Note.

I may make a full Prepayment or partial Prepayments without paying a Prepayment charge. The Note Holder will use

my Prepayments to reduce the amount of Principal that I owe under this Note. However, the Note Holder may apply my

Prepayment to the accrued and unpaid interest on the Prepayment amount, before applying my Prepayment to reduce the

Principal amount of the N ote. If I m ake a partial Prepayment, there will be no chang es in the due date or in the am ount of my

monthly payment unless the N ote Holder agrees in writing to those changes.

5. LOAN CHARGES

If a law, which applies to this loan and which sets maximum loan charges, is finally interpreted so that the interest or

other loan charges collected or to be collected in connection with this loan exceed the perm itted limits, then: (a) any such loan

charge shall be reduced by the amount necessary to reduce the charge to the permitted lim it; and (b) any sum s already collected

from me which exceeded permitted limits will be refunded to me. The Note Holder may choose to make this refund by

reducing the Principal I owe under this Note or by mak ing a direct pay m ent to m e. I f a refund reduces Principal, the reduction

will be treated as a partial Prepaym ent.

MULTISTATE FIXED RATE NOTE--Single Family--Fannie Mae/Freddie Mac UNI F ORM INSTRUMEN T Form 3200 1/01 (page 2 of 3 pages)

6. BORROWER’S FAILURE TO PAY AS REQUIRED

(A) Late Charge for Overdue Payments

If the N ote Holder has not received the full amount of any monthly pay ment by the end of

calendar days

after the date it is due, I w ill pay a late charge to the Note H older. The am ount of the charge will be

% of my

overdue pay ment of principal and interest. I w ill pay this late charge prom ptly but only once on each late pay ment.

(B) Default

If I do not pay the full am ount of each monthly pay ment on the date it is due, I w ill be in default.

If I am in default, the Note Holder may send me a written notice telling m e that if I do not pay the overdue am ount by a

certain date, the Note Holder may require me to pay imm ediately the full amount of Principal which has not been paid and all

the interest that I owe on that am ount. That date m ust be at least 30 days after the date on which the notice is m ailed to m e or

delivered by other means.

(D) No Waiver By Note Holder

Even if, at a time when I am in default, the Note Holder does not require me to pay immediately in full as described

above, the No te Holder will still have the rig ht to do so if I am in default at a later tim e.

(E) Payment of Note Holder’s Costs and Expenses

If the Note Holder has required m e to pay im m ediately in full as described abov e, the Note H older will hav e the right to

be paid back by me for all of its costs and expenses in enforcing this Note to the extent not prohibited by applicable law. Those

expenses include, for example, reasonable attorney s’ fees.

7. GIVING OF NOTICES

Unless applicable law requires a different method, any notice that must be giv en to me under this Note will be g iven by

delivering it or by mailing it by first class mail to me at the Property Address above or at a different address if I give the Note

Holder a notice of my different address.

Any notice that must be given to the Note Holder under this Note will be giv en by delivering it or by m ailing it by first

class mail to the Note Holder at the address stated in Section 3(A ) abov e or at a different address if I am g ive n a notice of that

different address.

8. OBLIGATIONS OF PERSONS UNDER THIS NOTE

If m ore than one person signs this No te, each person is fully and personally obligated to k eep all of the promises m ade in

this Note, including the prom ise to pay the full am ount owed. Any person who is a guarantor, surety or endorser of this Note is

also obligated to do these thing s. Any person who tak es over these oblig ations, including the obligations of a guarantor, surety

or endorser of this Note, is also obligated to keep all of the prom ises made in this Note. The Note Holder may enforce its rights

under this Note against each person indiv idually or ag ainst all of us together. This means that any one of us m ay be required to

pay all of the am ounts owed under this Note.

9. WAIVERS

I and any other person who has obligations under this Note waive the rights of Presentment and Notice of Dishonor.

“Presentment” means the right to require the Note Holder to demand payment of amounts due. “Notice of Dishonor” means

the right to require the Note Holder to g ive notice to other persons that amounts due hav e not been paid.

10. UNIFORM SECURED NOTE

This Note is a uniform instrument with limited variations in some jurisdictions. In addition to the protections given to

the Note Holder under this Note, a Mortgag e, Deed of Trust, or Security Deed (the “Security I nstrument”), dated the same date

as this Note, protects the Note Holder from possible losses which might result if I do not keep the promises which I make in

this Note. That Security Instrument describes how and under what conditions I may be required to make immediate payment

in full of all amounts I owe under this Note. Som e of those conditions are described as follows:

If all or any part of the Property or any I nterest in the Property is sold or transferred (or if Borrower is

not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender’s prior

written consent, Lender may require immediate payment in full of all sums secured by this Security

Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by

Applicable Law.

MULTISTATE FIXED RATE NOTE--Single Family--Fannie Mae/Freddie Mac UNI F ORM INSTRUMEN T Form 3200 1/01 (page 3 of 3 pages)

If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall

provide a period of not less than 30 days from the date the notice is given in accordance with Section 15

within which B orrower must pay all sums secured by this Security I nstrum ent. I f Borrower fails to pay these

sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security

Instrum ent without further notice or demand on Borrower.

WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED

(Seal)

- B orrower

(Seal)

- B orrower

(Seal)

- B orrower

[Sign Original Only]