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Home My WebLink About0985 . ' BENEFICiAI~ CREDIT UNE ACCOUNT AGREEMENT Fa r;~es to Agreement-in this Agreement the words, rou, your, and yours mean the Barrower and the words w~, our, and us mean the Lender named below. YiEtCOYE TO BENEFICIAI: This is an Open End Credit Account. You will be able to obtam cash advances, up ta the amount of the Credit Une shown below, by request~ng an Inibal Cash Ad vance when the Account opens and by cashing ihe checks tAat we qrve to You. The amount of credit availab{e to you at any pbmtin time is the difference between the Cred~t L~ne and th~ Unpaid Balance (Principal). As you make paYments and reduce the Unpaid Balance the amount oi credit aradable to you ~s mcreased by the amount that the Unpa~d Balance is reduced. The terms and condd~ons of this Account are outlined below and on the other s~de oi Mis Agreement. ' , . L~NDER: . - ~F NEF t C 1 f1l. !N'~RTCIIG~ !`~1 +~F Fl.!'R ! nA . - ?0'~7 S ~FTfERAI ~ . - FT PI~R.^,E f1. 'S34'~A = - , T~l ulK. ;t?'S 4~1-~!~00 ~ : . ` r • ~ 7 Account No. Type SaquMt~sl Number - . ~ ~ Wme i Ma~fin` Addtess of 8orrowe~ . , c . : Residence Address • iy ~ i E- ~f not the same : ic, : Date of G Indial Estimated Ins. Costs and Premwms. ~ wY ' ~ ' AQrtt'Mnt Lfn! Advsnce• Mo. Pymt~~ _ i : S s Ufe Disabi6ty PropeRy ~ , ~ ' 1. esl . . ~ Ba>~s PropeRyFees ~ * s s ~ ~ FINAMCE CHAR6E wi~~ be c~~cu~ated using the ~ai~y Perioeic Rate of _,~.~g,~~6 (~4,~96 ANNUAL PERCENTA6E RATE). ~r~~tional FINANCE CHARGE, shown below as loan Or:gination fee, is calculated based on a oercentage of the Credit Line and will be paid from the Initial Advance. This amount fs ro; ~~c~u~ed in the ca~cu~ation of the AlINUAL PERCENTAGE RATE. We have paid, frcm the Imt+al Advance, Item 1 shown above and the amounts shown below as follows: SCHEDULE A 2. Annual fee . . . . . . . . . . . . . . . . . = 1 S . 00 REAL PROPERTY FEES 3. Loan Documentation Fee ~?n (A) Recordmg Fees . . . . . . . . . . . . S ~ 4. Loan OngmaUon Fee . . . . ; _~pQ.r04 (e) Title Search Fees . . . . . . . . . . . . . S _1.0.~.~QIl 5. To: 1~ ~ • S tC) Title Insurance Premium S 6. To: ~F~~~95~ s 2162.0 APDraisal Fees . . . . . . . . . . . . . . . S 7. Ta: ~?V~STDE BA~It S 2It0 3.16 ~E) Documentary Stamp Tax. S~1-.2~ S. To: GOOD YE'~1?R S 2G0.00 (F) Intangible Tax j~2Q.QQ 9. To: S i r (G) Mortgage Broker fee . . . . . . . . . . t 10. To: S _ ' (H) Other S~ ~ = ll.To: S E TOTAL fEES Isee e~x I above) S~.2~ 12. Check Del~vered to You S 24~~-~ ~ : or d~sbursement dems 1 to 12. s "Es:~mated amount of FI~af1C@ Ch2fgE and principal paymeat tor a bd6ng cycle based on the In~Ual Advance using a 3O day month. ~ ¢*'~RmortrzaUon basis used to calculate the esUmated FIt18tIC6 ~hBfgC and principal payment for a billing cycle. ~AiANCE SUBJECT TO fINANCE CHARGE: We f+gure the Fi08(ICe Chetge on your Account by applying the Daily Penod~c Rate to the "Average Da~ly Balance" of your Account, ~d~ng current transactions. To get the "Average Daily Balance" we take the beginning Unpaid Balance of your Account each day, add any new cash advances and other debits, and _-~~~zct any payments or credits and unpaid F111211Ce ChefgC. This grves the daily Unpaid Balance. Then, we add up all the