Common use of Prepayment Privilege Clause in Contracts

Prepayment Privilege. The following prepayment privileges may be used in the same year. The exercising of either privilege will not affect any of the Borrower's obligations under this Mortgage including the continuing regular loan payments as to Indebtedness or due date. Privileges are not cumulative and may not be carried over from one year to the next.

Appears in 2 contracts

Sources: Mortgage, Mortgage