Common use of Default Fees Clause in Contracts

Default Fees. If you default under this contract (including a default in payment) you will become liable for all costs, charges and expenses provided for in clause 19 of the Terms and Conditions, including, but not limited to, the Lender’s own internal costs of administering the default (such as having to send arrears letters and notices and instruct solicitors) and all legal fees and disbursements calculated on a solicitor and own client basis incurred by the Lender in connection with the enforcement of the contract and the security documents Default fees become payable on the day the letter is generated, or on the day the service relating to the default fee was rendered or invoiced to the creditor. Charges incurred as a result of a default which are invoiced to the creditor by a third party are passed on to your account at the invoiced amount. Outline of fees as at the date of this statement: ▪ Standard overdue notice $13.00 ▪ Reversed payment letter $15.00 ▪ Repossession warning $26.00 ▪ Post-possession notice $27.00 ▪ Letter of demand $30.00 ▪ Standard repossession charge $200.00 (passed on at cost, actual cost can vary) FULL PREPAYMENT If you pay the unpaid balance in full before the final payment is due (full prepayment), you will be required to pay a fee or charge to compensate the creditor for the loss (if any) resulting from the full prepayment. While the creditor has opted not to use the formula prescribed by the Credit Contracts and Consumer Finance Regulations 2004 to calculate the charge, the charge is only intended to compensate the creditor for the loss they incur as a result of full repayment. See below for a description and formula showing how this fee is calculated. You may also be required to pay an account closure administration fee being a charge equal to the creditor’s average monthly administration cost arising from full prepayments, as well as the actual costs the creditor incurs in releasing security interests relating to the credit contract. As at the date this statement, these fees were: ▪ Account closure administration fee $45.00 ▪ Discharge of caveat $220.00 ▪ Discharge of mortgage $220.00 The amount of any fee or charge specified above in this disclosure statement is subject to change, and the amount that will be charged will be the creditor’s standard fee or charge at the time that particular fee or charge is imposed. Fee to compensate the creditor for the loss resulting from full prepayment The amount you will have to pay to compensate the creditor for the loss (if any) is determined by calculating the difference between the interest rate on your credit contract, and the interest rate the lender would earn if they put the money from the full prepayment on term deposit with their trading bank for the number of days it takes to re-lend the money (or the remaining duration of your account if that would be a lesser period). The loss calculation is represented by the following formula. Where: u Unpaid future balance at time of full prepayment t Average time taken to re-lend that money (28 days as at the date of this statement), calculated periodically by the creditor, or remaining term of contract (whichever is the lesser period of time). cin Interest rate on credit contract bin Interest rate bank would give the lender if it were to put amount u on term deposit for time t Formula: [[(cin − bin ÷100)× u]÷ 365]× t Example: The amount of $5,000 (u) is prepaid on a contract with an interest rate of 22% p.a (cin). The remaining time is 180 days, but the creditors’ calculation of the days it will take to re-lend the money is 44 days (t). The interest rate the lender can achieve for a 180 day term deposit is 7% p.a. (bin). So, given: u =5000, t =44, cin =22, bin =7, the fee to compensate the creditors loss is: [[(22 − 7 ÷100)× 5000]÷ 365]× 44 = $90.41

Default Fees. If you default under this contract (including a default in payment) you will become liable for all costs, charges and expenses provided for in clause 19 of the Terms and Conditions, including, but not limited to, the Lender’s own internal costs of administering the default (such as having to send arrears letters and notices and instruct solicitors) and all legal fees and disbursements calculated on a solicitor and own client basis incurred by the Lender in connection with the enforcement of the contract and the security documents Default fees become payable on the day the letter is generated, or on the day the service relating to the default fee was rendered or invoiced to the creditor. Charges incurred as a result of a default which are invoiced to the creditor by a third party are passed on to your account at the invoiced amount. Outline of fees as at the date of this statement: ▪  Standard overdue notice $13.00 ▪  Reversed payment letter $15.00 ▪ Repossession warning  Pre-possession notice $26.00 ▪  Post-possession notice $27.00 ▪  Letter of demand $30.00 ▪  Standard repossession charge $200.00 190.00 (passed on at cost, actual cost can vary) FULL PREPAYMENT If you pay the unpaid balance in full before the final payment is due (full prepayment), you will be required to pay a fee or charge to compensate the creditor for the loss (if any) resulting from the full prepayment. While the creditor has opted not to use the formula prescribed by the Credit Contracts and Consumer