Amendment No. 5 to Schedule 13D

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

SCHEDULE 13D Under the Securities Exchange of 1934 (Amendment No. 5)* Cascade Bancorp
(Name of Issuer) Common Stock, no par value
(Title of Class of Securities) 147154108
	(CUSIP Number) Mark J. Menting, Esq. Sullivan & Cromwell LLP 125 Broad Street New York, NY 10004
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) October 29, 2009
	(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13-1(g), check the following box. [_]

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 147154108

1	NAME OF REPORTING PERSONS. David F. Bolger
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)			(a) [_] (b) [X]
3	SEC USE ONLY
4	SOURCE OF FUNDS (SEE INSTRUCTIONS) OO, BK, WC
5	CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)			[_]
6	CITIZENSHIP OR PLACE OF ORGANIZATION Florida, USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7	SOLE VOTING POWER 2,542,664
		8	SHARED VOTING POWER 920,380
		9	SOLE DISPOSITIVE POWER 2,542,664
		10	SHARED DISPOSITIVE POWER 920,380
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,463,044
12	CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)			[_]
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 12.3%
14	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN

SCHEDULE 13D

CUSIP No. 147154108

1	NAME OF REPORTING PERSONS. Two-Forty Associates, a Pennsylvania Limited Partnership
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)			(a) [_] (b) [X]
3	SEC USE ONLY
4	SOURCE OF FUNDS (SEE INSTRUCTIONS) OO
5	CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)			[_]
6	CITIZENSHIP OR PLACE OF ORGANIZATION Pennsylvania, USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7	SOLE VOTING POWER 0
		8	SHARED VOTING POWER 192,321
		9	SOLE DISPOSITIVE POWER 0
		10	SHARED DISPOSITIVE POWER 192,321
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 192,321
12	CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)			[_]
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.7%
14	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN

SCHEDULE 13D

CUSIP No. 147154108

1	NAME OF REPORTING PERSONS. The David F. Bolger 2008 Grantor Retained Annuity Trust
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)			(a) [_] (b) [X]
3	SEC USE ONLY
4	SOURCE OF FUNDS (SEE INSTRUCTIONS) OO
5	CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)			[_]
6	CITIZENSHIP OR PLACE OF ORGANIZATION Florida, USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7	SOLE VOTING POWER 0
		8	SHARED VOTING POWER 728,059
		9	SOLE DISPOSITIVE POWER 0
		10	SHARED DISPOSITIVE POWER 728,059
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 728,059
12	CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)			[_]
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.6%
14	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) OO

SCHEDULE 13D

CUSIP No. 147154108

1	NAME OF REPORTING PERSONS. The David F. Bolger 2008 Nongrantor Charitable Lead Annuity Trust
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)			(a) [_] (b) [X]
3	SEC USE ONLY
4	SOURCE OF FUNDS (SEE INSTRUCTIONS) OO
5	CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)			[_]
6	CITIZENSHIP OR PLACE OF ORGANIZATION Florida, USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7	SOLE VOTING POWER 0
		8	SHARED VOTING POWER 2,526,955
		9	SOLE DISPOSITIVE POWER 0
		10	SHARED DISPOSITIVE POWER 2,526,955
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,526,955
12	CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)			[_]
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9%
14	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) OO

Item 1.

Security and Issuer

This Amendment No. 5 to the Statement on Schedule 13D (the “Amendment No. 5”) amends the Statement on Schedule 13D originally filed on April 27, 2006, as amended by Amendment No. 1 to the Statement on Schedule 13D filed on September 8, 2006, Amendment No. 2 to the Statement on Schedule 13D filed on June 3, 2008, Amendment No. 3 to the Statement on Schedule 13D filed on April 3, 2009 and Amendment No. 4 to the Statement on Schedule 13D filed on June 1, 2009 (together with Amendment No. 1, Amendment No. 2, Amendment No. 3 and Amendment No. 4, the “Initial Schedule 13D”), and relates to the common stock, no par value (the “Common Stock”), of Cascade Bancorp, an Oregon corporation (the “Company”). The address of the principal executive offices of the Company is 1100 NW Wall Street, P.O. Box 369, Bend, Oregon 97709.

Except as specifically amended by this Amendment No. 5, the Initial Schedule 13D, as amended by this Amendment No. 5, remains in full force and effect. Capitalized terms used but not defined herein have the meaning assigned to them in the Initial Schedule 13D.

Item 3.

