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Home My WebLink About0945 BENEFICIAIe CREDiT LINE ACCOUNT AGREEMENT Parhes to Agreement-in this Agreement the words, your, and yqut~ mean.iht BO~r4~ #nd the ~rords w~, e6f, and us mean t!?e Lender named below. WELCOYE TO BENEFICIAI: This is an Open End Credit Account. You vnfl 6e~able to oDtain ash ~dvances, up to the amount of the Cred~t Lme shown De{ow, by requesting an Initial Cash AJ va nce when the Attount opens and by cashing the checks that we give to you. The amnur~ ot credit availaWe to you at any point in time is the difference between the Cred~t Lme and the Unpaid Balance (Principal). As you make p~yments and reduce the Unpa id Balance the amount of credit avadable to you is increased by the amouM that the Unpa~d Balance ~s re~~ced. The terms and conditions ot tMs Account are outlined bebw and on the other side of this Agreement LENDER: ~r , ; , . ~ . _ 1:11 ' , L\ i( ~ 1`~ II1 : • ~ ~ +~Et~IE't~ 1 C t AL M!!`~RRTGl~C,E ~ f L "~R 1 nA ' ' _ ` i 'i .'t1~ ~ 1. ~ ?~1'~7 S FEt1ERAl. HMr • , ~ 1 ~1 t ; fT PIETtCE fL 3~450 - _ ~ + ?FL M~. 30'S 4fi t -6(+40 + Account No. Type Sepuential Number r ~ TA27t~ ~ Name ~ Msilin~ Address or Barower ~ 1 { Residence Address # ~ ~ rf ~ot the same ~ Date d Gedit !nfial Estimated Ins. Costs snd ProrrHUms. ~ wy ~ llqreen+ent Line Advs~tts Mo. Pymt.s• ~ife Uisabil~ry RopertY + S Y S 2 1 / ~ i. R~~ ' easss Propertyiees 1 ?ss s ~ i ~ i FINRMCE CHARGE wi~~ be ca~cu~~ted using the Dai~y Periodic Rate ot .44~83596 ( tS_~~ % ANNUAL PERCENTA6E RATE~. , , %dd,tional FlNANCE CHARGE, shown Debw as Loan OriginaUon Fee, is calculated based on a percentage of the Credit Lme and will be paid from the Initial Advance. This amount is ~~:t ~nc~uded in the ca~cu~a~on ot the ANNUAI PERCENTAGE RATE. i We have paid, from the Imtial Advance, Item 1 shown above and the amounts shown below as follows: I SCHEDULE A 2. Annual fee . . . . . . . . . . . . . . . . . = 15 . 00 REAL PROPERTY f EES 3. Loan Documentation Fee ; 125• 00 (A) Recording Fees . . . . . . . . . . . . . . = 22 • 4. Loan Onginat~on fee . . . . . . . . . . ~ 100 . 00 ~ (B~ litle Search Fees . . . . . . . . . . . S 5. To: ~~I~RAL FI~IANCE ; 1 42. (C) T~tle Insurance Premium....... ~ 10 .00 6. To: J~Fr~~~~~ S~ l~) APPraisal Fees . S l~r~ 7. To: ~ f E) Oocumentary Stamp 1ax . . . . _ . S ~ • r 8. To: ~s " ~II_ ~ ~ (F) Intangible Tax . . . . j 10.00 9. To: ~S~ S • , f (G) Mortgage Broker fee _ . . . . . . . . . S 10. To: S i ~N) Other S - 11.To: S Sv!c'r TOTAL FEES ~See ao. 1 aao~el S 2• 12. Check Del~vered to You S 32• 39 ~ ~ ~~~m of disbursement items 1 to 12. ':FSt~mated amount of FIItaI1Ce ~hafgB and priacipal payment for a billing cycle based on the Imtial Advance usmg a 30 day month. ~ k' •Amort~zation basis used to calcuiate the estimated FIt12tICC ~h8fge and prinupal payment for a bil6ng cycle. BbIANCE SUBJECT TO FINANCE CHARGE: We f~gure the FIDefICe ChB~ge on your Account by applymg the Daity Penodic Rate to the "Average Daily Balance" of your Account, ud!ng current transac6ons. To get the "Average Daily Balance° ~e take the beg~nning Unpaid Balance of your Account each day, add any new cash advances and other deb~ts, and ~ ~tract any payments or credits and unpaid FII18nCe Ch8tg8. This gives the dady Unpa~d Balance. Then, we add up all the daily