Finance Regulations 2004 to calculate the charge, the charge is only intended to compensate the creditor for the loss they incur as a result of full repayment. See below for a description and formula showing how this fee is calculated. You may also be required to pay an account closure administration fee being a charge equal to the creditor’s average monthly administration cost arising from full prepayments, as well as the actual costs the creditor incurs in releasing security interests relating to the credit contract. As at the date this statement, these fees were: ▪ Account closure administration fee $45.00 ▪ Discharge of caveat $220.00 ▪ Discharge of mortgage $220.00 The amount of any fee or charge specified above in this disclosure statement is subject to change, and the amount that will be charged will be the creditor’s standard fee or charge at the time that particular fee or charge is imposed. FULL PREPAYMENT  Account closure administration fee $17.00  Discharge of caveat $130.00  Discharge of mortgage $180.00 All borrowers and guarantors initial in box: INITIAL HERE FULL PREPAYMENT (CONTINUED…) Fee to compensate the creditor for the loss resulting from full prepayment The amount you will have to pay to compensate the creditor for the loss (if any) is determined by calculating the difference between the interest rate on your credit contract, and the interest rate the lender would earn if they put the money from the full prepayment on term deposit with their trading bank for the number of days it takes to re-lend the money (or the remaining duration of your account if that would be a lesser period). The loss calculation is represented by the following formula. Where: u Unpaid future balance at time of full prepayment t Average time taken to re-lend that money (28 38 days as at the date of this statement), calculated periodically by the creditor, or remaining term of contract (whichever is the lesser period of time). cin Interest rate on credit contract bin Interest rate bank would give the lender if it were to put amount u on term deposit for time t Formula: [[(cin − cin  bin ÷100)× u]÷ 365]× 100 u 365 t Example: The amount of $5,000 (u) is prepaid on a contract with an interest rate of 22% p.a (cin). The remaining time is 180 days, but the creditors’ calculation of the days it will take to re-lend the money is 44 days (t). The interest rate the lender can achieve for a 180 day term deposit is 7% p.a. (bin). So, given: u =5000, t =44, cin =22, bin =7, the fee to compensate the creditors loss is: [[(22 − 22  7 ÷100)× 5000]÷ 365]× 44 100 0000 000 00 = $90.41

Default Fees. If you don’t keep to this agreement or if another default under this contract event occurs, you may need to pay default fees (including a our current default fees are outlined below as at the date of disclosure). We may vary these fees and charges at any time (but we will only do so on reasonable grounds and in payment) accordance with applicable law). All default fees and charges are charged to your account at the time the relevant fee or charge is incurred. If you do not pay any default fees when they are charged to your account, they will become liable part of your unpaid principal balance and an overdue amount on which default interest may be charged. Late Payment Fee Charged to your account each time you are more than two days late in paying an amount that is due and on a weekly/fortnightly or monthly basis for all the period while the amount is overdue (to cover the additional cost of administering your account while payments are overdue). Payment Plan Late Fee A reduced late fee charged to your account when you have a payment plan in place instead of the late fee described above. This fee is incurred each time you are more than two days late in paying an amount due under a payment plan (to cover the additional cost of administering your account when payments are overdue). Door Knock Fee $35.00 Charged to your account each time we are reasonably required to visit you to discuss an event of default (to cover the cost of the visit). Other Repossession Fees: locksmith, storage, disposal costs, charges and expenses provided for in clause 19 of the Terms and Conditions, including, but not limited to, the Lender’s own internal costs of administering the default (such as having repossession agents. Actual Cost Charged to send arrears letters and notices and instruct solicitors) and all legal fees and disbursements calculated on a solicitor and own client basis incurred by the Lender in connection with the enforcement of the contract and the security documents Default fees become payable on the day the letter is generated, or on the day the service relating to the default fee was rendered or invoiced to the creditor. Charges your account when reasonably incurred as a result of a default which are invoiced to the creditor by a third party are passed on to your account at the invoiced amount. Outline of fees as at the date of this statement: ▪ Standard overdue notice $13.00 ▪ Reversed payment letter $15.00 ▪ Repossession warning $26.00 ▪ Post-possession notice $27.00 ▪ Letter of demand $30.00 ▪ Standard repossession charge $200.00 (passed on at cost, actual cost can vary) FULL PREPAYMENT If you pay the unpaid balance in full before the final payment is due (full prepayment), you will be required to pay a fee or charge to compensate