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December 2, 1985; during this period, where interest only is provided to ~
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be paid, the Maker shall have the absolute right and interest, in addition
to the a ment of interest to make `
p y , principal payments on the unpaid principal
balance in equal monthly amounts of 61,000.00 or more on each day that '
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s
interest payments are required to be made; Commencing January 2, 1986, the
remaining balance of principal due under this note, after applying all
deductions of principal theretofore paid by the Maker, shall be paid.in
equal monthly installments, including principal and interest, in such monthly
amount as shall be required~to fully amortize the balance of the principal
and accrued interest in one hundred and eighty (180) equal consecutive monthly
installments, each such monthly installment to be applied first to accrued
interest and then to the reduction of principal.
It is understood and agreed, that prior to the installment due on
January 2, 1986, whether such installment is made under any of the options
granted to the Htaker as to the manner of payments as set forth above, the
;Maker may change from one option to the other at any time as the Maker so
selects, with the provision however, that beginni-ng with the payment due
January 2, 1986, the remaining balance of principal and interest shall be
due and payable in equal monthly installments including principal and interest
in such monthly amount as shall be required to fully amortize the balance of
principal and accrued interest in one hundred and eighty (180) equal and ~
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consecutive monthly installments, each such monthly installment to be applied
f first to accrued interest and then to the reduction of principal. In any
~ event, and at all times, after December 31, 1980, the Maker shall have the
right to prepay principal in full or in part at any time without penalty or
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~ premium.
This note is secured by a Uniform CommerEial Code Security Agreement f
of even date and is subject to the terms and conditions contained therein. ~
Alk C rporat'on of St. cie Count
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By
exan er er e, rest en
Attest
~ ennet ertino, ecretary
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.~A~P
(Corporate Seal) / of 9N~.~~
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Fly'`: ~ 1980 JU~I -4 AM 58
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