§476-6  Deferred payments, interest, etc. 
Any payment on account of the principal balance of a contract which is due on a
particular date may be extended or deferred to a later date by mutual
agreement, and, upon the amount of the principal balance payment so extended or
deferred, a finance charge not exceeding that permitted by section 476-28 upon
an original contract in the amount of the principal balance payment, for the
actual period of the extension or deferment, may be charged and may be
collected in advance at the commencement of the period of extension or
deferment or thereafter; provided that the term and conditions of the extension
or deferment, including the amount of the principal balance so extended or
deferred, and the period of, and the charge for the extension or deferment,
shall be set forth in writing and signed in duplicate by the buyer and the
seller or holder of the contract, one copy of the same to be given to the buyer
and the other copy to be inserted in or attached to the seller's or holder's
counterpart of this contract. [L 1984, c 86, pt of §1]