HomeMy WebLinkAboutPR 15107: RESCINDING RESOLUTION 08-482 - ARTHUR SQUARE APARTMENTSMemorandum
City of Port Arthur, Texas
Finance Department
To: Steve Fitzgibbons, City Mana
From: Rebecca Underhill, Director
Date: March 20, 2009
Subject:, Proposed Re;solution 15107
~~n December 16, 2008, the City Council approved Resolution 08-482 authorizing an installment
agreement with Fairway Plaza, LLC. That agreement was not executed due to questions concerning
garbage charges and changes in corporate structure of the property.
PR 15107 authorizes an agreement with Elite GP1 Corporation. This agreement has been executed
by the company. The combined balances (of five accounts) were $104,574.38. The owners have paid the
required 20% down, $21,'773.93 and have requested a payment agreement for the balance, $82,800.45.
This resolution authorizes 'the City to enter into an agreement for eighteen months. The monthly payments
will be $4,820.37.
er
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City of Port Arthur
Water Department
February 10, 2009
To: Jennifer Abraham
C: Rebecca Underhill, Finance Director
Inetl;a Clayton, Assistant Utility Office Manager
From: Debra Ambroise, Utility Office Manager
Re: Water Service for Fairway Plaza
Cuslomer ID # 105403
Location ID (s) 88722, 88724, 88732, 88734, 88736
Ms. Jennifer,
Regarding the above referenced accounts, we have received 20% of the balance on the
accounts and are now prepared to enter into agreement with them. All credits due has
been applied to the accounts and all are billed correctly. The following is a break down
of the amount currently owed.
Customer ID # 105403-88722
" 88724
" 88732
" 88734
" '` 88736
Total Amount Due
20 % Down Payment
Total Amount Financed
$23, 041.45
22, 183.56
28,768.12
9,392.49
21,188.76
$104,574.38
$ 21,773.93
$ 82,800.45
Attachment
P. R. NO. 15107
03/20/09 gt
RESOLUTION NO.
A RESOLUTION RESCINDING RESOLUTION 08-482 AND
AUTHORIZING THE EXECUTION OF AN INSTALLMENT
AGREEMENT BETWEEN THE CITY OF PORT ARTHUR
AND ARTHUR SQUARE APARTMENTS, LP, A NEVADA
LIMITED PARTNERSHIP (SUCCESSOR TO FAIRWAY
PLAZA, L,LC BY CONVERSION) AND AUTHORIZED TO
TRANSACT BUSINESS IN TEXAS UNDER THE NAME
2006 ARTHUR SQUARE APARTMENTS, LP.
WHEREAS, on L)ecember 16, 2008, the City Council authorized an installment agreement with
Fairway Plaza, LLC, pursuant to Resolution 08-482; and
WHEREAS, the agreement. with Fairway Plaza, LLC was not executed; and
WHEREAS, it is deemed in the best interest of the City to rescind Resolution 08-482 and enter
intro an agreement with ARTHUR SQUARE APARTMENTS, LP, a Nevada limited partnership (successor
to Fairway Plaza, LLC by conversion and authorized to transact business in Texas under the name 2006
Arthur Square Apartments, LP).
WHEREAS, Arthur Square Apartments owed at least $104,574.38 as of February 10, 2009, in
water, sewer and garbage bills; and
WHEREAS, on or about February 10, 2009, the company has paid $21,773.93 down and requested
a 18 month note for the remaining balance of $82,800.45 at payments of $4,820.37 per month.
WHEREAS, the bills for the February consumption are also due and payable on March 21, 2009
NOW THEREFCIRE BE IT RESOLVED BY THE CITY COUNCIL OF THE CI'CY OF
PORT ARTHUR:
Section 1. That :Resolution 08-482 is hereby rescinded.
Section 2. That City Council authorizes the execution of the Installment: Agreement in
substarrtially the same form as delineated in the attached Exhibit "A" so long as the Deed of Trust is
executed as delineated in Exhibit "B" and so long as the current bills for the month of February (Account #
10540.5-88722, 105403-88724, 105403-88732, 105403-88734 and 105403-88736) and future bills acre paid.
