Preview
FILED: NASSAU COUNTY CLERK 03/14/2024 12:31 PM INDEX NO. 601324/2019
NYSCEF DOC. NO. 50 RECEIVED NYSCEF: 03/14/2024
EXHIBIT A
FILED: NASSAU COUNTY CLERK 03/14/2024 12:31 PM INDEX NO. 601324/2019
NYSCEF DOC. NO. 50 RECEIVED NYSCEF: 03/14/2024
Account Numlier
Wachovia Bank, National Association
Prime Line of Credit Agreement & Disclosure Statement
Equity
index"
"LIBOR Rate
Date of Agreement: July 15, 2008
.
Maximum Credit Llmth g 960D00.00
Borrower($)
SYEPHEN ESPOSITO
oATHENNE BU)VAN
contains the terms which apply to the
The Pdma Equity Line of Credit Agreement & Disclosure Statement ("Agreement")
Prima Equity Lino Account with Wachovla Bank, National Associa1ion. The words "I "mef and "my/ which also
("Account")
mean
'We,"
"us/ and *our? If more than one Borrower, mean the person or poisons signing thle Agreement, The words
"you," "your," and "yourt mean Wachovia Bank, NationeI Associallon CWachovia sank,NN),
Advances and Finance Charges, es
PROMleli TC PAY, I promise lo pay to Wachovia Bank, NA, the total emount of an
expenses for which I am responsible under this Agreement orunder the security Instrument, which
wall as all costs and
Agreement. if there
secures my Account, I agree to make payments an my Account In accordance wilh1he terrns of this
this Agreement. This means you
are multiple Dorrowers¿each Is jointly and severally Ilable for the total amount due under
Advances made to any Sorrower. Each
can requiro any Borrower to pay 811emounts due under this Agreement, Including
to request and receive
Borrower authorizes any other Sorrower, on ble or her signature elona, to cance) the Account,
and to do all other things necessary to carry out the terms of this Agreement, You may, but are not required
Advances, I
this Acreement. If you release any Borrower from responsibility, all
to, release any Borrower Irom responsibmty under
other Borrowers V4ll remain liable.
Issue to me Pdine Equity
ACCEBBING THE PRIME EQUITY LINE. Wachovle Bank, N.A. will estabHsh an Account and
The Prime Equity Une Checks and
Line Checks and If applicable law permits, a Credit Card Access Device ("Card").
amount of the Mexlmum Credit
Cord can be used to obtain Advances from my Account durinO the Draw Period,up to the
established in this Agreement, I may also request Advances In porSon at any of your authorked locations. I may
Limit
purchases or I may use my Card at designated ATM locations. if }
. also use my Card to receive cash advances, make
use the On-Une Banking
enroll In your On-Line Banking service and agree to the terms of your On-Una Agreement, I may
inclusion m the
solvice to Inlilate aledronio fund transfers hom my Account to any deposit account I have doo10notedfor
sIso link Wachovla Bank Domand 0cposit Account CDDA") debtt oard ('Debit Card")
On-Lina Danking service. I may my
Advances obtained under the terms of
to access my Account at designated ATMs, WachovIn Bank, NA will charge all
Checks will be for the amount of the Prima
this Agreement to rny Account. Advances made pursuant to Prime Equity Line
Line Check, Advances rnade pursuant 10 the use of a Card wlil be for the amount of the purchase or for the
Equity outlet plus any faea charged by the
amount of the Advance obleined with the Cerd or the Debit Card at any ATM or other
ElectronicPunds Transfer Act, 1 acknowledge and agree
ATM owner or merchant. Except for transactions covered by the
do not accept responsibl#ty for the
that when you act upon telephone instructions that you believe to be genulna, you
such telephone losituations. I further acknowledge and agree 1hat you will not be flable for any loss,
authenticity of fraudulent or unauthorized telephone
expense, or cost Incurred as a result of any telephone request, induding any
request
such ODA by authorizing you to Ilak those
If I have a DDA with you, I may request you to provide overdraft protection for
Account as described In this paragraph. Overdraft Advances obtained pursuani to such linking of a ODA
accounts to this
be mado in increments of $100,00, The overdraft proleotion feature works as follows: If the closing daily
account may
authorize and request you to make
balance of avatlebto funds in the linked OpA account h lass than $0,00, I hereby
of $100,00, in an amount sufficient to create a positive balance of
Advances lo me under this Account, In Increments
to the avaSable Credit Umh of the Account and to all
avaHable funds In the DDA (with ouch Advances subject In all events
Advance mado to ino under the overdraft protecilon
other terms and conditions of the DDA and this Agreement), Each
under this Agreement The availabilNy of Advances
linked arrangernant will be treated for ell purposes as a loan to me
Draw Period expires. I understand and a0tea that I
under this Agreement and the Ilnked arrangement will expke When the
be charged a fee under the terma and conditions of my DDA opon the occurrence of any overdraft.
may
other means of oblelning Advances from my Account, as
I agree that from time to time Wachovle eank, NA may establish
request to receive such now services. I
permitted by appilcable law, and that my signature on this Agreement constitutes my
reject or refuse such new services at the time they are offered. I understand that all such Advances made using such
may
servloes willbe govemed by the teñns of this Agreement.
you confHcting Instrucilons, such as
If thorn 1smore then one person authorized to use the Account we agree not to give
one of us tomng you not to honor Advances requested by another,
that you supply to me aro your property and must be retumed to you
I agreo that any Prime Equity Une Checks of Cerds I
Default of this Agreement or rny Advance privaeges are terminated or suspended In
. Immediately upon demand If ( am In
accordance with the terms of this Agreement,
honor requests for Advances in the
UMITATIONS ON THE USE OF ACCESS DEVICE$. You resolve the Itght not to
Credit Limit hp been or would be excooded by honoring the request; (2) my
following citoumstances: (1) my Maximum Checks or Card is reported lost or stolen: (4) my Account
Prime Equity Une Checkis post-dated: (3) my Prime Equity Una
thIs Agreement If you honored the request: of (6) my
has beart or could be, terminated or suspended as provided In
post-dated check Is paid, and as a result any other
access device la used by someone other than the Borrowers, If a
responsible for any losses or damages Ilocuras a resuN.
check Is rotumed or not pald, you wm not be
FILED: NASSAU COUNTY CLERK 03/14/2024 12:31 PM INDEX NO. 601324/2019
NYSCEF DOC. NO. 50 RECEIVED NYSCEF: 03/14/2024
If you pay any Advance requested under these condlllons, I agree to repay you, subject to appilcablo laws, for the amount
of the Advance, The Advance itself wlil be evidence of my debt to you logether with this Agreement, Your Ilability, if any,
for wrongful dishonor of an Advance Is Ilmited to my actual damages. Dishonor for any reasons as provided In th a
Agreement18 not wrongful dishonot
LOST ACCESS DEVICES, If I lose my Pdme Equity Une Checks or Card or If someona IS using them without my
permission, I agree to101you know Immedialely, The faslest way to notify you la by colling you at 1.800-240.3859.
