Assumed Annual Debt Service

Assumed Annual Debt Service. The principal and interest for a 12-month period that would be due on a loan equal to the outstanding principal balance of the Loan amortized in substantially equal monthly payments at an assumed rate of interest at the then current Standard Note Rate or six percent (6%) per annum, whichever is greater, and payable over an assumed term of 360 months or, if any rate swap, rate cap, rate collar or other interest rate hedge reasonably satisfactory to Lender is in effect for the entire Loan, the... rate equal to the established rate (if fixed) or highest rate (if capped) pursuant to the rate swap, rate cap, rate collar or other interest rate hedge View More