MULTIFAMILY NOTEAmerican Community Properties Trust • April 15th, 2005 • Land subdividers & developers (no cemeteries)
FOR VALUE RECEIVED, the undersigned ("Borrower") jointly and severally (if more than one) promises to pay to the order of PRUDENTIAL MULTIFAMILY MORTGAGE, INC., a Delaware corporation, the principal sum of THREE MILLION SIX HUNDRED FORTY THOUSAND AND 00/100 DOLLARS (US $3,640,000.00), with interest accruing on the unpaid principal balance from the date of disbursement until fully paid at the annual rate of Five and 49/100 percent (5.49%).
