HomeMy WebLinkAbout0992 ~ Exhibit ~~A~~ 2-la-ab
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`"`."s"'""i`u`uan"o"E~c?~' ppOMISSORY N07E . 0-202-~119-61
OEC 1 81~86 No,.. as~goo
: 144.,.444. o0
w~ru~a ON THI$ 18th OAY OF December ~9 8S FOR VAIUE RECEIVE~, T:iE UNDEAStGNEO i~eroin•
~itu call~d Mak~r and, ot Obll~or wllhout re~ard lo numb~r or 9snder, jolntly and ~sv~ralty PROMISE TO PAY TO TNE ORDEA OF
sani~ ol P~I~n e~~ch aed Tntal Canpany~ 10 Ceao~nut llew, ~aln~ ~~~eh~ ~Is~lda ~~~~0~ f1~r~Ina11~I o~I1~O •ANK,
TME PRINCIPAL SUM OF ONE HUNDRED TtiOUSAND DOLLARS AND NO/ 100-----------------------------
_ ~s 100, OQO. 00 ) DOIURS.
+ ter ss t~reo sha11 ccrue from !he d~ts of fundlnp~ computed on ths Dasla of a 385 day ysar, at the RATE OF lOx
C~ti~an~ pr~me ~ X floating as it changes sub~ect to increaseldecreass a~ set forth below.
THE PRlNCIPAI HEREOF /1N0 INTEREST THEREON SHA~L BE PAYABLE AS FOLLOWS: Bglance due in f ul l plus
interest 62 dave from date of note on February 18, 1985.
ia :~~.~s~ ~ a
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r••n« wah wm+~++ a aw.+~au a a~.c~ ~o, aa cna.Q. na io.:c..d sx a~+. a~wwu ~ucl? paymN+qsL ~~w.
TM iM~nst tat~ hKSin dlsclw~d is prosp~ctiv~ly aub~~ct to Incr~asdd~cnas~ at th~ dlscr~tto~ of tha Bank, but In no ~venl
st~all int~nst b~ dw at a rat~ In ~xc~ss ot tM maximum Int~nst nt~ pstmttt~d from ilrr~ to tim~ by law. Any Incnas~tdscreass
in (h~ (ntN~it fatf wiN tqul! !n SA lncr~as~ld~cr~as~ In makw's paymant amount(s).
Unlesa ott~wls~ providod. all payna~ls shall b~ appll~d Nrsl lo accru~d Int~r~st and tMn to princlpal, lnt~resl wiil ac-
cru~ at tM ~at~ of 11365th of annusl Int~r~st for ~ach day thst pnnclpal ls outstu?dinp~ but tn no we~t stu111nter~st b~ dus a~ a
r:t~ In ~xcqa ol tiw AlqMst lawfut rat~. Wittwut Umltlnp th~ ~enerality of ihs lorpoinq. snd notwitAstandi~~ sny cual or wrilten
apr~nt~ no d~posJt ot lunds sftialt b~ r~quir~d In conn~ctio~? with thls loan in an smount which wlll~ whM d~ducted irom the
principal amount outstandMq huwr~d~~ causa th~ tat~ o! Int~r~st h~wndsr to axcNd th~ maximum tawtui rat~.
As it ts ttu int~nt of all panf~s to this oblfpstlon to abid~ strictfy by ttH inte~~st Ilmitations Imposad by app!lcabla law,
' th~ twidK R~r~of sAatl not b~ entltl~d to coll~ct any Int~»sl~ sdranc~ w torsbsaranc~ whkh Is In ~xcass ot tM maximum leyal
~ intenst at~ p~rmltt~d bp app!lcaDl~ law, snd 1M BonowK shall b~ entitl~tf to a retund of any smount collsct~d h~eunds? which
may D~ d~t~rmiMd to b~ in ucc.~ss of that maximum Ipa1 int~rast rat~.
If an~r paym~nt Is not mad~ tn tull wh~n due, the ontin unpaid principal and accrusd intsrsst~ le~s any uneun~d Interest
artd any inte~~at in ~zctss of ttu maxfmum a?low~d by I~w and a~y rebates ~squi~ad by law. shall at the optlon of the hoider
~ Decom~ immedfat~Fy dw and paysbl! wlthout noNc~. F~llun to ~x~rclss Ih~ option shail not constflute a waiwr of th~ suDse~ i
quent ripht to ~xsrcis~. AFTER MATURiTY. INTEREST SHA~L ~1CCRUE ON THE DELINQUENT PRtNCIPAI BAUNCE AT TNE ~
HIGMEST LAWFUT AATE OF INTEREST OR. IF NO MAXIMUM RATE IS PAESCAI~ED BY LAW, AT 18Xi PER ANNUM.
