HomeMy WebLinkAbout0737 ' EXHIBIT A
PROMISSORY NOTE
s400,000.00 July 1~, 1974
Fort Lauderdale, Florida
FOR VALUE RECEIVED, the undersigned promises to pay to
the order of Clobal Development, Inc., the principal sum of Faur
Hundred Thousand Dollars (~400,000.00) together with interest there- ~
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on'from date at the rate of Fifteen Percent (15~) per annum com- j
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puted on the unpaid principal balance, said principal and interest ~
~ a able at West Beau Street, Washington, Pennsylvania 25301,
be~ng p y
or~at such other place as the holder hereof may designate.
The entire principal ~um together with accrued interest
shall be dus and payable on July 15, 1979.
Interest for the period from dat~ to September 14, 1974
sha21 be due and payable on September IS, 1974. Thereafter interest
shall be due and payable monthly ~n the fifteenth day of each and
every month beginning October 15, 1974.
If any installment of interest required to be paid here-
; under is not paid within thirty (30) days following its due date,
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I then at the option of the hol~der or holders hereof the entire prin- ;
' cipal balance and all accrued interest shall become due and payai~le f
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as fully and completely as if the same were originally stipu~ated
! to be paid at such time; provided, hawever, that this acceleration
provision shall not be exercisabl~ unless and until the maker of
this note has been given written not?ce of default hereunder and
at least five (S) days within which to cure such default by tender- ~
ing the installment or installments which are then in arrears here-
under. _
This note may be prepaid in whole or in part at any time
without penalty.
Deferred payment~ shall bear interest at the rate of
Fifteen Percent (15$) per annum.
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