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Home My WebLink About0979 . ~n ~•a}rnoni O(7rxc~ Q~,~~ nn Ci,~ss C' intcnpiblc~ Personnl F'r~pn?ty, ' 'rur~.~,;,n~ 7o Cha~ter 71~ 134, Actn Of i n71. ~ Rf) .r,C~ POITRAS Acco~int. t1 _ 18b-p12~8~$__S<~~:~ vi:.6~FU t~N;. L~~~;~. r~.~ ~13, r~IV~.~NE ~QUITY AQREEM~NY Date • Oy ANB ~!lSC~~5UAE S7AYEMENT Account Nam~s ~be~~t._l.e~._~ Alice_Jgne I.ee ` ~ ' - - ~,J~iTr,t~~ GORRESPOtvGING ~nitial (thraugh pER10DIC Ynit~al. (throug~ aNNUAI 1-12-87) 6.9x FtATE THIS 1~12--87) 0. S750X FERCENTAGE MONTH Zndex: _ Q.~.~.~~ RATE Index: 9. 5 g~, 7he words "you" nd " o~r" a+~ each person who is ndmed on the SunLine Equity Aceount ('Account"1. 7he words "Benk" or "we' mea~~ ~'~n ~~nkl~re~sure Coask NBtioltal Associetion _ , tho bank i5suing the ACGount. It~ conside?aiion ofi th~ issuenCe to you o1 the Account issued by the Bank you hereby prpmise and agree to~ the benefit 01 tha Bank as follow&~ 1. Lnan Adve~~cas. You may obt~in one or morv loans or loan advances 1°Loan Advance ot Coan Adva~~cGs"i ~~v::~ chs Bank , from time to time, the aggregete unpaid princ~pa) batAnce of which shall not exceed your C?edit Lirle established by the 8ank, by cash+ng Account checks oi not less than 5300.00 whieh ACCOUnt checks will be issued to you by the Bank. Eech Account cNeck so ceshed by you will be retained by tfie Bank t0 substantiate the loan or ioans. 2. Cradit ~Ins. You u~tderstand th~t oach l~en AdvanCe l0 You pur5u~nt to thiS Agreement wiU be Cfiarged to y4uf A,ccount. The Bank will estabiish the amount of your Credit l-ina upon approvat ot your appl+cation, and your Cr~edit Lin~ as may? be changed from time to time as provided below, will be shouvn on your monthly statvment. Tho Bank shall have no obligetion t0 m~ke any Lo~n Acivence hergundet if making such lnan Advance would Tesult in your Account b2~anee exCeeding your Credit Llrle~ but if the Bank elects to n~ske eny Such Loan Advance, th~ arnount loaned shal) be Subject to 911 ot the terms of this Agroement. ThA Bank m8y i~Crease or ~decresse yaur Credit line at eny time withoirt prior notice to you. 3. Prom~es To Par. You promise to pay th9 Sank et its oftice the principal amount of el) tAan AdvAnCes plus intareat erid A11 other amounts and cha~ges as provided in this Agreeme~t. • 4. Intere6t ti~ta. Intetest on tFia principel emount of all Loan Advances (in the fo?'m of s Finance Chargel &hatl be et a"vsriab{9" i8ie 85 sei ioiih ~i'r~~::~. Tha n:aximu:n Monthly Periodic Rate and correspondin~ ANNUAL P~RC~N7AGE RATE shall not excesd the ; meximum rat~ a~~owed by law. 5. Imposition of FinsrtCe Charye. A Finance CNargA will be imposeci on LAan Advance transactions from the date the trensacfron is p45ted to your Account ~nti1(u11 peyment is reeeiveel by ths Bsnk and posted to you~ AcCQUnt. Thore is no time period within which to pay ta avoid a Finance Cf~arge. However, the more that you pay, and tfie sooner you psy, fhe tess ynur Flnance ChBrg~ wil! ba !f you pay the New Baia~ce appearing on your last staternent in ful1, the Finance Cheryos which dCCrued frOm the statement date uAtil lhe posting d8ts of your payment Will appear on your reext monthly Statemant. B. B~l~nce Upon Which A Flnanca Cherge Will Be Imposed. We tigure the Finance Chergp on y~ur Account by epplying the Monthiy Periodic Rete to the "average deily l~alanee' of your Account which includes ^.urrent transectiort6. To get the 'average delly balenCa'; we take tho beginning batance of your Aceount each day, add any new LDen Advances and subtract erry payments, Cr6dits, unpaid Finanoe Gharg~s and unpaid Other Cherges. This gives us the deily ba?8nce. Then ~ve add up all the deily b8~~ces for the billing cycle and divide the t0tal by the tOtal number oi days in the billing cyCle. This gives us the ' average deily balanc~: ~ 7. AmOUnt Of The~ Flnance Chmrgo: The Finance Chargu wi11 be the "averb~e daily belance" of Loen Advances mu~tipli~d by a"variebte" rete of intetest {which rate applies to afl range& ot balenCe&? as follows' A1~ NUA~ ~ Aversge Examp{e: Ii th~ ev9rage Prime Rate AERCENTA(3E Prime R2~te is 10%, the ANNUAL PERCENTAQE RATE RA?TE° +2% for that hN(ing peri4d is 12%. ' The minimum Monthly Periodic Rate shae not be less then .83396 lcorresponding ANAiUAI PERCENTAGE RATE is 109b). ("Prima Rate" sha~l mean the rate of interest snnouneecl by S~n Banks, Inc., trom time to time as the prime