Common use of Acceleration; Default Clause in Contracts

Acceleration; Default. Maker acknowledges that the loan evidenced by this Note was made on the basis and assumption that Payee would receive the payments of principal and interest set forth herein for the full term of this Note. Therefore, whenever the Maturity Date of the loan evidenced by this Note has been accelerated by reason of an Event of Default under the Loan Documents, which Event of Default occurs prior to the time period, if any, in which prepayment is allowed and prior to the date on which the full amount of the balance of principal and interest then remaining unpaid shall be due, including an acceleration by reason of sale, conveyance, further encumbrance or other Event of Default (which acceleration shall be at Payee’s sole option), there shall be due, in addition to the outstanding principal balance, accrued interest and other sums due under the Loan Documents, a premium equal to the greater of: (a) The sum obtained by adding: (i) the positive amount, if any, equal to (aa) the sum of the present values of all scheduled payments due under this Note from the date of said payment to and including the Maturity Date of the Note, minus (bb) the then outstanding principal balance of the Note, and (ii) 1. 0 % of the then outstanding principal balance of the Note; or (b) An amount equal to 10.0 % of the then outstanding principal balance of the Note. All present values shall be calculated as of the date of said payment, using a discount rate, compounded monthly, equal to the yield rate, converted to its monthly equivalent, of the United States Treasury Security having the closest maturity date to the Maturity Date of the Note as established in the Wall Street Journal or other business publication of general circulation five (5) business days before the date of said payment. In the event that the yield rate on publicly traded United States Treasury Securities is not obtainable, then the nearest equivalent issue or index shall be selected, at Payee’s reasonable determination, and used to calculate the prepayment premium. If an Event of Default occurs on or after the date on which prepayment is permitted, then in lieu of the above premium, payment of a premium calculated in the manner set forth in Section 2 hereof shall be required. A tender of the amount necessary to satisfy the entire indebtedness, paid at any time following such Event of Default or acceleration, including at a foreclosure sale or during any subsequent redemption period, if any, shall be deemed a voluntary prepayment, and, at Payee’s option, such payment shall include a premium as described above.

Acceleration; Default. Maker acknowledges that the loan evidenced by this Note was made on the basis and assumption that Payee Xxxxx would receive the payments of principal and interest set forth herein for the full term of this Noteloan. Therefore, whenever the Maturity Date of the loan evidenced by this Note has been accelerated by reason of an Event of Default under the Loan Documents, which Event of Default occurs prior to the time period, if any, in which prepayment is allowed and prior to the date on which the full amount of the balance of principal and interest then remaining unpaid shall be due, including an acceleration by reason of sale, conveyance, further encumbrance or other Event of Default (which acceleration shall be at Payee’s 's sole option), there shall be due, in addition to the outstanding principal balance, accrued interest and other sums due under the Loan Documents, a prepayment premium equal to the greater of: (a) The sum obtained by adding: (i) the positive amount, if any, equal to (aa) interest which would have accrued on the sum principal balance of the present values of all scheduled payments due under this Note at the Applicable Interest Rate from the date of said payment such acceleration to and including the Maturity Date expiration of the Note, minus (bb) the then outstanding principal balance of the Note, and 2nd Loan Year plus (ii) 1an amount equal to the prepayment premium that would have been due and payable pursuant to Section 2 hereof had such prepayment occurred on the first (1st) day of the 3rd Loan Year. 0 % In addition, in the event of any prepayment made on or prior to the first (1st) day of the 2nd Loan Year, there shall also then be immediately due and payable in addition to the prepayment premium set forth in the preceding sentence an additional sum equal to two percent (2.00%) of the then outstanding principal balance of the this Note; or (b) An amount equal to 10.0 % of the then outstanding principal balance of the Note. All present values shall be calculated as of the date of said payment, using a discount rate, compounded monthly, equal to the yield rate, converted to its monthly equivalent, of the United States Treasury Security having the closest maturity date to the Maturity Date of the Note as established in the Wall Street Journal or other business publication of general circulation five (5) business days before the date of said payment. In the event that the yield rate on publicly traded United States Treasury Securities is not obtainable, then the nearest equivalent issue or index shall be selected, at Payee’s reasonable determination, and used to calculate the prepayment premium. If an Event of Default occurs on or after the date on which prepayment is permitted, then in lieu of the above premium, payment of a premium set forth in this Section 3 calculated in the manner set forth in Section 2 hereof shall be required. Loan No. 6518217 A tender of the amount necessary to satisfy the entire indebtedness, paid at any time following such Event of Default or acceleration, including at a foreclosure sale or during any subsequent redemption period, if any, shall be deemed a voluntary prepayment, and, at Payee’s 's option, such payment shall include a premium as described abovein this Section 3.

