HomeMy WebLinkAbout0803 EXHIBIT B '
$567,000.00 September 28, 1979
PROMISSORY NOTE
FOR VALUE RECEIVED, the undersigned B. W.
CROSSWELL, a resident of Cobb County, Georgia, (hereinafter
referred to ws "Borrower") promises to pay to the order of
THE FiJLTON NATIONAL BANK OF ATLANTA, a national banking
association (hereinafter referred to as "Payee"), at the
main office of Payee at Henry Grady Square, Marietta and
Forsyth Streets, Atlanta, Georgia, or at such other place as
the holder hereof may designate, the principal sum of FIVE
HUNDRED SIXTY-SEVEN THOUSAND and No/100 Dollars
($567,000.00) with interest on the unpaid principal balance,
or so much thereof as has been disbursed and is outstanding
hereunder, at the rate which is one-half percent above
the Prime Rate as hereinafter defined, but in no event less
than ten and one-half percent (10~$) per annum, as follows:
Interest shall be paid quarterly, commencing on
i
December 28, 1979, and continuing on March 28, 1980,
June 28, 1980, September 28, 1980, and on the same dates
in each subsequent year until all principal and interest
E
~ has been paid in full.
Principal shall be paid in three (3) equal, con-
secutive annual installments of One Hundred Eighty-Nine
~ Thousand and No/100 Dollars ($189,000.00) each, with the
first installment being due and payable on December 28,
1980, the second installment being due and payable on
December 28, 1981, and the third and final payment being
due and payable on December 28, 1982.
As used herein, the term "Prime Rate" shall mean
the rate of interest charged by The Fulton National Bank of
k Atlanta to its commercial customers with the best credit
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