You have to do 1. If this is a significant impact, or you otherwise want to break new ground, back yourself up with 2 and let us know how it goes.
You have option 3 there. I assume you have one note? If one of the four didn't pay, what would you do? You'd tell the other 3 to pony up with the full payment. That is one reason they get protection. It is a double-edged sword. If you have 4 notes, you may only have to adjust the one.
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AndyZ CRCM
My opinions are not necessarily my employers.
R+R-R=R+R
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell