HomeMy WebLinkAbout1771 i
T:~is Note is subject to mandatory prepayment
in certain circumstances as provided below.
This Note is one of a series of notes aggregating
$6,000,000 and providing for the payment of the unpaid princi-
pal amount thereof in installments on varying dates (he:.ein
referred to as the "Notes") which are being issued pursuant
to a certain agreement, dated of even date herewith, by and `
among the Company and the initial holders of the Notes, of
which ~;otes in the aggregate principal amount of $4,000,000
are unsecured (herein referred to as the "Unsecured Notes"}
and of which Notes in the aggregate principal amount of
$2,000,000 are secured by a mortgage on certain real property
of the Company (herein referred to as the "Secured votes").
i
This Note is one of the Secured votes. •
!E
~ OPTIONAL PREPP.Yc'•~ENTS
~ The Company shall have the right, at its option ~an3
•
~ without penalty or premium, to prepay the Notes, either in whole
or in part (but if in part then in a;nounts of $50,000 or a mul-
tiple thereof), at any time, and from time to time prior to m3t-
a
crity. All prepayments shall be applied first to accrued inter-
est on ail the Notes and then to the unpaid principal amount of
the Unsecured votes pro rata to all outstanding Unsecured Notes
K accordi^g to the respective unpaid principal amounts thereof
-2-
SIR
BQ,~K~~ P~GE~,~6~
j'
_ ~
F
''L