I have paid $360 in Refinancing fees on a $200 Loan

Hello,I took out a payday loan with Liberty Group, LLC. for $200.00, back in November. I agreed to have Liberty Group debit my checking account on the 15th of each month for $60.00. Since November, I have paid them a total of $360.00, but non of the payments have gone to pay off the princible. I thought the $60.00 was going towards paying off the total loan, but the $60.00 payments are a refinancing fee; none of the payments have gone to pay off the principle. I admit that I did not pay attention to the terms, but is the refinancing fee of $60.00 on a $200.00 loan legal? I am in California. Below are the terms of the loanRefinance: Your loan will be refinanced on every due date unless you notify us of your desire to pay in full or to pay down your principleamount borrowed. You will accrue a new fee of $60.00 every time your loan is refinanced. Any fees accrued during refinancing willNOT go toward the principle amount owed.Unless we receive written notification from you at least three full business days beforeyour loan is due, your loan will be refinanced.- Pay Down: You can pay down your principle amount by increments of $50.00 in addition to the service charge. Paying down willdecrease the fee charged for the next refinance due. To accept this option you must notify us of your request in writing via fax at1-888-620-0683 . The request needs to be received at least three full business days before your loan is due.- Pay Off: You can pay off your full balance of $260.00 , the principle plus the fee for that period. To accept this option you mustnotify us of your request in writing via fax at 1-888-620-0683 . The request needs to be received at least three full business days beforeyour loan is due.