Section 3. That a copy of the caption of the Resolution shall be spread upon the
Minutes of the Meeting of'the City Council.
READ, ADOPTED, AND APPROVED, this da;y of March, 2009 A:D, at a
Regular Meeting of the City Council of the City of Port Arthur, Texas by the following vote::
AYES:: Mayor:
Cc-uncilmembers:
NOES:
Mayor
ATTEST:
Terri Hanks, City Secretary
APPROVED AS "TO FORM:
Mark Sokolow, City Attorney
APPROVED FOR ADMDVISTRA'I'ION:
t ve Fitzgibbons, City Manager
.~ci
Rebecc;a Underhill, Asst. City Manager/Finance Director
Exhibit "A"
18 MONTH INSTALLMENT AGREEMENT
NAME Arthur Square Apartments. LP
Elite GP1 Corporation, General Partner
Tomas Schoff, President of General Partner
Address: 1600 Main Avenue
Port Arthur, Texas 77642
Phone: 916-284-4825
Port Arthur, Texas 771540
Water, Sewer and Garbage _ $
No. of Months 18
Date: 2/11/09
82,800.45
Account No. 105403-88736
105703-88734
105403-88732
105403-88722
105403-88724
AGREEMENT FOR THE INSTALLMENT
PAYMENT OF COST OF WATER & SEWER
ST AT'E OF TEXAS
COUNTY OF JEFFERSON
Since you have requested to pay the costs of Water and Sewer, plus interest ("Delinquent Amounts.~~) in
installments; and
Since the City of Pont Arthur is willing to allow you to pay the Delinquent Amounts in
installments; then, because of the city's agreement to let you pay the Delinquent Amounts
installments and your ;agreement to pay the Delinquent Amounts and the accrued interest as
denoted in Exhibit "A", you and the City agree as follows:
x**x~** Please Read and Initial that you Understand EACH PARAGAPH Yx***Y
(' ~ )1. Installment Patents. You will pay $21,188.76 at the time of your
signing this agreement which represents ten (20%) percent of the amount:
the teen of this Agreement, interest will continue to accrue on the unpaid
amounts. Prior to the last payment, you must check with the Finance Department to
determine the final amount due.
(~ ~ ,l 2 Suit. At the time you sign. this agreement, you acknowledge that suit has
NOT been filed on this account. If you fail to make payments as set out is
paragraph 1 above, the City may immediately initiate suit to collect all
amounts due on this account including interest and cost of collection,
attorney's fees, or any other collection remedies available to the City of Port
Arthur.
5 ;- 3 Abatement. In the event you do not make the agreedl on payments, this
agreement will become null and void IMMEDIATEI Y.
(fiS ;- 4 Events of Default. It will be an event of default under this Agreement i:E
a. You fail to make the payments in the amounts and on the dates
re~~uired by Paragraph 1.
(~~S ;- 5 Once the installment agreement is fully paid, the City will release the lien
that it ha:> filed on the property.
YOU UNDERSTAND AND AGREE THAT BY SIGNING THIS AGREEMENT
YOU ARE IRREVOCABLY ADMITTING YOUR PERSONAL LIABILITY FOR
THE DELINQUENT AMOUNT.
Executed this
City of Port Arthur
By:
~ _day of ~, b rka~U , ?001
Finance Department
Approved by:
~~~er,e~ ~ P~r~~
Name: ~ 1 i -E-2 r ~ P~ G~rP ~ (~ e,,rerc~,1 Ptir"~-ur
Debtor
NOTE: PAYMENTS SHOULD BE MAILED TO:
City of Port Arthur
Finance Department
P. O. Box 1089
444 4t" Street
Port Arthur, Texas 77641
JJA/WORD/INSTALLMENT AGREEMEN"h-Arthur Sq
Interest Vision
Amortization Schedule
Loan or Annuity Variables:
Start Date: Feb 10, 2009 End Date: Aug 10, 2010
Start Payment : Feb 10, 2009 No. of Payments: 18
Start Interes t: Feb 10, 2009 Interest Rate: 6.OOOo
Payme nt Freq. : Monthly Initial Principal: $82800.45
Cornpound Freq .: Monthly Payment Amount: $4820.:3'7
Days in Mo.,/Y r.: Actual No. Balloon: $0.00
Payme nt Mode: In Arrears Amortization Met hod: Simple :Int.