Source and Amount of Funds or Other Consideration

Item 3 is hereby amended by adding the following after the final paragraph thereof:

On October 16, 2009, TD Bank, N.A. (“TD Bank”) provided Mr. Bolger and The David F. Bolger Revocable Trust with a Commitment Letter (the “Commitment Letter”), pursuant to which TD Bank agreed, subject to certain terms and conditions, to provide funding to Mr. Bolger of up to $20 million in connection with the purchase of Common Stock under the Bolger Purchase Agreement as defined and described in Item 4 below. The remainder of the purchase price under the Bolger Purchase Agreement will be funded by Mr. Bolger’s working capital.

The foregoing description of the Commitment Letter does not purport to be a complete description of all of the terms of such letter. The Commitment Letter is incorporated by reference as Exhibit 16 to this report, is incorporated herein by reference and the foregoing description is qualified in its entirety by reference to the full text of the letter filed as an exhibit hereto.

Item 4.

Purpose of the Transaction

Item 4 is hereby amended and restated as follows:

The Reporting Persons have acquired beneficial ownership of the shares of Common Stock as described in this Schedule 13D for investment purposes.

Except as set forth below, as of the date of this Amendment No. 5, none of the Reporting Persons has any present plans or proposals which would result in or relate to any of the actions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D.

In accordance with the terms of the governing instrument of the CLAT, the CLAT is obligated to make an annuity payment to the Valley Hospital Foundation in Ridgewood, New Jersey in an amount equal to 21.96% of the initial fair market value of the property transferred to the CLAT in each taxable year of the CLAT. In order to make such a payment, the CLAT will transfer shares of Common Stock to the Valley Hospital Foundation. Mr. Bolger may purchase the shares of Common Stock transferred to Valley Hospital at a price and on terms to be agreed at the time of any such purchase.

On the date preceding the fifth anniversary of its creation, the CLAT will terminate and it will transfer any remaining assets to The David F. Bolger 2008 Irrevocable Family Trust (the “IFT”). The IFT will, in turn, immediately distribute those assets to separate trusts established for the benefit of each of Mr. Bolger’s three children.

In accordance with the terms of the governing instrument of the GRAT, on each anniversary of the creation of the GRAT, it will make an annuity payment to Mr. Bolger of the Common Stock or cash with a value on such annuity date as follows:

	•	First annual payment: 14.9235000% of the initial fair market value of the GRAT.
	•	Second annual payment: 17.9082000% of the initial fair market value of the GRAT.
	•	Third annual payment: 21.4898400% of the initial fair market value of the GRAT.
	•	Fourth annual payment: 25.7878080% of the initial fair market value of the GRAT.
	•	Fifth annual payment: 30.9453696% of the initial fair market value of the GRAT.

The date of each of the above annual payments will be May 29.

Upon its fifth anniversary, the GRAT will terminate and it will transfer any remaining assets to the IFT. The IFT will, in turn, immediately distribute those assets to separate trusts established for the benefit of each of Mr. Bolger’s three children.

On October 29, 2009, the Company and Mr. Bolger (and the other Reporting Persons only with respect to certain sections thereof) entered into a Securities Purchase Agreement for the purchase and sale of $25 million of shares of Common Stock (the “Bolger Purchase Agreement”) to Mr. Bolger. The Bolger Purchase Agreement is incorporated by reference as Exhibit 17 to this report and incorporated herein by reference.

In addition, on October 29, 2009, the Company entered into a Securities Purchase Agreement with an affiliate of Lightyear Fund II, L.P. (“Lightyear”), for the purchase and sale of $40 million of shares of Common Stock to Lightyear (the “Lightyear Purchase Agreement”, and together with the Bolger Purchase Agreement, the “Securities Purchase Agreements”). The total gross proceeds from the sales of Common Stock to Mr. Bolger and Lightyear (the “Private Offerings”) is expected to be $65 million. The shares of Common Stock in the Private Offerings are being sold at a per share purchase price equal to the lesser of (A) $0.87 per share, and (B) the net proceeds per share to the Company in connection with the previously announced Public Offering (as defined
below).

The Company previously filed a registration statement on Form S-1 for the proposed registered public offering of shares of Common Stock (the “Public Offering”).

