Exhibit 1
XXXXXXXX FEDERAL SAVINGS XXXXX X. XXXXXXX
000 XXXXX 0XX XX. C/O CLASSIC BANK Loan Number 00-0000000-0
IRONTON, OH 45638 P.O BOX 1527 Date FEBRUARY 26, 2003
ASHLAND, KY 41105-1527 Maturity Date DEC. 31, 2003
XXXXXX'S NAME AND ADDRESS LOAN AMOUNT $83,095.00
"You" means the Lender, XXXXXXXX'S NAME AND
its Successors and assigns ADDRESS Renewal of ______________
"I" includes each
Borrower above,
jointly and severally
TERMS FOLLOWING A /_/ APPLY ONLY IF CHECKED
NOTE - For value received, I promise to pay to you, or your order, at your
address above, the principal sum of: EIGHTY THREE THOUSAND NINETY FIVE AND
NO/100********************************************************* Dollars $
83,095.00 plus interest from FEBRUARY 26, 2003 at the rate of 4.250 % per year
until MARCH 31, 2003
[XX] ORIGINATION FEE - I also agree to pay a nonrefundable origination fee of
$ 95.00, and it will be /_/ paid in cash, /_/ paid pro rata over the loan term,
[XX] withheld from the proceeds. (If this fee is withheld from the
proceeds, the amount is included in the principal sum.)
XX VARIABLE RATE. The rate above may then change so as always to be EQUAL TO
PRIME BANK LOAN RATE AS PUBLISHED IN THE FEDERAL RESERVE STATISTICAL RELEASE
H.15 . The interest rate may not change more than 2.000 % each MONTH The annual
interest rate in effect on this note will not at any time be more than 10.000%
or less than 3.000%. The interest rate in effect on this note may change
(as often as) MONTHLY (assuming there is a change in the base rate) and an
increase in the interest rate will cause an increase in /_/ the amount of each
scheduled payment. [XX] the amount due at maturity. /_/ the number of payments.
PAYMENT - I will pay this note as follows: ON DEMAND, BUT IF NO DEMAND IS MADE
(a) [XX] Interest due: AT MATURITY Principal due: ON DEMAND, BUT IF
NO DEMAND IS MADE THEN ON DECEMBER 31, 2003
(b) [ ] This note has _________ payments. The first payment will
be in the amount of $ ________ and will be due ____________
____________. A payment of $ _______ will be due on the _______
day of each ________________________________ thereafter. The
final payment of the entire unpaid balance of principal and
interest will be due _________________________________.
INTEREST - Interest accrues on a ACTUAL/365 basis.
[XX] LATE CHARGE - I agree to pay a late charge on the portion of any payment
made more than 10 days after it is due equal to 5.000% OF THE LATE PAYMENT
[XX] RETURNED CHECK CHARGE - I agree to pay a fee of $ 15.00 for each check,
negotiable order of withdrawal or draft I issue in connection with this loan
that is returned because it has been dishonored.
POST-MATURITY INTEREST - Interest will accrue after maturity on the unpaid
balance of this note on the same basis as interest accrues before maturity,
unless a specific post-maturity interest rate is agreed to in the next
sentence.
[ ] Interest will accrue at the rate of _________% per year on the balance
of this note note paid at maturity, including maturity by acceleration.
THE PURPOSE OF THIS LOAN IS - CONSUMER: PERSONAL EXPENSES
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SECURITY - You have certain rights that may affect my property as explained on
page 3. This loan [XX] is /_/ is not further secured.
(a) [XX]This loan issecured by STOCK ASSIGNMENT, dated
FEBRUARY 26, 2003.
(b) /_/ Security Agreement - I give you a security interest in the
Property described below. The rights I am giving you in this
Property and the obligations this agreement accrues are defined on
page 3 of this agreement.
The Property will be used for PERSONAL purposes.
ANNUAL PERCENTAGE RATE FINANCE CHARGE AMOUNT FINANCED TOTAL OF PAYMENTS I have the right to receive
The cost of my credit The dollar amount the The amount of credit The amount I will have paid at this time an itemization of
as a yearly rate. credit will cost me. provided to me or when I have made all Amount Financed.
on my behalf scheduled payments. ________Yes I want
an itemization
4.391% $3,075.04 $83,000.00 $86,075.04
------ --------- ---------- ----------
My Payment Schedule will be: ______ No I do not want
an itemization.