Payment In terest Interest
Nc~. Date Amount Amount Rate/Yr. Principal Balance
Feb 10, 2009 0.00 0.00 0.000 0.00 82800.45
1 Mar 10, 2009 4820.37 381.11 6.000 4439.26 7836:L.19
2 Apr 10, 2009 4820.37 399.32 6.000 4421.05 73940.13
3 May 10, 2009 4820.37 364.64 6.000 4455.74 69484.39
4 :Jun 10, 2009 4820.37 354.08 6.000 4466.29 650:18.11
5 Jul 10, 2009 4820.37 320.64 6.000 4499.74 60518.37
6 Aug 1.0, 2009 4820.37 308.39 6.000 4511.98 56006.39
7 Sep 10, 2009 4820.37 285.40 6.000 4534.97 5147:L.42
8 Oct 10, 2009 4820.37 253.83 6.000 4566.54 46904.88
9 Nov 10, 2009 4820.37 239.02 6.000 4581.35 42323.53
:LO Dec 10, 2009 4820.37 208.72 6.000 4611.65 377:1:L.87
:L1 Jan 10, 2010 4820.37 192.18 6.000 4628.20 33083.67
:12 I?eb 10, 2010 4820.37 168.59 6.000 4651.78 2843:L.89
:13 Mar 10, 2010 4820.37 130.86 6.000 4689.51 23742.38
:14 Apr 10, 2010 4820.37 120.99 6.000 4699.38 1904:3.00
:L5 May 1.0, 2010 4820.37 93.91 6.000 4726.46 14316.54
:L6 Jun 10, 2010 4820.37 72.96 6.000 4747.42 956'x.12
:L7 Jul 10, 2010 4820.37 47.19 6.000 4773.18 4795.93
:L8 Aug 10, 2010 4820.37 24.44 6.000 4795.93 0.00
Exhibit "B"
• •4 ~!? DE., 7 OF TRUST (TAXES, INSURANCE AND MAINTENANCE) MARTIN STATIONERY CO., DALLAS ,:~
`rI~E STAT { OF 'TEXAS, j{no~v All Men BV These Presents•
CC: 'JNTY OF JEFFERSON J '
Tlrat ARTHUR SQUARE APARTMENTS, LP, a Nevada limited partnership (successor to
Fairway Plaza, LLC by conversion) and authorized to transact business in 7Cexas
under the name. 2006 Arthur Square Apartments, LP
of ~euatg•r '~'s~-~-, hereinafter called "Debtors" whether one or more masculine,
feminine or neuter, in consideration of the debt hereinafter described and the further consideration of the uses, purposes and
trusts herein set forth, have, granted, bargained, sold, aliened, conveyed and confirmed, and by these presents do grant, bar-
gain, self, alien, convey and confirm unto Stephen Fitzgibbons, in his capacity as City Manager
of the City of Port Arthur, Texas
(hereinafter called "Trustee") .and his successors and/or substitutes in trust as hereinafter provided, all of the Collowing
described property, lying and situated in t'he County of Jefferson in the State of Texas, to-tvit:
~~ Lots Numbered Eleven and Fourteen (11 & 14), in Block No.
:~ One (1)-of FOSTER VILLAGE SUBDIVISION, in Jefferson County,
Texas, as the same appears upon the map or plat thereof, on
`~~ file and of record in Volume 11, page 50 Map Records of
::~
`=~ Jefferson County, Texas.
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together with all improvements thereon, or hereafter to be placed thereon, and all and singular the rights and appurte-
nances to the same belonging or in anywise incident or appertaining.
