Reso 2010-1538 - Laserfiche WebLink

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jll~ SUNTRusr ADDENDUM Bankts Standard Prepayment Lanl!ual!e: Upon two Business Days' prior written notice to SunTrllst, the BOlTower may prepay amounts owing under the Note at any time and from time to time, Such prepayment notice shall speciry the amount of the prepayment which is to be applied. In the event of prepayment, the Borrower may be required to pay SunTrust an additional fee (8 prepayment charge) determined in the manner provided below, to compensate SunTrust for all losses, costs and expenses incurred in connection with such prepayment. The fee shall be equal to the present value of the difference between: (1) the amount that would have been realized by SunTrust on the prepaid amount for the remaining term of the loan at the Federal Reserve B.IS Statistical Release rate fOl' fixed-rate payers in interest "ate swaps for a tenn cOlTesponding to the term of the Note, interpolated to the nearest month, if necessary, that was in effect three Business Days prior to the origination date of the Note and (2) the amount that would be realized by SUIlTJ'ust by reinvesting such prepaid funds for the remllining term of the loan at the Federal Reserve H.IS Statistical Release rate for fixed-rate payers in interest rate swaps, intel'polated to the nearest month, that was in effect three Business Days prior to the loan repayment date; both discounted at the same interest rate utilized in determining the applicable amount ill (2). Should the present value have no value or a negative vahle, the Borrower may repay with no additional fee. Should the Federal Reserve no longer release rates for fixed-rate payers in interest rate swaps, SunTrust may substitute the Federal Reserve H.15 Statistical Release with another similar index. SunTrust shall provide the Borrower with a written statement explaining the calculation of the premium due, which stlltement shall, in absence of manifest error, be conctusive and binding.