NJCLASS Consolidation Loan Application and Promissory Note
Section A. Borrower Information (Please print in dark ink or type. Read the Instructions carefully.)
1. First Name 4. Citizenship U.S. Citizen Permanent Resident Alien #: _______________ Neither 6. Home Telephone Number 7. E-mail Address City State Zip Code MI Last Name 5. Permanent Street Address 2. Social Security Number
NJCLASS Consolidations PO Box 538 Trenton, NJ 08625-0538 800-792-8670
3. Date of Birth (Month/Day/Year)
8. Driver’s License (“N/A” if none) State: #: 10. Reference Information (Co-Borrower cannot be listed as a reference) a. (Relative not living with you.) Name ____________________________________________________ Permanent Address ___________________________________________ City____________________________ State_______ Zip____________ Area Code/ Telephone __________________________________________ b. (Relative or friend not living with you.) Name ____________________________________________________ Permanent Address ___________________________________________ City____________________________ State_______ Zip____________ Area Code/ Telephone __________________________________________ c. (Relative or friend not living with you.) Name ____________________________________________________ Permanent Address ___________________________________________ City____________________________ State_______ Zip____________ Area Code/ Telephone __________________________________________ 12. Social Security Number 13. Date of Birth (Month/Day/Year)
9. Employment Information (Indicate “None” or Retired if applicable) Present Employer ________________________________________________________________ Address _________________________________________________________ City _______________________________ State _______ Zip _____________ Area Code/ Telephone _____________________________________________
9a. Income Gross Annual Income $ _____________________________________________ (You do not need to include income from alimony, child support, or separate maintenance unless you would like us to consider it.)
Section B. Co-Borrower Information (Read the Instructions carefully.)
11. First Name 14. Citizenship U.S. Citizen Permanent Resident Alien #: _______________ Neither 16. Home Telephone Number City State Zip Code MI Last Name 15. Permanent Street Address
17. E-mail Address
18. Driver’s License (“N/A” if none) State: #: 20. Reference Information (Borrower cannot be listed as a reference.) a. (Relative not living with you.) Name ____________________________________________________ Permanent Address ___________________________________________ City____________________________ State_______ Zip____________ Area Code/ Telephone __________________________________________ b. (Relative or friend not living with you.) Name ____________________________________________________ Permanent Address ___________________________________________ City____________________________ State_______ Zip____________ Area Code/ Telephone __________________________________________ c. (Relative or friend not living with you.) Name ____________________________________________________ Permanent Address ___________________________________________ City____________________________ State_______ Zip____________ Area Code/ Telephone __________________________________________
19. Employment Information (Indicate “None” or Retired if applicable) Present Employer ________________________________________________________________ Address _________________________________________________________ City _______________________________ State _______ Zip _____________ Area Code/ Telephone _____________________________________________ 19a. Income Gross Annual Income $ _____________________________________________ (You do not need to include income from alimony, child support, or separate maintenance unless you would like us to consider it.)
Section C. NJCLASS Loan Indebtedness (Read the instructions before completing this section.)
Request for a Loan: I hereby request New Jersey Higher Education Student Assistance Authority (HESAA) to make a loan to me (us) in the amount and according to the terms and for the purposes described herein. List each NJCLASS loan (must be in monthly repayment status, option 1, and in either the borrower’s or coborrower’s name to be eligible) you wish to include in your consolidation. If additional space is needed, use the supplemental form included. The actual consolidation amount will be determined based on the actual payoff amounts utilized by HESAA. HESAA reserves the right to exclude loans that do not qualify for consolidation. You will receive a disclosure of the actual consolidation loan amount at the time the loan is funded.
NJCLASS Loan Number
(starts with a C or P or V)
Current Balance
HESAA STAFF USE ONLY
Borrower Borrower Borrower Borrower Borrower Borrower Borrower Borrower Borrower Borrower Borrower Borrower Borrower Borrower Borrower Co-borrower Co-borrower Co-borrower Co-borrower Co-borrower Co-borrower Co-borrower Co-borrower Co-borrower Co-borrower Co-borrower Co-borrower Co-borrower Co-borrower Co-borrower
Check the box if including Cosigner(s) on this loan.
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Cosigner Addendum Attached
Certification and Authorization
In accordance with N.J.S.A 18A:71C-31, any person who knowingly and willfully furnishes any false or misleading information for the purpose of obtaining a loan, or enabling another to obtain a loan, shall be guilty of a crime of the fourth degree and upon conviction thereof, be punished by fine or imprisonment, or both. I certify that the information on this application is true, correct and complete to the best of my knowledge and belief and made in good faith. I certify that I do not owe a refund on a Federal or State student assistance grant and that I am not in default on a Federal or State student loan. I further certify, that all debts being consolidated with the proceeds of this Loan were obtained and used solely for the purposes of financing education expenses. I understand that you and your agents are relying on this certification. I further understand that if any information provided herein is willfully false, I am subject to punishment. I authorize you and your agents to gather and share from time to time credit, income, employment and other information about me and my loan with each other, consumer reporting agencies, and third parties in accordance with applicable law. I understand that a credit report is obtained for this loan application. If I am applying via HESAA’s website, I authorize a credit report to be obtained in advance of my returning a signed copy of my application. If I live in a community property state, I authorize you to gather credit-related information from others about my spouse. I authorize the release of this application and any attachments to your agent(s) or any subsequent holder(s) of this Note.
Borrower’s Signature Co-borrower’s Signature
Date Month/Day/Year Date Month/Day/Year
NJCLASS Consolidation Loan Cosigner Addendum
NJCLASS Consolidations PO Box 538 Trenton, NJ 08625-0538 800-792-8670
Social Security Number Social Security Number
This Addendum is submitted as part of the NJCLASS Consolidation Loan Application for the following borrower(s).
Borrower’s Name: Co-borrower’s Name:
Cosigner Information (Please print in dark ink or type. Read the Instructions carefully.)
NOTICE TO COSIGNER (S): You are being asked to guarantee this debt. Think carefully before you do so. If the borrower(s) does not pay the debt, you will be required to do so. Be sure that you can afford to pay the full amount of this debt if you have to, and that you want to accept responsibility for the full amount of the debt. You may have to pay up to the full amount of the debt if the borrower(s) does not pay. You may also have to pay interest charges, late fees or collection costs, which may increase the total amount due. The holder of this Note can collect this debt from you without first trying to collect from the borrower(s). The holder of this Note can use the same collection methods against you that can be used against the borrower(s), such as suing you, garnishing your wages, etc. If this debt is ever in default, that fact may become part of your credit record. This notice is not the contract that makes you liable for the debt. This is a credit application. You will be required to sign a promissory note, which records your liability for the debt.
31. First Name 34. Citizenship U.S. Citizen Permanent Resident Alien #: _______________ Neither 36. Home Telephone Number City State Zip Code MI Last Name 35. Permanent Street Address 32. Social Security Number 33. Date of Birth (Month/Day/Year)
37. E-mail Address
38. Driver’s License (“N/A” if none) State: #: 40. Reference Information (Other borrowers cannot be listed as a reference. ) a. (Relative not living with you.) Name ____________________________________________________ Permanent Address ___________________________________________ City____________________________ State_______ Zip____________ Area Code/ Telephone __________________________________________ b. (Relative or friend not living with you.) Name ____________________________________________________ Permanent Address ___________________________________________ City____________________________ State_______ Zip____________ Area Code/ Telephone __________________________________________ c. (Relative or friend not living with you.) Name ____________________________________________________ Permanent Address ___________________________________________ City____________________________ State_______ Zip____________ Area Code/ Telephone __________________________________________
39. Employer Information (Indicate “None” or Retired if applicable) Present Employer ________________________________________________________________ Address _________________________________________________________ City _______________________________ State _______ Zip _____________ Area Code/ Telephone _____________________________________________ 39a. Income Gross Annual Income $_____________________________________________ (You do not need to include income from alimony, child support, or separate maintenance unless you would like us to consider it.)
Joint Cosigner Information (Read the Instructions carefully.)
