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Instructions: This addendum is incorporated into and becomes a part of your LOANLINER Credit Agreement. Please keep this attached to your LOANLINER Credit Agreement. The ANNUAL PERCENTAGE RATES, corresponding daily periodic rates and amount and due date of payments for each loan sub-account are shown below. If there is no payment schedule, the amount and due date of payment will be determined at the time of each advance and disclosed on the Disbursement Receipt. Other charges that may be imposed are also shown below (i.e., late charges, filling fees, collection costs). The ANNUAL PERCENTAGE RATE you receive for the new and used auto sub-accounts is based on certain creditworthiness criteria. Ask the credit union for the rate you qualify for. Effective Date: July 21, 2008 Replaces Dated Addendum: April 4, 2007
Certificate Secure Advances: The Annual Percentage Rate (APR) for certificate secured loan advances will be the dividend rate being paid on the certificate offered as security (index) plus 2.00%. The certificate must be renewed until the advance is completely paid. Failure to renew will result in default under the Plan. When the certificate is renewed, the APR will change to reflect the new dividend rate. Any increase in the APR will result in more payments of the same amount until what you owe has been repaid. The present annual percentage rate and the daily periodic rate will be disclosed on the voucher at the time of advance. Share Secured Advances: The Annual Percentage Rate (APR) for share secured loan advances will be the dividend rate being paid on the shares offered as security (index) plus 2.00%. The share balance must be maitained until untiil advance is completely paid. The APR will be adjusted at the begining of each quarter to reflect the current dividend rate paid on shares. Any increase in the APR will result in more payments of the same amount until what you owe has been repaid. The present annual percentage rate and the daily periodic rate will be disclosed on the voucher at the time of advance. Filing Fees: You will be charged a lien-filing fee at the time of an advance if the credit union takes a security interest in your collateral. The amount of the filing fee will be based on the amount of fee required by state law for the credit union to obtain a lien on your property. The amount of the filing fee will be disclosed on the collection costs. Collection Costs: you promise to pay all costs of collecting the amount you owe under this agreement including court costs and 15% attorney fees. Late Charge: If you are more than 15 days late, a late charge will be assessed equal to 20% of the accrued interest due on date of payment. Maximum is $25.00. Minimum payment: $25.00. This addendum is incorporated into and becomes a part of your LOANLINER Credit Agreement. Please keep this attached to your LOANLINER Credit Agreement. This instrument is an instrument under seal. __________________________________ __________________________________ _____________ |
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