Closed End Credit. You and I agree that I may borrow up to the maximum only one time (and subject to all other conditions).
Closed End Credit. You and I agree that I may borrow in aggregate an amount not to exceed the principal sum shown above. Amounts I repay under this Note may not be re-borrowed later. My right to borrow is subject to all other conditions and expires on . |X| INTEREST: I agree to pay interest on the outstanding principal balance from: May 05, 2006 at the rate of 7.750000% per year until the index rate changes. Variable Rate: This rate may then change as stated below. |X| Index rate: The future rate will be 0.000% ABOVE the following index rate: LENDER'S PRIME, WHICH IS THE BASE RATE USED BY LENDER TO SET INTEREST RATE AT WHICH LOANS ARE MADE TO VARIOUS CUSTOMERS. LOANS MAY NOT BE MADE AT, ABOVE OR BELOW SAID PRIME RATE. |_| No Index: The future rate will not be subject to any internal or external ________ it will be entirely in your control. |X| Frequency and Timing: The rate on this note may change as often as DAILY. A change in the interest rate will take effect WHEN THE INDEX RATE CHANGES. |X| Limitations: During the term of this loan, the applicable annual interest rate will not be more than ______% or less than 6.00% The rate may not change more than _____% each___________. Effect of Variable Rate: A change in the Interest rate will have the following effect on the payments: |X| The amount of each scheduled payment will change. |_| The amount of the final payment will change. |_| ----------------------------------------------------------------------- ACCRUAL METHOD: Interest will be calculated on a ACTUAL # DAYS/360 - DAY YEAR basis. POST MATURITY RATE: I agree to pay Interest on the unpaid balance of this note owing after maturity, and until paid in full, as stated below: |X| on the same fixed or variable rate basis in effect before maturity (as indicated above). |_| at a rate equal to ___________________________________________________. |X| LATE CHARGE: I agree to pay a late charge on the portion of any payment not made within 10 days after it is due equal to 5% OF THE UNPAID AMOUNT WITH A MINIMUM OF $25.00. |X| ADDITIONAL CHARGES: In addition to interest, I agree to pay the following charges which |_| are |X| are not included in the principal amount above: ---------------------------------------------------------------------------- $250.00 BANK PROCESSING FEE, ---------------------------------------------------------------------------- PAYMENTS: I agree to pay this note as follows: |X| Interest: I agree to pay accrued Interest MONTHLY Beginning June 20, 2006 ----------...
Closed End Credit. In an oral re- sponse to a consumer’s inquiry about the cost of closed-end credit, only the annual percentage rate shall be stated, except that a simple annual rate or periodic rate also may be stated if it is applied to an unpaid balance. If the an- nual percentage rate cannot be deter- mined in advance, the annual percent- age rate for a sample transaction shall be stated, and other cost information for the consumer’s specific transaction may be given.
Closed End Credit. You and I agree that I may borrow up to the maximum only one time (and subject to all other conditions). INTEREST: I agree to pay interest on the outstanding principal balance from NOV. 12, 1996 at the rate of 9.250% per year until FIRST CHANGE DATE. XX VARIABLE RATE: This rate may then change as stated below. X INDEX RATE: The future rate will be 1.000% OVER the following index rate: WALL STREET JOURNAL BASE RATE AS ESTABLISHED BY THE MINIMUM PRIME LENDING RATE FOR LARGE U.S. MONEY CENTER COMM. BANKS AS PUBLISHED IN MONEY RATES SEC. OF W.S.J. X CEILING RATE: The interest rate ceiling for this note is the QUARTERLY ceiling rate announced by the Credit Commissioner from time to time. X FREQUENCY AND TIMING: The rate on this note may change as often as DAILY. A change in the interest rate will take effect ON THE SAME DAY LIMITATIONS: During the term of this loan, the applicable annual interest rate will not be more than ________________% or less than ___%.
Closed End Credit. You and I agree that I may borrow up to the maximum only one time (and subject to all other conditions). THE PURPOSE OF THE LOAN IS: RENEWAL / Working Capital INTEREST: Interest accrues on a Actual/360 Day basis. I agree to pay interest on the principal balance owing from time to time as stated below. o Fixed Rate: I agree to pay interest at the fixed, simple rate of % per year, from until paid in full. x Variable Rate: I agree to pay interest from 08/30/2006 at the initial simple rate of 7.600% per year. This rate may change as stated below. THE FUTURE RATE WILL BE .650% BELOW Wall Street Journal Prime Rate (“the index”) as published in the The Money Tables of the Wall Street Journal. THE INTEREST RATE ON THE NOTE MAY CHANGE AS OFTEN AS daily (ASSUMING THERE IS A CHANGE IN THE INDEX). A CHANGE IN THE INTEREST RATE WILL TAKE EFFECT 1st business day after change date. AN INCREASE IN THE INTEREST RATE WILL CAUSE AN INCREASE IN THE PAYMENT AMOUNT. Post-Maturity Interest Interest will accrue after maturity on the unpaid balance of this note on the same basis as interest accrues prior to maturity, unless a specific post-maturity interest rate is agreed to in the next sentence. o If checked, interest will accrue at the rate of % per year on the balance of this note not paid at maturity, including maturity by acceleration. o If checked, I agree to pay a minimum FINANCE CHARGE of $ if I pay this loan before you have earned that much in FINANCE CHARGES.
Closed End Credit. You and I agree that I may borrow (subject to all other conditional up to the maximum principal sum only one time. INTEREST: I agree to pay interest on the outstanding principal balance from 12-03-2001 at the rate of 7.500% per year until 06-01-2002. [X] VARIABLE RATE: This rate may change as stated below. [ ] INDEX RATE: The future rate will be ------ the following index rate: [ ] CEILING RATE: The interest rate ceiling for this note is the ___________ ceiling rate announced by the Credit Commissioner from time to time.
Closed End Credit. You and I agree that I may borrow (subject to all other conditions) up to the maximum principal sum only one time. INTEREST: I agree to pay interest on the outstanding principal balance from 11/15/2001 at the rate of 5.000% per year until the interest rate as provided for in this note. __X__Variable Rate: This rate may then change as stated below. __X__Index Rate: The future rate will be EQUAL TO the following index rate: THE LOWEST OF THE U.S. PRIME RATES AS PUBLISHED IN THE MONEY SECTION OF THE WALL STREET JOURNAL _____No Index: The future rate will not be subject to any internal or external index. It will be entirely in your control. __X__Frequency and Timing: The rate on this note may change as often as MONTHLY. A change in the interest rate will take effect 1ST DAY OF THE MONTH FOLLOWING CHANGE.
Closed End Credit. You and I agree that I may borrow up to the maximum only one time (and subject to all other conditions). INTEREST: I agree to pay interest on the outstanding principal balance from 4/29/98 at variable rate indicated below until paid in full, the initial interest rate being 10.500%. [ ] VARIABLE RATE: This rate may then change as stated below. [ ] INDEX RATE: The future rate will be 2.000% PLUS the following index rate: INDEX 16 - WALL STREET JOURNAL DAILY. [ ] NO INDEX: The future rate will not be subject top any internal or external index. It will be entirely in your control. [X] FREQUENCY AND TIMING: The rate on this note may change as often as daily. A change in the interest rate will take effect same day as prime changes. [ ] LIMITATIONS: During the term of this loan, the applicable annual interest rate will not be more than _____________________% each _______________________. EFFECT OF VARIABLE RATE: A change in the interest rate will have the following effect on the payments: [ ] The Amount of each scheduled payment will change. [ ] The Amount of the final payment will change. ACCRUAL METHOD: Interest will be calculated on a actual/365 basis. POST MATURITY RATE: I agree to pay interest on the unpaid balance of this note owing after maturity, and until paid in full, as stated below: [X] on the same fixed or variable rate basis in effect before maturity (as indicated above). [ ] at a rate equal to _____________________________________. [X] LATE CHARGE: If a payment is made more than 10 days after it is due, I agree to pay a late charge of 5% of regular payment or $50.00, whichever is less. [X] ADDITIONAL CHARGES: In addition to interest, I agree to pay the following charges which [ ] are [X]are not included in the principal amount above: $2,500.00 TRANSACTION FEE PER EACH ADVANCE. PAYMENTS: I agree to pay this note as follows: [X] INTEREST: I agree to pay accrued interest at maturity. [X] PRINCIPAL: I agree to pay the principal at maturity on May 18, 2000. [ ] INSTALLMENTS: I agree to pay this note in ___________ payments. The first payment will be in the amount of $ _____________________________ and will be due ______________________________________________________ thereafter. The final payment of the entire unpaid balance of principal and interest will be due ______________________________________. [ ] If checked, and this loan is secured by a first lien on real estate, then any accrued interest not paid when due (whether due by reason of a schedule ...
Closed End Credit. For closed-end loans, if, after consummation, a security interest is taken in any real property, or in personal property used or expected to be used as the consumer’s principal dwelling, an exempt loan remains exempt under § 226.3(b). However, the addition of a security interest in the consumer’s principal dwelling is a transaction for purposes of § 226.23, and the creditor must give the consumer the right to rescind the security interest consistent with that section. See § 226.23(a)(1) and the accompanying commentary. In contrast, if a closed-end loan that is exempt under § 226.3(b) is satisfied and replaced by a loan that is secured by any real property, or by personal property used or expected to be used as the consumer’s principal dwelling, the new loan is not exempt under § 226.3(b) and the creditor must comply with all of the applicable requirements of this part. See comment 3(b)–5.
Closed End Credit. For closed-end loans, if after consummation a security interest is taken in real property, or in personal property used or expected to be used as the consumer’s principal dwelling, an exempt loan remains exempt under § 1026.3(b).