41. First Name 44. Citizenship U.S. Citizen Permanent Resident Alien #: _______________ Neither 46. Home Telephone Number City State Zip Code MI Last Name 42. Social Security Number 43. Date of Birth (Month/Day/Year)
45. Permanent Street Address
47. E-mail Address
48. Driver’s License (“N/A” if none) State: #: 50. Reference Information (Other borrowers cannot be listed as a reference.) a. (Relative not living with you.) Name ____________________________________________________ Permanent Address ___________________________________________ City____________________________ State_______ Zip____________ Area Code/ Telephone __________________________________________ b. (Relative or friend not living with you.) Name ____________________________________________________ Permanent Address ___________________________________________ City____________________________ State_______ Zip____________ Area Code/ Telephone __________________________________________ c. (Relative or friend not living with you.) Name ____________________________________________________ Permanent Address ___________________________________________ City____________________________ State_______ Zip____________ Area Code/ Telephone __________________________________________
49. Employer Information (Indicate “None” or Retired if applicable) Present Employer _______________________________________________________________ Address _________________________________________________________ City _______________________________ State _______ Zip _____________ Area Code/ Telephone _____________________________________________
49a. Income Gross Annual Income $ _____________________________________________ (You do not need to include income from alimony, child support, or separate maintenance unless you would like us to consider it.)
Certification and Authorization
In accordance with N.J.S.A 18A:71C-31, any person who knowingly and willfully furnishes any false or misleading information for the purpose of obtaining a loan, or enabling another to obtain a loan, shall be guilty of a crime of the fourth degree and upon conviction thereof, be punished by fine or imprisonment, or both. I certify that the information on this application is true, correct and complete to the best of my knowledge and belief and made in good faith. I certify that I do not owe a refund on a Federal or State student assistance grant and that I am not in default on a Federal or State student loan. I further certify, that all debts being consolidated with the proceeds of this Loan were obtained and used solely for the purposes of financing education expenses. I understand that you and your agents are relying on this certification. I further understand that if any information provided herein is willfully false, I am subject to punishment. I authorize you and your agents to gather and share from time to time credit, income, employment and other information about me and my loan with each other, consumer reporting agencies, and third parties in accordance with applicable law. I understand that a credit report is obtained for this loan application. If I am applying via HESAA’s website, I authorize a credit report to be obtained in advance of my returning a signed copy of my application. If I live in a community property state, I authorize you to gather credit-related information from others about my spouse. I authorize the release of this application and any attachments to your agent(s) or any subsequent holder(s) of this Note.
Cosigner’s Signature Joint Cosigner’s Signature
Date Month/Day/Year Date Month/Day/Year
WARNING: Any person who knowingly makes a false statement or a misrepresentation on this form is subject to penalties which may include fines or imprisonment under N.J.S.A. 18A:71C-31. IT IS IMPORTANT THAT YOU THOROUGHLY READ THIS AGREEMENT BEFORE YOU SIGN IT.
In this Promissory Note, the words “I”, “me,” “my,” and “Borrower” mean the undersigned borrower, or, if there is more than one undersigned borrower, all borrowers individually and collectively, unless the language specifically refers to only one or the other. “Lender”, “you” and “your” means New Jersey Higher Education Student Assistance Authority (HESAA), its successors or subsequent holder of this Note.
NJCLASS Consolidation Loan Promissory Note
Promise to Pay: I understand that this is an educational loan that I promise to pay to the order of HESAA, in accordance with the terms and conditions of this Note, the amounts that are advanced to me and identified to me in the NJCLASS Repayment Disclosure, plus interest as set forth below and any other charges which may become due. There is an administrative fee of 1% that is added to the principal balance of this loan. The administrative fee is based upon the amount of the outstanding balance of the NJCLASS loans being consolidated. This fee is only applicable to NJCLASS loans that have not previously been consolidated into a NJCLASS consolidation loan. If I fail to pay any of these amounts when they are due, I will pay all charges and other costs, including attorney fees and court costs that are permitted for the collection of this loan, which the HESAA or the subsequent holder of this Promissory Note incurs in collecting this loan. I agree that the laws of the State of New Jersey shall govern this Promissory Note. My signature certifies that I have read, understood and agreed to all the provisions of this note, including the conditions and authorizations stated in the “Certification” and “Notice to Cosigner” (if applicable). I understand that the Note amount will be based upon the amount necessary to repay the balances of my existing NJCLASS loans that I am consolidating. I also understand that this Note amount may be different than my estimated current balances indicated on the Application and/or on the supplemental sheet. Should any overpayment of my NJCLASS loans occur, I authorize that credit balance to be applied to the principal balance of this Note. I, the undersigned for value received, promise to pay to the order of: Higher Education Student Assistance Authority (HESAA) PO Box 538 Trenton, NJ 08625-0538 Or subsequent holder of this Note, all of the principal sum of: Requested Consolidation Loan Amount $ _________________ (as well as the charges listed in the “Promise to Pay” section above) Or such loan amount as is advanced to me and identified to me in the NJCLASS Repayment Disclosure Statement, plus interest as set forth in the NJCLASS Loan Terms, Conditions, Definitions (on reverse) and any other charges that may become due. I authorize you and your agents to gather and share from time to time credit, income, employment and other information about me and my loan with each other, consumer reporting agencies, and third parties in accordance with applicable law. If I live in a community property state, I authorize you to gather credit-related information from others about my spouse. I further authorize you and your agents to release information and make inquiries of the persons that I have listed on my application for the purpose of obtaining my current address and telephone number. I authorize the release of this application and any attachments to your agent(s) or any subsequent holder(s) of this Note. I understand that this is a Promissory Note. I will not sign this Note before reading, understanding and agreeing to it, including the Terms and Conditions set forth above. By signing this Promissory Note I acknowledge that I have received an exact copy hereof. If applicable, I will also provide a copy of this Promissory Note, including the Terms and Conditions to the cosigner(s) for his/her records. NOTICE TO THE COSIGNER(S): You are being asked to guarantee this debt. Think carefully before you do so. If the borrower(s) does not pay the debt, you will be required to do so. Be sure that you can afford to pay the full amount of this debt if you have to, and that you want to accept responsibility for the full amount of the debt. You may have to pay up to the full amount of the debt if the borrower(s) does not pay. You may also have to pay interest charges, late fees or collection costs, which may increase the total amount due.
The holder of this Note can collect this debt from you without first trying to collect from the borrower(s). The holder of this Note can use the same collection methods against you that can be used against the borrower(s), such as suing you, garnishing your wages, etc. If this debt is ever in default, that fact may become part of your credit record.
I understand that this is a Promissory Note. I will not sign this Note before reading, understanding and agreeing to it, including the Terms and Conditions set forth above. By signing this Promissory Note I acknowledge that I have received an exact copy hereof from the borrower.
Borrower’s Signature Today’s Date Month/Day/Year
Co-Borrower’s Signature Cosigner’s Signature
Today’s Date Month/Day/Year Today’s Date Month/Day/Year
Joint Cosigner’s Signature Lender Approved Amount
File #
Today’s Date Month/Day/Year Signature of Lending Official Signature of Lending Official Title Title Date Date
Terms and Conditions:
Keep this document for your records. Do not submit with your application.
Certifications: The borrower(s) and cosigner(s) certify under penalty of perjury under the laws of the State of New Jersey that the information I provided in the application is true and accurate. Disbursement: I understand that this Note will be binding on me if you agree to lend me money, but you have no obligation to agree to do so. You have the right not to make a loan or to lend an amount less than I am requesting and/or to reject my Coborrower/cosigner(s). My contractual obligation on this Note begins on the date the loan is disbursed. You will send me the Disclosure Statement required by law, and such statement is incorporated herein by this reference. Upon receipt of the Disclosure Statement, I will review it and notify you in writing if I have any questions. If any information on the Disclosure Statement conflicts with the information on this Note, the information on this Note governs. Interest: Interest shall accrue daily on the unpaid principal balance at the rate stated on the Disclosure Statement from the date of the