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Elk River HRA Homeowner Rehabilitation Program <br />Truth in Lending Statement <br />3.5% Installment Loan <br />Borrower(s): William & Denise Hoops Project #. ER -12 <br />Project address: 806 Holt Ave. NW Elle 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 ager you have made <br />(total interest) your behalf all payments as scheduled <br />3.50% $ 7,067.90 $24,645.00 $31,712.40 <br />Your payment schedule will be: <br />Number of Payments Amount of Payments Due Date Monthly Starting <br />180 $176..1.8 1" of each month .lune 1$1, 2017 <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 $24,645.00 <br />= Construction costs associatedwith rehabilitation 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 />Borrower: 1- Date: <br />Borrower: Date: <br />