By participating in TAPCO Credit Union's Skip Pay program, you request that TAPCO defer your loan payment as indicated. You may request to skip up to two loan payments per loan per year within the 12 month calendar year. Minimum 90 days required between skipped loan payments per loan. Your loan(s) must be current (have no amount past due) to accept this offer. You agree and understand that: 1) Finance Charges will continue to accrue at the rate provided in your original loan agreement, during and after this time; 2) deferring your payment will result in having to pay higher total Finance Charges than if you made your payment as originally scheduled: 3) the payment deferral will extend the terms of your loan(s) and you will have to make extra payment(s) after your loan(s) would otherwise be paid off (excludes certificates secured loans which require a new loan to be executed upon maturity of certificate); 4) you will be required to resume your payments the month immediately following the month chosen to skip; and 5) a fee of $40 per loan per skip will be deducted from a savings or checking account for this service at the time the request is processed. If you elected GAP or Warranty coverage, the coverage will not be extended beyond the original maturity date. All deferrals are subject to TAPCO approval. Certain restrictions may apply. Excludes all real estate loans.