initial loan disbursement until the date this Note is paid in full. Interest will be calculated on the basis of the actual number of days in the year and the actual number of days elapsed, including holidays and days on which you are not open. If I do not pay accrued interest to you during Forbearance, you may at your option add all such interest to the principal balance of the loan at the end of the Forbearance Period. The rate used to calculate interest will be a weighted average interest rate of the underlying NJCLASS loans being consolidated. The weighted interest rate for a fixed rate loan is based upon the remaining term of the loan and excludes any interest rate benefit reduction, such as Automated Clearinghouse (ACH), or payment arrangement. In the event that a Variable rate loan is included in this Consolidation Loan, the rate used in the weighted average calculation will be the equivalent fixed-rate program rate in effect at the time of disbursement of that loan. Disclosure Statements: The borrower(s) and cosigner(s) will each receive a copy of the Disclosure Statement revealing the interest rate for this Note, the amount of the payment, the number of payments that must be made and other terms and conditions. Repayment: I shall repay this Note in consecutive monthly installments made up of principal and interest until I have paid all of the principal, interest, charges and other costs that I may owe under this Note. My repayment term shall extend up to a 25-year period, if the beginning principal balance is $59,999.99 or less; or up to a 30-year period, if the beginning principal balance is $60,000.00 or greater. In each case, the Repayment Period begins on the initial Consolidation Loan disbursement date. The first monthly installment shall be due as indicated on my first monthly billing statement, and shall be no more than 60 days following the initial loan disbursement date. Thereafter monthly payments shall be due on the same day of the month as the first payment was due. The amount of each monthly installment due shall be the amount necessary to fully amortize the then-current outstanding principal balance of this Note over the number of months remaining in the Repayment Period based upon the interest rate on this Note. I am not relieved of my responsibility and obligation to make such payments if I do not receive billing statements or any other written notices from you. Payments will be applied first to unpaid interest and then to unpaid principal and then to unpaid costs and finally to unpaid fees, as permitted by applicable law. I may, at my option and without penalty, prepay all or any part of this Note at any time; however, any partial prepayment will not relieve me of my obligation to make regular monthly payments until this Note is paid in full. Since interest accrues daily upon the unpaid principal loan balance, if I make payments after my payment due dates, I may owe unpaid principal, unpaid interest, unpaid costs and unpaid fees, which are due and payable upon maturity of this Note. Forbearance: HESAA may, at its discretion, grant borrower(s) periods of forbearance in the repayment of this Note. Forbearance may be granted for situations including, but not limited to, economic hardship. While on forbearance, a borrower is permitted a temporary cessation of principal payment and is temporarily permitted to make payments of interest only. If this Note was approved with a co-borrower, then the co-borrower must also qualify for forbearance and be approved, at HESAA’s discretion. If either individual does not qualify for forbearance, then the individuals will be expected to continue to make monthly payments. I agree not to claim any forbearance you grant as a defense to repayment of this loan. Late Payment and Other Charges: HESAA may collect from the borrower(s) a late charge, not to exceed 6% of the required payment, if the borrower fails to pay part or all of a required payment within ten (10) days after a payment is due. HESAA may also collect a handling charge of $35.00 for each payment on this Note returned for any reason, including but not limited to insufficient funds or stop payment order. Obligation to Pay Survives Death or Disability: I acknowledge that if I die or become disabled while any amount due under this Note remains unpaid, the other borrowers/cosigners to this note will remain obligated to repay this note in full. If there are no other obligors on this Note, the unpaid balance is forgiven. I understand that there is no consideration for a discharge of this Note for Death or Disability of one or more of the borrowers/cosigners, so long as at least one borrower/cosigner survives. Default: To the extent permitted by law, I will be in default and you may declare, without notice or demand, the entire unpaid amount of this Note, including principal, interest, late charges, all other charges, and all costs of collection and reasonable attorneys’ fees, immediately due and payable if: A. I fail to make any payment to you when due, and HESAA reasonably concludes that the borrower no longer intends to honor his/her obligation.
