By signing this agreement, I (we) understand that I (we) am (are) enrolling into a Skip-A-Payment club. I (We) understand that there is a $35 fee to become a member of this club. With membership into this club, I (we) understand that I (we) have the option to skip one of my (our) loans during the length of our membership in this club. I (we) understand that the membership fee is for one (1) loan, and that the membership is valid for 60 days. I (We) understand that the terms and conditions of my (our) loan agreement will apply except that there will not be a regular monthly payment required during the month selected as my (our) Skip-a-payment month. This month will be the month indicated checking the box above. My (our) regular monthly payment will resume after the Skip-a-payment month. I (We) understand that finance charges will continue to accrue during the deferral period; that the deferral of my (our) regular payments will result in my (our) having to pay higher total finance charges; that a skipped payment may reduce any GAP claim on insured loans; and that my (our) loan repayment term will be extended. I (We) also understand that Superior Credit Union reserves the right to terminate this offer if my (our) financial status changes prior to the Skip-A-Payment month requested by me (us). This offer does not apply to any real estate loans, any loans over $75,000.00; any loan less than 180 days old; any loan which has been delinquent for more than 30 days. I (We) understand that the Skip-A-Payment request must be received at least five business days prior to the scheduled due date of my loan. I (We) understand that one (1) skip a pay can be done per calendar year per loan.