HomeMy WebLinkAboutIowa Economic Development Authority-1/28/2013CEBA Funding Agreement Exhibit Al- Community's Revised (1/1/2013) Promissory Note (Loan)
PROMISSORY NOTE
FOR VALUE RECEIVED, the undersigned promises to pay to the order of the IOWA
ECONOMIC DEYELOPMENT AUTHORITY, at its office at 200 East Grand, Des Moines, Iowa
50309, the sum of ONE HUNDRED THOUSAND ONE HUNDRED SIXTY DOLLARS AND TEN
CENTS ($100,160.10) with interest thereon at SIX PERCENT (6%) to be paid as follows:
5 monthly payments of $20,227.40 beginning on February 1, 2013. Final payment may vary
depending upon dates payments are received.
Interest shall first be deducted from the payment and any balance shall be applied on principal.
Upon default in payment of any interest, or any installment of principal, the whole amount then unpaid
shall become immediately due and payable at the option of the holder.
The undersigned, in case of suit on this note, agrees to pay on demand all costs of collection, maintenance
of collateral, legal expenses, and attorneys' fees incurred or paid by the holder in collecting and/or
enforcing this Note on default.
This note shall be secured by the Security specified in the Contract.
Makers, endorsers and sureties waive demand of payment, notice of non-payment, protest and
notice. Sureties, endorsers and guarantors agree to all of the provisions of this note, and consent
that the time or times of payment of all or any part hereof may be extended after maturity, from
time to time, without notice.
CITY OF W �ERLOO
BY:
rnest G. Clark, Mayor
Address: 715 Mulberry Street
Waterloo, IA 50703
Attest:
Suzy Scharrs, City Clerk
7/)45( i -72
Date: