HomeMy WebLinkAbout0968 . REVOLVING LOAN AGREEMENT
;~~~:RIPTION OF ACCOUNT-When you s~gn this Revolving loan Agreement ("AgreemenC'~ and you prom~se to repay lhe Unpaid Balance plus FIIIaI1C@ CI18fQC and msurance
~t any, we agree to set up a Revolvmg loan Account ("Account") br you, and we witl make cash advances to you up to the Cred~t Lir,e shown below. You ;r~U rece~ve an Initul Cash
~;.ar~ce when the Account is opened, and you will be sent blank checks tovenng the diflerence between the Initial i,ash Advance and the Credit line. We wdl malceluture tash ~i
a nces as long as the Account remains open and in good st2ndmg, and we wdl cantinue to send you blank checks to ailow you to obtain tye difterence between your Unpa~d Balance
~ vo~~r Credit Lme. These checks are not to be cashed for an amount over the unused portion ~f your Credit Line at the Gme a check is cashed.
! ENDER:
~'"'R;~F t~ I A!. s.~ ~.~r ~Ar~ FL 's' I`~A I
'`!F7 S F~!'~=.ftA1_ 't"~y ~~~iiiiiiicnecicedoeiow- i
c-~ p ~~q• ~ c~ ~~c~ 5~ Real Property Security Inteiest
y,~~ z~F 4~1_~~,n~, This Agreement is secured by a secunry i
interest m real property which is described m I
~ a Mortgage and ~
$equent~al Number ~ ~s located at your Mailmg Address.
A=count No. TYPe
~~~?~7F5~ ?n which is your pnncipa~ residence
Name 6 Ma:ImQ Addcess ot Borrower O ls not at your Maifing Address but is
~ •.~+~~"f'T' 'f'!.!E?~.`~c T Iceated at
~ , • Residence Address Street Address
~ ~ ,.~i4.~'.' E-- rt not the same
Date of Credd In~bat Indial Ins Costs arxl P?emwms. ~~Y C~ty ~nt1'
Agreement Line Advance# ~ PYmt Vfe p~.operty and ~ ~S ~ ~S n01 yoUr p(~nCtp21
i/R4 s?^'T00 S 7`~ 1 S 1``Y ~ ~!3 .00?S0~•7 '~d; ~ 7 residence.
v.o~enyFee~ *Sum of disbursement items 1 to 13.
S ~
:-it / ?ti ~j,a.,+~
i ' FiNANGE CHAR6E w~ll be calculated usmg!he Da~ly Penod~c Rate ot •~4f•57~°v 7~ ~o AkNUAI PERCENTAGE RATE).
~
; We have paid. (rom the ~n~bal Advance. Item 1 shown a~ove and the amounts shown below as foii~ws:
i _
z SCHEDl1LE A 2. Plan Participatian Fee . . . _ . . . . . Y . ~ -
s REAL PROPERTY FEES 3. To: ~ S y-.
f ~ - - _ - ~
( (A? Recording Fees . . . . . . . . . . . . . . S 4. Tr~: = r S
~ (B) Ltle Search Fees . . - - - . . . . . . . s 5. To:
( " - ~ ~
i (C) T~tle Insurance Prem~um S 6. To: S
~ I(~) APPraisal Fees ' 7. To: S- .
~ ~E) Documentary Stamp Taz S 8. To: S
~ ~ (F? Iniang~b?e Tax . . . . . S ~ • ~ ' 9. To: S
~ (G? loan Documentat~or. Fee S 10. To: S
r (H) Mortgage Broker Fee S I1. To: S j
c ~
~ ~ I ) Othef ~ ~ . . . S 12. T0: _ s . . - ~ 1
~ ~-TOTAL fEES (See Bo~ 1 aDcrel S ' ' ' 13. Check Delivered to You S ~ - ~ • ~
:
~
F
t
~ DEFIN!TIONS OF TERMS USED IN THIS AGREEMENT:
~ ~ es to Rgreement"-in this Agre2ment the words, you, your. and yaurs mean ihe Borrower and the words we, our, and us mean the Lender named aDove
r ~ a d Balance"-the unpaid pnncipal balance after charging cash advances and cred~l+ng ~arments, at the end ot any given day.
s • a~ Advance"-the amount of money you receive when the Accoun! is opened.
. rum Payment Balance"-the Ur,paid Balance. after any cash aduance is charged, used to determine the Scheduled Monthiy Payment See Table o' RepresentaUve Mm~mum
Payment Balances pnnted on a separate sheet.
~~ement oi Account"-a biEling statement prepared by us and mailed to you each month aFter the Statenent Closing Date.
~g Cycle"-the number of days covered Gy a Statemeni ef Account (usually around 30~.
- .-•~ge Dady Balance"-deterrr~ned by adding togetherlhe Unpaid Ba~ance for each day in the Bili~ng Cycle and then by dmd~ngthe sum of the Unpa~d Balances by the number of
~ ~ays m the Bill~ng Cyde (usually araund 30) ~
F inanee Charee'~-equal to interest computed on unpa~d prmcipa! balances by applying the Da+Iy Per~odic Rate (mulhplied by the number of days m the b~lt~ng cycle) to the
=rerage Da~ly Balar.ce of the Account The ~nterest b2g~ns to accrue on the day'oliow~ng the ihird b~s;ness day after the Date of Agreement There is no Ume per~d hhen you may ;
~ay the Unpaid Balance in full and avo,d the assessment ~f any Finance Charge. ,
-~iu!ed Monthiy PaymenY'-equal to the approz~mate amo~rt necessary to pay in full the current Mimmum Payment Balance plus the Flf12flCe ChafgC over the namber of
?~onths shu~n abeve as the Term startmg from the date tne last check is casned ?he Scheduled Monlhly Payment ~ncludes pnnc~pal and Fif13f1Ce Chafg@ cumbined and
= assumes that the Schedu!ed Monthlp Pay ment w~tl be pa~d each month on the Due Day shoNn above. If th~ Scheduled Montnly Payment is not paid etiery month ther it could take
~ !~~r~er to pay the accour.t ~n fu!i
x ,~hen a tash advance u made; the M~n~mum Payment Baiance wuld be changed and a new Scheduled Month~y Payme~t wou!d be caicuiaied ~f neces,ary The Mi~~mum Paymert
Balarce and the Scheduled Morthly Fayment w~il not be ad~usted ~n any otner circumstance.
• ~m PaymFrt-shown cn monthly Statement of Accourt and is equa! to ihe sum of ~I) Schedu!ed M~nthiy Payment. (2) monthiy cost ot Lte Insurance. rt any, (3~ mo~thly cost of
Froperty Insurance, iE ary, and (4) any Amount Past Due shown on the Statement.
SEE OTH:R SIDE FOR COMTINUATION Of DEFIMI~~ION OF TERMS AND CONDITI~NS. -~'~~E
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