TRANSACTION REQUREMENTS, The following transaction Ilmilationa will apply to my use of the AccounI: I may make
a maximum of six (6) cash transsellons per day from my Account by use of my Card or Debit Card, nol to exceed my
avalfable credit halance. These cash transactions inay eithef be Point of Sala (POB") cash transactions, ATM cash
Is
transadons, or a combination of both. The da#y single transaction IImn amount for PoInt of asle cash transadons
transactions Is
$9,999.00, with a maximum daily IImit of $59,994.00. The daily single transaction limit for ATM cash
$2,600.00, with a maximum daily Ilmit of $15,000,00, Additionally, the number of daily transactions that are allowed rney
be limited, but forsecurity reasons this number Is kept confidential.
ATM ACCESS LIMITATIONS, Transactions conducted at ATMs ere governed by the Ilmitations of the indMdual ATM
owners and may be subject to ATM fees and transactlan Ilmitations Imposed by the ATM owner,
LIABILITY FOR UNAUTitORIEED USE, LIablmy for Unauthodzed VISA Credit Card Transactions. I agree to notify you
will opt be
Immediately If my VISA Card has been lost or stolen or If I believe there are any unauthorized Iranandons, I
Ilable for the unauthodzed use of my Card that occurs after I notify you orally or In wr ling of the loss, theft or possible
unauthodzed use of my owd. I may inake 1his notice by calling 800-2494869 or by whilog to Wachovia Bank, NA,
P.O. Box 663966, Chadotte, NC 20256-3068. My Ilabl)y for me unauthorized use of my Card when it (5 used as a VISA
Cradlt Oard to pooose my Account will nol exceed $0.00. You may requhe ine to provide a wthlen statement regardino
clairns of unauthorized WSA credit Card Transactions. My liablilty for unauthodzed transactions may oxceed the 40.00
Ilmil If you find that I was grossly negllgent or fraudulent fo my handlino of my Account or my Card. In any case, my
Ilatsily for unauthodzed use of my Card for VISA Credit Card Transactions wlil not exceed $50.0D. VISAe )5 a registered
trademark of VIBA Intemational,
Additional Uablilly, If Iuse an access device to debll my DDA or use my Debit Card to access my Account, or If I inlilate a
transaction through the On-Une Banking service, I may be IIablo for additIonal amounIs, as well as the $50.00 potential
limBtations and error resolullen
Ilability referred to In the proceding paragraph. The detaVs regarding my liability
procedures for electronto fund transfer transactions are desodbed In the electronlo funds gransfer disclosure provided to
me in conneollonwjlh the opening of my DDA account and/or my enrollment in the On.Una Banldng Service.
MAXIMUM CitEiDIT LIMIT. My Maximurn Credit Umit Is indicated above, I agree never lo allow the Outstanding Balance
due on my Account to exceed the Maximum Credit Umit. I also agroo that you are not obilgated to pay any Advance of other
charge against my Account that would make my Outstanding Balanco exceed my Mexlmum Credit Limit. I agree to
established hereunder.
Immadlately repay, upon dentend, any Outstanding Balance that exceeds the Maximum Credit Umit
be approved in accordance with your
Any increases In my Maximum credit Umit I request willrequiro that a new oppiloation
then oppiloaDio underwriting standards and I mu$l sl00 any additional agreemenlS 1hat In your oplnlon are neceS$Gryto
secure yourInterest,
DRAW PERIOD AND REPAYMENT PERIDD. Except as provided heraln and unless terminated earlier 19accordance
with the tenna of this Agroomont, I may obtain Advances under the terms of this Agreement for 240 months from j
the Data of Agreement ('Draw Perted"). The Repayment Podod begins upon expiredon of the Draw Pedod and the tength
of 1110Repayment Pedod wl11depend on Ike outstanding Balance at the end of the Draw Pedod and the amount of iny
payments during the Repayment Parlod,
oBLloAtloN TO LEND, You are absolulely obligated under the terms of this Agreement to make Advances not to
exceed, at any one time in the aggregate, the amount Indloated as the Maximum credit Limll and I agree to repay any
Advances under the terms of this Agreement. Your obilgation to make Advances to me under this Agreement ends when
the right to obtain Advances terminates at Ihe ond of the Draw Period or when such Advance prMIoges are suspended or
larminated In accordance with the tenns of this Agreement.
FINANCE CtiARGE ON MY ACCOUNT BALANCE
rate will be Imposed If
(a) My Account has a monthly billing cyde. A Finance Chargo computed on a monthly peffodlo
there Is a balance owing on my Account at the end of any day of the b11ilogcycle. The monthly parlodla rate for an
initial Advance, if any, made by me will begin to accrue on the date such Advance Is made. The rnonthly pedodle rate
for any Advance other than an Initial Advance will bey1nto accrua on the Transaction Date as indicated on my bliling
Statement, If thla Agreement Is Qovemed by Mississippi law, Finance Charges shell not be Imposed on Advances
inade through the use of my Card for the purchase of marchandise and services occurring ofter the blillng date on my
ourrent Statement If payment In full of the ontire unpaid batence owing for all extensions of credit as shown on my
ourrent Statement Is received by you pilor to the next billing date.
will figure the Finance Charge on my Account by applying the monthly period10 rate to the "everage dally
(b) You
balance" balanco*
owing on my Account (including current transactions). To calculate the "overage daHy you will take
the beGInningbalance of my Account each day, add any new Advances charged to the Accoungpursuant to the terms
of thIs Agreement, ond subtract any payments or credits, This gives you the daHy balance. Then, you will add up all
the delry balances for the btiling cycle and divide the total by the number of days in the blNIng cycle. This gives you
balance."
the "average dolly
(c) The Finance Charge Imposed during a bllilng cycle will be determined by applying the monthly pedodlo rate that Is
1/12 of the corresponding ANNUAL PERCENTAGE RATE to the average daily balance. The ANNUAL
PERCENTAGE RATE and monthly periodio rate are variable rates and are subject to change on the first day of each
"Index" the London Inforbank
billing cyde, If there was a prior change In the index. TheRates" is the one-month rate of
Offered Rates ("LISOR") pubHshed regulady In the 'Money section of the Eastern odltlon of The Wan Street
Joumal.
movement subalanlially
(d) If LISOR becomes unavallable, you will sefact a new Inden which Is based on a histodcal
. similar to the original Index ond the new Index and Mnr0ln wlil resull (a an ANNijAL. PERCENTAGE RATE
notice of this
à subslantially slmliar to the rate la effect at the lime LIBOR becomes unavailable, You vall give me
change.
