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-11111111111111N O n

L O ~ i f __May 10. 2004[Dale]

NOTE IHA Cu. No. -,I1167 GRENADA PLACE. BRONX.NY 10466 ../[Propert;y Addresl]

I. PARTIES"Borrower" means each persoo signing at the end of this Note. and the perIOn's succesaors and IISsigm. -Lender- meansLEND AMERICAand its . . . . . . . . ." . and . . . gns.2. BORROWER'S PROMISE TO PAY; INTEIIESTIn return for .toan received from. Lender, Borrower promises to pay the principal sumofThree Hundred Seventy Four Thousand Thirty Seven and no/100Dollars (U.s. $ 374,037.00./ ). plu. intcn:st. to the 0Jder of Lender. Interest wHl be charged on unpaid principal,from the date of disbursement of the 10ao proceeds by Lender, at the rate of Sixpen:ent ( 6. 0000 " ) per year unhl the full amount of principal . . . . been pald.3. PROMISE TO PAY SECURED

Borrower', promise to pay is secured by a mortpge, deed of tms1 or similar security inltnnnent that is dated the same dilleIS this Note and called the "Security IDstmment." The Security InllnJmellt proteCI8 the Lender from 10 . . . which might . . . . 1 ifBorrower defaults IDld .. thll Note.4. MANNER OF PAYMENT(A ) 11meBomnver lIIail make payment of principal and iDterest to Lender on the first day of each month beginning onJuJ.y 1 ,2004. Any principal and in t . . . . tomaining on the lilllt day of June 12034 . / ,wiD be due on tbst dote, which II called the "Maturity Date."(B) PlaeePayment shall be made at 201 OLD COUNTRY ROAD. MELVILLE. NY 11747 oi

by notice to Borrower.(C) Amount

or at such place as Lender may designate in writing

Bach monthly payment of principal and interest will be in thelllllOU1tl of U.S. $ 2. 242.54;' . This amountwill be pan of larger monthly ""IuiMd by the Seourity 1n'lnJment, tbst shall be applied to principal. interest andother items in the order described in the Security Inlllnllnent.(D) ADo.., to this Note fo r__ 8e11- "

If an allonge providin& for payment adjustments ia executed by Borrower together with this Note. the covenants ofthe allonge shall be incorporated. into and shalllllDCDd and supplement the c:oveoaots of thia Note as if the allonge were a pan ofIhia Note. [Check applicable box]

DGraduated PaytneDI Allonge DGrowing Equity AllonS" DOth..- [specify)5. BORROWER'S RIGHT TO PREPAYBonowcr bas the right to pay the debt cvideDccd by thil Note. in whole or in part. without cIwze or penalty. on dtb fimday of IDlY mcmth. Lender shall accept prepsymcnt on other days provided. that Borrower pays interelrt on the amount prepaid forthe remaindu of the month to ebe exteDI: required by Lender and pemUlted by regulatioos of the Secretary. IT Borrower makes apartial prepayment. there wiD be no changes in the due date or In the amount of the monchly paymeot. unless Lender agrees inwriting to those c:I!ang . .

FHA. Ml1IdaIe Fbed.lWe NDie - 10m,... 1R 102:101. . . . . VMPMORTGAGE"f'OfWIS-1t00I1521-7291 I. _p.. . 1 ell 2 MW lew! Il'itials: l:..I!ll....J.. ,.,...,.

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". -.6. BORROWER'S FAILURE TO 1".4.Y(i\) Late CIuIriIe r .. Overdue I'IqmeDts If LeudcI" hu DOl ""';YCd !be ruB lDODIhly payment t Note____ on ",ben DOl permitted by HUD regu!aliON. AI UICdin litis Note, "Sccn:wy" mems the Sccn:wy of HOU8In& aud UrbIm Devdopmat! or bl. or her deaignee.(C) orCGoU andI f x- Ie t hu n:quired immediate_In 'un . . . clelK:nOed above, Leader may require Borrower to pay costs ond.. ens . iDcluding . . . . ."..ble and CUIlOttW'y anoruey.' feel for _n : i ng this Note 10 the exteu! DO' probiblled by applicablelaw. Such fees 8Dd COIla shall bear iDterat from the dale of disbunemeot at the woe rate u the principal of thll Note.

7,W.4.IVERSBorrow

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LOAN #Multistate NOTE~ L ____________________ ~ = = = = = = = = = = ~

1.PARTms

May 10. 2004[Date]1167 GRENADA PLACE.BRONX.NY 10466[Property Address]

"Borrower" means each person signing at the end of this Note, and the person's successors and assigns. "Lender" meansLEND AMERICAand its successors and assigns.2. BORROWER'S PROMISE TO PAY; INTERESTIn return for a loan received from Lender, Borrower promises to pay the principal sum ofThree Hundred Seventy Four Thousand Thirty Seven and no/IOODollars (U.S. $ 374.037.00 ), plus interest, to the order of Lender. Interest will be charged on unpaid principal,from the date of disbursement of the loan proceeds by Lender, at the rate of Sixpercent ( 6 0000 %) per year until the full amount of principal has been paid.3 . PROMISE TO PAY SECUREDBorrower's promise to pay is secured by a mortgage, deed of trust or similar security -instrument that is dated the same dateas this Note and called the "Security Instrument." The Security Instrument protects the Lender from losses which might result ifBorrower defaults under this Note.4. MANNER OF PAYMENT

