E
EQUITY LIN
NE OF CRE
EDIT AGRE
EEMENT
A
AND DISCL
LOSURE ST
TATEMENT
LINE SECURED
D BY DEED OF
F TRUST (EQU
UITY LINE VIS
SA)
BO
ORROWER’S NAME
ACCOUNT NUMBER
DATE OF AGREEME
ENT
Jane Doe (SAMPLE DATA)
XXXXXX1234-75
5 (SAMPLE DATA)
CO-BORROWER’S NAME (IF APPLICABLE)
CREDIT LIMIT
John Doe (SAMPLE DATA)
$50,000 (SAMPLE DATA)
D
10/24/2011 (SAAMPLE DATA)
DRAW PERIOD:
10
0 Years After Date
e of Loan (SAMPLE DA
ATA)
FINAL DATE TO REQ
QUEST ADVANCES:
10//24/2021 (SAMPLE DATA)
D
IN
NITIAL ADVANCE
MINIMUM SUBSEQUEN
NT ADVANCE
FINAL DUE DATE
$
$0.00 (SAMPLE DATA)
$0.00 (SAMPLE DATA)
11/18/2031 (SAAMPLE DATA)
N
NOTE: The data in
ncluded within this
s Agreement reprresents a sample for interest-only payments on a 70
0% combined loa
an-to-value agreem
ment and is curre
ent
ass of January 2016
6 and subject to change.
c
This may not reflect the specific terms of yo ur loan. Please co
ontact us for more
e information by vvisiting sdccu.com
m,
byy visiting any of our convenient bra
anch locations or by
b calling (877) 73
32-2848.
DE
EFINITIONS: This Agreement goverrns your San Dieg
go County Credit Union
U
(SDCCU®) Equity Line of Cre
redit Plan (“Account”). The words “yyou” and “your” mean
eacch person (individually or jointly if more
m
than one) wh
ho signs below. The words “we”, “u
us" or "our" mean San Diego County Credit Union. Y
You will be jointly and
sevverally bound by the terms and conditions of this Agrreement from the time you sign belo
ow.
NA
ATURE OF YOUR
R ACCOUNT: You
ur account is an open-end revolving
g line of credit. Th
his means that you
u may request an advance of all orr a part of your line of
cre
edit at any time. By repaying any am
mount advanced, that amount beco
omes available to you after your pa
ayment is credited
d to your account balance as you need
it unless (a) an Even
nt of Default has occurred;
o
(b) we exercise
e
our right to
t cancel or restricct use of the Equiity Line of Credit P
Program; or (c) yo
ou exercise your right
r
to ccancel your accou
unt.
PR
ROMISE TO PAY
Y: For value received, you promise
e to pay accordin
ng to the terms o
of this Agreemen
nt any and all ad
dvances outstandiing plus any finance
cha
arge(s) and other fees which may be
b assessed on yo
our account, including reasonable a
attorney's fees an d court costs.
SECURITY: All adva
ances under this Agreement
A
are secured by a Deed of Trust on your rreal property locatted at:
123
34 Any Street, An
ny Town, CA 123
345 (SAMPLE DATA)
In a
addition to the protections given to
o SDCCU under this
t
Agreement, the Deed of Trustt protects SDCCU
U from possible lo
osses which migh
ht result if you do not
kee
ep the promises that you make in
n this Agreement. Not withstandin
ng the language ccontained in othe
er security agreem
ments, the obliga
ations hereunder are
seccured by this Deed
d of Trust. You he
ereby authorize us
s upon default to apply
a
any and all paid shares, paym
ment on shares orr deposits and earnings on shares and
dep
posits (except IRA
A and KEOGH) to the payment off said loan, intere
est or late charge
es, costs or expen
nses including rea
asonable attorneyy' s fees at any time
sub
bsequent to defau
ult.
CR
REDIT LIMIT: A crredit limit has bee
en set on your acc
count and is show
wn above. You ag
gree not to allow tthe amount that yyou owe us at anyy one time to exceed
you
ur approved creditt limit.
OV
VER CREDIT LIMIT FEE: $10 for any
a month the bala
ance of your acco
ount on the statem
ment date exceedss the credit limit b
by $500 or 20% off your approved limit,
whichever is less. Iff you exceed the approved accoun
nt credit limit you
u will be required to pay the minim
mum payment due
e on the accountt, plus the amoun
nt in
exccess of your appro
oved credit limit.
INS
SURANCE: You agree
a
to obtain fire, and if required
d, flood insurance
e on the real prop
perty. You will prrovide us with cop
pies of the insura
ance policies that will
nam
me SDCCU as mo
ortgagee and be in an amount and in a form accepta
able to us. If you fa
fail to provide us w
with proof of insura
ance we may obta
ain it and add its cost
c
to yyour account, which you agree to pay
p for. The cost will
w be added to the principal balancce and will accrue
e finance charges.
AN
NNUAL FEE: Your account will be charged an annu
ual Membership Fee of $50. The a nnual Membershiip Fee will be asssessed on the ann
niversary date of this
loa
an. This annual fee is not imposed in connection witth any specific exttension of credit b
but is a charge fo
or having this acccount. If there is n
no credit balance, the
enttire fee will be due
e and payable on the next regularly
y scheduled paym
ment date. The ann
nual Membership Fee will be non-rrefundable and yo
ou shall owe it onc
ce it
is p
posted to your acc
count, even if your account is subse
equently changed
d, suspended or te
erminated for any reason. (Currenttly Waived.)
FIN
NANCE CHARGE
E: (a) All loans or other advances frrom your account except finance ch
harge(s) and late charges are subjject to finance cha
arge(s) from the date
d
add
ded to your accou
unt until paid. Fina
ance charge(s) will
w be due and pay
yable before and after any breach of this Agreemen
nt. We figure the finance charge(s)) on
you
ur account by app
plying the daily pe
eriodic rate to the daily balance of your
y
account each
h day and each o
of these figures is added together tto determine the total
fina
ance charge; (b) The
T balance used
d to compute the finance
f
charge(s) is the balance in the account each
h day after payme
ents and credits h
have been subtrac
cted
and
d new advances or
o other debits ha
ave been added to
o the account; (c)) The daily period
dic rate is the app
plicable Annual Pe
ercentage Rate (A
APR) divided by 365.
3
The
e APR does not in
nclude costs and fees, only interest. The APR for ea
ach billing period w
will be based on tthe highest printed
d Prime Rate of in
nterest in the "Money
Rates" column of the West Coast Ed
dition of the Wall Street
S
Journal pu
ublished on the 15
5th of each month
h or the next business day. We will add 0.750% to this
Prim
me Rate to get th
he APR from whic
ch the daily period
dic rate for the ne
ext billing period o
on your account iis derived. Chang
ges in the APR wiill be effective on the
nexxt business day fo
ollowing the cycle date. The effect of an increase in the Prime Rate w
will be an increase
e in the finance ch
harge. If Prime Ra
ate is discontinued
d or
beccomes unavailable for any reason, we will select a comparable index
x and margin and
d notify you of the
e index and marg
gin selected; (d) A
As of 10/24/2011, the
corrresponding APR for your account would be 4.000%
%. The minimum APR over the life
e of the loan is 4
4.000%. The maxiimum APR over tthe life of the loan is
10..000%.
INT
TRODUCTORY RATE:
R
We may offfer a discounted rate
r
for an introdu
uctory period of tim
me. The discounte
ed rate will be in effect through the
e appropriate num
mber
of billing cycles following the openin
ng of your accou
unt. Thereafter, th
he balance will cconvert to the pre
evailing variable rate then in effect at the end of the
intrroductory period.
If this box is ch
hecked, notwithsta
anding the above, the initial Daily P
Periodic Rate used
d to compute the finance charge is 0.008191780% (that
is a
an APR of 2.990%
%). Immediately fo
ollowing the twelv
ve (12) month ann
niversary of the O
Open Date of Agre
eement defined a
above and will be effective on the next
n
bussiness day following the cycle date (each "Interest Rate Change Date""), your rate may cchange as set forrth above.
CH
HANGE OF ADDR
RESS: You agree to notify us promp
ptly in writing of a change in your re
esidence or mailin
ng address.
CR
REDIT INFORMAT
TION: We may re-examine and re-e
evaluate your cred
dit worthiness at a
any time. You autthorize us to receiive information fro
om others concern
ning
you
u and/or your accounts and you ag
gree to submit currrent financial info
ormation to us if w
we request it. We may report our experience with yo
ou to others includ
ding
oth
her financial institu
utions and credit bureaus.
b
WA
AIVERS: We can waive or decline to
t enforce any of our
o rights under th
his Agreement at any time without losing them.
PA
AYMENTS: The monthly
m
payment is either 1% of the outstanding principal loan ba
alance or outstan
nding finance cha
arge or a minimu
um payment of $100
whichever is greaterr as chosen below
w unless the amou
unt you owe us is less, in which casse that will be the
e minimum payme
ent. The monthly sstatement sent to you
willl show the amoun
nt of the next paym
ment, current interrest rate, principal loan balance and
d periodic rate.
Page 1 of 4
RE
EV. 01.19.16 HELOC70%C
CLTV
E
EQUITY LIN
NE OF CRE
EDIT AGRE
EEMENT
A
AND DISCL
LOSURE ST
TATEMENT
LINE SECURED
D BY DEED OF
F TRUST (EQU
UITY LINE VIS
SA)
PA
AYMENT SCHEDU
ULE:
Principa
al and Interest Pa
ayments. Principal and interest payyments shall be d
due monthly base
ed on 1% of the outstanding princ
cipal
balance or $100, wh
hichever is greate
er. Any payment that
t
delays or acc
celerates the redu
uction of the loan balance will incrrease or decrease
e the finance charge.
Min
nimum monthly pa
ayments will not repay
r
the outstand
ding balance of yo
our loan by the m
maturity date. Unle
ess sooner repaid
d, all remaining su
ums shall be due and
payyable in full in a single "balloon pay
yment" on the matturity date. At leas
st 90 but not more
e than 150 days p
prior to maturity off a balloon payme
ent loan, we will send
you
u a notice which states
s
among othe
er things, the matu
urity date, the bala
ance due at matu
urity (assuming alll scheduled payments between nottification and matu
urity
havve been made) an
nd whether and un
nder what conditio
ons we will refinan
nce the loan.
Interest Only Pay
yments. Interest only
o
payments wiill be due monthly
y and will equal th
es that accrued o
on the outstanding
g balance during the
he finance charge
pre
eceding month or $100, whichever is greater. Intere
est only payments
s will not repay the
e outstanding ballance of your loan
n by the maturity date. Unless soo
oner
rep
paid, all remaining
g sums shall be due
d and payable in
i full in a single “balloon paymentt” on the maturityy date. At least 90
0 but not more th
han 150 days prio
or to
ma
aturity of a Balloon
n Payment Loan, we will send you
u a notice which states,
s
among oth
her things, the maturity date, the b
balance due at m
maturity (assuming
g all
sch
heduled payments
s between notifica
ation and maturity have been made), and whether an
nd under what con
nditions we will reffinance the loan.
Saiid payments, either principal and interest or interes
st only payments shall be payable at our branch offfices in San Dieg
go, Riverside and Orange counties
s, or
succh other place as we may designatte on the 27th of each
e
month (due date)
d
beginning o n the 27th of the m
month following your initial advance
e. You have the right
to repay at any time
e any unpaid prin
ncipal, accrued interest and other amounts due. Alll monies repaid w
will be applied firsst to collection co
osts then to any late
cha
arges, the finance
e charge owing, th
hen to payments in
n default prior to posting
p
currently d
due payments. Up
pon default in payyment of any insta
allment when due, the
enttire outstanding principal
p
balance, all accrued interrest and late charges shall becom
me immediately d ue and payable at our option, or our successors and
asssigns, with no obligation to declare default. Principal and interest shall be payable in law
wful money of the United States. If under this Agreem
ment you fail to make
a p
payment when du
ue you promise to
o pay in addition to principal and interest all costs of collection and
d reasonable atto
orney's fees incurrred by us hereoff on
acccount of such colle
ection whether or not suit is filed he
ereon. This Note is secured by a De
eed of Trust to Sa
an Diego County C
Credit Union, date
ed 10/24/2011, wh
hich
enu
umerates certain real property in Sa
an Diego County, California; the te
erms of which are incorporated here
ein by this referen
nce for determining our rights or tha
at of
ourr successors to ac
cceleration of the indebtedness of this
t
Agreement an
nd as to all other rights we have un
nder the Deed of Trust. Periodic pa
ayments are required
on the agreed due dates
d
as long as any
a balance is ou
utstanding. Any pa
artial prepayment of the loan will n
not delay the next payment due datte. Any payment that
delays or accelerate
es the reduction of
o the loan balanc
ce will increase or
o decrease the fi nance charge. An
ny prepayment off the loan will be applied in the sa
ame
ma
anner as a schedu
uled payment, unle
ess requested by you to be a princiipal only paymentt.