5fma(Rev01) 2 AgramenI
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NYSCEF DOC. NO. 50 RECEIVED NYSCEF: 03/14/2024
effective es of the 1st day of the calender month In which I
(a) The corresponding ANNUAL PERCENTAGE RATE Is
receive my Statement and 18 based on LISOR as published In the Eastom edition of The Wall Streef Joumal on Ihe
25th day of the plior calendar month plus a Margin of 2.ss %. If more than one LIBOR is published on the
Is published on the 25th DO NOT SIGN
CAUTION - IT IS IMPORTANT THAT I READ ALL PAGES OF WIIS
THIS AGREEMENT IP IT CONTAINS ANY BLANK SPACES
Agrooment.
oa abo tenns an acknowledge that I received a completed copy of this
Dy signing below, 1
EN ESPOSITQ
A
Borrower
sorrower
I
FOR OFFICE USE ONLY
Endomement.
Pay to the Order of .
Without Recourse
Waohovia Bank, National Assoolation
By
Name:
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NYSCEF DOC. NO. 50 RECEIVED NYSCEF: 03/14/2024
MY BILLING RIGHTS
I SHOULD KEEP THIS NOTICE FOR FUTURE USE
This notice contains Important informallort about my rights and your responsibilities under the Falt Credlt Billing Act.
I SHOULD NOTIFY YOU IN CASE OF ERRORS OR QUESTIONS ABOUT MY STATEMENT.
If I think Iny Statement Is wrong, or If I need more infognation about a transactlan on my Statement, ( should wilte you on a
separate sheet at the address listed on my Statement I should write you as soon as possible. You must hear from me no
later than 60 days after you sent me the first statement on which the error or problem appeared. I can telephone you, but
doing so wlil not preserve my rights.
In my leiter, I must give you the following Infonnation:
* My full name and Pdme EquKy Line Account Number,
" The doHaramount of the suspected error,
. I must describe the error and explain, If I can, why I believe there is an error. If I need more Information, I should
descdbe the Item I am not sure about.
MY RIGHTS AND YOUR RESPONSIBILITIES AFTER YOU RECEIVE MY WRITTEN NOTICE.
You must acknowledge my letter within 30 days, unless you have corrected the error by then. Wrthln 90 days, you must
either correct the error or explain why you belleva the Statement was correct,
After you receive my letter, you cannot try to coUectany amount I question, or report me as definquent. You can continue to
bill me for the amount I question, Including Finance Charges, and you can apply any unpaid arnount against my credNtimit. I
do not have to pay any questioned amount while you are Inves|lgating, but I am still obilgated to pay the ports of my
Statement that are not in question.
If you find that you made a mistake on rny StatementJ will not have to pay any Finance Charges related to any questioned
amount. If you didnt make a mistake, I may have to pay Finance Charges, and Iwill have to make up any missed payments
on the questioned amount In either case, you will send me a Statement of the amount I owo and the date that It Is due.
If I fall to pay the amount that you think L owe, you may report me as delinquent. However, If your explanation does not
to pay, you must tell anyone you report me to that I
sailsfy me and I wnte to you within 10 days telling you that I stlHinfuse
have a question about my Statement. And, you must te[I me the name of anyone you reported me to. You must tell anyone
you report me to that the matter has been settled between us when It finally le.
If you don't fo1Iowthese rules, you cani collect the fkst $60 of the questioned amount, even If my Statement was correct.
SPECIAL RULE FOR OREDIT CARD PURCHASES
If I have a problern with the quality of property or services purchased with a credit card, and I have tried In good faith to
correct the problem with the merchant, I may have the right not to pay the remelning amount due on the property or
services. There are two IImitations on this IIght:
miles of my current
(a) I must have made the purchase in my home state or, If not within my home state within 100
maIIIng address; and
dorft own or operate
(b) The purchase price must have been more than $50,00. These limilaUons do not apply If you
the merchant or If you molted me the advertisement of the property or services.
B72210
(Revon 6 Muh@SIMs
(06m0) PMAgaament
PAoMDoR
FILED: NASSAU COUNTY CLERK 03/14/2024 12:31 PM INDEX NO. 601324/2019
NYSCEF DOC. NO. 50 RECEIVED NYSCEF: 03/14/2024
ADDENDUM TO PRIME EQUITY LINE, OF CREDIT AGREEMENT
AND DISCLOSURE STATEMENT
FlXED RATE OPTION
and Disclosure Statement ("Addendum") Is
This Addendu to me Equity Line of Credit Agreement
dated as of 0 /15/ and is effective as of the date specified below and is Incorporated
to amend and supplement that Prime Equity Line of Credit Agreement and
Into and shall be deemed
that evidences the indebtedness of the undersigned ("Borrowers') to
Disclosure Statement ("Agreement")
National Association or Wachovia Bank of Delaware, National Assoolation ("Londer),
Wachovia Bank,
Capitalized that are not defined
tenns here shall have the same meaning glyen to them in the Agreement.
Charges" refers to the Finance Charges associated with the
The term "FInance as used in this Addendum
Principal of the Fixed Rate Option.
covenants and conditions stated herein and In the Agreement and for
in consideration of the promises,
receipt of which is acknowledged, Borrowers agree as follows:
other good and valuable consideration,
1, RATE INTEREST
FlXED PAYMENT OPTION. Borrowers have the option to convert the Interest rate
specified portion of the Account Outstanding Balance from the variable rate described in the
on all of a
Agreement to a fixed interest rate and temn as described hereIn.
Borrowers exerciseof the Fixed Rate Option is subject to Lenders written consent. During the Draw
Borrowers can convert all or a specified portion of the
Period at any time after (he first bliling cycle,
13alence to a fixed Interest rate ("Flxed Interest Rate'). The amount of any such
Account Outstanding
be no less than Five Thousand Dollars ($5,000). The term of the Fixed Rate Option
conversion must
of the Draw Period, NOTE: The
must he for at least five (5) years and may not exceed the maturity date
available Primo Line of Credit Account with less than five (5) years
Fixed Rate Option Is not for any Equity
remalning In the Drew Period,
at any time during the Draw Peded. The
Borrowers may only have one Fixed Rate Option outstanding
converted to the Fixed Rate Option Is referred to herein as 'Principal". Borrowers
speolfled emount
understand and agree that no further amounts can be added to the Principal amount of the Fixed Rate
Option.
at any one
}n addition to the limitation that Borrower may only have one Fixed Rate Option outstanding
Fixed Rate Option no more than three (3) times during any given twelve
time, Borrower may Initiate a
period. At the time Bonower requests a Fixed Rate Option Londer will look back over the
month
how many Fixed Rate Options Borrower has taken during that
preceding twelve (12) months to determine
Rate Option Initiations that period is less than three (3), Bonower
period. If the number of FIxed during
will be eligible to take another Fixed Rate Option.
