7.1 HRSR 10-03-2016 - Laserfiche WebLink

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Elk River HRA Homeowner Rehabilitation Program Truth in Lending Statement 2.5% Installment Loan Borrower(s): Erin&Tracy Cunningham Project#: ER-11 Project address: 1420 5th St.NW Elk River,MN 55330 Annual% Rate Finance Charge Amount Financed Total of Payments The cost of your credit Dollar amount the Amount of credit Amount you will have as a yearly rate credit will cost you provided to you on paid after you have made (total interest) your behalf all payments as scheduled 2.5% $2,896.31 $22,069.00 $24,965.3 I Your payment schedule will be: Number of Payments Amount of Payments Due Date Monthly Starting 120 $208.04 1"of each month December 1st 2016 Security: You are giving a security interest in the property to improve Prepayment: If you pay off early,you will not have to pay a penalty Assumption: Someone buying your property cannot assume the remainder of the repayment agreement on the original terms See your contract documents for any additional information about non-payment,default,any required prepayment in full before the schedule date,and prepaying refunds and penalties. Itemization of the Amount Financed of$22,069.00 • Construction costs associated with rehabilitation project The makers,guarantors,endorsers and any other parties to this Note hereby waive presentment,demand,protest and notice of dishonor and protect and hereby agree that an extension or extensions of the time of payment of this Note or any installment or part hereof may be made before,at or after maturity by agreement with any one or more of the parties hereto with out notice to and without releasing the liability of any other party to this Note. By executing this Note,the undersigned acknowledge receipt of a copy thereof prior to execution. q Bo rrowe alf, t Date: '410IV .,- Borrower: ��''' /7 ` - Date: -x