Exhibit 10.3(d)
NOTE SECURED BY DEED OF TRUST
Loan No. ___________________________
___________________________, 19_____ _____________________, California
1. XXXXXXXXX PROMISE TO PAY LOAN AND INTEREST
In return for a loan I promise to pay $________________ (this amount will
be called Principal), plus interest at a yearly rate of _____________ percent
(_______%) to the order of_______________________ (who will be called Lender).
I understand that the Lender may transfer this Note. The Lender or anyone
who takes an interest in this Note by transfer and who is entitled to receive
payments under this Note will be called the Note Holder(s).
All payments received on this Note shall be applied pro rata in proportion
to the interest held by each of the Note Holder(s).
Interest will be charged on that part of Principal which has not been paid.
Interest will be charged beginning on _________________, 19_____ and continuing
until the full amount of Principal and interest has been paid. I also agree to
pay interest at the above rate on the prepaid finance charges which are a part
of the Principal.
2. PAYMENTS
I will pay interest only by making payments each month of
$_________________. I will make my payments on the _______ day of each month
beginning on _____________________, 19____. I will make these payments every
month until ________________, 19____ (the Due Date). On the Due Date I will
still owe the Principal; on the Due Date I will pay all amounts I owe under this
Note, in full, on that date.
I will make my monthly payments at P.O. Box 5096, Redwood City, CA
94063-0096 or at a different place if I am notified by the Note Holder(s).
3. BORROWERS FAILURE TO PAY AS REQUIRED
(A) LATE CHARGE FOR OVERDUE PAYMENTS
If the Note Holder(s) has not received the full amount of any of my monthly
payments by the end of 10th calendar days after the date it is due, I will pay a
late charge to the Note Holder(s). The amount of the charge will be 6% of the
amount overdue or $5.00, whichever is more. I will pay this late charge only
once on any late payment.
(B) NONPAYMENT - DEFAULT
If I do not pay any payment of Principal or interest by the date stated in
Section 2 above, I will be in default, and the Lender and the Note Holder may
demand that I pay immediately all amounts that I owe under this Note.
Even if, at a time which I am in default, the Note Holder does not demand
that I pay immediately in full as described above, the Note Holder will still
have the right to do so if I am in default at a later time. If there is more
than one Note Holder, any one Note Holder may exercise any right under this Note
in the event of a default. A default upon any interest of any Note Holder shall
be a default upon all interests.
(C) ADVANCES
All advances made pursuant to the terms of the Deed of Trust securing this
Note shall bear interest from the date of advance at the rate of interest in
this Note.
(D) PAYMENT OF NOTE HOLDERS COSTS AND EXPENSES
If the Note Holder has required me to pay immediately in full as described
above, the Note Holder will have the right to be paid back for all of its costs
and expenses to the extent not prohibited by applicable law. Those expenses
include, for example, reasonable attorneys fees.
(E) INTEREST INCREASE IF NOTE NOT PAID ON DUE DATE
If the Note Holder has not received all amounts owed under this Note on the
Due Date, I will pay interest on the full amount of unpaid Principal at ________
% per annum plus the loan or forbearance rate established by the Federal Reserve
Bank of San Francisco on advances to member banks under Section 13 and 13a of
the Federal Reserve Act, on the Due Date, or the rate of interest called for in
this Note, whichever is greater.
4. THIS NOTE IS SECURED BY A DEED OF TRUST
This Note is secured by a Deed of Trust upon real property in
_______________________ County, California.
5. BORROWERS REQUIRED REPAYMENT IN FULL BEFORE THE SCHEDULED DATE
In the event of any sale or conveyance of any part of the real property
described in the Deed of Trust securing this Note, then the Note Holder(s) may
demand payment in full of all amounts that I owe under this Note, as allowed by
law.
6. BORROWERS PAYMENTS BEFORE THEY ARE DUE - PREPAYMENT PENALTY.
I have the right to make payments of principal at any time before they are
due. There shall be no prepayment penalty.
7. INTENT TO COMPLY WITH LAW
It is the intent of all of the parties to this Note to abide by all of the
provisions of the California Business and Professions Code governing Real
Property Loans and any terms of this Note inconsistent with that law are hereby
waived by the Lender and Note Holder(s).
_______________________________________________ ________________________
(Borrower) (Date)
_______________________________________________ ________________________
(Borrower) (Date)