Borrowers must notify Lender at 600-815-1722 to exercise this Fixed Rate Option. Any such exercise
until Lender has received a signed Notice of Change in Terms and ModificaUon to
shall not be effective
Line of Credit Agreement & Disclosure Statement executed by all Borrowers on the
Prime Equity
Account.
the Fixed APR and term at the time Borrowers request the conversion of a
Lender shall establish
Account Balanco to the Fixed Rate Option based upon the term and
speolfled portion of the Qutstanding
available for a comparable Home Equity Loan offered by Lender at the tIme based upon a like toan to
rate
value ratio or upon a rate and term otherwise agreed to. Finance Charges will be calculated on the Fixed
A complete disclosure of the terms and conditions goveming the Fixed Rate
Rate Option Principal,
Option will be provided to Borrowers In the form of a Modification Agreement/Notice of Change in Terms
at the time the Fixed Rate Option Is established.
I
SN123 (Nov02) t or3 (03/05)f%ed R option AddendumioPEL Agreement
FILED: NASSAU COUNTY CLERK 03/14/2024 12:31 PM INDEX NO. 601324/2019
NYSCEF DOC. NO. 50 RECEIVED NYSCEF: 03/14/2024
Balance"
Charge on My Account section that address and deal with the
The subsections of the "Finance
In
variable rate revolving portion of the Account Balance shall not apply to the Fixed Rate Option, Une"
the Prime and
addition, the Principal will not be subject to or govemed by the "Accessing Equity
Schedule" except as provided In this Addendum. lastead, Lender
"Payment sections of the Agreement
Fixed Rate Option by amortizing the Principal and
will calculate the fixed minimum payment due on the
for the Fixed Rate Option and determine the payment
related Finance Charges over the term selected
to pay off the balance In futi on the Principal and related Finance Charges
amount that would be required
payments over the term of the Fixed Rate Option at the Fixed APR.
In substantially equal monthly
Payment Due on the Account each month will be the sum of the fixed
Therefore, the Total Minimum
plus the minimum payment amount for the variable rate
payment amount for the Fixed Rate option
the formula set forth in the Payment Schedule section
balance of the Account calculated using
revolving
of the Agreement.
Instructed Borrowers understand and agree that Lender will convert to
Unless otherwise by Borrowers,
portions of the Account balance starting with the balances with the highest annual
the Fixed Rate Option,
percentage rates.
Is repaid, such repaid amounts shall be added back to the amount of
As the Fixed Rate Option Principal
rate revolving portion of the Account for Borrowers to draw against prior to
available credit on the-variable
the end of the Draw Period.
OF FIXED RATE OPTION BY BORROWERS. At any time during the Draw Period,
2. TERMINATION
the Fixed Rate Option by providing Lender with written instructions.
Borrowers may choose to terminate balance of
Upon such termination, the outstanding
Such instructions must be signed by all Borrowers,
the vadable rate portion of the Account and will no
the Fixed Rate Option will be added back to revoMng
Agreement
tonger be govemed by the terms of this
Addendum but will be govemed by the terms of the
Finance Charges will accrue at the variable annual percentage rate
that apply to variable laterest rate and
described In the Agreement,
TERMINATION OF FlXED RATE OPTION BY LENDER, If at any time during the term of the Fl×ed
3.
for 91 days or longer or any Borrower flies for bankruptcy,
Rate Option, any payment remains outstanding
the Principal and any accrued, but unpaid
the Fixed Rate Option shall be tenninated and outstanding
Rate Option shall be added back to the Account variable rate revolving
Finance Charges on the Fixed
terms of the Agreement.
Outstanding Balance and shall be govemed by the original
exercise the option to terminate the fixed interest
The annual percentage rate may increase if Borrowers
the Principal to the Outstanding Balance of the Account,
rate payment option and retum
PAYMENTS,Notwithstanding the forgoing order of
4. APPLICATION OF FlXED RATE OPTION
Fixed Rate Option has been pald, unfess otherwise
application of payment, interest due on the
provided
each payment Borrowers make on a specified Fixed Rate
prohibited by the law governing this Addendum,
unpaid Finance Charges, then any applicable unpaid
Option will first reduce the amount of accrued
make payments until Borrowers have paid all of the
charges and then unpaid Principal. Borrowers will
fees charges that be assessed In connection with
Principal and Finance Charges and any other or may
the Fixed Rate Option,
Psyrnent Due required on the periodic statement, such
If Borrowers make less than the Total Minimum
follows: First to Finance Charge due on the Fixed Rate Option
partial payment win be appiled as any
then to the Fixed Rate Option Principal. Any
then to any fees that may be due on the Fixed Rate Option,
will be appiled to the variable rate revoMng portion of the Account Outstanding
remaining amounts
Balance In the order prescribed by the Agreement,
that is applied to the Principal and related Finance
The amount of the Fixed Rate Option payment
payment Is made the billing cycle. if payments are
Charges will differ depending on when the during
before the date a Late Charge is permitted to be charged,
received after the due date, even if received
there
Borrowers owe additional and substantial money at the end of the Fixed Rate Option term and
may
of Principal because Finance Charges continue to accrue on the Principal
may be IIItle or no reduction
until payments are made.
Agreement
674123{Rev 02) 2ø 3 (o3/08)Fled Rats opHonAddendumto PE
.
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have elected to have their minimum monthly payments automatically deducted from thelt
If Borrowers
and Borrowers make additional payments to the Fixed Rate Option, their account Will still be
account
debIted for the entire amount of the minimum monthly payment due,
Additional Pdncipal payments to the Fixed Rate Option may be made at any time but shall not affect the
Borrowers' Fixed Rate Option payments as long as any amount is still
obligation to pay succeeding
on the Fixed Rate Optlan. Additlanal Principal payments must be accompanied by the
outstanding
appropriate coupon provided by Londer,
5. PREPAYMENT. Borrowers may prepay the balance an the Fixed Rate Option at any time without
will be entitled to receive all accrued Finance Charges and other charges, if any.
penalty, except
Leader
of Borrowers Minimum Payment will not relieve Borrowers of the obligation to
Payments In excess
continue to make Minirnum Payments. will reduce the Principal balance as outifned herein.