Acceleration; Default. Maker acknowledges that the loan evidenced by this Note was made on the basis and assumption that Payee would receive the payments of principal and interest set forth herein for the full term of this Note. Therefore, whenever the Maturity Date of the loan evidenced by this Note has been accelerated by reason of an Event of Default under the Loan Documents, which Event of Default occurs prior to the time period, if any, in which prepayment is allowed and prior to the date on which the full amount of the balance of principal and interest then remaining unpaid shall be due, including an acceleration by reason of sale, conveyance, further encumbrance or other Event of Default (which acceleration shall be at Payee’s sole option), there shall be due, in addition to the outstanding principal balance, accrued interest and other sums due under the Loan Documents, a premium equal to the greater of: (a) The sum obtained by adding: (i) the positive amount, if any, equal to (aa) the sum of the present values of all scheduled payments due under this Note from the date of said payment to and including the Maturity Date of the Note, minus (bb) the then outstanding principal balance of the Note, and (ii) 1. 0 % of the then outstanding principal balance of the Note; or (b) An amount equal to 10.0 % of the then outstanding principal balance of the Note. All present values shall be calculated as of the date of said payment, using a discount rate, compounded monthly, equal to the yield rate, converted to its monthly equivalent, of the United States Treasury Security having the closest maturity date to the Maturity Date of the Note as established in the Wall Street Journal or other business publication of general circulation five (5) business days before the date of said payment. In the event that the yield rate on publicly traded United States Treasury Securities is not obtainable, then the nearest equivalent issue or index shall be selected, at Payee’s reasonable determination, and used to calculate the prepayment premium. If an Event of Default occurs on or after the date on which prepayment is permittedpennitted, then in lieu of the above premium, payment of a premium calculated in the manner set forth in Section 2 hereof shall be required. A tender of the amount necessary to satisfy the entire indebtedness, paid at any time following such Event of Default or acceleration, including at a foreclosure sale or during any subsequent redemption period, if any, shall be deemed a voluntary prepayment, and, at Payee’s option, such payment shall include a premium as described above.

Acceleration; Default. Maker acknowledges that the loan evidenced by this Note was made on the basis and assumption that Payee Xxxxx would receive the payments of principal and interest set forth herein for the full term of this Noteloan. Therefore, whenever the Maturity Date of the loan evidenced by this Note has been accelerated by reason of an Event of Default under the Loan Documents, which Event of Default occurs prior to the time period, if any, in which prepayment is allowed and prior to the date on which the full amount of the balance of principal and interest then remaining unpaid shall be due, including an acceleration by reason of sale, conveyance, further encumbrance or other Event of Default (which acceleration shall be at Payee’s 's sole option), there shall be due, in addition to the outstanding principal balance, accrued interest and other sums due under the Loan Documents, a prepayment premium equal to the greater of: (a) The sum obtained by adding: (i) the positive amount, if any, equal to (aa) interest which would have accrued on the sum principal balance of the present values of all scheduled payments due under this Note at the Applicable Interest Rate from the date of said payment such acceleration to and including the Maturity Date expiration of the Note, minus (bb) the then outstanding principal balance of the Note, and 2nd Loan Year PLUS (ii) 1an amount equal to the prepayment premium that would have been due and payable pursuant to Section 2 hereof had such prepayment occurred on the first (1st) day of the 3rd Loan Year, In addition, in the event of any prepayment made on or prior to the first (1st) day of the 2nd Loan Year, there shall also then be immediately due and payable in addition to the prepayment premium set forth in LOAN NO. 0 % 6518291 the preceding sentence an additional sum equal to two percent (2.00%) of the then outstanding principal balance of the this Note; or (b) An amount equal to 10.0 % of the then outstanding principal balance of the Note. All present values shall be calculated as of the date of said payment, using a discount rate, compounded monthly, equal