Fixed Rate Advances. You can obtain credit advances for 120 months (the draw period). During the draw period, payments will be due on a monthly basis. During the draw period, your minimum periodic payment for fixed rate advances will be established at the time of each such advance to the amount necessary to fully amortize your then outstanding fixed rate balance over the time designated by you (the length of which may be restricted in part by the amount of such advance or the method in which it was obtained). Your specific minimum periodic payment, estimated repayment term, daily periodic rate and corresponding annual percentage rate for fixed rate advances will be disclosed to you at the time of each such advance on a separate page titled "Home Equity Line of Credit Fixed Rate Advance Voucher." The daily periodic rate and corresponding Annual Percentage Rate will depend on financial factors such as your credit qualifications and property value in relationship to the amount you owe, and will not exceed a maximum, which will be the lesser of: (A) the sum of the highest Prime Rate published in The Wall Street Journal in effect on the date of your fixed rate advance, plus a margin; or (B) 18.00%. After the draw period ends, you will no longer be able to obtain credit advances and must pay your outstanding balance. The length of the repayment period will depend on the date of your advance along with the period of time that such advance is amortized, but in no event will exceed 180 months. During the repayment period your minimum periodic payment will be calculated in the same manner as during the draw period.
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