201607159 - Laserfiche WebLink

Browse

1111 201607159 Loan Number 1847149162 or other assessments. The new principal balance of my Note is $152,118.59 ( "New Principal Balance "). C. The Interest Bearing Principal Balance will re- amortize over 360 months. Interest will begin to accrue as of OCTOBER 01, 2016. The first new monthly payment on the New Principal Balance will be due on NOVEMBER 01, 2016, and monthly on the same date thereafter. My payment schedule for the modified Loan is as follows: Interest will accrue on the New Principal Balance at the rate of 3.500% annually. The monthly payment amount for principal and interest will be $683.08, which is an amount sufficient to amortize the New Principal Balance over a period of 360 months. The above terms in this Section 2.0 shall supersede any provisions to the contrary in the Loan Documents, including, but not limited to, provisions for an adjustable or step interest rate. D. Any amounts still due under the Loan Documents, will be paid by the earliest of the date I sell or transfer an interest in the Property, subject to Section 3.E below, the date I pay the entire New Principal Balance, or the Maturity Date. E. I will be in default if (i) the monthly payments are not made in full on the date they are due, or (ii) I do not comply with the terms of the Loan Documents, as modified by this Agreement. If a default rate of interest is permitted under the current Loan Documents, then in the event of default, the interest that will be due on the New Principal Balance will be the rate set forth in Section 2.C. Additional Agreements. I agree to the following: A. That this Agreement shall supersede the terms of any modification, forbearance, or workout plan, if any, that I previously entered into with the Lender. B. To comply, except to the extent that they are modified by this Agreement, or by the U.S. Bankruptcy Code, with all covenants, agreements, and requirements of the Loan Documents, including my agreement to make all payments of taxes, insurance premiums, assessments, impounds, and all other payments, the amount of which may change periodically over the term of my Loan. This Agreement does not waive future escrow requirements. If the Loan includes collection for tax and insurance premiums, this collection will continue for the life of the Loan. C. That the Loan Documents are composed of valid, binding agreements, enforceable in accordance with their terms. D. That all terms and provisions of the Loan Documents, except as expressly modified by this Agreement, or by the U.S. Bankruptcy Code, remain in full force and effect; nothing in this Agreement shall be understood or construed to be a satisfaction or release in whole or in part WF101 LOAN MODIFICATION AGREEMENT - CHAMP ver. 09_26_2016_11_00_40 I I I 6 CMINIIIIN mb CR43862 WF101 (page 3 of 8 pages)