to the yield rate, converted to its monthly equivalent, of the United States Treasury Security having the closest maturity date to the Maturity Date of the Note as established in the Wall Street Journal or other business publication of general circulation five (5) business days before the date of said payment. In the event that the yield rate on publicly traded United States Treasury Securities is not obtainable, then the nearest equivalent issue or index shall be selected, at Payee’s reasonable determination, and used to calculate the prepayment premium. If an Event of Default occurs on or after the date on which prepayment is permitted, then in lieu of the above premiumpremium set forth in this Section 3, payment of a premium calculated in the manner set forth in Section 2 hereof shall be required. A tender of the amount necessary to satisfy the entire indebtedness, paid at any time following such Event of Default or acceleration, including at a foreclosure sale or during any subsequent redemption period, if any, shall be deemed a voluntary prepayment, and, at Payee’s 's option, such payment shall include a premium as described abovein this Section 3.

Acceleration; Default. Maker acknowledges that the loan evidenced by this Note was made on the basis and assumption that Payee Xxxxx would receive the payments of principal and interest set forth herein for the full term of this Noteloan. Therefore, whenever the Maturity Date of the loan evidenced by this Note has been accelerated by reason of an Event of Default under the Loan Documents, which Event of Default occurs prior to the time period, if any, in which prepayment is allowed and prior to the date on which the full amount of the balance of principal and interest then remaining unpaid shall be due, including an acceleration by reason of sale, conveyance, further encumbrance or other Event of Default (which acceleration shall be at Payee’s 's sole option), there shall be due, in addition to the outstanding principal balance, accrued interest and other sums due under the Loan Documents, a prepayment premium equal to the greater of: (a) The sum obtained by adding: (i) the positive amount, if any, equal to (aa) interest which would have accrued on the sum principal balance of the present values of all scheduled payments due under this Note at the Applicable Interest Rate from the date of said payment such acceleration to and including the Maturity Date expiration of the Note, minus (bb) the then outstanding principal balance of the Note, and 2nd Loan Year PLUS (ii) 1an amount equal to the prepayment premium that would have been due and payable pursuant to Section 2 hereof had such prepayment occurred on the first (1 st) day of the 3rd Loan Year. 0 % In addition, in the event of any prepayment made on or prior to the first (1st) day of the 2nd Loan Year, there shall also then be immediately due and payable in addition to the prepayment premium set forth in the preceding sentence an additional sum equal to two percent (2.00%) of the then outstanding principal balance of the this Note; or (b) An amount equal to 10.0 % of the then outstanding principal balance of the Note. All present values shall be calculated as of the date of said payment, using a discount rate, compounded monthly, equal to the yield rate, converted to its monthly equivalent, of the United States Treasury Security having the closest maturity date to the Maturity Date of the Note as established in the Wall Street Journal or other business publication of general circulation five (5) business days before the date of said payment. In the event that the yield rate on publicly traded United States Treasury Securities is not obtainable, then the nearest equivalent issue or index shall be selected, at Payee’s reasonable determination, and used to calculate the prepayment premium. If an Event of Default occurs on or after the date on which prepayment is permitted, then in lieu of the above premiumpremium set forth in this Section 3, payment of a premium calculated in the manner set forth in Section 2 hereof shall be required. A tender of the amount necessary to satisfy the entire indebtedness, paid at any time following such Event of Default or acceleration, including at a foreclosure sale or during any subsequent redemption period, if any, shall be deemed a voluntary prepayment, and, at Payee’s 's option, such payment shall include a premium as described above.in this Section 3. Loan No. 6518403