Number of Payments Amount of Payments When Payments are Due
1 86,075.04 DECEMBER 31, 2003 "e" means an estimate
- --------- ------------------ -----------------------------
$ _______ Filing Fees
$ _______ Nonfiling Insurance
[XX] This note has a demand feature. /_/ This note is payable on demand and all
disclosures are based on an assumed maturity of one year.
[XX] Variable Rate [XX] My loan contains a variable rate feature.
(check one) Disclosures about the variable rate
feature have been provided to me earlier.
[ ] The annual percentage rate may increase during the
term of this transaction if_________________________
____________________________________________________
Any increase will take the form of_____________________________________________
If the rate increased by ______________ % in ______________, the
____________________________________________________________________ will
increase to _____________________________. The rate may not increase more often
than once ____________________, and may not increase more than
______________________________ % each _________________________________. The
rate will not go above _________________________%.
Security - I am giving a security interest in: XX (brief description of
other property)
SHARES OF CLASSIC
BANKSHARES, INC.
/_/ the goods or property being purchased.
[XX] collateral securing other loans with you may also secure this loan.
[XX] my deposit accounts and other rights to the payment of money from you.
/_/ Late Charge - I will be charged a late charge on the portion of any payment
made more than __________ days after it is due equal to ______________
/_/ Required Deposit - The annual percentage rate does not take into account my
required deposit. Prepayment - If I pay off this note early, I will not have to
pay a penalty.
[XX] If I pay off this note early, I will not be entitled to a refund of
part of the origination fee.
[XX] Assumption - Someone buying the property securing this obligation cannot
assume the remainder of the obligation on the original terms. I can see my
contract documents for any additional information about nonpayment, default, any
required repayment before the scheduled date, and prepayment refunds and
penalties.
CREDIT INSURANCE - Credit life insurance and credit disability insurance are not
required to obtain credit, and will not be provided unless I sign an dagree to
pay the additional costs.
Type Premium Term
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Credit Life
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Credit Disability
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Joint Credit Life
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PROPERTY INSURANCE - I may obtain property insurance from anyone I want that is
acceptable to you. If I get the insurance from or through you I will pay
$___________________________ for __________________________________ coverage.
ITEMIZATION OF AMOUNT FINANCED
AMOUNT GIVEN TO ME DIRECTLY $ 83,000.00
AMOUNT PAID ON MY (LOAN) ACCOUNT $
TO LENDER $ 95.00
AMOUNTS PAID TO OTHERS ON MY BEHALF:
To Insurance Companies $
To Public Officials $
(less) PREPAID FINANCE CHARGE(S) $ 95.00
Amount Financed $ 83,000.00
(Add all items financed and subtract prepaid finance charges)
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SINGE INTEREST INSURANCE - I may obtain single interest insurance from anyone I
want that is acceptable to you. If I get the Insurance from or through you I
will pay $_______________ for _______________________ of coverage
ADDITIONAL TERMS OF THE NOTE
DEFINITIONS - "I," "me" or "my" means each Borrower who signs this note and each
other person or legal entity (including guarantors, endorsers, and sureties) who
agrees to pay this note (together referred to as "us"). "You" or "your" means
the Lender and its successors and assigns.
APPLICABLE LAW - This note and any agreement securing this note will be governed
by the laws of the State of Ohio. The federal Truth-In-Lending disclosures on
page 1 are disclosures only and are not intended to be terms of this agreement.
The fact that any part of this note cannot be enforced will not affect the rest
of this note. Any change to this note or any agreement securing this note must
be in writing and signed by you and me.
PAYMENTS - Each payment I make on this loan will be applied first to any charges
I owe other than principal and interest, then to interest that is due, and
finally to principal that is due. No late charge will be assessed on any payment
when the only delinquency is due to late fees assessed on earlier payments and
the payment is otherwise a full payment. The actual amount of my final payment
will depend on the interest rates (if variable) and my payment record. If any
payment due under this loan does not equal or exceed the amount of interest due,
you may, at your option, increase the amount of the payment due and all future
payments to an amount that will pay off this loan in equal payments over the
remaining term of this loan.
PREPAYMENT - I may prepay this loan in whole or in part at any time. If I prepay
in part, I must still make each later payment in the original amount as it
becomes due until this note is paid in full.
INTEREST - Interest accrues on the principal remaining unpaid from time to time,
until paid in full. If "Variable Rate" is checked on page 1, I will pay interest
at the rates in effect from time to time. Decreases in the interest rate for
this note will have the opposite effect on payments that increases would have.
