Common use of Fixed and Fully Amortizing Payments Clause in Contracts

Fixed and Fully Amortizing Payments. i) Confirm that the Contract requires a fixed payment amount that is due at identified intervals ii) Confirm that the number and amount of payments fully amortize the Amount Financed by maturity and pay finance charges at the Annual Percentage Rate iii) For any Contract with the heading Note and Security Agreement, skip procedure F) ii) and instead confirm that the total of all payments is accurate based on the Amount Financed and the stated interest rate(s).