TO E[AVE AND TO HOLD unto tl~e Trustee, and to his successors and his and their assigns forever, hereby cov-
enanting and agreeing to forever warrant and defend the premises aforesaid, and every part thereof, unto the Trustee and to
his successors in trust and his and their assigns against all persons whomsoever lawfully claiming or to claim the same or
any part thereof [or and upon the following trusts, terms and conditions, to-wit:
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Thae, ~,~~>tereas, Debtors arc ;justly indebted to
CITY OF PORT ARTHUR, TEXAS
hereinafter called "Beneficiariies" whethtr one or more, masculine, feminine or neuter, as evidenced by
certain promissory note(s), of even date herewith, executed by Debtors and payable to the order of Benefi.ciarics
at Jefferson County ,Texas, as follows:
$82,800.45 18 Month Installment Agreement at 6 ~ inte-rest,
as per the "Agreement for the Installment Payment of Coast of
Water F;< Sewer" approved per Resolution No. on
2009, and attached hereto as Exhibit "A".
It is agreed that. if default be made in the payment of any principal or interest on ;;aid note, or in the performance of
the covenants or agreements herein contained, or any of them, then at the option of the aegal holder of sai<( note, the whole
of the principal debt herein secured shall become due and payable, and may be collected by suit or by proceedings hereunder,
and it is further agreed that if said indebtedness is not paid when due, and is placed in the hands of an attorney for collec-
tion, or i:E collected through Probate Court, a reasonable amount as provided in said note shall be added as attorney's fees.
It is also agreed that this Deed of Trust covers any and all renewals of the above described indebtedness.
Now, should Debtors make prompt payment of said indebtedness, and pay, or cause to be paid, all other indebted- ° _
ness secured by this conveyance, both principal and interest, as the same shall become due and payable, and: strictly comply
with all the conditions and requirements herein provided, then this conveyance shall become null and void a.nd of no further ~=_-
force or effect, and shall be released at the cost and expense of Debtors. But should Debtors make default in the punctual
payment Hof said ind.ebtcdness, or any part thereof, principal or interest, as the same shall 17ecome due and payable, or should =_
Debtors in any respect fail to keep and perform any one or more of the conditions herein provided to be kept and performed '__°
by Debtors, then, in any such rase, the whole arnount of said indebtedness remaining shall', at the option of t17e holder of said
indebtedness, inunediately mature and become payable (unless otherwise speciF.cally provided herein or in tl':re note or notes ;;
secured hereby) and it shall thereupon, or at any time thereafter, the same, or any part thereof, remaining unpaid, be the ~>.;
duty of the Trustee and of his successor or substitute, as hereinafter provided, on the request of the holder of said indebted- ~'_
ness thereof (which request is hereby presumed) to enforce this trust; and after advertising the time, place (including therein
the County where said real estate shall be sold) and terms of the sale of all of the above conveyed and described property, or z>
any part thereof (the privilege of selling in whole or in part being hereby granted) for at least twenty-one days successively ~-
next before the day of sale, by posting up written or printed notices thereof at the Court House Door of each County, in which
any portion of said real estate shall be situated; and after Beneficiaries or any other ho]der of the indebtedness secured hereby
to which the power of sale described herein is related shall have given written notice of the proposed sale by certified mail '~-'~
~;
to each Debtor obligated to pay such debt according to the records of such holder by depositing such noticr, enclosrd in a >~
postpaid wrapper, properly addressed to such Debtor at the most recent address as shown on the records of the holder of the "'''
~~~.
debt, in a Post Oflir_e or ofl"icial depository under the care and custody of the United States Postal Service for a period of S {
at least twenty-one (21) days preceding the date of sale designated in said notice (the affidavit of any person having knowl- ~__;
to sell
edge of the facts to the effect that such sen~ice was completed shall be prima facie evidence of the fact of service), '"D`
~~;
the same, in accordance with such advertisement, at public auction, at the Court House Door of the Country so designated ==='
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as the place of sale in said notice of sale, on the first Tuesday in any month between the hours of ten o'clock A.M. and :
~? •,
four o'clock P.M. to the highest bidder for cash, selling all property above conveyed as an entirety or in parcels as the -
Trustee may elect, and make due conveyance to the purchaser or purchasers, with general warranty, binding the L>ebtors `'~~
~•.
