← 9 Country Club Ln N, Briarcliff Manor, NY 10510 · All properties

UBS Loan Terms - 9 Country Club Lane N.md

This page is a searchable text preview. Use the Dropbox link for the full original file.

Open full file in Dropbox

Text Preview

# UBS Loan Terms - 9 Country Club Lane N

Source: `Loan Agreement - 9 Country Club Ln N, Briarcliff Manor, NY 10510.pdf`

This file is a machine-readable summary of the signed note. The signed PDF controls if any summary wording conflicts with it.

## Current Payment Structure

- Original principal: **$1,200,000.00**.
- Initial interest rate: **2.875% annually**.
- Initial scheduled monthly payment: **$2,875.00**.
- The initial monthly payment is **interest only**. It does not include principal, property taxes, insurance, or other charges.
- First monthly payment due date: **January 1, 2022**.
- Initial fixed rate changes to an adjustable rate on **December 1, 2031**.
- First scheduled principal-and-interest payment: **January 1, 2032**, the tenth anniversary of the first payment due date.
- Maturity date: **December 1, 2051**.

## Signed Note References

- PDF page 2, Sections 2 and 3(A): principal, initial interest rate, January 1, 2022 first payment date, and December 1, 2051 maturity.
- PDF page 2, Section 3(B): $2,875 initial monthly payment and explicit statement that it includes no principal, taxes, or insurance.
- PDF page 2, Section 4(A): December 1, 2031 first adjustable-rate change date.
- PDF page 3, Section 4(H): first principal-and-interest payment is the tenth anniversary of the first payment due date.

## Accounting Treatment

The main UBS mortgage should be treated as a monthly interest-only obligation during the current period. No scheduled UBS principal payment is due before January 1, 2032. The separate NBT solar loan is amortizing and must not be conflated with the UBS mortgage.