Acceleration; Default. Maker acknowledges that the loan evidenced by this Note Folsom Loan was made on the basis and assumption that Payee would receive the payments of principal and interest set forth herein xxxxxn for the full term of this Noteloan. Therefore, whenever the Maturity Date of the loan evidenced by this Note Folsom Loan has been accelerated by reason of an Event of Default under the Loan Documents, which Event of Default occurs prior to the time period, if any, in which prepayment is allowed and prior to the date on which the full amount of the balance of principal and interest then remaining unpaid shall be due, including an acceleration by reason of sale, conveyance, further encumbrance or other Event of Default (which acceleration shall be at Payee’s 's sole option), there shall be due, in addition to the outstanding principal balance, accrued interest and other sums due under the Loan Documents, a premium equal to the greater of: (a) The sum obtained by adding: (i) the positive amount, if any, equal to (aa) the sum of the present values of all scheduled payments due under this Note from the date of said payment to and including the Maturity Date of the this Note, minus (bb) the then outstanding principal balance of the this Note, and (ii) 1. 0 5.00% of the then outstanding principal balance of the this Note; or (b) An amount equal to 10.0 10.00% of the then outstanding principal balance of the this Note. All present values shall be calculated as of the date of said payment, using a discount rate, compounded monthly, equal to the yield rate, converted to its monthly equivalent, of the United States Treasury Security having the closest maturity date to the Maturity Date of the this Note as established in the Wall Street Journal or other business publication of general circulation five (5) business days before the date of said payment. In the event that the yield rate on publicly traded United States Treasury Securities is not obtainable, then the nearest equivalent issue or index shall be selected, at Payee’s 's reasonable determination, and used to calculate the prepayment premium. If an Event of Default occurs on or after the date on which prepayment is permitted, then in lieu of the above premium, payment of a premium calculated in the manner set forth in Section 2 hereof shall be required. A tender of the amount necessary to satisfy the entire indebtedness, paid at any time following such Event of Default or acceleration, including at a foreclosure sale or during any subsequent redemption period, if any, shall be deemed a voluntary prepayment, and, at Payee’s 's option, such payment shall include a premium as described above.. Maker hereby expressly (a) waives any right it may have under California Civil Code Section 2954.10 to prepay this Note in whole or in part, without premium, upon acceleration of the Maturity Date of this Note; and (b) agrees that if a prepayment of any or all of this Note is made, following any acceleration of the Maturity Date of this Note by Payee on account of any transfer or disposition prohibited or restricted herein or by the Folsom Deed of Trust (as hereinafter defined) or for any other reason, Maker shall be obligated to pay, concurrently therewith, the prepayment amount, if any, that would be required hereunder. By initialing this provision in the space provided below, Maker hereby declares that Payee's agreement to make the subject loan at the interest rate and fxx xxe term set forth herein constitutes adequate consideration, given individual weight by the undersigned, for this waiver and agreement. /s/ AKM /s/ CPW ----------------------------- --------------------------- Initials of Allen K. Meredith Initials Charles P. Wingard

Acceleration; Default. Maker acknowledges that the loan evidenced by this Note Loan was made on the basis and assumption that Payee Xxxxx would receive the payments of principal and interest set forth herein for the full term of this NoteLoan. Therefore, whenever the Maturity Date of the loan evidenced by this Note Loan has been accelerated by reason of an Event of Default under the Loan Documents, which Event of Default occurs prior to the time period, if any, in which prepayment is allowed and prior to the date on which the full amount of the balance of principal and interest then remaining unpaid shall be due, including an acceleration by reason of sale, conveyance, further encumbrance or other Event of Default (which acceleration shall be at Payee’s sole option), there shall be due, in addition to the outstanding principal balance, accrued interest and other sums due under the Loan Documents, a premium equal to the greater of: (a) The sum obtained by adding: (i) the positive amount, if any, equal to (aa) the sum of the present values of all scheduled payments due under this Note from the date of said payment to and including the Maturity Date of the this Note, minus (bb) the then outstanding principal balance of the this Note, and (ii) one percent (1. 