Unpaid Baiances for the biUing cycle and dmde ~ total by t~e ~umber of days in the billing cycle. This gives us the "Average Daily Balance". ~ ; I NANCE CHARGE: The FIDeOC@ Che~ge wdl be calculated by mul6plying the Daily Periodic Rate by the number of days m the biNing cycie and then by multiplying that a:nount th? Average Da~ly Balance for that billmg cycle. The Dady Penodic Rate in effect when the Account opens is shown above. The F1~8(iCe Chefge begins to accrue, on any Init~al ~ _.:~n tidvance, on the business day fol{awing the end of your rescission period and, on subsequent cash advances, on lhe date the cash advance is charged to the Ac;.ount. e F i ~i811CC Chafg@ rate is subject to change after the Account opens under Paragraph 17 and if this is a Vanable Rate Account, under the Yanable Rate Ad~ustment provisbns below. VARIABLE RATE ACCOUiii: If this box ~s checked th~s is a Vanable Rate Account and the f 1~811CC ~hafg@ rate is sub~ect to change as descnbed ~n the following Paragraph. ~DlUSTYENi OF FINANCE CHAR6E RATE ON VARIABLE fUTE ACCOUNIS: The F1~211Ce ChBfge rate on a Yariable Rate Account when it first opens will be the Reference Rate _ ~ ~ me Rate) charged by the Bank of Amenca plus 6~- percentage points, rounded up to the nearest one-quarter percent. After tne accounc ~s o~e~ed tne Finance Charge -;;e h;ll be renewed on January 1, ppnl 1, July 1 and October 1 of each year the Account ~s upen and ad~usted ~~f the Bank of Amenca Reference rate has changed) to the Reference ~ _~'e ~~zrged by the Bank of Amenca 3O days pnor to the Adjustment Date p!us 6~- percentage points, rounded ua to the nearest one-quarter percent. At no time wiii the FinanGe Charge rate De a~lowed to fali below the Dai1y Periodic Rate of .038356°,6 !1496 Atlttuel Pe~Ce~tege Rate) or to mcrease above. state law permit~ing, the Daily od~c Rate of .05753496 (2196 Antlual Pe~Centage Rete). This means that your FinaltCC Che~ge rate wi~l not change any mcre trequently than every 3 months. Any Y ~ nKe ~n the F111a11CE ~h8fg@ rate will be apolicabte to the entire 8alance Subject to Finance Charge for the biUing cycle covered by your 6rst Statement oi Account prepared on or :`:Yr an Ad~ustment Date and wdl remam in eftect unti! the nextad~ustment iakes place. Whenever the FIt18t1CE Che~gB rate is adjusted the Mmimum Payment wil{ be recalculated, ~f the FinanCe ChargC rate should increase, the Minimum Payment will be mcreased to reflect the higher F1~8tICe Chafg@ rate. The new Mm~mum Payment will be shown on ~-e t~rst Statement of Account prepared n or fter an Ad~ustment Date. Sf CURITY: To secure th~s loan, you gweu~sasEd.~rit~ i~ierest in the Real Property descnbed in the Mortgage you are g~vmg us in connection with this loan. The securdy interest will be ~ ~ u r,ty for the total ot all cash advances up to the Cred~t L~ne. You waive the Homestead Exempt~on applicable to the property covered by the Mortgage to the exteni permitted by law. f_ Q~~l!~~ ~~(o knowledge receipt of a copy of both sides of this Agreement pnor to any money being ad•ranced by Us. % ?pted by Lender. Wiiness ~ ~ ~5~~ _ ^ D , t • S~gna~ ol ~r r Manage WI~ , S+gnature ol Barowtr No. 2 ~ SEEOTHERSIDEFORI~ITI~NALTERMSA110GORDITIONS. a~~~7~ Qa(~{ ~ RECORDi~~~:_~ ~;OPY TO BE Fh ED iNITH ~FaL E~~taT:= ~ t7f~T ;ACE _ . . __A_ • - ~ - - - -