Ronald B. and Annette C. Talmage - Page 12




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               that the Borrower seeks to obtain permanent mortgage                   
               secured financing from a local US bank or lending                      
               institution to facilitate a portion or all of the costs                
               of the intended improvements to The Property.                          
               Thus as of the time of this signing, in order to                       
               cooperate with the Borrower for this potential source                  
               of borrowing, the requirement of a recorded mortgage in                
               favor of the Lender, shall not be immediately                          
               necessary.                                                             
               This does not excuse the Borrower from any repayment                   
               liability however, and in the event of the obtaining of                
               institutional funding, the Borrower agrees to repay of                 
               portion or all of the funds loaned by the Lender.  In                  
               either case, Lender shall retain a First Priority                      
               position for repayment of monies obtained.                             
               (8) The Lender reserves the right to require a First                   
               Mortgage to be recorded in his favor as he deems                       
               necessary.  Further, in the event of failure to repay                  
               the funds borrowed, Borrower agrees to deed The                        
               Property over to the Lender for use and or disposal as                 
               he deems necessary.                                                    
               (9) The Term of this loan shall be Twenty-years from                   
               the date of this agreement, wherein on or before the                   
               25th of January 2019, the total sum loaned, plus                       
               interest accrued to date on any outstanding balance,                   
               shall be due and payable in full.  In the event the                    
               full amount is not paid by this date, the Lender shall                 
               exercise his right for foreclosure on The Property.                    
               (10) This loan agreement shall be governed under the                   
               Laws of the State of Oregon, USA, wherein The Property                 
               is located, and Borrower intends to establish residency                
               in due course on The Property.                                         
                                                                                     
          The loan agreement was signed by petitioner and by Mr. Seki on              
          behalf of NCPL.6  The loan agreement did not have a signature line          
          for Kumiko Talmage and was not signed by her.  At the time this             
          document was signed, Kumiko Talmage was unaware of its existence            


               6 Mr. Seki has been represented by petitioner to be the                
          owner of NCPL.  Kumiko Talmage testified that Mr. Seki worked for           
          petitioner.  Mr. Seki could not read or write English.                      





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