The Note. The disbursement of the Loan pursuant to Section 1.1 -------- hereof shall be made against and evidenced by a promissory note of the Borrower in the form annexed hereto as Exhibit A (the "Note"), such Note to bear interest as hereinafter provided, and shall become due and payable in ________ (___) consecutive annual equal installments consisting of both principal and interest amortized over a ________ (__) year period in an amount sufficient to repay the Loan plus interest, commencing on __________________, 1998 and on the last day of each and ____________________ each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be due on ________________, the final maturity thereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan made by the Lender under Section 1.1 hereof less all payments of principal actually received by the Lender. The amount of such disbursement made by the Lender and any repayments of principal thereof shall be recorded by the Lender on its books or records or, at its option, endorsed on the reverse side of the Note by the Lender and the unpaid principal balance at any time so recorded or endorsed by the Lender shall be prima facie evidence in any court or other proceedings brought to enforce the Note of the principal amount remaining unpaid thereon.
Appears in 1 contract
Samples: Loan and Security Agreement (First Source Bancorp Inc)
The Note. The disbursement of the Loan made pursuant to Section 1.1 -------- hereof shall be made against and evidenced by a promissory note of the Borrower in the form annexed (with appropriate insertions) attached hereto as Exhibit A (the "Note"), such Note shall be dated the date of issuance thereof, be payable to bear interest as hereinafter provided, and shall become due and payable in ________ (___) consecutive annual equal installments consisting the order of both principal and interest amortized over a ________ (__) year period in an amount sufficient to repay the Loan plus interest, commencing on __________________, 1998 and on the last day of each and ____________________ each year thereafter, except that the final installment Bank in the face principal amount of all principal ONE HUNDRED NINETY-ONE THOUSAND SIX HUNDRED NINETY AND 47/100 DOLLARS ($191,690.47) and interest not sooner paid shall be due expressed to mature on ________________April 30, 2000, the final maturity thereof. The principal amount of the Loan from time to time remaining unpaid hereon shall bear interest as provided in Section 2 hereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owed owing by the Borrower on account of the Note shall be the amount of the disbursement of the Loan made by the Lender disbursed under Section 1.1 hereof less all payments of principal actually received by the LenderBank. The amount of such disbursement made by the Lender and any repayments of principal thereof Bank shall be recorded by the Lender record on its books or and records or, at its option, endorsed on a schedule to the reverse side Note the amount of the Loan disbursed by the Bank under Section 1.1 hereof, any repayments of principal thereof and the principal balance from time to time outstanding, provided that prior to any transfer of the Note by all such amounts shall be recorded on a schedule to the Lender Note. The Borrower agrees that the record thereof, whether shown on such books and records or on a schedule to the unpaid principal balance at any time so recorded or endorsed by the Lender Note, shall be prima facie evidence in any court action or other proceedings brought proceeding instituted to collect or enforce collection of the Note of the principal amount remaining unpaid thereon; provided, however, that the failure of the Bank to record any of the foregoing shall not limit or otherwise affect the obligation of the Borrower to repay the principal amount of the Loan together with accrued interest thereon.
Appears in 1 contract
Samples: Esop Loan and Security Agreement (Aasche Transportation Services Inc)
The Note. The disbursement of the Loan pursuant to Section 1.1 hereof -------- hereof shall be made against and evidenced by a promissory note of the Borrower in the form annexed hereto as Exhibit A (the "Note"), such Note to bear interest as hereinafter provided, and shall become due and payable to mature in ________ eighty (___80) consecutive annual equal quarterly installments consisting of both principal and interest amortized over a ________ an eighty (__80) year month period in an amount sufficient to repay the Loan all borrowed amounts plus interest, commencing on __________________December 31, 1998 and on the last day of each and ____________________ every March, June, September and December of each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be due on ________________September 30, 2018, the final maturity thereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan made by the Lender under Section 1.1 hereof less all payments of principal actually received by the Lender. The amount of such disbursement made by the Lender and any repayments of principal thereof shall be recorded by the Lender on its books or records or, at its option, endorsed on the reverse side of the Note by the Lender and the unpaid principal balance at any time so recorded or endorsed by the Lender shall be prima facie evidence in any court or other proceedings brought to enforce the Note of the principal amount remaining unpaid thereon.
