REPAYMENT AGREEMENT ADDENDUM
NATALIE M. WILLIAMS, herein after called the
Borrower, has made a written request to continue repayment of her Loan for
Disadvantaged Students (LDS), 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 Loan for Disadvantaged
Students
Annual Percentage Rate 5.00%
Finance Charge $ 698.65
Amount Financed $ 8,581.61
Total Payments $ 9,280.26
Payment Amount $ 250.00
Payment Frequency Monthly
Number of Payments 38
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 Loan for Disadvantaged Student
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:
______________