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PROMISSORY NOTE
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, ~ 1,100,000 .00 • , 1971
FOR VALUE RECEIVED, the undersigned EQUITY ASSOCIATES, a Tennessee limited
• ~ portnership, promises to pay to the order of DOBSON & JOHNSON, INC., the
principal sum of ONE'MILLION ONE HUNDRED THOUSAND DOLLARS
(S 1,100,000.00) with interest from date at the rate of Ni~e and one-qua~ter percent
: (9-1/4%) per annum on the outstanding principal balance until the entire indebtedneu ~
shall be paid in full . The said principal and interest shall be payable at the offices
of Dobson & Johnson, Inc., in Nashville, 7ennessee, or at such other place as the
holder moy designate in writing delivered or mailed to the borrower, in monthly •
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~ installments of principal and interest in the amount of NiNE THOUSAND SEVEN
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~ HUi~DRED SIXTY-E(GHT DOLLARS (~9,76$.00), said payments to be applied to interest
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; at the rate aforesaid and the balance to principal. Said pc~yments commencing on the
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~ first day of , 197 , and continuing on the first day of each month thereafter
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~ unti 1 the note is~ ful (y paid e xcept that the final payment of principal and interest , if
~ not sooner~paid, sholl be due and payable on the first day of , 199
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g The maker hereof sholl hwe no prepayment privileges during the first ten years from
and after the dote of amortization of this note commences. At the end of the tenth year,
~ the indebtedness may be prepaid in full provided sixty (60) days notice in writing is
~ fumished to the holder hereof vnd upon the payment of a premium of five percent (5%)
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of the amount so prepaid during the e,leventh year , said percentage decreasing one-holf
: (1/2) of one percent (1%) eoch year thereafte~ to a minimum of one percent (1%) during
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~ ~ ~ Q R 200 1669
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