and their Heirs and assigns; and, out of the money arising from such salt, the Trustee acting shall pay: first, ;all the expenses ~'•:
r"`
of advertising sale and conveyance, including a commission of five per cent to himself, and 'then to the holder of said indebted- d
ness, the full amount of principal and interest due and unpaid err said indebtedness, as hercinbefore set forth, and all taxes,
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assessments, insurance premiums or other advancements made, as provided for herein, with interest thereon„ rendering the ~`
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balance of the purchase money, ilE any, to the Debtors, their heirs or assigns; and said sale shat: forever be a pcrpeteial bar ~~.
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atyainst th<: Debtors, their heirs :rnd assigns, and all other pcrsorts claiming under any of them. It is expressly agreed that ~1
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the recitals in the conveyance to the purchaser shall be full evidence of the truth of the matters therein stated, and all pre- =:
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requisites +to said sale shall be presumed to (rave been per formed. The holder of said indebtcdrtess shall have equal rights ~~
to become the ourchaser at such ;sale, being the highest bidder. <a;•:
In case of absence, death, inability, refusal or failure of the Trustee herein named to act, or if Beneficiaries should for
any reason whatsoever desire to have another party act as Tnrstec hereunder, a successor aind substitute may he named, con-
stituted and appointed by the holder of said indebtedness, without other formality than an appointment and designation in
writing; and this conveyance shall vest in him, as Trustcc, the estate and title in all said premises and he shall thereupon
hold, possess and execute all the title, rights, powers and duties herein conferred on said Trustee named, and his conve;Vance
to the purchaser shall be equally valid and effective; and such right to appoint a successor or substitute Trustee shall exist
as often and whenever from any of said causes, any Trustee, original or substitute, cannot or will not act or if Beneficiaries
should desire further substitutes for any cause.
It is ,agreed and stipulated that Debtors shall and will at their own proper cost and expense, kccp the property and
;~i premises herein described, and upon which a lien is hereby given and created, iu good repair and condition, and to pay and
-may discharge as they arc or may become payable, all taxes and assessments that are or may become payable thereon under any
'.-~? law, ordinance or regulation, whether made by Federal, State, Municipal or any other taxing aulhority, and shall kccp said
?-c~ property fully insured in some company or companies approved by the holder of said indebtedness, to whom the loss, if any
i_~i shall be payable, and by whom the policies shall be kept. And in case of default made by Debtors in performance of any of
?`~ the foregoing stipulations, the sauce may be performed by the holder of said indebtedness, for account and at the expense of
;:~a Debtors, and any and all expenses incurred and paid in so doing shall be payable by Debtors to holder of said indebtedness
~~~ with interest at the highest lawful rate per annum permitted thereon in Texas from the date when the same was so incurred
~~ or paid, and shall stand secured and payable by and under this decd in like manner with the other indebtedness herein men-
::~
:.~ troned, and the amount and nature of such expense and tune when paid shall be held fully established by the a(Iidavit of the
:~ holder of said indebtedness, or the holder's agent, or by the certificate of any Trustee acting hereunder. Prodded, however,
<i that the exercise of the right of advancement shall in nowise be considered or constitute a waiver of the right of the holder
~~~ of said indebtedness to declare same, and all other indebtedness hereunder to be at once due and payable in the manner
-~~ provided herein.
IT IS UNDI'RSTOOD AND AGREED, that where the phrase, "highest lawful rate (of interest) per annum per-
mitted thereon in Texas", oc words of like import is used herein, the rate of interest shall be that rate payable on alI ;past
due principal and all past due interest as set out in the note, or other debt instrument, hereby secured.