D. I fail to perform any agreement or keep any promise contained in this Note. E. I am in default on any other loans that I may already have with you, or on any other loans I may have with you in the future. Acceptance by HESAA of any payment, in whole or in part, of the amounts in arrears will not waive or affect any prior acceleration of this Note. HESAA may delay or fail to exercise or waive any of its rights on any occasion without losing its entitlement to exercise the right at any future time or on any future occasion. I waive presentment, demand, notice, protest and other demands and notices in connection with the delivery, acceptance, performance, default or enforcement of this Note. If I default, I will be required to pay interest on this loan accruing after default. All of these provisions will continue to apply after default. All past due interest may, to the extent permitted by law, be capitalized and henceforth treated as part of the outstanding principal balance. Bankruptcy: This loan is an educational loan made by a governmental unit, and is subject to the exception to discharge of 11 U.S.C. §523(a)(8). Collection Costs: If I am in default, I agree to pay all amounts, including reasonable collection agency and attorneys’ fees and court and other collection costs that you incur in effecting collection of this Note, up to the maximum permitted by law. Credit Bureau Reporting: If I am in default or I fail to make any payment when due on this Note, disclosure of information about the Loan to credit reporting agencies may adversely affect my credit rating and my ability to obtain other credit. You may report the status of my loan and my payment history to credit reporting agencies and others in accordance with applicable law. If I ask you, you will tell me if you have requested information about me (or about my spouse, if applicable) from a consumer-reporting agency and provide me with the name and address of any agency that furnished you with a report. Transfer of Promissory Note: This Note may be transferred to a holder other than HESAA. Such transfer may not affect the rights and responsibilities of the parties as set forth. This Note is not intended to be a negotiable instrument and a subsequent holder of this Note cannot be a holder in due course. Modifications: HESAA reserves the right to amend any terms, conditions, and/or definitions upon written notice to the borrower(s) and cosigner(s). Governing Law: The provisions of this Note shall be governed in all respects by applicable federal law, and the laws of the State of New Jersey without regard to conflict of law rules. Miscellaneous: A. My responsibility for paying this Note is unaffected by the liability of any other person to you or me for repayment of this Note or by your failure to notify me that a required payment has not been made. You may release any other person liable on this Note without affecting my obligations under this Note. B. Should any provision of this Note be held invalid or unenforceable, in whole or in part, such provision (or part of such provision) shall be deemed omitted from this Note, and the validity and enforceability of the remaining provisions of this Note shall not be affected thereby. C. Notwithstanding any other provision of this Note, you may change the date for payment of monthly installments under this Note, which shall be deemed accepted by me unless I object in writing. D. I will send written notice to you within 10 days after any change in my name, address, or telephone number. Any notice required to be given to me by HESAA will be considered effective when mailed to the latest address which HESAA has for me or any other obligor of this Note. I must notify you or your agent(s) in writing of information changes to my application and I must update the information on my Note whenever asked to do so. If this Note is executed by more than one borrower, each borrower agrees that any communication between you and any of the borrowers will be binding on all of the borrowers and that the provisions of this Note will apply to all borrowers individually and collectively. E. My obligation as cosigner under this Note is unconditional and absolute. I waive all notices to which I might be entitled by law as a guarantor of the Borrower’s obligations hereunder. I waive all suretyship defenses that might be available to me (including, without limitation, contribution, subrogation, and exoneration). I agree that the Borrower may agree to any forbearance or other modification of the repayment schedule and that such agreement will be binding on me. It shall not be necessary for you to resort to or exhaust your remedies against the Borrower before calling upon me to make repayment. The terms and conditions in this Note constitute the entire agreement between you and me. F. If I want to pay you with a check or similar instrument that has such special notations or instructions on it or with it or if I am sending the final payment for this Note, I agree to send the payment (including the special notations or instructions) to the address identified for such purposes on my billing statement. If I send my payment (including the special notations or instructions) to any other address, I agree that (i) you may ignore the special notations or instructions, and (ii) your crediting any such check or other instrument to amounts I owe under this Note does not mean that you have agreed to the special notations or instructions. G. If offered by HESAA, you will be eligible for interest reduction of 0.50% or 50 basis points if you participate in HESAA’s monthly re-occurring ACH program for monthly payments.
June 2005
B. I make an assignment for the benefit of creditors, have voluntary or involuntary bankruptcy proceedings instituted by or against me, or I am adjudicated incompetent or incapacitated. C. I make any statement or representation on the application and/or supporting documents for the Loan, or in any subsequent communication with you that is untrue, incorrect, or incomplete.
June 2005
Keep this document for your records. Do not submit with your application.