This interest rate(s) and other charges on this loan will never exceed the
highest rate of charge allowed by law for this loan. You will figure a change in
the interest rate by using the index rate in effect at the time the interest
rate is to change. Changes in this index between scheduled changes in the
interest rate will not effect the interest rate. If the index specified on page
1 ceases to exist. I agree that you may substitute a similar index for the
original.
INDEX - If you and I have agreed that the interest rate on this note will be
variable and will be related to an index, then the index you select will
function only as a tool for setting the rate on this note. You do not guaranty,
by selecting any index, that the interest rate on this note will have a
particular relationship to the interest rate you charge on any other loans of
any type or class of loans with your other customers.
ACCRUAL METHOD - The amount of interest that I will pay on this loan will be
calculated using the interest rate and accrual method stated on page 1. For
interest calculation, the accrual method will determine the number of days in a
year. If no accrual method is stated, then you may use any reasonable accrual
method for calculating interest.
POST-MATURITY INTEREST - Interest will accrue on the principal balance remaining
unpaid after final maturity of the rate specified on page 1. For purposes of
this section, final maturity occurs: (a) If the note is payable on demand, on
the date you make demand for payment; (b) If the note is payable on demand with
alternate payment date(s), on the date you make demand for payment or on the
final
alternate payment date, whichever is earlier;
(c) On the date of the last scheduled payment of principal; or
(d) On the date you accelerate the due date of this loan (demand immediate
payment).
REAL ESTATE OR RESIDENCE SECURITY - If this loan is secured by real estate or a
residence that is personal property, the existence of a default and your
remedies for such a default will be determined by applicable law, by the terms
of any separate instrument creating the security interest and, to the extent not
prohibited by law and not contrary to the terms of the separate security
instrument, by this agreement.
DEFAULT - Subject to any limitations in the "REAL ESTATE OR RESIDENCE SECURITY"
paragraph above, I will be in default on this loan and any agreement securing
this loan if any one or more of the following occurs:
(a) I fail to make a payment in full when due;
(b) I die, am declared incompetent, or become insolvent;
(c) I fail to keep any promise I have made in connection with this loan;
(d) I fail to pay, or keep any other promise on, any other loan or agreement I
have with you;
(e) I make any written statement or provide any financial information that is
untrue or inaccurate at the time it is provided;
(f) Any creditor of mine attempts to collect any debt I owe through court
proceedings, set-off or self-help repossession;
(g) The Property is damaged, destroyed or stolen;
(h) I fail to provide any additional security that you may require;
(i) Any legal entity (such as partnership or corporation) that has agreed to
pay this note merges, dissolves, reorganizes, ends its business or
existence, or a partner by majority stockholder dies or is declared
incompetent; or
(j) Anything else happens that causes you to believe that you will have
difficulty collecting the amount I owe you.
If any of us are in default on this note or any security agreement, you
may exercise your remedies against any or all of us.
REMEDIES - Subject to any limitations in the "REAL ESTATE OR RESIDENCE SECURITY"
paragraph above, if I am in default on this loan or any agreement securing this
loan, you may:
(a) Make unpaid principal, earned interest and all other agreed charges I owe
you under this loan immediately due;
(b) Use the right of set-off as explained below;
(c) Demand more security or new parties obligated to pay this loan (or both) in
return for not using any other remedy;
(d) Make a claim for any and all insurance benefits or refunds that may be
available on my default;
(e) Use any remedy you have under state or federal law; and
(f) Use any remedy given to you in any agreement securing this loan.
By choosing any one or more of these remedies you do not give up your
right to use another remedy later. By deciding not to use any remedy should I be
in default, you do not give up your right to consider the event a default if it
happens again.
COSTS OF COLLECTION AND ATTORNEYS' FEES - I agree to pay you all reasonable
costs you incur to collect this debt or realize on any security. This includes,
unless prohibited by law, reasonable attorneys' fees. This provision also shall
apply if I file a petition or any other claim for relief under any bankruptcy
rule or law of the United States, of if such petition or other claim for relief
is filed against me by another.
SET-OFF - I agree that you may set off any amount due and payable under this
note against any right I have to receive money from you. "Right to receive money
from you" means;
(a) Any deposit account balance I have with you;
(b) Any money owed to me on an item presented to you or in your possession for
collection or exchange; and
(c) Any copurchase agreement or other nondeposit obligation.