rate, whieh rate is only d benchmark. iS purely disCretionary and is not necessarily the best or lowesi rate Charged btxtowing custOmer& of any Sub6idisry benk of $un Banks, Ina? 1 he Monthly PeriodlC Rate and tfie corresponding ANNUAL PERCENTAGE RATE tor the BiliinS Cycle rr~iU chary~e without notice irqm time to time with the Bank's average prime Rate established by the Benk at month end, and wifl remain in effeCt until the n0xt month end- The MoAthty Periodic Rate and the correaponding ANNUAL P~RCENTAGE RATE for eaCh Bi119ng Cycle is determined by the average Prime Rate for the Calenda? month immediatety preceding the Cbsing Uate on each monthly statement. Ar~y inereese in the Monthly Periodic Rete iand the cbrrosponding ANNUAL PERCENTAGE RATE1 wiil increa5a the monthty peyment and witl increase the numbec of mo~thly payments. 8. Qt#~er Char~es. !n additio,~ to the Finance Char~e, the eank will alsa charge tiie following amounts 1"Othe? Charges"! to your A~count: A. A late paymerlt Charge not to exceed 5% of any ~ninimum peyment in default for a period in exCess of l0 d3y8; B. A non-5uifiCient credit charge of 820.00 ii you write an Account check in excess of y0ur availebfe c~edit and ttte Bank finds it ~~eCessary to retum the AcCOUnt cheCk; C. A returned Check charge ot $ 20.00 0~~ sny check, d~8fit, or order which you subm+t as payment on your Account and which is returned to us unpeid; ~ D. A stop payment cherge of $15.p0 for p)~cing e stqp peyment order on arl ACCOUnt cheCk; E. A documentation or reseat~ch cherpe for locating, eopyin~ snd furnishing, at your t~quest, Account checks, Statements or other evfdence of Loan Advances or credits to y0ur ~ccount when such Loert Adv~nces ere rgflected On a statemertt whiCh hes a closing d8te of mo~e than 80 deys pripr to the r9ceipt of such requests snd a Charge tor eaCh sddition8l Copy of a statement t~at has a 410&~ng date of more then 80 days prl~r to the receipt of the requOSt for such Addnional copy, In - $n arr?uunt not to exCe6d the fatlowioig~ 9 5.00 per eheclc copy, $ 2.d0 per statement copy, gnd $12.00 per hqx of reseBrCF~ tirne; F. A premium for credit lite insurance, if you have elected ta purehasa the optionsl credit lfie insurer~ee as descr'~bed (n the applicetion yuu si~ned in connection with this Accounc. Yhe monthty premium is 9.93 per every S1,Q00.00 in Out~tBnding P~sw B$I~ce tor single ~ability coverage and S1.60 pSr every $1,U00.00 in Outstanding New ~Ience for jo~t li~bility cover~g~ - i 9. SunWtis Equity Monpay~. The Rank ha9 eCquired a security interest (MQrtgage) ln the raal properly constituting your princips! - ~ residence as 59CUrity for your Account pu?suent to the SunLine Equity Mortgage exe~uted by you (the "Mortgeg~"?. The Mortgege will secure a~~ lnen AdvanCes to you as well as 811 other payment obl'igetions provided here~. Additianatly, the Mortga$e will secure - future advdnces as rinOre tutty set toRh in the MOrtgage. Collgtera! s~cur'~ng othsr toens from the 68nk a~so may secure your A+CCOUnt. : 10. Mortgege Related Charg$s and Appralsala. You are respnnsible and obligated to pay all cherg~s inc~rred In conr?ec:tion rv}ih ~ ihe prepe?'ation, exeCUt~on and reCOr~i;ng of tt~e Mortgsge SACU~i~~{~ this ACCOUnt, such as recording fees, inten~ible tpx, docsmientary st~mp tax, title search ises, appr~isal fees and.sirnilar cheryes. In add'rtion to the initia) eppraisst of fhe real property seCUring thls fiCCOUnt, ttve Bank may, at its pptiop, snd upon no less than 15 days' nOtice to you, requi~e new eppratsats of said real property, which sppraie~s sh~}! not accur t~tiore often than once every five yeer5, 8~d you egr68 to be tesponbibte for antl to pay any SuCh additionat eppraisel teos. All seid fees and taxes shell, if paid by us, G~nsiittrte g tati8n Advance to you. 11. Mlnlmum P~yments. Minintum payment8 hgrsunder 6ha~1 be due 9nd awing and 6hell be mede Wlt~~n 25 dByE Of the Closihql Dete on the monthly statement, eaCh su~h peyme~t to be an srnount not (ebs than 1.fi0% af your t~lew ~~~sttce or 8100•00, whichSVer is gre~te~, plua sny omouni pest due. If the New Balence i5 IeGs than 81p0.00, then the minimum mo~thly p~yment shatl equ~l the New Balance. Ea~h such peyme~tt will be credited to the follpwing in the ordar inciiceted' unpaid Finan~a Charges, unpsid Other Ch~r~es, and then to the remaining lJew 8alonce. • ~ - 4-0416-046 O N4t8E G~ O S~ O ~}1~E0 9 7 3 Zi i'~ ~ ~1