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Home My WebLink About0966 ~ . _ _ _ _ _ . . . tB) R~q~lro~ F~11 Paywe~t A~ow~t • ' ~ . I wiA pay tbe FuU Payaxut Amount ss my monthly paymrnt beginnioa with my 61s~ montbly p~ya~a~t uakn I , cboose to ti~ait the ~mount of my awatbly p~yaia~t ~s permitted by S4ction 6(A) below. S. GRADUATED MONTHLY PAYMSM'S 1-60 = My tirst 12 monthlY P~Yments ~viU acb be in the smount of U.S. 5 457. 43............................. On acb : of the fint tour anniversuia o~ the dste my 6nt monthly paymem is due. I wili besin payin6 a oew nwnthly paymrnt which wnq be equal to the smount 1 have baa psyin~ multiplied by the number 1.075.1 wil! pay the ne~v anwunt ot my monthly payment uptil it cbanaa in scoordsna with thia Sation S ot Sections 6 or 9 bebw. 6. BORROWER'S RIGHT '!~O LIM1T AMOUNT OF REMADVING MONTHLY PAYMENTS (A) C.aiealado. d Gnddat~ Mo~tuly Pay.eat. A~oMnt ~ I may choo:e W limit thc smount of my new? ma~thly payma~t foUowing an I~terat C'~ange Date it my new? interat nte would cauae the monthly payraeat 1 have bea~ payirig to incrase by morc than sevrn and onahalf penxnt (7.596). It I c6oose to Ilmit the aaauat ot ~ a~osthly ~ywa~t, I mu~t ~t~e tbe Note Holda aodoe t~at I a~u dot~ ~o at la~st iS dp?s ~ betore a~y 8rst aew mosd~? py~eat is d~e. When I do w. on the Rrst moethly payment date atter the Interat Chanae Due I will begin payina a new montWy payment which will be equal to the smount 1 have been payina each moath tor the preoeding twelve montbs multiplied by the number 1.075. Thereafter. on ach of the 6rat tour anniver~aria of tbe new monthiy psymeat date. my monthly payment ~riU again increase by an amount equa! to the unount I have ban paying each month for the precxding twelve months multiplied by the number 1.075. ~ E~ea U I ha~e chosen to Wsit my moat6lY Paya~at, Sada~ 6(B), 6(G9 and 7 below aiay reqtilre se to py? s dlBersnt ~mono~ B) Redaced Monchly Paymeat Ancount . My graduated monthly p~yment calculated under Section 6(A) above could be greater than the unount of a monthly paymcnt which then would be aufficient to rtpay my unp~id principal bal~nce in full an the maturity date at my curna~t interest nte in subsW?tiaAy equal payma~ta. If so. on the date my psying a graduated monthly paymeat arouW cause me to pay more than the lowa unount, I wrill instead then begin paying the lower amount u my monthly paymeat until the neact Intaat Change Date. ~ (C~ Incrpued Moat6ly Payaent Aawuat My paying a 6nduatad monthly payment calculatod under Section 6(A) above could cause my unpaid princip~l balance to exoad the limit sated in Section 8(8) below. If so. on the date that my paying a monthly paymmt would cause me to exoeed that limit. I will inste~sd begin paying a new monthly payment until the neat Interat Change Date. The new monthly payment wiq be in an amount which would be sufficient to «pay my then unpaid principal balanoe in tuU on the maturity date at my current intereat mto in substantially equal payments. _ 7. FINAL MON'I'I~~LY PAYT~ENTS - . Beginning with the first monthly psyment aRet the last Interest Change Date, I wiq pay the Fu11 Payment Amonnt : F as my monthlY P~y~~- 8. INCREASES IN THE PRINCIPAL AMOUNT TA BE PAID (A) Addidan to My Uapaid Princip~i Balaocc . - - If I choose to pay a gradwtod monthly payment calculated underSoction 6(A) above, my monthly payment oould be less tl~an the amonnt af the interest portion of a monthly payment which then wouW be su~cient to repay my unpaid ; principal balancx in fuU oa the maturity date at my curnnt interest rate in substantially oqual payments. If so. each month ~hat the amount of my monthly paymeat is less than the interat portion, the Note Holder will subtnct the amount of my monthly payment from the amount of tbe interest portion and will sdd the di6erenoe to my unpaid principal b~u~oe. The Note HoWer wiU also add intaest on the amount of this differaia to my unpaid principal b~lanoe each month. The interat nte on tbe interest added to principal will be the rate required by Sections 2 or 4(A) above. - ~ ~ B) I3mit oa My Unpaid Princtpsl Balsn~e ~ ~ My unpaid principal balance can never exceod a maximum amo~nt equal to one hundred twrntyfive percent (1259'0) ` of the principal amount I ori~nally borrowod. ~ 9. NOTICE OF CHANGES T6e Note Holder will msil or deliver to me a notioe of any changes in the amount of my moathly payma~t bdon tbe ~ effoctive date d any change. Tbe notice will include infom~ation required by law to be giva~ me and also the title and ~ telepbone number of a ptrson who wili answer any question I msy have regarding the notice. ~ 10. BORROWER'S RIGHT TO PREPAY I have the right to make psyments of principal at any time bd'or~e they are due. A payment of principal only is knowu as a"prepayment " Wben I make a pnpayment, I will tell the Note Holder in writing that I am doing so. I may make a fuU prrpayment or a partial prepayment without paying any penalty. The Note Holder wiU use aU of ' my prepayments to reduoe the amount of principal that 1 owe under this Note. If I mske a partial prepayment, tMre wiU bt ~ no delays in the doe data of wy monthlY payments unlas the Note Holda agrea in writing to those dolays. My putial ~ prepaymrnt will reducx the amount of my monthly payments after the 6rst C'hange Date foUowing my partial prep~yma~t. ~ However. any roduction due to my p~rtisl prepayment may be offset by sn interest nte increase. p YV~ ~V~ - - If a law, which applies to this loan and which sets ma~cimum loan cbarga, is 5nally interpretod ao thst the interast or ~ other loan charges collxtod or to be collocted in connection with thu losn exceod the permittod limits, tha~: (i) any sucb ~ loan charge shsll be redwxd by the unount necessary W reduce tbe chuge W the permitted limit; and (ii) aay swns ~ already collected trom me which exceedod Pennitted limits will be refunded to me. 'The Note Holder may cboose to make ' this rdund by roducing tbe principal I owe under this Note or by making a direct payment to me. If a rd'ond reduces principal. the reduction wiU be treated aa s Pa*tial PrepaYment• ~ 12. BORROWEItS FAII.URE T~ PAY AS REQUIRED ' ~ (A) Lte C6arQe tor O~erdne Pq?meats If the Note Holder has not raxivod the fiill amount of any of my moathly payments by the end of .......k',1fx~,...(15) calendar days after the date it is due, I will pay s late charge to tbe Note Holder. 'IUe amount E of the charge will be ....£iZte.% of my overdue payment of principal and interest. I will pay this lste charge promptly but ~ only oncx on any late payment. - B00 PAGE ~ ~