The Private Offerings are subject to certain closing conditions, including, among others, (i) the completion of the Public Offering and the receipt of aggregate proceeds for the Private Offerings and Public Offering of at least $150 million (net of underwriting commissions and discounts); (ii) receipt of the necessary regulatory approvals by the Company and Lightyear, which will include approval under the Change in Bank Control Act of 1978, as amended, with respect to Lightyear; (iii) receipt of all necessary approvals under the Company’s charter and applicable law (as described below); and (iv) no material amendment or termination of the binding Letter Agreement, dated as of October 26, 2009, entered into by the Company and Cohen & Company Financial
Management, LLC, providing for the repurchase of the Company’s outstanding trust preferred securities.

Subject to certain conditions under the Securities Purchase Agreements, the Company has granted each of Mr. Bolger and Lightyear preemptive rights on any subsequent offering of the Company’s securities at a purchase price of less than 95% of the market price of the Common Stock on the last trading day preceding the date of the Securities Purchase Agreements with respect to such issuance of securities. Mr. Bolger and Lightyear will each have such rights until such time as Mr. Bolger or Lightyear, as applicable, or their respective affiliates, cease to own 5% or more of all outstanding Common Stock.

Under the Securities Purchase Agreements, the Company has granted registration rights to each of Mr. Bolger and Lightyear. Within thirty days of the closing date of the Private Offerings, the Company must file a shelf registration statement covering the registrable securities held by Mr. Bolger and Lightyear, including all securities purchased by each of Mr. Bolger and Lightyear pursuant to the Securities Purchase Agreements. In addition, each of Mr. Bolger and Lightyear have piggy-back registration rights, pursuant to which they may
include registrable securities held by them in any subsequent registration of securities by the Company, subject to certain conditions.

The Company has also agreed to take all necessary action to eliminate or minimize the effect of any anti-takeover laws, including anti-takeover provisions of the Company’s Articles of Incorporation, on the Private
Offerings. In addition, so long as either Mr. Bolger or Lightyear owns at least 5% of the outstanding Common Stock of the Company, the Company has agreed not to enter into any poison pill agreement, stockholders’ rights plan or similar agreement, unless such agreement contains an exemption for each of Mr. Bolger, Lightyear and their affiliates.

A special meeting of the Company’s shareholders will be held to approve the issuance of $65 million in Common Stock pursuant to the Private Offerings and to approve an amendment to the Company’s Articles of Incorporation to increase the number of authorized shares of Common Stock from 45,000,000 to 300,000,000.

According to the preliminary Proxy Statement filed on Schedule 14A by the Company on October 29, 2009, the Board of Directors of the Company has unanimously approved each of the Private Offerings and the amendment to the Articles of Incorporation.

Each of Mr. Bolger and Lightyear have agreed with the Company and Keefe, Bruyette & Woods, Inc., the managing underwriter for the Public Offering, subject to certain exceptions, not to dispose of their Common Stock or securities convertible into or exchangeable for shares of Common Stock until the
90th day after the closing of the purchase of Common Stock and the Public Offering as contemplated in the Securities Purchase Agreements, except with the prior written consent of the Company and Keefe, Bruyette & Woods, Inc.

For so long as Mr. Bolger, together with his affiliates, owns at least 10% or more of all of the outstanding shares of Common Stock, Mr. Bolger will have the right to nominate two candidates for election to each of the board of directors of the Company and the board of directors of Bank of the Cascades, as candidates recommended by the board of directors of the Company, unless both of Mr. Bolger’s nominees are still serving as directors on each board and will continue to serve after the relevant election. For as long as Mr. Bolger, together with his affiliates, owns at least 5% but less than 10% of all of the outstanding shares of Common Stock, Mr. Bolger will have the right to nominate one candidate for election to each of the board of directors of the Company and
the board of directors of Bank of the Cascades, as a candidate recommended by the board of directors of the Company, unless Mr. Bolger’s nominee is still serving as a director on each board and will continue to serve after the relevant election.

The foregoing description of the Securities Purchase Agreements is a summary of certain material terms of such agreements and does not purport to be a complete description of all of the terms of such agreements. The Bolger Purchase Agreement is incorporated by reference as Exhibit 17 to this report, is incorporated herein by reference and the foregoing description is qualified in its entirety by reference to the full text of the agreement filed as an exhibit hereto.

There can be no assurances that the conditions to closing in the Bolger Purchase Agreement will be satisfied and that the purchase of Common Stock as contemplated in the Bolger Purchase Agreement will be consummated.

