REPAYMENT AGREEMENT ADDENDUM 

 

 

NATALIE M. WILLIAMS, herein after called the Borrower, has made a written request to continue repayment of her Health Professions Student Loan, Account Number { NUMBER }. The effectiveness of this Repayment Agreement is conditioned upon the dismissal of the chapter 13 bankruptcy case filed by Natalie Williams in the United States Bankruptcy Court for the Southern District of New York, Case No. 01-40029 (RDD). 

 

This new Repayment Agreement is being negotiated between The University of Medicine and Dentistry of N.J. (hereinafter called ÒLenderÓ) and the Borrower. The provisions of the original promissory note will remain in effect under this repayment agreement addendum with the exception of the new monthly payment amount, repayment term, and availability of deferment and forbearance options. The borrower may at her option, and without penalty, prepay and/or pay out this loan. 

 

 

The borrower agrees to the following new terms: 

 

Loan Type    Health Professions Student Loan

 

Annual Percentage Rate     5.00%

 

Finance Charge      $ 1,335.21

Amount Financed    $11,672.69

 

Total Payments     $13,007.90 

 

Payment Amount    $ 250.00

 

Payment Frequency     Monthly

 

Number of Payments     53

 

First Payment Due Date    July 1, 2005 

 

All Payments will be due on or before the first (1st) day of every month beginning July 1, 2005. The Borrower will remit all payments to UMDNJ- Student Loan Department 335 George Street 4th Fl. New Brunswick, NJ 08901. 

 

Failure to comply with the terms of this agreement and the original promissory note will result in the loan being forwarded to an outside collection agency or sent to an attorney for litigation by the lender. The Borrower will then be responsible for all collection cost, including interest, court costs and attorney fees. 

 

I, Natalie M. Williams, attest that I have read, understand and agree to all the terms of the original promissory note and agree to the terms of this Repayment Agreement Addendum for my Health Professions Student Loan stated above.  

 

 

I, Natalie M. Williams further agree to provide the Lender with any changes of my address and/or telephone number.  

 

 

BorrowerÕs Signature ________________________________ Date: ______________