PROMISSORY NOTE SECURED BY DEED OF TRUST Sample Clauses

PROMISSORY NOTE SECURED BY DEED OF TRUST. $ , 2019 For value received, the undersigned (referred to as “Borrower”), promises to pay to the City of Anaheim (“Holder”), at 000 X. Xxxxxxx Xxxxxxxxx, Xxxxxxx, Xxxxxxxxxx 00000, or such other place designated in writing submitted by Holder to Borrower, the principal sum of and no/100 Dollars ($ ), plus interest on the unpaid principal balance according to the terms contained in this Note. Interest on the principal sum of this Note from time to time outstanding will be computed on the basis of a 365-day year and actual days elapsed from date of recordation of the Deed of Trust and securing repayment of this Note until paid, at the per annum rate of four percent (4%). Payments shall be in monthly installments of Sixteen Thousand Five Hundred Dollars ($16,500.00), on the first day of each month beginning on the 1st day of the month following the earlier to occur of (i) the date on which Buyer’s property located at 0000 X. Xxxxxxx Xxxx., Xxxxxxx, XX 00000 (the “ATN Facility”) is sold to the City or (ii) the agreement pursuant to which Buyer has agreed to sell the ATN Facility to the City is terminated, and continuing each consecutive month thereafter until , 20 , at which time the then unpaid balance of principal and accrued but unpaid interest shall all be due and payable. The Borrower acknowledges that the required monthly payments as described above are less than interest only. Accordingly, the principal balance will include significant accrued interest. If the Borrower shall sell, convey or alienate the property as described in the Deed of Trust (defined below), or any part thereof, or any interest therein, or shall be divested of his title or any interest therein in any manner or way, whether voluntarily or involuntarily, without the written consent of the Holder being first had and obtained, Holder shall have the right, at its option, except as prohibited by law, to declare any indebtedness or obligations secured hereby, irrespective of the maturity date specified in any Note evidencing the same, immediately due and payable. Borrower agrees to pay a late charge to the Holder of this Note for any amount of principal or interest due under this Note and not received by Holder on or before the ten (10) days following the written demand of Holder. The amount of the late charge is two and one-half percent (2½%) of the overdue amount. This late charge is a reasonable sum that takes into consideration all of the circumstances existing on the date of this Note...
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PROMISSORY NOTE SECURED BY DEED OF TRUST. The undersigned, Sethi Management Inc., a California corporation (“Borrower”), promises to pay to the City of Chula Vista, a chartered municipal corporation (“Lender”), the principal sum of one million, three hundred forty-five thousand, eight hundred and eighteen dollars ($1,345,818), together with interest on the unpaid principal balance at an annual rate of two percent (2%), with all interest due and payable fifty-four (54) months from the date of the issuance of the Certificate of Occupancy for the Project (the “Maturity Date”), as defined, described, and set forth in that certain Agreement for Deferral of Development Fees between Borrower and Lender (the “Deferral Agreement”), the terms of which are incorporated by this reference. This promissory note (“Note”) shall be subject to the following additional provisions:
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PROMISSORY NOTE SECURED BY DEED OF TRUST of even date herewith in the original principal amount of the Loan made by Borrower payable to the order of Lender;
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Related to PROMISSORY NOTE SECURED BY DEED OF TRUST

  • Promissory Note The Promissory Note is enclosed. The Chief Financial Officer is required to sign it and return it to the OPWC Loan Officer, Xxxxx XxXxxx. It is preferable that you scan and email it to her at Xxxxx.XxXxxx@xxx.xxxxx.xx.xx but may also mail it to the address on our letterhead. Only use one method.

  • Promissory Notes Any Lender may request that Loans made by it be evidenced by a promissory note. In such event, the Borrower shall prepare, execute and deliver to such Lender a promissory note payable to such Lender (or, if requested by such Lender, to such Lender and its permitted registered assigns) and in a form attached hereto as Exhibit C. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such form payable to the payee named therein (or, if such promissory note is a registered note, to such payee and its permitted registered assigns).

  • Deed of Trust If the related Mortgage is a deed of trust, a trustee, duly qualified under applicable law to serve as such, is properly designated and serving under such Mortgage.

  • Secured Promissory Notes The Term Loans shall be evidenced by a Secured Promissory Note or Notes in the form attached as Exhibit D hereto (each a “Secured Promissory Note”), and shall be repayable as set forth in this Agreement. Borrower irrevocably authorizes each Lender to make or cause to be made, on or about the Funding Date of any Term Loan or at the time of receipt of any payment of principal on such Lender’s Secured Promissory Note, an appropriate notation on such Lender’s Secured Promissory Note Record reflecting the making of such Term Loan or (as the case may be) the receipt of such payment. The outstanding amount of each Term Loan set forth on such Lender’s Secured Promissory Note Record shall be prima facie evidence of the principal amount thereof owing and unpaid to such Lender, but the failure to record, or any error in so recording, any such amount on such Lender’s Secured Promissory Note Record shall not limit or otherwise affect the obligations of Borrower under any Secured Promissory Note or any other Loan Document to make payments of principal of or interest on any Secured Promissory Note when due. Upon receipt of an affidavit of an officer of a Lender as to the loss, theft, destruction, or mutilation of its Secured Promissory Note, Borrower shall issue, in lieu thereof, a replacement Secured Promissory Note in the same principal amount thereof and of like tenor.

  • Security Agreement The words "Security Agreement" mean and include without limitation any agreements, promises, covenants, arrangements, understandings or other agreements, whether created by law, contract, or otherwise, evidencing, governing, representing, or creating a Security Interest.

  • Loan Agreement and Note Lender shall have received a copy of this Agreement and the Note, in each case, duly executed and delivered on behalf of Borrower.

  • Loan Agreement This Agreement duly executed by Borrower and Lender.

  • Subordination Agreement Each of (i) the subordination of interest payments to the Noteholders of the Class B Notes to the payment of any First Priority Principal Payment to the Noteholders of the Class A Notes and (ii) the subordination of interest payments to the Noteholders of the Class C Notes to the payment of any Second Priority Principal Payment to the Noteholders of the Class A Notes and the Class B Notes under Section 8.2(c) is a subordination agreement within the meaning of Section 510(a) of the Bankruptcy Code.

  • The Security Agreement The security interest granted pursuant to this Trademark Security Agreement is granted in conjunction with the security interest granted to the Collateral Agent pursuant to the Security Agreement and Grantor hereby acknowledges and affirms that the rights and remedies of the Collateral Agent with respect to the security interest in the Trademarks made and granted hereby are more fully set forth in the Security Agreement. In the event that any provision of this Trademark Security Agreement is deemed to conflict with the Security Agreement, the provisions of the Security Agreement shall control unless the Collateral Agent shall otherwise determine.

  • of the Note Purchase Agreement Section 15.1 of the Note Purchase Agreement is amended to read in its entirety as follows:

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