THIS LOAN IS PAY
YABLE IN FULL AT THE END OF
F 20 YEARS. YO
OU MUST REPAY
Y THE ENTIRE P
PRINCIPAL BALA
ANCE OF THE L
LOAN AND UNPA
AID
INT
TEREST THEN DUE.
LA
ATE CHARGES: If you fail to make
e any payment witthin ten (10) days
s after such paym
ment was due, a la
ate charge shall b
be immediately du
ue and payable. You
Y
agrree that if for any reason you fail to
o pay any such amounts
a
due unde
er this Agreementt, we shall be enttitled to damages for the detrimentt caused thereby, but
tha
at it is extremely difficult
d
and impra
actical to ascertain
n the extent of su
uch damages. Yo
ou therefore agree
e that a sum equal to six percent (6%) of any monthly
installment not receiived by us within ten (10) days afte
er the installmentt was due with a minimum of $10, is a reasonable estimate of the da
amages to us, wh
hich
succh amount you ag
gree to pay on dem
mand.
SA
ALE OF PROPER
RTY: Sale of the real property will be a default und
der the terms of this Agreement a
and the Deed of Trust. This defau
ult will terminate our
obligation to make advances hereunder and cause the entire outstanding
g balance to be im
mmediately due a nd payable.
EV
VENT OF DEFAULT: An event of default
d
shall inclu
ude, but not be lim
mited to the follow
wing: failure to m
make any payment when due; failure to give immediate
nottice of any loss, th
heft or unauthoriz
zed use of any cre
edit card or draft issued hereunderr; filing a bankrup
ptcy proceeding o
or insolvency procceeding by or against
you
u; you breach any
y other covenant of
o this Agreement;; you breach a cov
venant contained in the Deed of Trrust; you further encumber the real property or allow the
rea
al property to be subjected
s
to a lien
n or encumbrance
e junior to the Dee
ed of Trust securin
ng your obligation
ns hereunder; if w
we reasonably dee
em the debt insec
cure
or unsafe; on the sa
ale of the real prroperty described in this Agreement; you die; there
e is a material de
ecline in your fina
ancial condition a
as determined by us;
req
questing an advan
nce through use of this account in any
a manner or am
mount or by meanss not authorized b
by us hereunder a
and/or you omitted
d material information
in yyour credit application or made an
ny false or mislead
ding statement in
n your credit state
ement. Upon defa
ault, as defined ab
bove, all unpaid b
balance(s) under this
Agrreement together with all late paym
ment charges and interest due beco
omes immediatelyy due and payabl e without notice a
at our option or ou
ur successors option.
Upon the sale of the
e real property des
scribed in this Agrreement you shall be jointly and/or severally responssible for any deficiiency judgment in
n accordance with the
law
ws of the State of California. Our fa
ailure or refusal to
o enforce at any time the conditionss of this Agreeme
ent or Deed of Tru
ust in connection herewith is not to
o be
con
nstrued as a waive
er of rights to asse
ert the breach of the
t term or condittion in any action o
or dispute betwee
en you and us.
RE
ETURN ITEM CHA
ARGE: We will ch
harge and you willl pay a Return Item Charge any tim
me your check or other instrument is returned to SDCCU. We will cha
arge
and
d you will pay a Non-Sufficient Fu
unds Charge any
y time a check or
o other instrumen
nt is returned by SDCCU for anyy reason. For currrent fee and cha
arge
info
ormation look for our
o Consumer Se
ervices Fee Sched
dule online at sdcc
cu.com, call us at (877) 732-2848 o
or visit any of our cconvenient branch locations.
STOPPING PAYME
ENT: SDCCU’s rules for stopping pa
ayment on checks
s or deposit accou
unts apply to stop ping payment on equity line checkss.
