ARTICLE IAcquisition Agreement • January 31st, 2000 • Asset Investors Corp • Real estate investment trusts • Delaware
PROMISSORY NOTEAsset Investors Corp • January 31st, 2000 • Real estate investment trusts
FOR VALUE RECEIVED, AIC COMMUNITY MANAGEMENT HOLDINGS, LLC, a Delaware limited liability company ("AICCMH"), and MANUFACTURED HOUSING CORP. ("MFHC"), a Delaware corporation (each a "Borrower" and collectively the "Borrowers"), jointly as co-borrowers, hereby promise to pay to COMMUNITY MANAGEMENT INVESTORS CORPORATION, a Delaware corporation ("Lender"), or holder, at the offices of Lender or such other place designated by Lender or the holder, the principal sum of TWO MILLION ONE HUNDRED TWENTY THOUSAND DOLLARS ($2,120,000) or such lesser amount as shall equal the unpaid principal amount of this Note, in lawful money of the United States of America and in immediately available funds, and to pay interest on such payment on the unpaid principal amount of this Note, at such office, in like money and funds, until this Note shall be paid in full, at a rate of 8 1/2% per annum as hereinafter provided.