Notice to Borrowers:
CALIFORNIA RESIDENTS: I have the right to prohibit the use of information contained in my credit file in connection with transactions not initiated by me. I may exercise this right by notifying the consumer credit reporting agency. A married applicant may apply for a separate account. If any adverse action is taken as defined by Section 1785.3 of the California Civil Code and the adverse action is based, in whole or in part, on any information contained in a consumer credit report, I have the right to obtain within 60 days a free copy of your consumer credit report from the consumer reporting agency who furnished the report and from any other consumer credit-reporting agency which complies and maintains files on consumers on a nationwide basis relative to my credit. I have the right as described in Section 1785.16 of the California Civil Code to dispute the accuracy or completeness of any information in a consumer credit report furnished by the consumer credit reporting agency. CALIFORNIA AND UTAH RESIDENTS: As required by California and Utah law, a negative credit report reflecting on my credit record may be submitted to a credit-reporting agency if I fail to fulfill my credit obligation terms. IOWA RESIDENTS: This is a consumer credit transaction. 1. DO NOT SIGN THIS PAPER BEFORE YOU READ IT. 2. YOU ARE ENTITLED TO A COPY OF THIS PAPER. 3. YOU MAY PREPAY THE UNPAID BALANCE AT ANY TIME WITHOUT PENALTY AND MAY BE ENTITLED TO A REFUND OF UNEARNED CHARGES IN ACCORDANCE WITH LAW. FOR KENTUCKY RESIDENTS: YOU ARE NOT OBLIGATED TO PAY ANY MONEY UNLESS YOU SIGN THIS CONTRACT AND RETURN IT TO THE MERCHANT. MARYLAND RESIDENTS: We elect Subtitle 10, Credit Grantor Closed End Credit Provisions, of Title 12 of the Commercial Law Article of the Annotated Code of Maryland only to the extent not inconsistent with 12 U.S.C. §85 and related regulations and opinions, which we expressly reserve. MAINE, NEW YORK, RHODE ISLAND, AND VERMONT RESIDENTS: Consumer reports (credit reports) may be obtained in connection with this application. If I request: 1) I will be informed whether or not consumer reports were obtained; and 2) if reports were obtained, I will be informed of the names and addresses of the consumer reporting agencies (credit bureaus) that furnished the reports. If the Application is approved, a consumer credit report may be obtained in connection with renewals or extensions of any credit for which I have applied, reviewing my loan, taking collection action on my loan, or legitimate purposes associated with my loan. MISSOURI RESIDENTS: Oral agreements or commitments to loan money, extend credit or to forbear from enforcing repayment of a debt including promises to extend or renew such debt are not enforceable. To protect me (borrower(s)) and you (creditor) from misunderstanding or disappointment, any agreements we reach covering such matters are contained in this writing, which is the complete and exclusive statement of the agreement between us, except as we may later agree in writing to modify it. MAINE RESIDENTS: Consumer reports (credit reports) may be obtained in connection with this application. If you request: 1) you will be informed whether or not consumer reports were obtained; and 2) if reports were obtained, you will be informed of the names and addresses of the consumer reporting agencies (credit bureaus) that furnished the reports. OHIO RESIDENTS: The Ohio laws against discrimination require that all creditors make credit equally available to all credit worthy customers, and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio Civil Rights Commission administers compliance with this law. WISCONSIN RESIDENTS: For married Wisconsin residents, my signature confirms that this loan obligation is being incurred in the interest of my marriage and family. No provision of any marital property agreement (pre-marital agreement), unilateral statement under Section 766.59 of the Wisconsin Statutes or court decree under Section 766.70 adversely affects the interest of the lender unless the lender, prior to the time that the loan is approved, is furnished with a copy of the marital property agreement, a statement, a decree or has actual knowledge of the adverse provision. If the loan for which I am applying is granted, my spouse will also receive notification that credit has been extended to me. FOR WISCONSIN RESIDENTS - NOTICE TO CUSTOMER (A) DO NOT SIGN THIS BEFORE YOU READ THE WRITING ON THE REVERSE SIDE, EVEN IF OTHERWISE ADVISED, (B) DO NOT SIGN THIS IF IT CONTAINS ANY BLANK SPACES. (C) YOU ARE ENTITLED TO AN EXACT COPY OF ANY AGREEMENT YOU SIGN. (D) YOU HAVE THE RIGHT, AT ANY TIME, TO PAY IN ADVANCE THE UNPAID BALANCE UNDER THIS AGREEMENT AND YOU MAY BE ENTITLED TO A PARTIAL REFUND OF THE FINANCE CHARGE. STATE AGE REQUIREMENTS: The legal age for entering into contracts is 18 years of age in every state in the United States except the following: Alabama and Nebraska – 19 years old and Mississippi and Puerto Rico – 21 years old.
June 2005