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.
Appears in 2 contracts
Sources: Note Secured by Deed of Trust (Redwood Mortgage Investors Viii), Note Secured by Deed of Trust (Redwood Mortgage Investors Viii)