Instead, they
B. MATURITY DATE, if the term of the Fixed Rate OptIon expires prior to the end of the Account Drew
on he Fixed Rate Option, Borrowers will conllnue to make
Period and Borrowers 8t111owe any amounts
payments on the Fixed Rate Option until the entire balance IS paid In full. Any amounts
monthly
at1he time the Draw Period expires will be added back to the
outstanding on the Fixed Rate Option
Account Balance and will be payable In accordance with the Payment Schedule
revolving Outstanding
provisions of the Agreement.
7, EFFECTNE DATE. This Addendum shall be effective as of the date of the Agreement.
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FILED: NASSAU COUNTY CLERK 03/14/2024 12:31 PM INDEX NO. 601324/2019 NYSCEF DOC. NO. 50 RECEIVED NYSCEF: 03/14/2024 EXHIBIT A FILED: NASSAU COUNTY CLERK 03/14/2024 12:31 PM INDEX NO. 601324/2019 NYSCEF DOC. NO. 50 RECEIVED NYSCEF: 03/14/2024 Account Numlier Wachovia Bank, National Association Prime Line of Credit Agreement & Disclosure Statement Equity index" "LIBOR Rate Date of Agreement: July 15, 2008 . Maximum Credit Llmth g 960D00.00 Borrower($) SYEPHEN ESPOSITO oATHENNE BU)VAN contains the terms which apply to the The Pdma Equity Line of Credit Agreement & Disclosure Statement ("Agreement") Prima Equity Lino Account with Wachovla Bank, National Associa1ion. The words "I "mef and "my/ which also ("Account") mean 'We," "us/ and *our? If more than one Borrower, mean the person or poisons signing thle Agreement, The words "you," "your," and "yourt mean Wachovia Bank, NationeI Associallon CWachovia sank,NN), Advances and Finance Charges, es PROMleli TC PAY, I promise lo pay to Wachovia Bank, NA, the total emount of an expenses for which I am responsible under this Agreement orunder the security Instrument, which wall as all costs and Agreement. if there secures my Account, I agree to make payments an my Account In accordance wilh1he terrns of this this Agreement. This means you are multiple Dorrowers¿each Is jointly and severally Ilable for the total amount due under Advances made to any Sorrower. Each can requiro any Borrower to pay 811emounts due under this Agreement, Including to request and receive Borrower authorizes any other Sorrower, on ble or her signature elona, to cance) the Account, and to do all other things necessary to carry out the terms of this Agreement, You may, but are not required Advances, I this Acreement. If you release any Borrower from responsibility, all to, release any Borrower Irom responsibmty under other Borrowers V4ll remain liable. Issue to me Pdine Equity ACCEBBING THE PRIME EQUITY LINE. Wachovle Bank, N.A. will estabHsh an Account and The Prime Equity Une Checks and Line Checks and If applicable law permits, a Credit Card Access Device ("Card"). amount of the Mexlmum Credit Cord can be used to obtain Advances from my Account durinO the Draw Period,up to the established in this Agreement, I may also request Advances In porSon at any of your authorked locations. I may Limit purchases or I may use my Card at designated ATM locations. if } . also use my Card to receive cash advances, make use the On-Une Banking enroll In your On-Line Banking service and agree to the terms of your On-Una Agreement, I may inclusion m the solvice to Inlilate aledronio fund transfers hom my Account to any deposit account I have doo10notedfor sIso link Wachovla Bank Domand 0cposit Account CDDA") debtt oard ('Debit Card") On-Lina Danking service. I may my Advances obtained under the terms of to access my Account at designated ATMs, WachovIn Bank, NA will charge all Checks will be for the amount of the Prima this Agreement to rny Account. Advances made pursuant to Prime Equity Line Line Check, Advances rnade pursuant 10 the use of a Card wlil be for the amount of the purchase or for the Equity outlet plus any faea charged by the amount of the Advance obleined with the Cerd or the Debit Card at any ATM or other ElectronicPunds Transfer Act, 1 acknowledge and agree ATM owner or merchant. Except for transactions covered by the do not accept responsibl#ty for the that when you act upon telephone instructions that you believe to be genulna, you such telephone losituations. I further acknowledge and agree 1hat you will not be flable for any loss, authenticity of fraudulent or unauthorized telephone expense, or cost Incurred as a result of any telephone request, induding any request such ODA by authorizing you to Ilak those If I have a DDA with you, I may request you to provide overdraft protection for Account as described In this paragraph. Overdraft Advances obtained pursuani to such linking of a ODA accounts to this be mado in increments of $100,00, The overdraft proleotion feature works as follows: If the closing daily account may authorize and request you to make balance of avatlebto funds in the linked OpA account h lass than $0,00, I hereby of $100,00, in an amount sufficient to create a positive balance of Advances lo me under this Account, In Increments to the avaSable Credit Umh of the Account and to all avaHable funds In the DDA (with ouch Advances subject In all events Advance mado to ino under the overdraft protecilon other terms and conditions of the DDA and this Agreement), Each under this Agreement The availabilNy of Advances linked arrangernant will be treated for ell purposes as a loan to me Draw Period expires. I understand and a0tea that I under this Agreement and the Ilnked arrangement will expke When the be charged a fee under the terma and conditions of my DDA opon the occurrence of any overdraft. may other means of oblelning Advances from my Account, as I agree that from time to time Wachovle eank, NA may establish request to receive such now services. I permitted by appilcable law, and that my signature on this Agreement constitutes my reject or refuse such new services at the time they are offered. I understand that all such Advances made using such may servloes willbe govemed by the teñns of this Agreement. you confHcting Instrucilons, such as If thorn 1smore then one person authorized to use the Account we agree not to give one of us tomng you not to honor Advances requested by another, that you supply to me aro your property and must be retumed to you I agreo that any Prime Equity Une Checks of Cerds I Default of this Agreement or rny Advance privaeges are terminated or suspended In . Immediately upon demand If ( am In accordance with the terms of this Agreement, honor requests for Advances in the UMITATIONS ON THE USE OF ACCESS DEVICE$. You resolve the Itght not to Credit Limit hp been or would be excooded by honoring the request; (2) my following citoumstances: (1) my Maximum Checks or Card is reported lost or stolen: (4) my Account Prime Equity Une Checkis post-dated: (3) my Prime Equity Una thIs Agreement If you honored the request: of (6) my has beart or could be, terminated or suspended as provided In post-dated check Is paid, and as a result any other access device la used by someone other than the Borrowers, If a responsible for any losses or damages Ilocuras a resuN. check Is rotumed or not pald, you wm not be FILED: NASSAU COUNTY CLERK 03/14/2024 12:31 PM INDEX NO. 601324/2019 NYSCEF DOC. NO. 50 RECEIVED NYSCEF: 03/14/2024 If you pay any Advance requested under