Civil Code § 1917.713

1917.713.

Each lender making a shared appreciation loan for seniors shall additionally furnish to the prospective borrower, prior to consummation of the loan, a statement containing the following information:

IMPORTANT INFORMATION ABOUT YOUR SHARED APPRECIATION LOAN FOR SENIORS

You are being offered a shared appreciation loan. Before you decide to accept this loan, read this statement, which is designed to provide important information you should consider.

1.Prevailing interest rate: __%.

2.Stated interest rate on this loan: __%.

3.Projected contingent interest: __%.

4.Initial amount of this loan: $__.

5.Amount of the monthly annuity payments you will receive: $__.

6.Projected term of this loan: __ years.

7.Projected total loan obligation you will have to pay, assuming the loan continues to the end of the “borrower’s” life expectancy: $__.