"Any amount due and payable under this note" means the total amount of
which you are entitled to demand payment under the terms of this note at the
time you set off. This total includes any balance the due date for which you
properly accelerate under this note.
If my right to receive money from you is also owned by someone who has
not agreed to pay this note, your right of set-off will apply to my interest in
the obligation and to any other amounts I could withdraw on my sole request or
endorsement. Your right of set-off does not apply to an account or other
obligation where my rights arise only in a representative capacity. It also does
not apply to any Individual Retirement Account or other tax-deferred retirement
account.
You will not be liable for the dishonor of any check when the dishonor
occurs because you set off this debt against any of my accounts. I agree to hold
you harmless from any such claims arising as a result of your exercise of your
right of set-off.
OTHER SECURITY - Any present or future agreement securing any other debt I owe
you also will secure the payment of this loan. Property securing another debt
will not secure this loan if such property is my principal dwelling and you fail
to provide any required notice or right of rescission. Also, property securing
another debt will not secure this loan to the extent such property is in
household goods.
OBLIGATIONS INDEPENDENT - I understand that my obligation to pay this loan is
independent of the obligation of any other person who has also agreed to pay it.
You may, without notice, release me or any of us, give up any right you have
against any of us, extend new credit to any of us, or renew or change this note
one or more times and for any term, and I will still be obligated to pay this
loan. You may, without notice, fail to perfect your security interest in,
impair, or release any security and I will still be obligated to pay this loan.
XXXXXX - X xxxxx (to the extent permitted by law) demand, presentment, protest,
notice of dishonor and notice of protest.
PRIVACY - I agree that from time to time you may receive credit information
about me from others, including other lenders and credit reporting agencies. I
agree that you may furnish on a regular basis credit and experience information
regarding my loan to others seeking such information. To the extent permitted by
law, I agree that you will not be liable for any claim arising from the use of
information provided to you by others or for providing such information to
others.
FINANCIAL STATEMENTS - I will give you any financial statements or information
that you feel is necessary. All financial statements and information I give you
will be correct and complete.
PURCHASE MONEY LOAN - If this is a Purchase Money Loan, you may include the name
of the seller on the check or draft for this loan.
SECURED OBLIGATIONS - This security agreement secures this loan (including all
extensions, renewals, refinancings and modifications) and any other debt I have
with you nor or later. Property described in this security agreement will not
secure other such debts if you fail to give any required notice of the right of
rescission with respect to the Property. Also, this security agreement will not
secure other debts if this security interest is in household goods and the other
debt is a consumer loan. This security agreement will last until it is
discharged in writing.
For the sale purpose or determining the extent of a purchase money
security interest arising under this security agreement:
(a) Payments on any nonpurchase money loan also secured by this agreement will
not be deemed to apply to the Purchase Money Loan; and
(b) Payments on the Purchase Money Loan will be deemed to apply first to the
nonpurchase money portion of the loan, if any, and then to the purchase
money obligations in the order in which the items were acquired.
No security interest will be terminated by application of this formula.
"Purchase Money Loan" means any loan the proceeds of which, in whole or in part,
are used to acquire any property securing the loan and all extensions, renewals,
consolidations and refinancings of such loan.
PROPERTY - The word "Property," as used here, includes all property that is
listed in the security agreement on page 1. If a general description is used,
the word Property includes all my property fitting the general description.
Property also means all benefits that arise from the described Property
(including all proceeds, insurance benefits, payments from others, interest,
dividends, stock splits and voting rights). It also means property that now or
later is attached to, is a part of, or results from the Property.
OWNERSHIP AND DUTIES TOWARD PROPERTY - Unless a co-owner(s) of the Property
signed a third party agreement, I represent that I own all the Property. I will
defend the Property against any other claim. I agree to do whatever you require
to perfect your interest and keep your priority. I will not do anything to harm
your position.
I will keep the Property in my possession (except if pledged and
delivered to you). I will keep it in good repair and use it only for its
intended purposes. I will keep it at my address unless we agree otherwise in
writing.
I will not try to sell or transfer the Property, or permit the Property
to become attached to any real estate, without your written consent. I will pay
all taxes and charges on the Property as they become due. I will inform you of
any loss or damage to the Property. You have the right of reasonable access in
order to inspect the Property.
If the Property is a motor vehicle, I represent that it is not a
vehicle seized pursuant to any federal, state or local forfeiture law.