daily Unpaid 8a~ances ior the b~lling cycle and dir•ide : t~iai by the number of days in the biliing cycle. This gives us the "Average Daily Balance". ~ i NANCE CHARGE: Tne F1~8tIC@ ~hafg@ wdl be calculated by multiplymg the Daily Perio~ic Rate by the number of days m the bii~ing cycle and then by mult~plpng that amaunt e.puerage Dady Balance for that b~IGng cycle. The Daily Penodi~ Rate in effect when the Account opens ~s shown above.lhe FIt1811C@ Chafge begins to accrue, on any Initial Advance, on the business day fo!low~ng the end oi your rescission penod and, on subsequent cash advances, on the date the cash advance is charged to the Account. f I f12 t1Ce Ch3fge rate is subject to change after the Account opens under Paragraph ll and ii this is a Vanable Rate Account, under the Vanable Rate Adjustment provis~ons below. 4.;# YARI4BLE RATE ACCOUNT: {f this box ~s checked this is a Vanable Rate Account and the F1118tICe Ch3~g@ rate is sub~ect to charge as descnbed in the following Paragraph. t 3J USTMENT OF FINANCE CHARGE RATE 011 VARIABLE RATE ACCOUNTS: The FI(18I1Ce Ch3tge rate on a Vanable Rate Account when it first opens wili be the Raference Rate a --~a Rate) charged by the Bank of America plus 52.~-percentage points, rounded up to the nearest ane-quarter percent. After the Account ~s ~pened the F1~811C@ ChBfge ~ n:~; be renewed on January 1, Aprd 1, July t and October 1 of each year the Account ~s open and ad~usted (~f the Bank oi Amenca Reference rate has changed} to the Reference ~ _narged by ihe Bank ot Amenca 3O days pnor to the Ad~ustment Date plus 6s~ percentage points, rounded up to the nearest une-quarter percent. At no time wi8 the ~ i nanCe Cherge rate be allowed to fau below the Da~ly Penodic Rate of .03835696 (1496 At1~u21 PetCentage Rate) or to increase above, state iaw perm~tt~ng, the Dady _d c Rate ot .05753496 ~21% Annual PerCentage Rate). This means that your F~nanCe Charge rate will not change any more frequentiy than e~rery 3 months. Any 6e m the FIt18~CE Ch8fg6 rate wdl be applicaDle to the entire Balance Subject to Finance Charge for the bdhng cycle covered by your (~rst Statement of Account prepared on or ; an Ad ustment Date and wili remain m effect unUl the next ad~ustment takes p~ace. Whenever the FII18t1C@ Che~gC rate is ad~usted the Minimum Payment w+ll be recalculated, ;:f tne ~I(18ItCe Chefg6 rate shoutd insrease, the Minimum Payment w~ll be increased to reflect the higher ~II18QC@ Ch2fge rate. The new Minimum Payment wifl be shown on -`~st Statement of Account prepared on or after an Adjustment Date. - ; E ~URITY: io secure this loan, you g~ve us a secunty ~nterest th~_Re~l~cape~lqdescnbed m?he Mortgage you are givmg us in connection w~th this fo:sr. The secunty interESt will be r?y for the total oi all cash advances up to the Credit line~l~ ~a~vetheiioAlestead ExempUon applicable to the property covered by the Mortgage to the extent permitted by law. j`~~ e~ipu d6lwor~e r i t of a copy of both sides of this Agreement pnor to any money bemg advanced by Us. - p?e~ by Lender. ~ ~ ~ ~ A.! N t ~ 7_ Witness ~ j . No. I _ Witn YIOLA ' ^~O 2 Manager . $~E OTHERSIDEFORADOItIdNAITERMSANDCONDITIONS. (1R ~p~ ~ . ~ e : ~ ~O~K P~GE ~7•J RE~fzORDINF t~;~PY=-TO BE FILED ~lJfTH REAL ES1 A~ i - -