these condlllons, I agree to repay you, subject to appilcablo laws, for the amount of the Advance, The Advance itself wlil be evidence of my debt to you logether with this Agreement, Your Ilability, if any, for wrongful dishonor of an Advance Is Ilmited to my actual damages. Dishonor for any reasons as provided In th a Agreement18 not wrongful dishonot LOST ACCESS DEVICES, If I lose my Pdme Equity Une Checks or Card or If someona IS using them without my permission, I agree to101you know Immedialely, The faslest way to notify you la by colling you at 1.800-240.3859. TRANSACTION REQUREMENTS, The following transaction Ilmilationa will apply to my use of the AccounI: I may make a maximum of six (6) cash transsellons per day from my Account by use of my Card or Debit Card, nol to exceed my avalfable credit halance. These cash transactions inay eithef be Point of Sala (POB") cash transactions, ATM cash Is transadons, or a combination of both. The da#y single transaction IImn amount for PoInt of asle cash transadons transactions Is $9,999.00, with a maximum daily IImit of $59,994.00. The daily single transaction limit for ATM cash $2,600.00, with a maximum daily Ilmit of $15,000,00, Additionally, the number of daily transactions that are allowed rney be limited, but forsecurity reasons this number Is kept confidential. ATM ACCESS LIMITATIONS, Transactions conducted at ATMs ere governed by the Ilmitations of the indMdual ATM owners and may be subject to ATM fees and transactlan Ilmitations Imposed by the ATM owner, LIABILITY FOR UNAUTitORIEED USE, LIablmy for Unauthodzed VISA Credit Card Transactions. I agree to notify you will opt be Immediately If my VISA Card has been lost or stolen or If I believe there are any unauthorized Iranandons, I Ilable for the unauthodzed use of my Card that occurs after I notify you orally or In wr ling of the loss, theft or possible unauthodzed use of my owd. I may inake 1his notice by calling 800-2494869 or by whilog to Wachovia Bank, NA, P.O. Box 663966, Chadotte, NC 20256-3068. My Ilabl)y for me unauthorized use of my Card when it (5 used as a VISA Cradlt Oard to pooose my Account will nol exceed $0.00. You may requhe ine to provide a wthlen statement regardino clairns of unauthorized WSA credit Card Transactions. My liablilty for unauthodzed transactions may oxceed the 40.00 Ilmil If you find that I was grossly negllgent or fraudulent fo my handlino of my Account or my Card. In any case, my Ilatsily for unauthodzed use of my Card for VISA Credit Card Transactions wlil not exceed $50.0D. VISAe )5 a registered trademark of VIBA Intemational, Additional Uablilly, If Iuse an access device to debll my DDA or use my Debit Card to access my Account, or If I inlilate a transaction through the On-Une Banking service, I may be IIablo for additIonal amounIs, as well as the $50.00 potential limBtations and error resolullen Ilability referred to In the proceding paragraph. The detaVs regarding my liability procedures for electronto fund transfer transactions are desodbed In the electronlo funds gransfer disclosure provided to me in conneollonwjlh the opening of my DDA account and/or my enrollment in the On.Una Banldng Service. MAXIMUM CitEiDIT LIMIT. My Maximurn Credit Umit Is indicated above, I agree never lo allow the Outstanding Balance due on my Account to exceed the Maximum Credit Umit. I also agroo that you are not obilgated to pay any Advance of other charge against my Account that would make my Outstanding Balanco exceed my Mexlmum Credit Limit. I agree to established hereunder. Immadlately repay, upon dentend, any Outstanding Balance that exceeds the Maximum Credit Umit be approved in accordance with your Any increases In my Maximum credit Umit I request willrequiro that a new oppiloation then oppiloaDio underwriting standards and I mu$l sl00 any additional agreemenlS 1hat In your oplnlon are neceS$Gryto secure yourInterest, DRAW PERIOD AND REPAYMENT PERIDD. Except as provided heraln and unless terminated earlier 19accordance with the tenna of this Agroomont, I may obtain Advances under the terms of this Agreement for 240 months from j the Data of Agreement ('Draw Perted"). The Repayment Podod begins upon expiredon of the Draw Pedod and the tength of 1110Repayment Pedod wl11depend on Ike outstanding Balance at the end of the Draw Pedod and the amount of iny payments during the Repayment Parlod, oBLloAtloN TO LEND, You are absolulely obligated under the terms of this Agreement to make Advances not to exceed, at any one time in the aggregate, the amount Indloated as the Maximum credit Limll and I agree to repay any Advances under the terms of this Agreement. Your obilgation to make Advances to me under this Agreement ends when the right to obtain Advances terminates at Ihe ond of the Draw Period or when such Advance prMIoges are suspended or larminated In accordance with the tenns of this Agreement. FINANCE CtiARGE ON MY ACCOUNT BALANCE rate will be Imposed If (a) My Account has a monthly billing cyde. A Finance Chargo computed on a monthly peffodlo there Is a balance owing on my Account at the end of any day of the b11ilogcycle. The monthly parlodla rate for an initial Advance, if any, made by me will begin to accrue on the date such Advance Is made. The rnonthly pedodle rate for any Advance other than an Initial Advance will bey1nto accrua on the Transaction Date as indicated on my bliling Statement, If thla Agreement Is Qovemed by Mississippi law, Finance Charges shell not be Imposed on Advances inade through the use of my Card for the purchase of marchandise and services occurring ofter the blillng date on my ourrent Statement If payment In full of the ontire unpaid batence owing for all extensions of credit as shown on my ourrent Statement Is received by you pilor to the next billing date. will figure the Finance Charge on my Account by applying the monthly period10 rate to the "everage dally (b) You balance" balanco* owing on my Account (including current transactions). To calculate the "overage daHy you will take the beGInningbalance of my Account each day, add any new Advances charged to the Accoungpursuant to the terms of thIs Agreement, ond subtract any payments or credits, This gives you the daHy balance. Then, you will add up all the delry balances for the btiling cycle and divide the total by the number of days in the blNIng cycle. This gives you balance." the "average dolly (c) The Finance Charge Imposed during a bllilng cycle will be determined by applying the monthly pedodlo rate that Is 1/12 of the corresponding ANNUAL PERCENTAGE RATE to the average daily balance. The ANNUAL PERCENTAGE RATE and monthly periodio rate are variable rates and are subject to change on the first day of each "Index" the London Inforbank billing cyde, If there was a prior change In the index. TheRates" is the one-month rate of Offered Rates ("LISOR") pubHshed regulady In the 'Money section of the Eastern odltlon of The Wan Street Joumal. movement subalanlially (d) If LISOR becomes unavallable, you will sefact a new Inden which Is based on a histodcal . similar to the original Index ond the new Index and Mnr0ln wlil resull (a an ANNijAL. PERCENTAGE RATE notice of this à subslantially slmliar to the rate la effect at the lime LIBOR becomes unavailable, You vall give me change. 