Amendment to Section 1 of the Note. Effective as of the date hereof, Section 1 of the Note is hereby deleted in its entirety and replaced with the following:
Amendment to Section 1 of the Note. Notwithstanding Section 1 of the Note, during the period of May 1, 2018, through and including March 30, 2020, the principal balance of the Note, as amended by this Amendment, shall bear interest (computed on the basis of a 360-day year, actual days elapsed) at four and three-quarters percent (4.75%) per annum, compounded annually, or at the interest rate allowable under California Government Code section 53530 et seq., whichever is lower. Commencing on and after April 1, 2020, the principal balance of the Note, as amended by this Amendment, shall bear interest (computed on the basis of a 360-day year, actual days elapsed) at the Bank Prime Loan rate as determined by the Federal Reserve (“Prime Rate”) per annum, compounded annually, or at the interest rate allowable under California Government Code section 53530 et seq., whichever is lower. As of the Effective Date of this Amendment, the Prime Rate is Three and One Quarter percent (3.25%).
Amendment to Section 1 of the Note. At the Effective Time, Section 1 of the Note shall be amended to replace "$166,666.66" with "$175,000.00" so that the entire sentence reads as follows: "The principal amount of this Note shall be payable in twenty-four (24) consecutive monthly payments of $175,000.00 commencing January 1, 2003 and continuing on the first day of each of the next twenty-three (23) months, with the last principal payment due December 1, 2004."
Amendment to Section 1 of the Note. Section 1 of the Note is hereby amended and restated to read as follows:
Amendment to Section 1 of the Note. The definition of “Mandatory Default Amount” in Section 1 of the Note is hereby amended and restated in its entirety as follows:
