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' Section S~8) prior b~ my first ba ar~niv~ersaxy datss, Z rri~l aake the p~y~-
' aients providecl ~ac in St11~. I! I d~ not cl~oo~se eithet th~ pay~m~ent ad~ua~..
• ment provided ~or i~ 5~1?) or -the Fu~l Pay~nt ~t priar tro the third
and ead~ subsequent ~ru~iveYSAry date unt3l the tMenty-ninth amivarsacy
datre, I Mill ~nek~e pa4Yments o~ tt~e LKt21 Peyment 14motmt.
. .
6. IN MY ~ID PRIAICIPAL HAI~IAIC$' ~
tA) ~itiona b~ !!y [1np~ia Principal~ Bal~u~e -
. . .
' Bach of my monthly p~y~aenta oould be less than the anrount c~ the interest
portion of a m~nthly payaient r~hich then viould be suffiMent bo repay my
unpaid principal balance ir? full an the eantutity datis at my airr~ent rate
~ of intereet in eubstantially equal p~rymectta. If eo, a~acM month that the
amount of my aonthly payment is less than ths intereat po~rtion, the Note
Bolder will aubtract the aa~w~t of ny monthly p~yment !'rcm the interest
portion and wi21 add the differenoe bo my t~i~l p~rincipatl bala~noe. The
Note eo2aer rill aleo ad8 interest on .the aaaunt ot this differen~e to
my unpaid~principal balance each month. Tl~e rate o! interest on the
interest added to Princtp~l.~rill be the rate requirea by Secrior~ 2 above. ~
~ (B) Reductiore in My Ur~aid Ptincigal Balarive .
~ My monthlY payment oouid be greater than the amount of a monthly payment ~
- vrhich then w~uld be sufficient to repay ny unpnid principal balanoe in
fu21, on the matucity date at my cvrrent rate o~ intereat in s~etantially
equal pay~enta. If so, the~Note 8ol8er wi11 subtYact the difference
from the unpaid balanae of my loan each t~nth until the next Interest
Change Date as if I had made a partial p~~+epay~ne+nt under Section 8 below.
(C) L~at a, ~ o~a ~i~i~ e~~oej Reguire~ I~Il Payment Aneucit
My unpaid p~incip~l 6alanoe can nev~r ex~ a m~cimuia a~rount equal bc~ a~e ~
hundred twenty~-five perce~t (125$~ of the principa~l aeount I originally
borrowed. if my payfng the anaunt of my monthly~ pay~aent calculated
under Section 5 above after any Intereat Change Date w~ould cause my
unpaic~ principal balanoe tro exceed that mauinwm anbunt at any time, I
will instead pay the Full Payment Anrxmt as my ma~thly pny~aent 'until the
next Paym~ent Cttiamqe uate.
'l. NO?rICB OLi QiA~~ - ~ '
The Note Holder ~rill mni2 or de2iver to me a rotiee og any changes in the i~l.i
Paynient Aniount and my monthly payment before the effective~ date of any change.
The t~otice will inelude infoxmatioo.required by la~w bo be given me m~d also the
title and telepl~one r~nber of a peYSOn who will ana~er any questio~s I may hav~e
regar~ing tbe rotiee. ~
8. BO~ADihSR' S RIGBT Z+D PI~AY
I have the riqht to make pay~aents of principal at any tfine before they are
due. A payment of prfncipal only is knain as u"p~p~ment". When I maloe a
prepa~yment, I`+i.ll tell the Note Holder in a letter . that I aia doirg so. .
I may maloe a full p~r~epaylaent ar a partial p~repayment Nith~out psying anY P~~ht• -
. Tfie Note Holder will use all of ny p~+epnymenta bo r~duoe the a~o~mt of ~i~ci~
that I owe under ~ this Note. I f I~aaloe a~aYtial prep~tyment, there wii2 be ra
delays in the due clates of ny nanthly p~ayments unleas the i~ot~e Holcier agrees, fn
`+riting t~o those delays. MY pBCt~~ ~@~[tt N~~. 1'+~tlQ U~ ~lalt Of. A!!?•-
nanthly payment only after the first Payment Chang~e Dnte iollawing my p~arti"al
prepayn~nt. 8o~rever, any reduction due bo ny partial P~pa~nent may be offset
by an interest rate incr~ease.
9. I~OAN ~AAGES - .
If a i~,, which applies to ~ni$ ioa~ ~a ~,ic~, ee~ ioa„ a,a~8, ~is
finelly interpreted so that the intereat or other loan charges a~allectea or
to be oollected in vannection with this loan exceed the permitted limites, -
then t1) any surh loan charge ahall be reduced by tl~e amount neceseaxy to
reduce the charge to the permitted limitf and (2) aryy su~ alnady v~llected
fran nie which exceeded permitted limits aill be refunded tro me. The Note
(FL) FLEX I~1Dt'B .
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