RE
ECONVEYANCE: We, or our succe
essor assigned, sh
hall have the right to charge a reco
onveyance fee up
pon the payment o
of all sums due in
n this Agreement and
upo
on request for rec
conveyance by the
e person(s) or entity entitled to the real
r
property desccribed in the Deed
d of Trust referencced herein.
CO
OST OF COLLEC
CTION: You agree
e to pay all collec
ction costs, including court costs, a
attorney fees and charges incurred
d in securing retu
urn of unused che
ecks
and
d/or your Visa® ca
ard(s). We may billl these costs to yo
our account.
TERMINATION/ACC
CELERATION: Upon an event of default as defined above or upon th e following determ
minations made by SDCCU, we sha
all terminate the right
to ffurther advances with written notice to you. Said terrmination shall no
ot affect your dutyy to repay all sum
ms still owed to uss. Adverse re-eva
aluation of your credit
worthiness or failure
e by you to satisffy the terms of th
he Agreement; orr falsification of lo
oan application orr update; or reduction in appraised value of collate
eral.
SD
DCCU can suspen
nd the Plan and reduce your cred
dit limit if: any of the events descrribed in "Event off Default" occur; or the value of the property declines
significantly below th
he appraised value used to establis
sh this Plan; or we
e reasonably belie
eve you will be un
nable to repay the
e money owed und
der the Plan due to
t a
ma
aterial change in your
y
financial circu
umstances; or you
u fail to keep or perform
p
any materrial obligation und
der this Plan or th
he Deed of Trust ssecuring this Plan
n; or
govvernmental action
n prevents us from
m charging the annual
a
percentage
e rate called for b
by this Plan or im
mpairs our securiity interest such tthat the value of our
seccurity is less than 120% of the Cred
dit Limit; or we are
e notified by the governmental
g
age
ency responsible ffor supervising our operations that ffuture advances may
m
con
nstitute an unsafe
e or unsound prac
ctice; or the annual percentage ratte due under the Plan reaches the
e maximum permitted under this Ag
greement; or anyone
borrrower on this Plan requests that further advances no
ot be made; or your membership iss terminated.
AC
CCELERATION UPON ALIENATIO
ON: In the event of sale, transfer, co
onveyance or alie
enation of said rea
al property, (given as security for the performance of the
term
ms of this Agreem
ment by you in tha
at Deed of Trust which
w
you execute
ed concurrently w
with this Agreemen
nt), or any part th
hereof, or any inte
erest therein, whetther
voluntary or involunttary or by operatio
on of law, we shalll have the right off acceleration at o
our option to decla
are the note irresp
pective of the matturity date expressed
herrein and without demand or notice
e immediately du
ue and payable. No
N waiver of thiss right shall be e
effective unless in
n writing. Consent by us to one such
tran
nsaction shall not constitute a waiver of the right to require such conse
ent to succeeding
g transactions.
Page 2 of 4
RE
EV. 01.19.16 HELOC70%C
CLTV
E
EQUITY LIN
NE OF CRE
EDIT AGRE
EEMENT
A
AND DISCL
LOSURE ST
TATEMENT
LINE SECURED
D BY DEED OF
F TRUST (EQU
UITY LINE VIS
SA)
CA
ANCELLATION BY
Y SDCCU: We may
m cancel or susp
pend the use of yo
our account, as lo
ong as we send yo
ou written notice b
before cancellatio
on becomes effecttive.
In tthe event of cance
ellation, the outsta
anding balance wiill be payable acco
ording to the term
ms of this Agreeme
ent.
CA
ANCELLATION BY YOU: You may
y cancel this Agre
eement by written notice to SDCCU
U. The notice musst include your acccount number, all unused checks that
havve been issued to
o you and any Visa cards issued in connection with
h this Agreementt. Cancellation wi ll be effective on receipt of all che
ecks and any cha
arge
ma
ade on your Visa card(s).
c
At the time
e of cancellation, the outstanding balance
b
will be payyable according to
o the term of this Agreement.
NO
OTICE: As require
ed herein, notice to
o SDCCU shall be
e sent to the addrress shown on yo ur latest monthly statement, to be e
effective when recceived. Notice to you
sha
all be sent to you at your address in
n our records to be
e effective when deposited
d
in the U
U.S. mail, postage
e prepaid unless o
otherwise stated in
n the notice.
