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Document Preview Demand Note |
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Title: |
Demand Note |
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Entities: |
Bank One, NA; Freddie Mac; Headlands Mortgage Securities Inc |
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Date: |
2000 |
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Size: |
Preview shows 2KB of 9KB total |
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Price: |
$34 |
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ID: |
#1788538 |
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DEMAND NOTE
GreenPoint Home Equity Loan Trust 2000-2
September 26, 2000
ON DEMAND, for value received, GreenPoint Bank ("GreenPoint"), promises to
pay, in lawful money of the United States of America, to Bank One, National
Association, as trustee (the "Trustee"), under the Pooling Agreement and
Indenture, dated as of September 1, 2000 (the "Pooling Agreement"), among the
Trustee, GreenPoint Home Equity Loan Trust 2000-2, as Issuer, and the Federal
Home Loan Mortgage Corporation ("Freddie Mac"), on the dates and in the amounts
requested by the Trustee in accordance with the terms of the Pooling Agreement.
GreenPoint has issued this Demand Note to the Trustee. Demand for payment
hereunder shall be made by the Trustee pursuant to a Demand Request
substantially in the form of Exhibit A hereto. This Demand Note will terminate
and cease to be of further force or effect immediately following the close of
business on September 16, 2002 or such earlier date as of which no further
payments hereunder may be demanded by the Trustee pursuant to the Pooling
Agreement.
Interest shall accrue on the amount due under this Demand Note from the
date of demand until the date payment is made (payable on demand and computed on
the basis of a 360-day year for the actual number of days elapsed) at the rate
for overnight funds as published in N.Y. Federal Reserve Statistical Release
H.15(519).
If the indebtedness represented by this Demand Note, or any part thereof,
is collected at law or in equity or in bankruptcy, receivership or other court
proceedings, or this Demand Note is placed in the hands of attorneys for
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