(A) TimeBorrower shall make a payment of principal and interest to Lender on the fIrst day of each month beginning onJuly 1 , 2004 . Any principal and interest remaining on the fIrst day of June 12034 ,will be due. on that date, which is called the "Maturity Date. "(B) PlacePayment shall be made at 201 OLD COUNTRY ROAD. MELVILLE. NY 11747

or at such place as Lender may designate in writingby notice to Borrower.(C) AmountEach monthly payment of principal and interest will be in the amount of U.S. $ 2.242.54 .This amountwill be part of a larger monthly payment required by the Security Instrument, that shall be applied to principal, interest andother items in the order described in the Security Instrument.

(I ) Allonge to this Note for payment adjlJStmentsI f an allonge providing for payment adjustments is executed by Borrower together with this Note, the covenants ofthe allonge shall be incorporated into and shall amend and supplement the covenants of this Note as if the allonge were a part ofthis Note. [Check applicable box]

DGraduated Payment Allonge DGrowing Equity Allonge DOther [specify]5. BORROWER'S RIGHT 1'0 PREPAYBorrower has the right to pay the debt evidenced by this Note. in whole or in part. without charge or penalty. on the fIrstday of any month. Lender shall accept prepayment on other days provided that Borrower pays interest on the amount prepaid forthe remainder of the month to the extent required by Lender and pennitted by regulations of the Secretary. If Borrower makes apartial prepayment. there will be no changes in the due date or in the amount of the monthly payment unless Lender agrees inwriting to those changes.J'II!!!II':\ FHA Multistate Fixed Rate Note - 10/951R 10210)

VMP MORTGAGE fORMS" 1800]5217291 il (__Page 1 of 2 MW 10102 Initial:>: j "M Cr-- 11111I1111111111111

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6. BORROWER'S FAILURE TO PAY(A) Late Charge fo r Overdue PaymentsIf Lender bas not received the full monthly payment required by the Security Instrument. as described in Paragrapb4(C) of this Note, by the end of fifteen calendar days after the payment is due. Lender may collect a late charge in the amount

of Four percent ( 4. 0000 %) of the overdue amount of each payment.(B) Defatdt

I f Borrower defutdts by failing to pay in full any mmthly payment, then Lender may. except as limited by regulationsof the Secretary in the case of payment defaults, require inunediate payment in full of the principal balance remaining due andall accrued interest. Lender may choose not to exercise this option without waiving its rights in the event of any subsequentdefault. In many circumstances regulations issued by the Secretary will limit Lender's rights to require inunediate payment infull in the case of payment defaults. This Note does not authorize acceleration when not permitted by HUD regtdations. As usedin this Note, IISecretarytl means the Secretary of Housing and Urban Development or his or her designee.

(C) Payment of Costs and ExpensesIf Lender has required inunediate payment in full, as described above, Lender may require Borrower to pay costs andexpenses including reasonable and customary attorneys' fees for enforcing thls Note to the extent not prohibited by applicablelaw. Such fees and costs shall bear interest from the date of disbursement at the same rate as the principal of thls Note.7. WAIVERSBorrower and any other person who has obligations under this Note waive the rights of presentment and notice ofdishonor. "Presentment" means the right to require Lender to demand payment of amounts due. "Notice of dishonor" means theright to reqUire Lender to give notice to other persons that amounts due have not been paid.S. GIVING OF NOTICESUnless applicable law requires a different method, any notice that must be given to Borrower under this Note will be givenby delivering it or by mailing it by first class mail to Bonuwer al the propetty address above or at a different address ifBorrower has given Lender a notice of Borrower's different address.Any notice that must be given 10 Lender under thi. Note will be given by first class mail to Lender at the address stated inParagraph 4(B) or at a different address if Borrower is given a notice of that different address.9. OBL!GATIONS OF PERSONS UNDER THIS NOTE

I f more than one person signs thls Note, each person is fully and personally obligated to keep all of the promises made inthis Note. including the promise to pay the full amount owed. Any person who is a guarantor. surety or endorser of this Note isalso obligated to do these things. Any person who takes over these obligations, including the obligations of a guaranI or, suretyor endorser of this Note, is also obligated to keep all of the promises made in this Note. Lender may enforce its rights under thisNOle against each person individually or against all signatories together. Anyone person signing this NOle may be required topay all of the amounts owed under this Note.

BY SIGNING BELOW. Borrower accepts and agrees to the lerms and covenants contained in this Note.lC1;;? .= - (Seal) 114"9 , 'tr "'==>wIsAcA MIMS -Borrower LYDIA MIMs (Seal)~ B o r r o w e r ~ o J L w ~ - - , - 8 ~ e i f - = - - - _ (Seal)~ N N I E BELLE -Borrower_ _ _ __ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ (Seal)

-Borrower

VICE PRESIDENT

_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __ _ _ _____ (SeaI)-BOITOWeT

_ _ _ _ _ _ _ _ _ . . . , ,"" '- ;;; ; ;