0 % %) of the then outstanding principal balance of the this Note; or (b) An amount equal to 10.0 % ten percent (10%) of the then outstanding principal balance of the this Note. All present values shall be calculated as of the date of said payment, using a discount rate, compounded monthly, equal to the yield rate, converted to its monthly equivalent, of the United States Treasury Security having the closest maturity date to the Maturity Date of the this Note as established by Payee in the Wall Street Journal or other business publication of general circulation five (5) business days before the date of said paymentits reasonable discretion. In the event that the yield rate on publicly traded United States Treasury Securities is not obtainable, then the nearest equivalent issue or index shall be selected, at Payee’s reasonable determination, and used to calculate the prepayment premium. If an Event of Default occurs on or after the date on which prepayment is permitted, then in lieu of the above premium, payment of a premium calculated in the manner set forth in Section 2 hereof shall be required. A tender of the amount necessary to satisfy the entire indebtedness, paid at any time following such Event of Default or acceleration, including at a foreclosure sale or during any subsequent redemption period, if any, shall be deemed a voluntary prepayment, and, at Payee’s option, such payment shall include a premium as described above.

Acceleration; Default. Maker acknowledges that the loan evidenced by this Note was made on the basis and assumption that Payee Xxxxx would receive the payments of principal and interest set forth herein for the full term of this Noteloan. Therefore, whenever the Maturity Date of the loan evidenced by this Note has been accelerated by reason of an Event of Default under the Loan Documents, which Event of Default occurs prior to the time period, if any, in which prepayment is allowed and prior to the date on which the full amount of the balance of principal and interest then remaining unpaid shall be due, including an acceleration by reason of sale, conveyance, further encumbrance or other Event of Default (which acceleration shall be at Payee’s 's sole option), there shall be due, in addition to the outstanding principal balance, accrued interest and other sums due under the Loan Documents, a prepayment premium equal to the greater of: (a) The sum obtained by adding: (i) the positive amount, if any, equal to (aa) interest which would have accrued on the sum principal balance of the present values of all scheduled payments due under this Note at the Applicable Interest Rate from the date of said payment such acceleration to and including the Maturity Date expiration of the Note, minus (bb) the then outstanding principal balance of the Note, and 2nd Loan Year PLUS (ii) 1an amount equal to the prepayment premium that would have been due and payable pursuant to Section 2 hereof had such prepayment occurred on the first (1st) day of the 3rd Loan Year. 0 % In addition, in the event of any prepayment made on or prior to the first (1st) day of the 2nd Loan Year, there shall also then be immediately due and payable in addition to the prepayment LOAN NO. 6518370 premium set forth in the preceding sentence an additional sum equal to two percent (2.00%) of the then outstanding principal balance of the this Note; or (b) An amount equal to 10.0 % of the then outstanding principal balance of the Note. All present values shall be calculated as of the date of said payment, using a discount rate, compounded monthly, equal to the yield rate, converted to its monthly equivalent, of the United States Treasury Security having the closest maturity date to the Maturity Date of the Note as established in the Wall Street Journal or other business publication of general circulation five (5) business days before the date of said payment. In the event that the yield rate on publicly traded United States Treasury Securities is not obtainable, then the nearest equivalent issue or index shall be selected, at Payee’s reasonable determination, and used to calculate the prepayment premium. If an Event of Default occurs on or after the date on which prepayment is permitted, then in lieu of the above premiumpremium set forth in this Section 3, payment of a premium calculated in the manner set forth in Section 2 hereof shall be required. A tender of the amount necessary to satisfy the entire indebtedness, paid at any time following such Event of Default or acceleration, including at a foreclosure sale or during any subsequent redemption period, if any, shall be deemed a voluntary prepayment, and, at Payee’s 's option, such payment shall include a premium as described abovein this Section 3.

