Common Contracts
1 similar Change in Terms Agreement contracts
CHANGE IN TERMS AGREEMENTChange in Terms Agreement • March 27th, 2020
DESCRIPTION OF CHANGE IN TERMS. This Change in Terms Agreement ("Agreement") is entered into by Borrower to defer the regularly scheduled payments on the Loan for a three month period and to extend the term of the Loan by the same period. Interest will continue to accrue during the period of deferment, and, upon resumption of regularly scheduled payments, the payment will be applied towards deferred interest until the deferred interest has been paid in full. These changes will result in more interest due over the life of the loan as compared to the original terms.