Appears in 1 contract
Samples: Commitment Letter (Virginia Capital Bancshares Inc)
The Note. The disbursement of the Loan pursuant to Section 1.1 hereof -------- hereof shall be made against and evidenced by a promissory note of the Borrower in the form annexed hereto as Exhibit A (the "Note"), such Note is to bear interest as hereinafter provided, and shall become due and payable to mature in ________ ten (___10) consecutive equal annual equal installments consisting of both principal and interest amortized over a ________ ten (__10) year period in an amount sufficient to repay the Loan all borrowed amounts plus interest, commencing on __________________December 31, 1998 and on the last day of each and ____________________ every December each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be due on ________________December 31, 2007, the final maturity thereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan made by the Lender under Section 1.1 hereof less all payments of principal actually received by the Lender. The amount of such disbursement made by the Lender and any repayments of principal thereof shall be recorded by the Lender on its books or records or, at its option, endorsed on the reverse side of the Note by the Lender and the unpaid principal balance at any time so recorded or endorsed by the Lender shall be prima facie evidence in any court or other proceedings brought to enforce the Note of the principal amount remaining unpaid thereon.
Appears in 1 contract
Samples: Loan and Security Agreement (West Essex Bancorp Inc)
The Note. The disbursement of the Loan pursuant to Section 1.1 -------- 1. I hereof shall be made against and evidenced by a promissory note of the Borrower in the form annexed hereto as Exhibit A (the "NoteNote "), such which Note to shall bear interest as hereinafter provided, and shall become due and be payable in ________ forty (___40) consecutive annual equal quarterly principal installments consisting commencing on the last Business Day (as defined below) in September, 1997 and continuing on the last Business Day of both each and every calendar quarter thereafter, each such principal and interest amortized over a ________ (__) year period installment to be in an amount sufficient equal to repay the Loan plus interest, commencing on __________________, 1998 and principal amount outstanding on the last day due date of each the installment multiplied by a fraction, the numerator of which shall be one and ____________________ each year thereafterthe denominator of which shall be the number of principal installments remaining on the Note, including the installment due in the current calendar quarter, except that the final installment in the amount of all principal and interest not sooner paid shall be due on ________________June 30, 2007, the final maturity thereof. For purposes of this Section 1.2 and the other provisions of this Agreement, the phrase "Business Day" shall mean any day on which savings institutions are generally open for business in New York other than a Saturday or Sunday. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan made by the Lender under Section 1.1 hereof less all payments of principal actually received by the Lender. The amount of such disbursement made by the Lender and any repayments of principal thereof shall be recorded by the Lender Under on its books or records or, at its option, endorsed on the reverse side of the Note by the Lender and the unpaid principal balance at any time so recorded or endorsed by the Lender shall be prima facie evidence in any court or other proceedings brought to enforce the Note of the principal amount remaining unpaid thereon.
Appears in 1 contract
The Note. The disbursement of the Loan pursuant to Section 1.1 hereof -------- hereof shall be made against and evidenced by a promissory note of the Borrower in the form annexed hereto as Exhibit A (the "Note"), such Note to bear interest as hereinafter provided, and shall become due and payable to mature in ___________ (___) consecutive equal annual equal installments consisting of both principal and interest amortized over a __________ (___) year period in an amount sufficient to repay the Loan all borrowed amounts plus interest, commencing on December 31, 199__________________, 1998 _ and on the last day of each and ____________________ every December each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be due on _____________December 31, 20___, the final maturity thereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan made by the Lender under Section 1.1 hereof less all payments of principal actually received by the Lender. The amount of such disbursement made by the Lender and any repayments of principal thereof shall be recorded by the Lender on its books or records or, at its option, endorsed on the reverse side of the Note by the Lender and the unpaid principal balance at any time so recorded or endorsed by the Lender shall be prima facie evidence in any court or other proceedings brought to enforce the Note of the principal amount remaining unpaid thereon.