I'I' IS ESPECIALLY AGREED that when, as and if any accelerated maturity of any item secured b}~ this instrument
may be declared due under any term of this or any other paper evidencing the debt or any part thereof, that the maximum
amount that can be co]Iected for or on account of the debt shall be the principal amount thereof and interest accrued to the
date of payment, riot to exceed tb~~e highest lawful rate per annual permitted thereon in Texas. That if any possible con-
struction of any and ,all of the papers may scan to indicate any possibility of a different power given to the cn°ditor or aJry
authority to ask for, demand, or receive any larger rate of interest the parties covenant that same is a mistake in calcula'tio^
or wording which this clause is intended to override and control.
IT IS FURTHER AGREED that, in the event of a foreclosure under the power granted hereby, the owner in posses-
sion of said property, or any one claiming under him and in possession as tenant or otherwise, shall thereupon become the
tenant at will of the purchaser at >uch foreclosure sale, and should such tenant refuse to surrender possession of said property
upon demand, the purchaser shall thereupon be entitled to institute and maintain the statutory action of forcible entry and
detainer, and procure a writ of possession thereunder.
WITNESS hand this day of , A.D.
GRANTOR:
ARTHUR SQUARE APAR'.TMENTS, LP, A Nevada
limited partnership (successor to Fairway
Plaza, LLC by conversion) and authorized
to transact business in Texas carder the
name 2006 Arthur Slquare Apartments, LP
By: Elite Investments Group, Inc., ,~
Nevada corporation, authorized ~~to
transact business in Texas under the
name 2007 Elite Investments Group,
Inc., general. partner
By:
Name: Tomas Schoff
Title: President
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ACKNOWLEDGEMENT
THIE STATE OF §
COUNTY OF §
This instrument was acknowledged before me on this day of
_ 2009, by Tomas Schoff of Elite Investments Group,,
Inc., a Nevada corporation, authorized to transact business in Texas
under the name 2007 Elite Investments Group, Inc., on behalf of said
corporation, ger.~eral partner on behalf of ARTHUR SQUARE APARTMENTS,
LF~, a Nevada limited partnership (successor to Fairway Plaza, LLC by
conversion) and authorized to transact business in Texas under the
name 2006 Arthur Square Apartments, LP.
GIVEN UNDER MY HAND AND SEAL OF OFFICE, this the day oi=
A.D, 2009.
NOTARY PUBLIC, STATEI OF TEXAS
APPROVED TO AS T'O FORM:
CITY ATTORNEY
RETURN TO:
City of Port Arthur
Legal Department.
P. O. Box 1089
Port Arthur, TX 77641-1089
18 MONTH INSTALLMENT AGREEMENT
NAME Arthur Square Apartments. LP
Elite GP1 iCorporation, General Partner
Tomas Schoff, President of General Partner
Address: 1600 Main Avenue
Port Arthur, Texas 77642
Phone:_ 916-284-4825
Port Arthur, Texas 77640
Water, Sewer and Garha__ge___ $
No. of~ Months 18
Date: 2/11/09
82,800.45
Account No. 105403-88736
105703-88734
1.05403-88732
105403-88722
105403-88724
AGREEMENT FOR THE INSTALLMENT
PAYMENT OF COST OF WATER & SEWER
STATE OF TEXAS
COUNTY OF JEFFERSON
Since you have requested to pay the costs of Water and Sewer, plus interest (`Delinquent Amounts.~~) in
installments; and
Since the City of Port Arthur is willing to allow you to pay the Delinquent Amounts in
installments; then, because of the city's agreement to let you pay the Delinquent Amounts
installrnents and your agreement to pay the Delinquent Amounts and the accrued inte,~rest as
denoted in Exhibit "A", you and the City agree as follows:
******* Please Read. and Initial that you Understand EACH PARAGAPH ******
(~~) 1. Installment Payments. You will pay $21,188.76 at the time of your
<.>igning this agreement which represents ten (20%) percent of the amount
EXHIBIT "A"
the term of this Agreement, interest will continue to accrue on the unpaid
amounts. Prior to the last payment, you must check with the Finance Department to
determine the final amount due.