INSURANCE - I agree to buy insurance on the Property against the risks and for
the amounts you require. I will name you as loss payee on any such policy. You
may require added security on this loan if you agree that insurance proceeds may
be used to repair or replace the Property. I agree that if the insurance
proceeds not do cover the amounts I still owe you, I will pay the difference. I
will buy the insurance from a firm authorized to do business in Ohio. The firm
will be reasonably acceptable to you. I will keep the insurance until all debts
secured by this agreement are paid.
DEFAULT AND REMEDIES - If I am in default, in addition to the remedies listed in
the note portion of this document and subject to any of the limitations in the
"REAL ESTATE OR RESIDENCE SECURITY" paragraph, you may (after giving notice and
waiting a period of time, if required by law):
(a) Pay taxes or other charges, or purchase any required insurance. If I fail
to do these things (but you are not required to do so), you may add the
amount you pay to this loan and accrue interest on that amount at the
interest rate(s) in effect from time to time, on this note until paid full;
(b) Require me to gather the Property and any related records and make it
available to you in reasonable fashion;
(c) Take immediate possession of the Property, but in doing so you may not
breach the peace and unlawfully enter onto my premises. You may sell, lease
or dispose of the Property as provided by law. (If the Property includes a
manufactured home, you will begin the repossession by giving me notice and
any opportunity to cure my default, as required by law.) You may apply what
you receive from the sale of the Property to your expenses, and then to the
debt. If what you receive from the sale of the Property is less than what I
owe you, you may take me to court to recover the difference (to the extent
permitted by law); and
(d) Keep the Property to satisfy the debt.
I agree that when you must give notice to me of your intended sale or
disposition of the Property, the notice is reasonable if it is sent to me at my
last known address by first class mail 10 days before the intended sale or
disposition. I agree to inform you in writing of any change in my address.
FILING - A copy of this security agreement may be used as a financing statement
when allowed by law.
ASSUMPTIONS - This security agreement and any loan it secures cannot be assumed
by someone buying the Property from me. This will be true unless you agree in
writing to the contrary. Without such an agreement, if I try to transfer any
interest in the Property, I will be in default on all obligations that are
secured by this security agreement.
THIRD PARTY AGREEMENT
For the purpose of the provisions within this enclosure "I," "me" or
"my" means the person signing below and "you" means the Lender identified on
page 1.
I agree to give you a security interest in the Property that is
described on page 1. I agree to the terms of this note and security agreement
but I am in no way personally liable for payment of the debt. This means that if
the Borrower defaults, my interest in the Property may be used to satisfy the
Borrower's debt. I agree that you may, without releasing me of the Property from
this Third Party Agreement and without notice of demand upon me, extend new
credit to any Borrower, renew or change this note or security agreement one or
more times and for any term, or fail to perfect your security interest in,
impair, or release any security (including guaranties) for the obligations of
any Borrower.
I HAVE RECEIVED A COMPLETE COPY OF THIS NOTE AND SECURITY AGREEMENT.
NAME:
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X
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NOTICE TO COSIGNER
You (the cosigner) are being asked to guaranty this debt. Think
carefully before you do. If the borrower doesn't pay the debt, you will have to.
Be sure you can afford to pay if you have to, and that you want to accept this
responsibility.
You may have to pay up to the full amount of the debt if the borrower
does not pay. You also may have to pay late fees or collection costs, which
increase this amount.
The creditor can collect this debt from you without first trying to
collect from the borrower. The creditor can use the same collection methods
against you that can be used against the borrower, such as suing you, garnishing
your wages, etc. If this debt is ever in default, that fact may become part of
your credit record.
This notice is not the contract that makes you liable for the debt.
SIGNATURES - I AGREE TO THE TERMS SET OUT ON PAGES 1, 2 AND 3 OF THIS AGREEMENT.
I HAVE RECEIVED A COPY OF THIS DOCUMENT ON TODAY'S DATE.
COSIGNERS - SEE NOTICE ABOVE BEFORE SIGNING.
