. ' e CREDIT AGREEMENT e | Caan ferences in the shaded area ra for our use only and do not int the applieablity of this dooument xo eny particular loan ot em, “Any tam above containing “***~ has boon omitted due o ext length lmtations Borrower: Laurance Schnelder Lender: Bank of Cora! Gabler 41721 NE 198 Terraceh Lending Divicon (Mier, L319 98 erik Way Suite 108 Coral Gables, FL 33134 (30s) 500-3601 CREDIT LIMIT: $1,500,000.00 DATE OF AGREEMENT: July 28, 2008 Promise te Pay. You promise to pay Bank of Coral Gables or order, the tot! of al eect advances and "FRVANCE CHARGES, together wit all costs ond expenses Tor which you er respansibla under tis Agreement or undor the "Mortgage" which secures your Cred Line, You wil poy Your Cre Line eecording to the peyment terms et forth below. I there Ie more than one Borrow greomeat.°"This meane we can require any Borrower to pay il amourte due under this Agreement including eredt advances made to Sn rower. Eech Borrower authrizs any other Borrower, on hs or her signature slone, to cancel the Crd Lne, to raquest and rocave credit vances, ond to do al ther things necessary to carey out the ferme of this Rorement. Wp can relesee any Borrower, tm rexponsty under {hs Rgrecment, andthe others wil remain responsible Term. The tor of your Credt Line will Hopin as of the date of this Agreement ("Opening Date") and will continue untl July 28, 2016 (atuity Date"). Al ndebtedness under this Agreement, if not already peld pursuant to the payment provisions below, wil be due snd payable upon maturity. The draw period of your Crelt Line wil begin on date, after the Opening Date, when the Agresment is eccopted by us in the State of Frida, following the expiration of the right fo cancel, the perfection of the Mortgage, the receipt ofall required cetifates of onesnealaion, and the mecting of all of aur ether conditions nd wll continue a folowe: ‘arm of the loun. You may cba eat edvances Goring tls petiog "Draw Pari"). You epres that we may renew of extend the pariad during which you my obteln eet advances or make payments. Youurther spree that we may renew or extand your Cred Line Account Minimum Payment. Your “Regular Payment® will equal the amount of your accrued FINANCE CHARGES. You will moke 119 of these payments. You wil thon bo rauired to pay the ene balance owing In tingle Balloon payment. If you make only the mmum payments, you fray not repay any of the principal Balance by the end of this peyment steam. Your payments wil be due monthly. Your “Minimum Payment Wall be the Reguler Payment, plus any amount dus and all ether charges. "An insreare M the ANNUAL PERCENTAGE RATE may inrease the {Epaintef your RevularPeyment. You sare to poy not las than tha nimum Payman on or before the ve date idested on your periodic a statement. i Batoon Payment. Your Credit Line Account is payable In fll upon murity in single beloon payment. You must pay the entke outstanding principal, intrest and any other charges then due. Unlese otherwise required by applcable Taw, we are under no obligation to refinance the Ealoon payment at that tine. You may be raguled to make paymants out of other aesete You own or find a lender, which maybe us, wing fo lend you'the money. If You refinance the balloon, you mey have to pay rome oral ofthe closing coste normaly assoclated witha new cree Tew sceount, even if you obtain retinanelag from us. How Your Payments Are Apolies. Unless otherwise agreed or required by apploaba law, payments and other eed wil be applied to Payments wil be applied in the folowing order: Interest, Prinepa, Late Fees Callacton Costs Recaipt of Payments, Al payments must be made by 9 check, autgmadc account debit, electronic funds transfer, money order, o* other instrument ia US. delars snd must be recsived by us et the omitance edarese shown on Your period biling statement. Payments received at that address prior to 2:00 p.m. Eastern Stondard Time on any business doy wil be oredted to your Crdit Line as ofthe date receive. if we ‘ecsive payments at other lactions such payments will be erated promptly to Your Creat Line, but crediting may be delayed for up to five (8) ‘oye ator recelot. Credit Lint, This Agresmant covers # evolving tine of credit forthe principe! amount of One Nillon Five Hundred Thousand & 00/100 Dollars {¢1.800,000,00), which wit be your “Credit init under this Agreomant. Durlag the, raw Perlod we wil honor your request for ereit ‘adVances subject othe section below on Lenders Rights. You may borrow against tho Cre Line, repay sny portion ef the emount borrowed, nd reborrow upto the emount of the Credit Limit. Your-Gredi-Limit i the maximum amount You may have outatonding et any ene tna. You fagiee not to etter, request, or obtain a redt advance that wll make your Crodt Lina Account balance exceed your Credit Link, Your Credit init wit net be increased should you overdraw your Gre Line Account. Ifyou exceed your Crest init, You agree to repey immediately the mount by which your Credit Line Account exceeds your Credit Lit, even If we have not Yet bile You. Any eredt advances In excess of Your Credit Lint wil not be secured by the Mortgege covering Your principal ewig, Chorges to voUr Credit Line, We mey charge your Credit Line to pay other feos and costs thet you are bligited to pay under tis Agreement, the Mortgage or eny other document related to your Credit Line, In acon, we may cherge Your Crit Une for funds require for eontinuing Ineuranee coverage as decribed Inthe paragraph ted "insurance" below or as described inthe Moctgoge for ths transaction, We may sao, st ‘ur option, charge your Credit Line to pay any costs or expenses to protector perfect our security itorast in your principe dwn. Tho foster expenses includ, without finitatlon, payments to cure defaults under any exating fers on Your principal dwellng. Ifyou do not pay ‘Yow property taxes, we may cherge your Credit Line and pay the delinquent taxes, Any amount s0 cherged to your Credit Line ill be a ert ‘tivance aod vill docresse the funds ovallble, if any, under the Cred Line. However, we have no obligation to provide any of the crest ‘Sdvancusrafetred to In tis paragraph Credit Advances. Aor the Effective Disbursement Date ofthis Agreement, you may obtah eredt advances under your Cre Line as follows: Crest Line Checks. Writag « prepintod "Horne Equity Line of Cradt Check" shat we Wil supply to you. Fpquests By Mall. Requesting an advance by mi ppnnetiegeste in Person. Requesting & creit advance in person at eny of our authrized lotion. Request. Advence requests can eso be sent we fax.