(~~) 2 Suit. At the time you sign this agreement, you acknowledge that suit has
NOT been filed on this account. If you fail to make ;payments as set out is
paragraph 1 above, the City may immediately initiate suit to collect all
amounts due on this account including interest and cost of collection,
attorney's fees, or any other collection remedies available to the Citv of fort
Arthur. J
(~~S ) 3 Abatement. In the event you do not make the agreed on payments, this
agreement will become null and void IMMEDIATELY.
(~-~~S) 4 Events of Default. It will be an event of default under this Agreement if:
a. You fail to make the payments in the amounts and on the dates
required by Paragraph 1.
(~~S) 5 Once the installment agreement is fully paid, the City will release the lien
that it has filed on the property.
YOU UNDERSTAND AND .AGREE THAT BY SIGNING TF[IS AGREEMENT'
YOU ARE IRREVOCABLY ADMITTING YOUR PERSONAL LIABILITY FOR
THE DELINQUENT AMOiJNT.
Executed this _L~ ~ _day of _ b rkct Z(~p`~
City of Port Arthur
r~ ~ ~c~~u~ ~ P~~~,~
Name: ~ ~ i -E-2 /(~ P~ Go-rP, (~ ere.t-a1 P~cr'~her
Debtor
By
Finance Department
Approved by:
NOTE: PAYMETITS SHOULD BE MAILED TO:
City of Port Arthur
Finance Department
P. O. Box 1089
444 4t" Street
Port Arthur, Texas 77641
UA/WORD/IIVSTALLMBNT AGRGGMGNT-Arthur Sq
Interest Vision
Amortization Schedule
Lo~~n or Annuity Variables:
Start Date: Feb 10, 2009 End Date: Aug 10, 2010
Start Pa yment : Feb 10, 2009 No. of Payments: 18
Start In terest: Feb 10, 2009 Interest Rate: 6.0000
Payment Freq. : Monthly Initial Principal: $82800.45
Compound Freq.: Monthly Payment Amount: $4!320.3`7
Da~Ts in Mo./Yr. Actual No. Balloon: $0.00
Pa~~ment Mode: In Arrears Amortization Met hod: Simple :Int.
Payment Interest Interest
No. Date Amount Amount Rate/Yr. Principal Balance
F'eb 10, 2009 0.00 0.00 0.000 0.00 82800.45
1 NTa~r 10, 2009 4820.37 381.11 6.000 4439.26 78361.19
2 Apr 10, 2009 4820.37 399.32 6.000 4421.05 73940.13
3 May 10, 2009 4820.37 364.64 6.000 4455.74 69484E.39
4 Jun 10, 2009 4820.37 354.08 6.000 4466.29 65018.11
5 ~~"ul 10, 2009 4820.37 320.64 6.000 4499.74 6051F3.37
6 Auq 10, 2009 4820.37 308.39 6.000 4511.98 56006.39
7 ~~ep 10, 2009 4820.37 285.40 6.000 4534.97 5147]_.42
8 Oct. 10, 2009 4820.37 253.83 6.000 4566.54 46904.88
9 I~fov 10, 2009 482() . 37 239.02 6.000 4581.35 423<?3 . 53
1.0 Dec 10, 2009 4820.37 208.72 6.000 4611.65 3777_.87
1.1 Jan 10, 2010 4820.37 192.18 6.000 4628.20 33083.67
12 F'eb 10, 2010 4820.37 168.59 6.000 4651.78 2843]_.89
13 N[ar 10, 2010 4820.37 130.86 6.000 4689.51 23742.38
14 A,pr 10, 2010 4820.37 120.99 6.000 4699.38 1904_4.00
15 Nfay 10, 2010 4820.37 93.91 6.000 4726.46 14316.54
16 furl 10, 2010 4820.37 72.96 6.000 4747.42 95F;9.12
17 Ju]_ 10, 2010 4820.37 47.19 6.000 4773.18 4795.93
18 P.uq 10, 2010 4820.37 24.44 6.000 4795.93 0.00