The Reporting Persons will from time to time evaluate their investment in the securities of the Company and may in the future seek to acquire additional securities or dispose of all or a portion of the securities beneficially owned by them or engage in derivative transactions (which may be physically or cash settled) relating to securities of the Company. Any such acquisition or disposition may be effected through privately negotiated transactions, in the open market, in block transactions or otherwise. Derivative transactions may involve the purchase or writing of exchange traded options or entering into over-the-counter derivative transactions; the derivative transactions may increase or decrease the Reporting Persons’ economic exposure to the Company. Any determination to acquire or dispose of securities of the Company or engage in derivative transactions will depend on a number of factors, including the Company’s business and financial position and prospects, other
developments concerning the Company, the price levels at which shares of Common Stock of the Company are traded, general market and economic conditions and the availability of financing and other opportunities available to the Reporting Persons. There can be no assurance that any such acquisition or disposition of securities of the Company or derivative transactions will occur or as to the timing or method of any such acquisition, disposition or transaction.

Item 5.

Interest in Securities of the Issuer

The first paragraph of Section (a) of Item 5 is hereby amended and restated as follows:

(a) See items 11 and 13 of the cover pages to this Amendment No. 5 for the aggregate number and percentage of shares of Common Stock beneficially owned by each of the Reporting Persons. Based on information provided in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2009, as of October 26, 2009 there were 28,159,483 shares of Common Stock outstanding.

Item 6.

Contracts, Arrangements, Understanding or Relationships with Respect to Securities of the Issuer.

Item 6 is hereby amended by adding the following at the end of the final paragraph thereof:

Pursuant to the terms and conditions of the Bolger Purchase Agreement, upon the closing of the purchase and sale of the Common Stock described therein, Section 2, Section 3, Section 4 and Section 5 of the Shareholders Agreement shall be terminated as of such closing. Mr. Bolger’s right to nominate two directors to the Company’s Board of Directors and related rights under the Shareholders Agreement will continue under the Bolger Purchase Agreement as described under Item 4 above.

See also Item 3 above for a description of the Commitment Letter and Item 4 above for a description of the Bolger Purchase Agreement. The documents, filings and exhibits are expressly incorporated herein by reference and the descriptions herein are qualified thereby.

Item 7.

Material to be Filed as Exhibits

Item 7 is hereby amended by adding the following exhibits:

Exhibit No.	Description

16.	Commitment Letter, dated as of October 16, 2009, among TD Bank, N.A., David F. Bolger and The David F. Bolger Revocable Trust.

17.	Securities Purchase Agreement, dated as of October 29, 2009, between the Company and David F. Bolger (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on October 30, 2009).

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: November 3, 2009

	DAVID F. BOLGER


	/s/ David F. Bolger
	David F. Bolger


	TWO-FORTY ASSOCIATES, a Pennsylvania Limited Partnership

	By:	The David F. Bolger Revocable Trust, its General Partner


	By:	/s/ David F. Bolger
		David F. Bolger, its Trustee


	THE DAVID F. BOLGER 2008 GRANTOR RETAINED ANNUITY TRUST, an Irrevocable Trust


	By:	/s/ David F. Bolger
		David F. Bolger, its Trustee


	THE DAVID F. BOLGER 2008 NONGRANTOR CHARITABLE LEAD ANNUITY TRUST, a Charitable Annuity Trust


	By:	/s/ Thomas M. Wells
		Thomas M. Wells, its Trustee

INDEX OF EXHIBITS

Exhibit No.	Description

16.	Commitment Letter, dated as of October 16, 2009, among TD Bank, N.A., David F. Bolger and The David F. Bolger Revocable Trust.

17.	Securities Purchase Agreement, dated as of October 29, 2009, between the Company and David F. Bolger (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on October 30, 2009).

	Very truly yours,

	TD Bank, N.A.


	By:/s/ Dennis J. McSherry
	Dennis J. McSherry
	Regional Vice President


The above commitment is hereby accepted:

	Borrowers:

	David F. Bolger Revocable Trust


	By:/s/ David F. Bolger
	David F. Bolger

	By:/s/ David F. Bolger
	David F. Bolger, Individually

1. Loan
a) Co-Borrowers:	David F. Bolger and The David F. Bolger Revocable Trust
b) Credit Amount:	The Lesser of $20,000,000 or 65% of the “as is” appraised value of the subject Commercial Properties and also subject to any further restrictions imposed by Regulation U.
c) Type of Credit:	Commercial Mortgage Loan
d) Term:	240 Months (20 Years)
e) Call Option:	Upon notice to the Co-Borrowers, the Bank may call the loan on the third (3rd) anniversary date of the closing of the loan.
f) Purpose of Loan:	The loan proceeds are to be utilized for the purchase of securities in Cascade Bancorp, Inc., a publicly traded Bank Holding Company (the “Securities”)
g) Interest Rate: Variable Rate	The loan shall bear interest at one of the following two (2) indexes. The rate option to be selected by the Co-Borrowers’ no less than five (5) days before closing of the Loan.
	(i) At a per annum rate equal to the Wall Street Journal Prime Rate plus 1/2%, with a floor at 4.50%. Wall Street Journal Prime Rate means the highest rate published from time to time by the Wall Street Journal as the Prime Rate, or, in the event the Wall Street Journal ceases publication of the Prime Rate, the base, reference or other rate then designated by the Bank, in its sole discretion, for general commercial loan reference purposes, it being understood that such rate is a reference rate, not necessarily the lowest, established from time to time, which serves as the basis upon which effective interest rates are calculated for loans making reference thereto. The effective interest rate applicable to the loan shall change on the date of each change in the Wall Street Journal Prime Rate.

	or
	(ii) At a per annum rate equal to Three Percent (3.00%) above the three month London Interbank Offered Rate (“LIBOR”), with a floor at 4.50%. LIBOR means the rate of interest (rounded upwards if necessary to the next 100th of one percent) equal to the British Bankers Association LIBOR (“BBA LIBOR”) as published by Bloomberg (or such other commercially available source providing quotations of BBA LIBOR as designated by the Bank from time to time) at approximately 11:00 A.M. (London time) 2 Banking Days prior to the first day of such LIBOR Interest Period for a term comparable to such LIBOR Interest Period; provided however, if more than one BBA LIBOR is specified, the applicable rate shall be the arithmetic mean of all such rates. If, for any reason, such rate is not available, the term LIBOR shall mean, with respect to any LIBOR Loan for the LIBOR Interest Period applicable thereto, the rate of interest per annum (rounded upwards, if necessary, to the nearest 1/100 of 1%) determined by the Bank to be the average rates per annum at which deposits in dollars are offered for such LIBOR Interest Period to major banks in the London Interbank market in London, England at approximately 11:00 A.M. (London time) 2 Banking Days prior to the first day of such LIBOR Interest Period for a term comparable to such LIBOR Interest Period. The effective interest rate applicable to the loan shall change at the end of each Interest Period. Interest Period means initially, a period of three months; provided however, (i) if any LIBOR Interest Period would end on a day which is not a Banking Day, such LIBOR Interest Period shall be extended to the next succeeding Banking Day (except that where the next succeeding Banking Day falls in the next succeeding calendar month, then on the next preceding Banking Day), (ii) no LIBOR Interest Period shall extend beyond the Maturity Date of the Loan, and (iii) any LIBOR Interest Period with respect to a LIBOR Loan that begins on the last Banking Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such LIBOR Interest Period) shall end on the last Banking Day of the relevant calendar month at the end of such LIBOR Interest Period.
h) Default Rate of Interest:	The “default rate of interest” shall be three (3) percentage points in excess of the rate of interest charged prior to the occurrence of the event of default.

i) Late Charges:	If any payment due the Bank is more than fifteen (15) days overdue, a late charge of five percent (5%) of the overdue payment shall be assessed.
j) Payments:	Consecutive monthly installments comprised of fixed principal plus interest (on the basis of actual number of days elapsed and a 360-day year) calculated by the Bank in the Bank’s sole discretion at the time of closing based upon the interest rate and a 240 month amortization period of principal.
k) Prepayment Privilege:	(1) The loan may be prepaid without a penalty if based on Wall Street Journal Prime.
	(2) The loan may be prepaid in whole or in part at each LIBOR rate reset date. In the event of any prepayment of the loan, whether by voluntary prepayment, acceleration or otherwise prior to an interest rate reset, the Borrower shall pay a “fixed rate prepayment charge” equal to the excess, if any, of (i) the amount of interest which would have accrued on the amount so prepaid for the period from the date of such prepayment at the applicable rate of interest for provided for herein over (ii) the amount of interest (as reasonably determined by the Bank) which would have accrued to the Bank on such amount by placing such amount on deposit for a comparable period with leading banks in the London Interbank Eurodollar market.

Type of Report(s)	Frequency	Due Date

Personal Financial Statements including detailed balance sheet, income statement, contingent liability statement and detailed property report with cash flow schedule	Semi-Annually	120 days after end of each mid and full calendar year.
Federal Tax Return	Annually	Within 15 days of filing but no later than October 31 of each year or such other date approved by the Bank.