5fma(Rev01) 2 AgramenI FILED: NASSAU COUNTY CLERK 03/14/2024 12:31 PM INDEX NO. 601324/2019 NYSCEF DOC. NO. 50 RECEIVED NYSCEF: 03/14/2024 effective es of the 1st day of the calender month In which I (a) The corresponding ANNUAL PERCENTAGE RATE Is receive my Statement and 18 based on LISOR as published In the Eastom edition of The Wall Streef Joumal on Ihe 25th day of the plior calendar month plus a Margin of 2.ss %. If more than one LIBOR is published on the Is published on the 25th DO NOT SIGN CAUTION - IT IS IMPORTANT THAT I READ ALL PAGES OF WIIS THIS AGREEMENT IP IT CONTAINS ANY BLANK SPACES Agrooment. oa abo tenns an acknowledge that I received a completed copy of this Dy signing below, 1 EN ESPOSITQ A Borrower sorrower I FOR OFFICE USE ONLY Endomement. Pay to the Order of . Without Recourse Waohovia Bank, National Assoolation By Name: FILED: NASSAU COUNTY CLERK 03/14/2024 12:31 PM INDEX NO. 601324/2019 NYSCEF DOC. NO. 50 RECEIVED NYSCEF: 03/14/2024 MY BILLING RIGHTS I SHOULD KEEP THIS NOTICE FOR FUTURE USE This notice contains Important informallort about my rights and your responsibilities under the Falt Credlt Billing Act. I SHOULD NOTIFY YOU IN CASE OF ERRORS OR QUESTIONS ABOUT MY STATEMENT. If I think Iny Statement Is wrong, or If I need more infognation about a transactlan on my Statement, ( should wilte you on a separate sheet at the address listed on my Statement I should write you as soon as possible. You must hear from me no later than 60 days after you sent me the first statement on which the error or problem appeared. I can telephone you, but doing so wlil not preserve my rights. In my leiter, I must give you the following Infonnation: * My full name and Pdme EquKy Line Account Number, " The doHaramount of the suspected error, . I must describe the error and explain, If I can, why I believe there is an error. If I need more Information, I should descdbe the Item I am not sure about. MY RIGHTS AND YOUR RESPONSIBILITIES AFTER YOU RECEIVE MY WRITTEN NOTICE. You must acknowledge my letter within 30 days, unless you have corrected the error by then. Wrthln 90 days, you must either correct the error or explain why you belleva the Statement was correct, After you receive my letter, you cannot try to coUectany amount I question, or report me as definquent. You can continue to bill me for the amount I question, Including Finance Charges, and you can apply any unpaid arnount against my credNtimit. I do not have to pay any questioned amount while you are Inves|lgating, but I am still obilgated to pay the ports of my Statement that are not in question. If you find that you made a mistake on rny StatementJ will not have to pay any Finance Charges related to any questioned amount. If you didnt make a mistake, I may have to pay Finance Charges, and Iwill have to make up any missed payments on the questioned amount In either case, you will send me a Statement of the amount I owo and the date that It Is due. If I fall to pay the amount that you think L owe, you may report me as delinquent. However, If your explanation does not to pay, you must tell anyone you report me to that I sailsfy me and I wnte to you within 10 days telling you that I stlHinfuse have a question about my Statement. And, you must te[I me the name of anyone you reported me to. You must tell anyone you report me to that the matter has been settled between us when It finally le. If you don't fo1Iowthese rules, you cani collect the fkst $60 of the questioned amount, even If my Statement was correct. SPECIAL RULE FOR OREDIT CARD PURCHASES If I have a problern with the quality of property or services purchased with a credit card, and I have tried In good faith to correct the problem with the merchant, I may have the right not to pay the remelning amount due on the property or services. There are two IImitations on this IIght: miles of my current (a) I must have made the purchase in my home state or, If not within my home state within 100 maIIIng address; and dorft own or operate (b) The purchase price must have been more than $50,00. These limilaUons do not apply If you the merchant or If you molted me the advertisement of the property or services. B72210 (Revon 6 Muh@SIMs (06m0) PMAgaament PAoMDoR FILED: NASSAU COUNTY CLERK 03/14/2024 12:31 PM INDEX NO. 601324/2019 NYSCEF DOC. NO. 50 RECEIVED NYSCEF: 03/14/2024 ADDENDUM TO PRIME EQUITY LINE, OF CREDIT AGREEMENT AND DISCLOSURE STATEMENT FlXED RATE OPTION and Disclosure Statement ("Addendum") Is This Addendu to me Equity Line of Credit Agreement dated as of 0 /15/ and is effective as of the date specified below and is Incorporated to amend and supplement that Prime Equity Line of Credit Agreement and Into and shall be deemed that evidences the indebtedness of the undersigned ("Borrowers') to Disclosure Statement ("Agreement") National Association or Wachovia Bank of Delaware, National Assoolation ("Londer), Wachovia Bank, Capitalized that are not defined tenns here shall have the same meaning glyen to them in the Agreement. Charges" refers to the Finance Charges associated with the The term "FInance as used in this Addendum Principal of the Fixed Rate Option. covenants and conditions stated herein and In the Agreement and for in consideration of the promises, receipt of which is acknowledged, Borrowers agree as follows: other good and valuable consideration, 1, RATE INTEREST FlXED PAYMENT OPTION. Borrowers have the option to convert the Interest rate specified portion of the Account Outstanding Balance from the variable rate described in the on all of a Agreement to a fixed interest rate and temn as described hereIn. Borrowers exerciseof the Fixed Rate Option is subject to Lenders written consent. During the Draw Borrowers can convert all or a specified portion of the Period at any time after (he first bliling cycle, 13alence to a fixed Interest rate ("Flxed Interest Rate'). The amount of any such Account Outstanding be no less than Five Thousand Dollars ($5,000). The term of the Fixed Rate Option conversion must of the Draw Period, NOTE: The must he for at least five (5) years and may not exceed the maturity date available Primo Line of Credit Account with less than five (5) years Fixed Rate Option Is not for any Equity remalning In the Drew Period, at any time during the Draw Peded. The Borrowers may only have one Fixed Rate Option outstanding converted to the Fixed Rate Option Is referred to herein as 'Principal". Borrowers speolfled emount understand and agree that no further amounts can be added to the Principal amount of the Fixed Rate Option. at any one }n addition to the limitation that Borrower may only have one Fixed Rate Option outstanding Fixed Rate Option no more than three (3) times during any given twelve time, Borrower may Initiate a period. At the time Bonower requests a Fixed Rate Option Londer will look back over the month how many Fixed Rate Options Borrower has taken during that preceding twelve (12) months to determine Rate Option Initiations that period is less than three (3), Bonower period. If the number of FIxed during will be eligible to take another Fixed Rate Option. Borrowers must notify Lender at 600-815-1722 to exercise this Fixed Rate Option. Any such exercise until Lender