Acceleration; Default. Maker acknowledges that the loan evidenced by this Note was made on the basis and assumption that Payee would receive the payments of principal and interest set forth herein for the full term of this Note. Therefore, whenever the Maturity Date of the loan evidenced by this Note has been accelerated by reason of an Event of Default under the Loan Documents, which Event of Default occurs prior to the time period, if any, in which prepayment is allowed and prior to the date on which the full amount of the balance of principal and interest then remaining unpaid shall be due, including an acceleration by reason of sale, conveyance, further encumbrance or other Event of Default (which acceleration shall be at Payee’s sole option), there shall be due, in addition to the outstanding principal balance, accrued interest and other sums due under the Loan Documents, a premium equal to the greater of: (a) The sum obtained by adding: (i) the positive amount, if any, equal to (aa) the sum of the present values of all scheduled payments due under this Note from the date of said payment to and including the Maturity Date of the Note, minus (bb) the then outstanding principal balance of the Note, and (ii) 1. 0 % of the then outstanding principal balance of the Note; or (b) An amount equal to 10.0 % of the then outstanding principal balance of the Note. All present values shall be calculated as of the date of said payment, using a discount rate, compounded monthly, equal to the yield rate, converted to its monthly equivalent, of the United States Treasury Security having the closest maturity date to the Maturity Date of the Note as established in the Wall Street Journal or other business publication of general circulation five (5) business days before the date of said payment. payment In the event that the yield rate on publicly traded United States Treasury Securities is not obtainable, then the nearest equivalent issue or index shall be selected, at Payee’s reasonable determination, and used to calculate the prepayment premium. If an Event of Default occurs on or after the date on which prepayment is permitted, then in lieu of the above premium, payment of a premium calculated in the manner set forth in Section 2 hereof shall be required. A tender of the amount necessary to satisfy the entire indebtedness, paid at any time following such Event of Default or acceleration, including at a foreclosure sale or during any subsequent redemption period, if any, shall be deemed a voluntary prepayment, and, at Payee’s option, such payment shall include a premium as described above.

Acceleration; Default. Maker acknowledges that the loan evidenced by this Note was made on the basis and assumption that Payee would receive the payments of principal and interest set forth herein for the full term of this Note. Therefore, whenever the Maturity Date of the loan evidenced by this Note has been accelerated by reason of an Event of Default under the Loan Documents, which Event of Default occurs prior to the time period, if any, in which prepayment is allowed and prior to the date on which the full amount of the balance of principal and interest then remaining unpaid shall be due, including an acceleration by reason of sale, conveyance, further encumbrance or other Event of Default (which acceleration shall be at Payee’s sole option), there shall be due, in addition to the outstanding principal balance, accrued interest and other sums due under the Loan Documents, a premium equal to the greater of: (a) The sum obtained by adding: (i) the positive amount, if any, equal to (aa) the sum of the present values of all scheduled payments due under this Note from the date of said payment to and including the Maturity Date of the Note, minus (bb) the then outstanding principal balance of the Note, and (ii) 1. 0 0% of the then outstanding principal balance of the Note; or (b) An amount equal to 10.0 10.0% of the then outstanding principal balance of the Note. All present values shall be calculated as of the date of said payment, using a discount rate, compounded monthly, equal to the yield rate, converted to its monthly equivalent, of the United States Treasury Security having the closest maturity date to the Maturity Date of the Note as established in the Wall Street Journal or other business publication of general circulation five (5) business days before the date of said payment. In the event that the yield rate on publicly traded United States Treasury Securities is not obtainable, then the nearest equivalent issue or index shall be selected, at Payee’s reasonable determination, and used to calculate the prepayment premium. If an Event of Default occurs on or after the date on which prepayment is permitted, then in lieu of the above premium, payment of a premium calculated in the manner set forth in Section 2 hereof shall be required. A tender of the amount necessary to satisfy the entire indebtedness, paid at any time following such Event of Default or acceleration, including at a foreclosure sale or during any subsequent redemption period, if any, shall be deemed a voluntary prepayment, and, at Payee’s option, such payment shall include a premium as described above.