AD
DVANCES: Advan
nces are obligatorry and shall includ
de but not be limitted to (i) any cha rges or advancess made or caused
d to be made as a result of use of any
loa
an check, automatic teller machine
e (ATM) or any other such device, instrument or m
method where succh charge or advvance(s) is in exccess of any availa
able
balance on deposit (overdrafts);
(
and (ii)
( any charges orr advances made or caused to be m
made as a result o
of use of any check, card, loan, dra
aft, ATM or any otther
succh device, instrum
ment or method (“credit
(
card adva
ances"), and (iii) any
a charge or ad
dvance Borrowerss initiate via phon
ne, personal com
mputer or any rem
mote
acccess device with the
t resulting proc
ceeds deposited to
o the borrowers share
s
account, ch
hecking account o
or any other SDCC
CU account you m
may have. Each joint
borrrower has the power to request an
nd receive advanc
ces and each agre
ees to be obligated
d for it. Each jointt borrower shall be
e held jointly and//or severally liable
e for
all payments due in accordance with the
t terms of this note.
n
AC
CCESS: You may access your Acc
count by cash adv
vance, check, Vis
sa credit card, tele
ephone banking, mobile banking a
and/or Internet Bra
anch online banking.
The
e funds can be ma
ailed to you or deposited into your account
a
with us.
CH
HECK ACCESS: For
F the check access feature of your
y
Equity Line of
o Credit Agreeme
ent, you authorize
e SDCCU to pay all checks signed only by authorized
use
ers of this account and to charge an
ny payments to yo
our Equity Line off Credit. Any paym
ment made by us sshall be valid and
d you discharge uss from any liability
y for
succh payment. In ad
ddition, you agree to the following conditions
c
for che
eck access: only b
blank checks and other methods ap
pproved by us ma
ay be used to acc
cess
fun
nds from this acco
ount; we are unde
er no obligation to pay a check morre than six monthss old; we are not liable for any actiion that is taken rregarding paymen
nt or
non
n-payment of any
y check; we are under no obligation to hold a post dated
d
check and further, we reserrve the right to prrocess every checck as presented as
a if
datted the same day as received by us
s; we are under no obligation to pa
ay any check whicch, if paid, would rresult in your exce
eeding the established line of creditt. In
add
dition, we are auth
horized to assess
s any service charrges for the special handling of succh an item in acco
ordance with the sschedule of fees adopted from time
e to
time by us; the use of
o check access to
t your line of cred
dit is subject to an
ny additional term
ms, conditions and
d requirements tha
at we may establiish from time to time;
u may stop payment on a check in
n the same mann
ner you stop paym
ment on any otherr check; we will n
not certify checks; notify us immed
diately at the num
mber
you
sho
own on your montthly statement if any checks are los
st or stolen; and we
w will not return yyour canceled che
ecks to you, but we
e will retain photo
ocopies. You agree to
exa
amine your month
hly statement prom
mptly in order to id
dentify improperly or unauthorized ttransactions.
VIS
SA CARD ACCES
SS: Visa card acc
cess to your line of
o credit may be done through a cre
edit card specifica
ally issued for the purpose of this line of credit. The use
of ssuch card shall be
e governed by this
s Agreement and a separate ATM Agreement
A
whose
e terms are herebyy incorporated byy reference herein.
TELEPHONE BANK
KING: Telephone banking access may be made to your line of cred
dit through the tellephone banking audio response p
program in the sa
ame
ma
anner as any other account which may
m be accessed through
t
that progrram.
INT
TERNET: Internett access may be made
m
to your line of credit through the Internet Bran
nch online banking
g and/or mobile b
banking programs in the same man
nner
as any other accoun
nt which may be ac
ccessed through that
t
program.
SEVERABILITY: If any
a provision of th
his Agreement is held to be unenfo
orceable, such dettermination shall not affect the validity of the remain
ning provisions of this
Agrreement.
JO
OINT ACCOUNTS: If this is a joint account,
a
each of you
y will be jointly and severally liab
ble for the money you owe us. Upo
on request by anyy party to the acco
ount
or u
upon receipt of inconsistent instruc
ctions, we may at our option and without notice to an
ny other party, reffuse to pay any ch
heck, make a cassh advance, or reffuse
anyy other request wiith respect to the account.
a
INITIAL CANCELLA
ATION: As part off this Agreement, you grant us a se
ecurity interest in your primary resid
dence and you m
may cancel this Ag
greement within th
hree
(3) business days affter execution of th
his Agreement. To
o do this, you must complete and rreturn the "Notice of Right to Cance
el” given to you upon execution of this
Agrreement.