has received a signed Notice of Change in Terms and ModificaUon to shall not be effective Line of Credit Agreement & Disclosure Statement executed by all Borrowers on the Prime Equity Account. the Fixed APR and term at the time Borrowers request the conversion of a Lender shall establish Account Balanco to the Fixed Rate Option based upon the term and speolfled portion of the Qutstanding available for a comparable Home Equity Loan offered by Lender at the tIme based upon a like toan to rate value ratio or upon a rate and term otherwise agreed to. Finance Charges will be calculated on the Fixed A complete disclosure of the terms and conditions goveming the Fixed Rate Rate Option Principal, Option will be provided to Borrowers In the form of a Modification Agreement/Notice of Change in Terms at the time the Fixed Rate Option Is established. I SN123 (Nov02) t or3 (03/05)f%ed R option AddendumioPEL Agreement FILED: NASSAU COUNTY CLERK 03/14/2024 12:31 PM INDEX NO. 601324/2019 NYSCEF DOC. NO. 50 RECEIVED NYSCEF: 03/14/2024 Balance" Charge on My Account section that address and deal with the The subsections of the "Finance In variable rate revolving portion of the Account Balance shall not apply to the Fixed Rate Option, Une" the Prime and addition, the Principal will not be subject to or govemed by the "Accessing Equity Schedule" except as provided In this Addendum. lastead, Lender "Payment sections of the Agreement Fixed Rate Option by amortizing the Principal and will calculate the fixed minimum payment due on the for the Fixed Rate Option and determine the payment related Finance Charges over the term selected to pay off the balance In futi on the Principal and related Finance Charges amount that would be required payments over the term of the Fixed Rate Option at the Fixed APR. In substantially equal monthly Payment Due on the Account each month will be the sum of the fixed Therefore, the Total Minimum plus the minimum payment amount for the variable rate payment amount for the Fixed Rate option the formula set forth in the Payment Schedule section balance of the Account calculated using revolving of the Agreement. Instructed Borrowers understand and agree that Lender will convert to Unless otherwise by Borrowers, portions of the Account balance starting with the balances with the highest annual the Fixed Rate Option, percentage rates. Is repaid, such repaid amounts shall be added back to the amount of As the Fixed Rate Option Principal rate revolving portion of the Account for Borrowers to draw against prior to available credit on the-variable the end of the Draw Period. OF FIXED RATE OPTION BY BORROWERS. At any time during the Draw Period, 2. TERMINATION the Fixed Rate Option by providing Lender with written instructions. Borrowers may choose to terminate balance of Upon such termination, the outstanding Such instructions must be signed by all Borrowers, the vadable rate portion of the Account and will no the Fixed Rate Option will be added back to revoMng Agreement tonger be govemed by the terms of this Addendum but will be govemed by the terms of the Finance Charges will accrue at the variable annual percentage rate that apply to variable laterest rate and described In the Agreement, TERMINATION OF FlXED RATE OPTION BY LENDER, If at any time during the term of the Fl×ed 3. for 91 days or longer or any Borrower flies for bankruptcy, Rate Option, any payment remains outstanding the Principal and any accrued, but unpaid the Fixed Rate Option shall be tenninated and outstanding Rate Option shall be added back to the Account variable rate revolving Finance Charges on the Fixed terms of the Agreement. Outstanding Balance and shall be govemed by the original exercise the option to terminate the fixed interest The annual percentage rate may increase if Borrowers the Principal to the Outstanding Balance of the Account, rate payment option and retum PAYMENTS,Notwithstanding the forgoing order of 4. APPLICATION OF FlXED RATE OPTION Fixed Rate Option has been pald, unfess otherwise application of payment, interest due on the provided each payment Borrowers make on a specified Fixed Rate prohibited by the law governing this Addendum, unpaid Finance Charges, then any applicable unpaid Option will first reduce the amount of accrued make payments until Borrowers have paid all of the charges and then unpaid Principal. Borrowers will fees charges that be assessed In connection with Principal and Finance Charges and any other or may the Fixed Rate Option, Psyrnent Due required on the periodic statement, such If Borrowers make less than the Total Minimum follows: First to Finance Charge due on the Fixed Rate Option partial payment win be appiled as any then to the Fixed Rate Option Principal. Any then to any fees that may be due on the Fixed Rate Option, will be appiled to the variable rate revoMng portion of the Account Outstanding remaining amounts Balance In the order prescribed by the Agreement, that is applied to the Principal and related Finance The amount of the Fixed Rate Option payment payment Is made the billing cycle. if payments are Charges will differ depending on when the during before the date a Late Charge is permitted to be charged, received after the due date, even if received there Borrowers owe additional and substantial money at the end of the Fixed Rate Option term and may of Principal because Finance Charges continue to accrue on the Principal may be IIItle or no reduction until payments are made. Agreement 674123{Rev 02) 2ø 3 (o3/08)Fled Rats opHonAddendumto PE . FILED: NASSAU COUNTY CLERK 03/14/2024 12:31 PM INDEX NO. 601324/2019 NYSCEF DOC. NO. 50 RECEIVED NYSCEF: 03/14/2024 have elected to have their minimum monthly payments automatically deducted from thelt If Borrowers and Borrowers make additional payments to the Fixed Rate Option, their account Will still be account debIted for the entire amount of the minimum monthly payment due, Additional Pdncipal payments to the Fixed Rate Option may be made at any time but shall not affect the Borrowers' Fixed Rate Option payments as long as any amount is still obligation to pay succeeding on the Fixed Rate Optlan. Additlanal Principal payments must be accompanied by the outstanding appropriate coupon provided by Londer, 5. PREPAYMENT. Borrowers may prepay the balance an the Fixed Rate Option at any time without will be entitled to receive all accrued Finance Charges and other charges, if any. penalty, except Leader of Borrowers Minimum Payment will not relieve Borrowers of the obligation to Payments In excess continue to make Minirnum Payments. will reduce the Principal balance as outifned herein. Instead, they B. MATURITY DATE, if the term of the Fixed Rate OptIon expires prior to the end of the Account Drew on he Fixed Rate Option, Borrowers will conllnue to make Period and Borrowers 8t111owe any amounts payments on the Fixed Rate Option until the entire balance IS paid In full. Any amounts monthly at1he time the Draw Period expires will be added back to the outstanding on the Fixed Rate Option Account Balance and will be payable In accordance with the Payment Schedule revolving Outstanding provisions of the Agreement. 7, EFFECTNE DATE. This Addendum shall be effective as of the date of the Agreement.