M aacurity for tM paym~nt of this nots, and any rsnewals. extansiona o~ modifications thereof. and any other Ilabflities ~
of th~ MAKER to th~ BANK; how~vK or whenevar croat~d~ MAKEFi hsreby yranla to ths BANK a security interest tn:
~
~
WMth~r a nol sp~eflk prop~rer b d~suiad sbo+r~ aa addltbnal s~ewlty tor tM parmad ol INb Nof~. anp rsn~wats. ~:t~nafons u modllkatbns tMrwf. and srryr
oINK It~WN Wi Ot MAKER to 8MlK Aoww~ or rrh~wr aaal~d, MAKEA Mnby pMdpa 10 BANK any and all prop~rty oi 6AAKER now a Mr~atlW dNeruW 10 or I~it
in o~ canY+p into vo~+sssloe. contro+ or watoo~r ol BMiK. wt+~tlwr ~cp~~ssy ~s Gwla~Ka1 s~curi~y a ~o~ any ana Pw+~v~ (~~~+dinp caal?. swdc ~na o~nK a~rr
d~nds. and aY ripnta to ~upsui~ lor s~cwttfa IncfdMN to, GNand, a pnna0 m cauNCtbn arith sucA D~aDw1Y1. sna praVMly dtacriDW U? collatua~ r~?A~s a
otNN douMnM?b afyNtl a tumisNW ~r !M MAKEA. sn0 any an0 aU rplaeMMnts ol amr o! tM lorpolnp. wMthu ot nol in 1M P~s~sslon o! Ba+dc. Atl sucl? prop~ny
arxt aenr oth~ propwtr s~e~uU+p n~ak~a WOUfti~s to tM BaNc wIi11?KUttK bs rNsaod to a~ "tM CoUst~ral." TM Conatua! fs siso pNUp~d as s~ewity (or au otnu
i~ab~iti~s (ar~n+sry. s~ew~ary. Wr~ct, eo~ukq~eu, soN. ~o1n! a a~w~raq~ aw a lo D~eonw dw or wAkh may 0~ Mr~att~r eonlraetW or stpukW. oi ~sen Msku 1~n-
ctudinp ~aM Malw uq a~ry? otMr p~rsoM to SAHK wMtMt sutA Ilspil~~w~ ar~s. ~n IM or0inary cows~ of pusln~ss a no1. Hlpht la hwWp ~sp~qsiy prantW ~o ~n~
8l?NK a~ f1t option 1rs transl~r at any tMn~ 1o usNl a ~o Its nominN arhr Coitatusl. snd to racalw ttw Incom~ ~t~wn snd nW0 u~e san~ ss s~curqp MrNa, a app~y i~
on ~n~ a„~e~a~ a ~nia•si dw ~+~r.on «ew on anr ~uauh s•au.a n.ab~r.ln~ e~NK msy ca,~u?w ~o naa sny v~~w ao9«~r o~c.o n.rwnw. anu ~n. o~r-
mu?i a u+?s na~. il al lM litM ol IM pi~rtNnt and dlst~arq~ Mt~of snr ol tM parti~~ IiaDN (o~ tM PaYm~nt Mrwl ihall p~ Ih~n dk~CtM or Cpntinp~ntly Ii+DN to tt~~
BANK ~s n1a1cN. ~rWonu. sur~t~r a puaranta ol sryr ott+N na~, 6rs11. Dul ol ~xchanp~, or otMr insUum~rt1. o~ ot1?awlsa. ~nd tM BANK mar tnwuftu uuc~s~ in• ~
ripAts witN r~sp~ct w taid DIWp~d propktY pranl~d Mr~ln wa~ l~oupl~ lAls nol~ sl+sll Raw Wen surr~ndWW l0 1M MAKEFi.
TME PHOVISIONS ON THE REVERSE SIDE ARE A PART OF THIS NOTE. • ~
AGCftTEO FOp TME WtK M~~/O~~Op i
~I~f Forest Beckett ,
~!C~! %~'~%?''/~i.~~/~v/~~ ,sp~a~~,.?
F Mnt:ElVO~t1aOA
j~~'f y Muaicipal A3rport, Youngsto~?n, Ohio 44501
? N wM n cescaK ~DORESi
hi~ ~1pP.W aDO~~ Wt1y 10 CENN ~ r~liA NCWifr NINt{1 Y1 tly GOll~lpy ~n ~avOi
ot tM tMt ~nt ~!s~ na.~ no panaW YapYf~ ow u~ls ~oN, ucpl lor podslons nlaYnp to IM t~cilk ~~cun1~ q~suw~0 apo.~.
Aufhorfty for Dtsbursemsnt and Loan Pu~pos• Statsment .
TO: BANK OF PALM BEACH AND TRUST COMPANY
You ua Mr~r aulhorizb and di~~ctb ta.
O c~.ai u~. aoc..aa a c~s ba~? ~o u~..~co„~~ o~: o c~ ~ Q
o nvvw w«.w. ~o ~b~iau in. ~oaow~,~ ~w~, « aa~:
? Chatp~ iM lotlowinp account fa th~ paym~nta horwndK:
~sp~; Wire funds cr~dit Leaee Air Inc. Bank l?aa
1M unCsnfpMO Mr~br wsnsnl arb ~ntM tM! fh~ proca~ds of tM banprovW~d for M thts a~r~g~ ~n4as ~d 1~~ Ilovrin~ purposs: ~
c~.a ~ DNSOea1,l~mlhr, w housNtiold purpos~s Pa of f debt in Teaaessee 80
~ bualnaa ua~ $(9 D'Yl r' 1 h 1(1 •
~ fumin~ op~ratlons '~k ~"`~O" -
J1-FCw',t i('r.;., • ,
If 1h~ procaWs ol thls laan ar~ us~d to acqult~, Improv~ a malnlain r~ntal prop~rty, tAa unCtr=iqn iliyM.hOi odcbpy th~ prop~rly for
mor~ tnan t~ aars In th~ cominq y~sr.
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