SCHEDULE "B"
INTEREST RATE


Interest Rate

The Interest Rate charged from time to time shall be the lesser of:

(a) The interest rate shown on the face of this mortgage/charge/extension/amending agreement (XXXXXXX% calculated semi-annually and not in advance); and

(b) in the:

(i.)	first year of the mortgage, the Credit Union's posted rate for a one-year closed mortgage as at the date of the mortgage;

(ii.)	second year of the mortgage, the Credit Union's posted rate for a one-year closed mortgage as at the first anniversary of the effective date of the mortgage;

(iii.)	third year of the mortgage, the Credit Union's posted rate for a one-year closed mortgage in effect as at the second anniversary of the effective date of the mortgage;

(iv.)	fourth year of the mortgage, the Credit Union's posted rate for a one-year closed mortgage in effect as at the third anniversary of the effective date of the mortgage;

(v.)	fifth year of the mortgage, the Credit Union's posted rate for a one-year closed mortgage in effect as at the fourth anniversary of the effective date of the mortgage.