YO
OUR BILLING RIG
GHTS - KEEP THIS NOTICE FOR FUTURE USE: This
T
notice contain
ns important inforrmation about you
ur rights and our rresponsibilities un
nder
the
e Fair Credit Billing
g Act.
NO
OTIFY US IN CAS
SE OF ERRORS OR
O QUESTIONS ABOUT YOUR BILL:
B
If you think yyour bill is wrong or if you need mo
ore information ab
bout a transaction
n on
you
ur bill, write us as soon as possible
e (on a separate sheet)
s
at PO Box 261209, San Die
ego, CA 92196-12
209 or fax your lettter to us at (858)) 453-8410. We must
m
hea
ar from you no latter than 60 days after
a
we sent you the first bill on which the error or p
problems appeare
ed. You can call u
us, but doing so w
will not preserve your
y
righ
hts. In your letterr, give us the follo
owing information
n: your name and
d account numberr, the dollar amou
unt of the suspeccted error and de
escribe the error and
exp
plain if you can, why
w you believe there is an error. If you
y need more information, describ
be the item you a re not sure about. If you have authorized us to pay your
y
Vissa card bill automa
atically from your savings or checking account, you can stop the paym
ment on any amou
unt you think is w
wrong. To stop the
e payment, your le
etter
mu
ust reach us three (3) business days
s before the autom
matic payment is scheduled
s
to occu
ur.
YO
OUR RIGHTS AND
D OUR RESPONSIBILITIES AFTE
ER WE RECEIVE
E YOUR WRITTE N NOTICE: We m
must acknowledge
e your letter within 30 days unless we
havve corrected we error
e
by then. With
hin 90 days, we must
m
either correc
ct the error or exp
plain why we belie
eve the bill was co
orrect. After we re
eceive your letter, we
can
nnot try to collect any amount you question
q
or reportt you as delinquen
nt. We can continu
ue to bill you for tthe amount in que
estion including fin
nance charge(s), and
we can apply any un
npaid amount aga
ainst your credit lim
mit. You do not ha
ave to pay any qu
uestioned amountt while we are investigating but you
u are still obligated to
payy the parts of you
ur bill that are nott in question. If we
w find that we made a mistake on
n your bill, you w
will not have to pa
ay any finance ch
harges related to any
que
estioned amount. If we didn't make
e a mistake, you may have to pay finance charges and you will have
e to make up anyy missed payments on the questioned
am
mount. In either ca
ase, we will send you
y a statement of
o the amount you
u owe and the da
ate that it is due. IIf you fail to pay tthe amount that w
we think you owe, we
ma
ay report you as delinquent. Howev
ver, if our explanattion does not satis
sfy you and you w
write us within ten
n days telling us th
hat you still refuse
e to pay, we must tell
anyyone we report to
o that you have qu
uestions about your bill and we mu
ust tell you the nam
me of anyone we
e reported to. We must tell anyone we report to that the
ma
anner has been se
ettled between us when it finally is. If we don't follow
w these rules, we can't collect the ffirst $50 of the questioned amount,, even if your bill was
w
corrrect.
SPECIAL RULES FOR CREDIT CAR
RD PURCHASES: If you have a prroblem with the qu
uality of property o
or services that yyou purchased with your Visa card and
you
u have tried in good faith to correc
ct the problem with
h the merchant, you
y may have the
e right not to pay the remaining am
mount due on the property or servic
ces.
The
ere are two limita
ations on this rightt: you must have made the purcha
ase in your home state or, if not w
within your home sstate, within 100 miles of your currrent
ma
ailing address and the purchase pric
ce must have bee
en more than $50. These limitationss do not apply if w
we own or operate
e the merchant orr if we mailed you the
advvertisement for the
e property or serv
vices.
