Common Contracts
1 similar null contracts
ADJUSTABLE RATE NOTE - UNSECUREDNovember 7th, 2020
For value received, Peninsula Conflict Resolution Center, a California non-profit public benefit corporation (“Borrower”) promises to pay to the order of the County of San Mateo, a political subdivision of the State of California, or its successor-in-interest (“County”), at such place as County shall from time to time designate in writing the principal sum of Four Hundred Fifty Three Thousand Seven Hundred Seventy Five Dollars ($453,775.00) together with interest from the date hereof computed on the principal balances hereof from time to time outstanding at the rate of 1.25% per annum. The interest rate will change in accordance with Section 3 of this Note. Interest will accumulate with no payments required for a period of twenty-four months (“Deferred Period”), and all interest so accumulated shall be added to the original principal due hereunder. After the Deferred Period, principal and interest shall be payable as hereinafter set forth on the first day of each calendar month commenc