the creditor for the loss (if any) resulting from the full prepayment. While the creditor has opted not to use the formula prescribed by the Credit Contracts and Consumer Finance Regulations 2004 to calculate the charge, the charge is only intended to compensate the creditor for the loss they incur as a result of full repayment. See below for a description and formula showing how this fee is calculatedevent. You may also be required have a right to pay an account closure administration fee being a charge equal cancel this agreement Time limits for cancellation You must give notice that you intend to the creditor’s average monthly administration cost arising from full prepaymentscancel this loan agreement within: (a) 5 working days of receipt, as well as the actual costs the creditor incurs if this loan agreement is handed to you in releasing security interests relating to the credit contract. As at person; (b) 7 working days of the date this statementloan agreement is emailed to you; or (c) 9 working days of the date this loan agreement is posted to you. Saturdays, these fees wereSundays and public holidays are not counted as working days. If you want to cancel this agreement, you must let us know in writing by: ▪ Account closure administration fee $45.00 ▪ Discharge • Giving notice to us or one of caveat $220.00 ▪ Discharge our employees in person at the office of mortgage $220.00 Limelight Financial Services Limited • Posting notice to us at PO Box 204365, Highbrook, Manukau 2161 • Emailing notice to us at xxxxxxxx@xxxxxxxxxxxx.xx.xx What you may have to pay if you cancel If you cancel this agreement, we can charge you: a) The amount of any fee or charge specified above reasonable expenses we had to pay in connection with this disclosure statement is subject to changeagreement and its cancellation (including legal fees and fees for credit reports, etc); and the amount that will be charged will be the creditor’s standard fee or charge at the time that particular fee or charge is imposed. Fee to compensate the creditor b) Interest for the loss resulting from full prepayment The amount you will have to pay to compensate the creditor for the loss (if any) is determined by calculating the difference between the interest rate on your credit contract, and the interest rate the lender would earn if they put the money period from the full prepayment on term deposit with their trading bank day you received the advance until the day you repay the advance. You must also repay to us any advance you’ve received under this agreement What do you need to do if you suffer unforeseen hardship? If you can’t keep up your payments because of an unexpected event that causes you hardship – for the number example illness, injury, loss of days it takes to re-lend the money (employment or the remaining duration end of a relationship – you can apply to us for a hardship variation. To apply, you need to write to us explaining your account if that would be a lesser period). The loss calculation is represented by the following formula. Where: u Unpaid future balance at time of full prepayment t Average time taken situation and ask us to re-lend that money (28 days as at the date of this statement), calculated periodically by the creditor, or remaining term of contract (whichever is the lesser period of time). cin Interest rate on credit contract bin Interest rate bank would give the lender if it were to put amount u on term deposit for time t Formula: [[(cin − bin ÷100)× u]÷ 365]× t Example: The amount of $5,000 (u) is prepaid on a contract with an interest rate of 22% p.a (cin). The remaining time is 180 days, but the creditors’ calculation do one of the days it will take to re-lend the money is 44 days (t). The interest rate the lender can achieve for a 180 day term deposit is 7% p.a. (bin). So, given: u =5000, t =44, cin =22, bin =7, the fee to compensate the creditors loss is: [[(22 − 7 ÷100)× 5000]÷ 365]× 44 = $90.41following:

Default Fees. If you all rent due is not paid on or before the Due Date, Xxxxxx agrees to pay fees in accordance to the following schedule: Late fee, 5 days late after Due Date $10.00 Interest on any unpaid balance 1.5% / month Over-lock fee when in default under this contract for 30 days or more $15.00 Cut lock fee when in default or upon request $25.00 Inventory and lien enforcement fee $75.00 Cleanup fee minimum $30.00 minimum plus $15/hour labor Returned check fee $35.00 Borrowed facility lock if not returned with keys $20.00 PayPal transaction fee (including a default if free transaction option is not selected) 3% Tenant Initials _ Termination A fifteen (15) day written notice by Xxxxxxxx or Tenant to the other will terminate the tenancy. The Space will be left broom clean and in payment) you will become liable good condition. Tenant is responsible for all costs, charges and expenses provided damages to the Space. Refer to conditions for in clause 19 the return of the Terms security deposit mentioned above. Space Tenant accepts the Storage Space ("Space") as being broom clean and Conditionsin good condition and upon vacating space, includingwill pay Landlord for necessary repair or cleanup due to negligence or misuse while under Tenant’s control. Tenant may not, but in any form, alter the inside nor outside of the Space. Size of the Space is approximate and there is no abatement or adjustment in rent if the Space is smaller or larger than declared. Security Deposit Receipt is xxxxxx acknowledged of said security deposit for the faithful performance of all the terms and conditions of this lease. Under no circumstances is the said security deposit to be construed as rent, and Tenant shall not limited tobe entitled to any interest on same. Landlord is authorized to place security deposit in an interest bearing account with interest accruing to Landlord. The security deposit will be returned to Tenant only upon the occurrence of all the following conditions: All rent due plus any outstanding fees paid in full: Tenant shall not withhold payment of the last month's rent or any portion thereof on grounds that the security deposit serves as security for the unpaid rent. Fifteen (15) days advance written notice of vacating the Space given to Landlord Space is left unlocked, broom clean and in good condition (normal wear and tear excepted) Security deposit will be returned within thirty (30) days of terminating this lease and after the above conditions have been met. Failure for Tenant to comply with the above conditions shall be deemed a breach of contract and shall constitute the forfeiture of the security deposit. Self-Service Storage Facility Lien In accordance with Colorado Statutes (CRS 38-21.5), the Lender’s own internal costs lien attaches from the date the personal property or vehicle is brought to the self- service storage facility and continues so long as it remains in the facility. After the Tenant has been in default continuously for a period of administering thirty days, the default (such as having Landlord may begin enforcement action. Any notice made pursuant to send arrears letters and notices and instruct solicitors) and all legal fees and disbursements calculated on a solicitor and own client basis incurred by the Lender in connection this section shall be presumed delivered when it is deposited with the enforcement of the contract United States postal service with postage and the security documents Default fees become payable on the day the letter is generated, properly addressed or on the day the service relating sent by e-mail to the default fee was rendered or invoiced to the creditor. Charges incurred as a result of a default which are invoiced to the creditor by a third party are passed on to your account at the invoiced amount. Outline of fees as at the date of this statement: ▪ Standard overdue notice $13.00 ▪ Reversed payment letter $15.00 ▪ Repossession warning $26.00 ▪ Post-possession notice $27.00 ▪ Letter of demand $30.00 ▪ Standard repossession charge $200.00 (passed on at cost, actual cost can vary) FULL PREPAYMENT If you pay the unpaid balance in full before the final payment is due (full prepayment), you will be required to pay a fee or charge to compensate the creditor for the loss (if any) resulting from the full prepayment. While the creditor has opted not to use the formula prescribed by the Credit Contracts and Consumer Finance Regulations 2004 to calculate the charge, the charge is only intended to compensate the creditor for the loss they incur as a result of full repayment. See below for a description and formula showing how this fee is calculated. You may also be required to pay an account closure administration fee being a charge equal to the creditor’s average monthly administration cost arising from full prepayments, as well as the actual costs the creditor incurs in releasing security interests relating to the credit contract. As at the date this statement, these fees were: ▪ Account closure administration fee $45.00 ▪ Discharge of caveat $220.00 ▪ Discharge of mortgage $220.00 The amount of any fee or charge specified above in this disclosure statement is subject to change, and the amount that will be charged will be the creditor’s standard fee or charge at the time that particular fee or charge is imposed. Fee to compensate the creditor for the loss resulting from full prepayment The amount you will have to pay to compensate the creditor for the loss (if any) is determined by calculating the difference between the interest rate on your credit contract, and the interest rate the lender would earn if they put the money from the full prepayment on term deposit with their trading bank for the number of days it takes to re-lend the money (or the remaining duration of your account if that would be a lesser period). The loss calculation is represented by the following formula. Where: u Unpaid future balance at time of full prepayment t Average time taken to re-lend that money (28 days as at the date of this statement), calculated periodically by the creditor, or remaining term of contract (whichever is the lesser period of time). cin Interest rate on credit contract bin Interest rate bank would give the lender if it were to put amount u on term deposit for time t Formula: [[(cin − bin ÷100)× u]÷ 365]× t Example: The amount of $5,000 (u) is prepaid on a contract with an interest rate of 22% p.a (cin). The remaining time is 180 days, but the creditors’ calculation of the days it will take to re-lend the money is 44 days (t). The interest rate the lender can achieve for a 180 day term deposit is 7% p.a. (bin). So, given: u =5000, t =44, cin =22, bin =7, the fee to compensate the creditors loss is: [[(22 − 7 ÷100)× 5000]÷ 365]× 44 = $90.41last known address.