Page 3 of 4
RE
EV. 01.19.16 HELOC70%C
CLTV
E
EQUITY LIN
NE OF CRE
EDIT AGRE
EEMENT
A
AND DISCL
LOSURE ST
TATEMENT
LINE SECURED
D BY DEED OF
F TRUST (EQU
UITY LINE VIS
SA)
FO
OREIGN CURREN
NCY TRANSACT
TIONS: You agree
e that for any charge or credit ma
ade to your acco
ount in currency o
other than U.S. d
dollars, SDCCU may
m
con
nvert the amount into U.S. dollars following
f
SDCCU's own procedure
es for determining the exchange ra te and charge or credit your accou
unt for the U.S. do
ollar
am
mount. The amoun
nt determined following SDCCU's own procedures may be the sam
me as, greater orr less than the amount which wou
uld be calculated
d by
con
nversion on the da
ate the transaction
n was actually inittiated.
TELEPHONE MONIITORING: Our su
upervisory personnel may listen to or record telepho
one calls between
n you and our employees for the purpose of monitoring
and
d improving the qu
uality of service th
hat you receive.
AD
DDITIONAL PROV
VISIONS: Notwith
hstanding anything
g herein to the co
ontrary, in no eve nt shall this Note bear interest at a rate in excess o
of that allowed un
nder
law
w. Borrower, suretties, guarantors and
a
endorsers he
ereby waive prese
entment, demand
d for payment, no
otice of dishonor or acceleration, p
protest and notice
e of
pro
otest and any and all other notices or demands in co
onnection with the
e delivery, accepttance, performancce, default or enfo
orcement of this N
Note. You also wa
aive
anyy rights to any stay of execution and the benefit of all applicable exemption laws now or hereafterr in effect. You ffurther agree to p
pay on demand any
exp
penditures made by
b us for the paym
ment of taxes (exc
cept for income ta
axes, franchise ta
axes and other sim
milar taxes of ourss), assessments, insurance premiums,
rep
pairs, maintenanc
ce and preservatio
on of any improv
vements on the property
p
or for atttorney's fees incu
urred in connectio
on with the enforrcement of our rig
ghts
herreunder and/or the
e security pledged
d for this indebted
dness. At our option, after demand by us for paymen
nt of any such exxpenditures, all such expenditures may
m
be added to the unp
paid outstanding principal balance of this Note and
d be deemed evid
denced and securred by this Note and accrue intere
est (until paid on the
am
mount so expended
d) at the current interest rate in efffect according to the
t terms of this A
Agreement. This N
Note shall, in all rrespects, be interpreted, enforced and
govverned by and under the laws of th
he State of Califorrnia. If any term, provision
p
or coven
nant of this Note iis held by a courtt of competent jurisdiction to be inv
valid
or u
unenforceable, the rest of the terms
s of this Note shall remain in full forrce and effect and
d shall in no way b
be affected, impaiired or invalidated
d.
NO
OTICE: YOU SHO
OULD CONSULT YOUR TAX ADV
VISOR CONCERN
NING THE DEDU
UCTIBILITY OF IN
NTEREST AND C
CHARGES INCUR
RRED UNDER THIS
PLA
AN: Nothing in th
he terms and cond
ditions of this Note
e shall be deemed
d to limit our succcessors or us and//or assigns rights to any other remedies as provided
d by
law
w and/or equity up
pon a default in the
e terms of this No
ote. Time is of the
e essence in the p
performance hereo
of. We may requirre you to complette a loan update from
time to time and/or require a new ap
ppraisal of the real property descrribed in "Security Interest". You ag
gree to pay all off our reasonable costs and expenses
including attorney's fees in the collec
ction of this debt. You further agree
e this Note and ssecurity agreemen
nt shall be interpreted and governe
ed by the laws of the
ate of California. You
Y further hereby expressly waive
e all rights provide
ed by the Statute of Limitations. Byy signing this Notte, security agreement and disclosure,
Sta
you
u hereby certify an
nd acknowledge that you have fully
y read this docume
ent and have rece
eived copies there
eof. If more than o
one person signs tthis agreement, each
sha
all be bound as jo
oint and several bo
orrowers for each
h loan or loan adv
vances taken here
eunder and further authorizes each
h other to execute
e amendments hereto
and
d for each to be bound hereby.
JANE DOE
(SAMPLE DATA)
DATE
JOHN DOE
Page 4 of 4
RE
EV. 01.19.16 HELOC70%C
CLTV
(SAMPLE DATA)
DATE