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82-051
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Last modified
1/3/2012 12:33:20 PM
Creation date
6/26/2003 10:46:53 AM
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City Clerk
Doc Type
Resolution
Doc #
82-51
Date
4/19/1982
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EXHIBIT A <br /> <br />UNITED STATES OF AMERICA <br />STATE OF CALIFORNIA <br />COUNTY OF ORANGE <br /> <br />$3,000,000 <br /> <br />CITY OF SANTA ANA <br />1982 INDUSTRIAL REVENUE NOTE <br />(MITSUBISHI CONSUMER ELECTRONICS AMERICA, INC.} <br /> <br /> The CITY OF SANTA ANA, a chartered city of the State of California, duly <br />organized and existing under the constitution and laws of the State of <br />California (the "City"), for value received, hereby promises to pay to The <br />Mitsubishi Bank of California (the "Bank") or registered assigns, at the <br />office of the Bank at 800 Wilshire Boulevard, Los Angeles, California 90017, <br />the principal sum of Three Million Dollars {$3,000,000) in lawful money of the <br />United States of America, in immediately available funds, together with <br />interest on the unpaid principal balance hereof from the date hereof until <br />payment of such principal sum in full, at a floating rate per annum equal to <br />the product of {i) Bank's Prime Rate plus one-quarter of one percent (1/4%), <br />multiplied by (ii) sixty percent (60%). Forty (40) consecutive quarterly <br />principal installments due on the Payment Date in the months of January, <br />April, July and October of each year, commencing with the Payment Date in <br />July, 1982, are payable in the amount of Seventy-Five Thousand Dollars <br />($75,000) each on the Note. Interest shall be paid on the Payment Date in the <br />months of January, April, July and October of each year, commencing with the <br />Payment Date in July, 1982. The term "Prime Rate" as used herein means the <br />floating commercial loan rate of interest of the Bank announced from time to <br />time as its prime rate, as reviewed and adjusted quarterly (to be effective <br />for the subsequent quarter) by t~e Bank on the Payment Date in the months of <br />January, April, July and October of each year. The term "Payment Date" as <br />used herein means the twentieth day ~O___th) day of the month with respect to <br />which the term is used herein or, in the event that such day is not a business <br />day, the next preceding day which is a business day. <br /> <br /> If any installment due hereunder is not paid when due, the City promises <br />to pay interest on said unpaid installment at the rate of two percent (2%) <br />above the Prime Rate from the date when the same is due hereunder until the <br />same shall be paid. <br /> <br /> <br />
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