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Elk River HRA Homeowner Rehabilitation Program <br /> Truth in Lending Statement <br /> 2.25% Installment Loan <br /> Borrower(s): Scott&Cynthia Thompson Project#: ER-3 <br /> Project address: 1021 4th St.NE Elk River,MN 55330 <br /> Annual%Rate Finance Charge Amount Financed Total of Payments <br /> The cost of your credit Dollar amount the Amount of credit Amount you will have <br /> as a yearly rate credit will cost you provided to you on paid after you have made <br /> (total interest) your behalf all payments as scheduled <br /> 2.25% $2,588.27 $22,000.00 $24,588.27 <br /> Your payment schedule will be: <br /> Number of Payments Amount of Payments Due Date Monthly Starting <br /> 120 $204.90 1St of each month October 1st,2015 <br /> Security: You are giving a security interest in the property to improve <br /> Prepayment: If you pay off early,you will not have to pay a penalty <br /> Assumption: Someone buying your property cannot assume the remainder of the repayment agreement on the <br /> original terms <br /> See your contract documents for any additional information about non-payment,default,any required prepayment in <br /> full before the schedule date,and prepaying refunds and penalties. <br /> Itemization of the Amount Financed of$22,000.00. <br /> • Construction costs associated with project <br /> The makers,guarantors,endorsers and any other parties to this Note hereby waive presentment,demand,protest and <br /> notice of dishonor and protect and hereby agree that an extension or extensions of the time of payment of this Note <br /> or any installment or part hereof may be made before,at or after maturity by agreement with any one or more of the <br /> parties hereto with out notice to and without releasing the liability of any other party to this Note. <br /> By executing this Note,the undersigned acknowledge receipt of a copy thereof prior to execution. <br /> — <br /> Borrower: )4 Date: O _.15 <br /> Borrower: L t �' Date: <br />