The Loan and Rate. Subject to the terms and conditions of this Agreement and the approval of the Lexington City Council, the Lender agrees to loan the sum of $200,000.00, to be repaid in ten annual installments of $22,265.30, each payment to include interest at 2.0% per annum, the first such payment to be due December 27, 2025, and annually thereafter until the entire balance is paid in full. If the date of payment falls on a Federal Bank Holiday or weekend, the payment shall be made the following business day.
The Loan and Rate. Subject to the terms and conditions of this Agreement and the approval of the Lexington City Council, the Lender agrees to loan the sum of $250,000.00, to be repaid with interest at the rate of 0% per annum as follows:
1. The entire amount shall be due and payable upon sale of the secured premises by Borrower;
2. Upon occupancy of the property by a lessee, a portion of the principal amount due, which shall be the same percentage as the percentage of total building square footage which is leased, shall be paid in five equal annual installments, the first such installment due one (1) year following the date of occupancy by lessee.
3. Any remaining amount of principal which has not been scheduled to be paid by October 1, 2014 shall be due and payable in five equal annual installments beginning October 1, 2015, continuing until the entire indebtedness is paid in full, with the final payment due October 1, 2019.
4. The Seller may at any time following completion of the construction of Building described in Section 1.02 and prior to occupancy, give notice of intent to transfer title to the real estate, described in Section 1.03, to Lender. Lender shall then have 60 days to direct the means of transfer. Such transfer shall be in full settlement of the amount owed.
The Loan and Rate. Subject to the terms and conditions of this Agreement and the approval of the Community Development Agency of Lexington, Nebraska, the Lender agrees to loan the sum of $100,000.00, to be repaid as set forth below in Paragraph 1.03. Each payment to include interest at 0.0% per annum.
The Loan and Rate. Subject to the terms and conditions of this Agreement and the approval of the Lexington City Council, the Lender agrees to loan the sum of up to $450,000.00, to be repaid with interest at the rate of 0% per annum as follows:
1. The entire amount shall be due and payable upon sale of the secured premises by Borrower; anticipated to be on or before March 1, 2013.
