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Home My WebLink About1451 ~ ~ ~ . Sunline Equity Mortgage. Tha Bank has acyuued a secunty ~nterest (MoRgaga) in the real proF,erty constduUng your princ~pal residence as secunry for ~ A. ,-,~.,nt ~:,~i~ii:~ul 1.~ 11~c: 5~!r!l~r~e E~aurty Mony<+ye eKecutec] Uy you (tl~8 `l,Aartgage'). The t~lonyage w~!1 secwe al1 Loan AUvanc~s to you as weU as au otner ; , a e,t>i~y.,~w~ u piuv~Jed herem Ado~iionally, tlie Mortyage wdl secure future advances as more lully set torth in the Mortgage. Coliaterai socunng other bans ! 1 , u:~ G.,nA ~_bu rnay srcura your Account. You understarxl that il lhe real properiy secured by the SunL~ne Eq~Ry Morigage ceases to be yout principal ~ ..:.n y:,ur ~+~ht to rec~cvd futuru Loan Advancas s?wu ceass. You understarxi that you havo a matenal obllgatwn not to request addit~or.al Loan Advances ~ :,u..n cu~uu„tance, A bicach ol th~s oW~yatwn shall const+tute a defaull under which 1he Bank may terminate your Account and demand immediate ! ~ ~,~i ~t ul ,,u ;u~n, owc;cf ~ecause ot the implic~t matenal mis~epresentaUOn. ~ ! ~ Suspend Or Reduce Credlt Llne. The E3ai~k may, provided that notice is g~ven to you withm thiee (3) bus~ness days ct taking such action, prohlb+t ~.d t~,.u; A~l~~~,«•~ ur ~e~tuce the Cre:lit line ~Iunng any perad in wh~ch: t!~e ;::::::,E;al dwc;:!mg that secures Ihe Loan Advances dectenes signi6canqy below the dwetlir.g's appra~sed value ; t I r:~~ h,~~ ~h r~a~un.~t,ly t,~;~eves you w~ll be unable to ful}dl the repaymen! obligaUOn because of a matenaf change in your financial cucumstances 1'uu in ifut~ult ut a matenal obligat~on uncler thlS Agreement. D. The Bank is pre~luded by govemmant action from ~mpcsir.g the annual percentage rata provided for ~n this Agreement. E i he nun of the Bank's secun ~nterest in ow nnc~ al dweU~ rs adverset alfected b ovemment aCtion to the e~ctent that the va!ue ot the securi is ! P ?Y N Y P P ~9 Y Y 9 N less than 120 b ot th~ Credd Line. F The Bank ~s notihed by ds regularory agency that conhnued Loan Advances ~vo~ld const~tute an unsafe and un;ound practice. ~S T?~e n~axunum ~nterest rate hereunder ~s reached. Closing Costs. You agree to pay a11 charges ~ncurred m connection with the preparat~on, execut~on and recc,rding of the tvlortgage seCUring this Account ~y Cuat, ) es set fo!lh below : F~~s S 36 . 00 Intangible Tax ~ S 40. 00 _ F <<:, S S , t~... s l 40. 00 s t f~.~ , 5 Tolal Closing C~yts 5216 . 00 ..,1~ In ;,.f, ~~t~.,~ ~ t~, tt.e u uua! ~ipprai,al ,:f the ;c:al property securing this Account, the Bank may, at rts opUOn, and upon no less lhan f~heen (15) days' ;.,u .,NNra~,.,i; uf sa~d real N~.,µ~rty, wh~ch appra~sals shall not occur more ohen than once every three (3) years, and you agree to be „d~l~ lor and to pay any such addrtional appraisal fees. All said fees and laxes sha~l. !t paid by us, consUtute a laan Ad4ance to you. I t a Minimum Payments. Mirnmum payments hereunder shall be due and shall be made with~n twenty-five (25) days of ihe Ctosing Date of the monthly s:..:~ rnc;nt Each payment shall be an amount not less than 1.50%ot yotu New Balance ar si00.00, wh~chever is greater, plus Other Charges, plus any artwunt past c;:,e Each paymenl shall be credited fitst to unpaid Finance Charges, then to unpaid Oiher Charges, and finalfy to the remaining New Balance. You understand tr.,t SunLine Equity Account Checks may not be used to pay any artaunts owed pursuant to ihis Agreement. You understand that by making only minimum p.,;~r~ents your outstandmg New Baiance may not be paid in full by the Maturity Uate and a 9ailoon Payment may result. ~ 5 Manthly Sistements. A statement will be rendered each month your Account has a New Bala?x:e or activity, reflecting, among other items, Finance Charges, Other Charges (ident~fied by type). Credd Available and the artaunt payable by you on lhe Payment Due Date. Each statement will be considered as ; ;,orre~t and acceptable by you unless you notify the Bank of errws within sixty (60) days aRer it was mailed. I ~ i ~ 6 Financlal lnformatlon. You understand and acknowledge that the Bank has e~Rended credit to you on the basis of your financial condition at the time you ~ 3;;NS,ed for your Account. You agree to submit to the Bank updated financial inlormation periodically upon notlfication hom the Bank. If you fail to submit financial ; rn,~t~on when requested by the Bank or rf, based upon review of the submitted financial intormation, the Bank determines that your financial condition has ~ s~ly chanyed, your Accouni may be termmatecl and thereafter the Bank may take such action as provided for in paragraph 21. ~ ~ 17 S!opping Payments. The Bank's rules for stopp~ng payment on ordinary checks apply to stopping payment on Account checks. [ ':s Tax lmplications. You should cansutt your tax adv~sor regarding the deductibility of interest and charges hereunder. ~ Property Insurance. You understard that Property Insurance must be Obtai~ed in connection with your Account, and because it is not available through ~ f~.~~,k, ycu may obta~n such ~nsurance through any company o! your choice acceplable to the Bank. The Property Insurance shall provide tor such coverage as :~,cnbe:l ~n tha Mortyage and shaU be In an amount suHic~ent to pay the futl amount due on previously exlsGng er~cumbrances, mortgages or liens on the real ~ rty, ~nc~ud~ng propErty taxes and the full amount of your Credit Une on the Account. ~ :-0 Nolification. You shall immediately defiver wntten notice to the Bank ot any change in your financial condiUon, of any change in your resider?ce address, or ? ;;,~s or thett of your Account checks, or of any unauihonzed use of your Account. t ~ ~ 2 t Default. The Bank may dectare a default, terminate the AccouM, and/or demand immediate payment of all sums owed 'rf you fail to make a payment a ~,;rc:d herec~nder on aime; d you furnish any fa:se or misleading stalemant to the Bank; H you employ fraud w a material misrepresentation to obtain, maintain or ~ ~<<~ase the Credd Line; or our action or inactan adverse aHects the Bank's secu ~ Y b ritY or any right of th~ Bank in such sec~~rity. or constitutes an impngement ~ iiank's ~ucunty (as descnbed m the SunLme Eqwry Mortgage). In such event, and noMrithstanding the rate of interest provided herein, the interest charged ~ ~~~r~~c:r shall, thereafter, be at !he maximum rate allow2d from time to 6me, by law. tt ~s understood that the failure of the Bank to declare a defautt upon the ~ ~,;.;,;.r~~ny oi v~e events descnbed above shall not be deemed a waiver and that the Bank may later declare a defautt so fong as an event o( defauft exists at the ~ _.~i the Uccl::rat~on You agree to pay all costs of collection, inciuding reasonable attorneys' lees, incurred by the Bank in enforcing your obti43ations hereunder ~•.;~~tault UF;,~n rece~v~ng nobce of default, you shall delNer ro the Bank all unusesi Account checks You u~erstand and agree that the Bank may retain the , r~l sec~u ~g y~ur Account unUl all of yaur Account checks have been presented fw paymenl or retumed to thg 8artk and unUl afl amounts due 8nd Owing the . ~:~~t„na~:~ I~a~e been N~~d Should any Account checks be presented for payment t~ the E3ank after defautt, the amount theseof may be charged to your , • ~•;etc: i,ii~,,~,it {~nnci~~~l baldnCe :.yr~~i.~~nt Nol Assignable; Joint Liability. The Bank's commrtment to make loans will be to you exclusively and is not assignable by you. H there is more ' ~ ~~.,n~~:J u Account. each ~un~s nerem and agrees that the terms of this Agreement, and any abligation hereunder shall be ~oint and several ' , i:~~~ A~:~.;,.,~:t ~h~cks s~yneU by you or any other person namecl on the Account. Each such person h reby appoints the other as attorney-in•fact with the ~ r;~, ~~;~n ~,r ur~ur~~ fur each other Account checks ~sed pursuant to this Agreement, wh~ch appoin~ent cannot be revoked as bng as this Agreement ~ ~n ~tte~t Nut:~_e tu ~ny person named on the Account shall be sufhcient to constitute natice to atl perspns named on the ACCOUnt, and any notiCe is ~ at the teme it ~s depus~ted i~ the Unrted States Mad addressed to any address shown on the Account er to any alher address furn~shed in writing to the ~ :,K t,y you or by a~y other person o~ ~he Account. F ~ saoK 67~ PACE1451 : _ - - - - . , _ _ ~ 9,_.._