Signed: For Lender
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Title: PRESIDENT AND CEO
Signature X Signature
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XXXXX XXXXXXX
Signature X Signature
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STOCK ASSIGNMENT SEPARATE FROM CERTIFICATE
FOR VALUE RECEIVED, XXXXX X. XXXXXXX hereby sell, assign and transfer unto
XXXXXXXX FEDERAL SAVINGS BANK __________ (______) Shares of the COMMON Capital
Stock of the CLASSIC BANCSHARES, INC. standing in XXXXX X. XXXXXXX'X name on the
books of said CORPORATION represented by Certificate No. _________ herewith and
do hereby irrevocably constitute and appoint ____________________ attorney to
transfer the said stock on the books of the within named Company with full power
of substitution in the premises
Dated: FEBRUARY 26, 2003
IN PRESENCE OF X Xxxxx X. Xxxxxxx
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XXXXX X. XXXXXXX
X /s/ Xxxx X. Xxxxxx
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XXXX X. XXXXXX
X /s/ Xxxx X. Xxxxx SIGNATURE GUARANTEED
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XXXX X. XXXXX
By:
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AUTHORIZED SIGNATURE
By:
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AUTHORIZED SIGNATURE
XXXXX X. XXXXXXX XXXXXXXX FEDERAL SAVINGS This agreement
C/O CLASSIC BANK 000 XXXXX 0XX XX. relates to
P.O. BOX 1527 IRONTON, OH 45638 LOAN NUMBER 00-0000000-0
ASHLAND, KY 41105-1527 ORIGINALLY DATED DECEMBER. 28, 2001
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"I" means the BORROWER(S) names above "You" means the LENDER named above. THIS AGREEMENT DATED FEB. 26, 2003
Definitions: As used in this agreement, the term "I" means the Borrower(s) named
above; "You" means the Lender named above; "Original Obligation" means my
previous agreement to pay you money (referred to above by Loan Number and
original date), and any related agreements such as a security agreement.
Extension Agreement: You and I have entered into an original obligation which is
a OBLIGATION TO PAY YOU MONEY.
By entering into this agreement, we are extending the due date(s) of 1 payments
of the original obligation.
(a) $ 24,253.56 originally DECEMBER 31, 2002 (a) DECEMBER 31, 2003 $25,225.70
------------- due ----------------- -----------------------------------
(b) $_________ originally __________________ (b) __________________ $_____________
due
(c) $_________ originally __________________ (c) __________________ $_____________
due
(d) $_________ originally __________________ (d) __________________ $_____________
due
Cost: For this extension, I agree to pay you the fees and/or additional interest
as indicated below:
/_/ A total fee of $________________________ /X/ Simple Interest, on the unpaid balances of principal
Upon prepayment of the entire outstanding balance of this remaining from time to time at the rate of 4.250$ per year
obligation; from FEB. 26, 2003 until PAID IN FULL. This interest rate
/_/ a portion of this fee may be refunded, as provided by law. is THE SAME AS the rate previously in effect on this
/_/ this fee will not be refunded. obligation.
ADDITIONAL TERMS
This agreement does not in any way, satisfy or cancel the original obligation.
Except as specifically amended by this agreement, all other terms of the
original obligation remain in effect. This means and includes, but is not
limited to:
(1) Property which secures the original obligation will continue to secure
my total responsibility to pay you as amended by this agreement. (2) All
parties who have a responsibility to pay you in any way the original
obligation (including any co-makers, endorsers and guarantors are made
responsible for the total amount I owe you as amended by this agreement.
If you require the consent to this extension by any additional party, I
agree to obtain such consent, and this extension agreement will not be
effective if the consent is not obtained. (3) Any post-maturity interest
rate provided for in the original obligation (except as specifically
contracted for here) shall now begin to apply after the last scheduled
payment of the original obligation as amended by this agreement. (4) You
will not be responsible to further extend the payments affected by this
agreement or any other scheduled payments. All other scheduled payments
not affected by this agreement shall remain due as previously scheduled.
(5) All provisions for default, remedies, attorneys' fees (if any) etc.
remain in effect. (6) My responsibility (if any) to provide insurance on
the property which secures the original obligation (if any) shall remain
in effect. However, the term of such insurance policy will not be extended
to cover any additional term resulting from this agreement unless
contracted for and any additional premiums paid. (7) The term of any
Credit Life and/or Disability Insurance coverages purchased in connection
with the original obligation will not be extended for the additional term
provided for in this agreement unless contracted for and any additional
premium is paid.
SIGNATURE OF AUTHORIZED REPRESENTATIVE SIGNATURE FOR BORROWERS - BY SIGNING
OF XXXXXX XXXXX, I AGREE TO THE EXTENSION.
I HAVE RECEIVED A COPY OF THIS
AGREEMENT ON TODAY'S DATE.
/s/ Xxxxx X. Xxxxxxx
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XXXXX X. XXXXXXX
/s/ Xxxx X. Xxxxx
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XXXX X. XXXXX
