1980-070 CRA - Laserfiche WebLink

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.. 8 . , dollars ($ 7,368.72** ) commencing with and measured from the first day of the seventh calendar month after the Keiser Funding Date. The balance of said principal sum of $150,000 and all interest and charges then owing thereon shall be due and payable on the first day of the calendar month following the tenth anniversary of the Keiser Funding Date, (b) Insofar as $650,000 of the proceeds of the loan evidenced by this note are intended to be used for the funding of a Qualified Take-Out Loan in the amount of $650,000 to Harry and Evelyn Greenberg ("Greenberg Loan"), as described in a certain commitment letter ("Greenberg Commitment Letter") from Bank dated April 25, 1980: Interest only on $650,000 of the principal amount of this note shall be payable semi-annually from the date of this note to the Greenberg Funding Date (as hereinafter defined) and on the Greenberg Funding Date, and thereafter both principal and interest on said amount of $650,000 shall be payable in twenty (20) equal semi-annual installments of Thirty-One Thousand Nine Hundred Thirty-One Dollars and 22/100********************************** dollars ($31.931.22~ commencing with and measured from the first day of the seventh calendar month after the Greenberg Funding Date, The balance of said principal sum of $650,000 and all interest and charges then owing thereon shall be due and payable .on the first day of the calendar month following the tenth anniversary of the Greenberg Funding Date, So long as this note is not in,default, e4ch install- ments of principal and interest when paid shall be applied by the holder hereof first to the payment of interest accrued as above specified, and the balance thereof to the payment of principal, When any default hereunder has occurred and is -2- (,¡7 5E