Appears in 1 contract
Samples: Commitment Letter (Virginia Capital Bancshares Inc)
The Note. The disbursement of the Loan pursuant to Section 1.1 hereof -------- hereof shall be made against and evidenced by a promissory note of the Borrower in the form annexed hereto as Exhibit A (the "Note"), such Note to bear interest as hereinafter provided, and shall become due and payable to mature in ________ (___) consecutive annual equal installments consisting of both principal and interest amortized over a ________ ten (__) year period in an amount equal annual installments sufficient to repay the Loan all borrowed amounts plus interest, commencing on ______________, ____, 1998 and on the last day of each and _______________every _____ each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be due on ____________, ____, the final maturity thereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan made by the Lender under Section 1.1 hereof less all payments of principal actually received by the Lender. The amount of such disbursement made by the Lender and any repayments of principal thereof shall be recorded by the Lender on its books or records or, at its option, endorsed on the reverse side of the Note by the Lender and the unpaid principal balance at any time so recorded or endorsed by the Lender shall be prima facie evidence in any court or other proceedings brought to enforce the Note of the principal amount remaining unpaid thereon.
Appears in 1 contract
The Note. The disbursement of the Loan pursuant to Section 1.1 -------- hereof shall be made against and evidenced by a promissory note of the Borrower in the form annexed hereto as Exhibit A (the "Note"), such Note to bear interest as hereinafter provided, and shall become due and payable in ________ (___) consecutive annual equal installments consisting of both principal and interest amortized over a ________ (__) year period in an amount sufficient to repay the Loan plus interest, commencing on __________________, 1998 1997 and on the last day of each and ____________________ each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be due on ________________, the final maturity thereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan made by the Lender under Section 1.1 hereof less all payments of principal actually received by the Lender. The amount of such disbursement made by the Lender and any repayments of principal thereof shall be recorded by the Lender on its books or records or, at its option, endorsed on the reverse side of the Note by the Lender and the unpaid principal balance at any time so recorded or endorsed by the Lender shall be prima facie evidence in any court or other proceedings brought to enforce the Note of the principal amount remaining unpaid thereon.
Appears in 1 contract
The Note. The disbursement of the Loan pursuant to Section 1.1 -------- hereof shall be made against and evidenced by a promissory note of the Borrower in the form annexed hereto as Exhibit A (the "Note"), such Note to bear interest as hereinafter provided, and shall become due and payable to mature in ________ 3 twenty (___20) consecutive equal annual equal installments consisting of both principal and interest amortized over a ________ twenty (__20) year period in an amount sufficient to repay the Loan all borrowed amounts plus interest, commencing on __________________, 1998 _ and on the last day of each and _________every ___________ each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be due on on________________, the final maturity thereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan made by the Lender under Section 1.1 hereof less all payments of principal actually received by the Lender. The amount of such disbursement made by the Lender and any repayments of principal thereof shall be recorded by the Lender on its books or records or, at its option, endorsed on the reverse side of the Note by the Lender and the unpaid principal balance at any time so recorded or endorsed by the Lender shall be prima facie evidence in any court or other proceedings brought to enforce the Note of the principal amount remaining unpaid thereon.
Appears in 1 contract
The Note. The disbursement of the Loan pursuant to Section 1.1 hereof -------- hereof shall be made against and evidenced by a promissory note of the Borrower in the form annexed hereto as Exhibit A (the "Note"), such Note is to bear interest as hereinafter provided, and shall become due and payable to mature in ________ forty-eight (___48) consecutive annual equal quarterly installments consisting of both principal and interest amortized over a ________ forty- eight (__48) year month period in an amount sufficient to repay the Loan all borrowed amounts plus interest, commencing on ___________________ 31, 1998 1999 and on the last day of each and ____________________ every March, June, September and December of each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be due on _______________ 31, 20__, the final maturity thereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan made by the Lender under Section 1.1 hereof less all payments of principal actually received by the Lender. The amount of such disbursement made by the Lender and any repayments of principal thereof shall be recorded by the Lender on its books or records or, at its option, endorsed on the reverse side of the Note by the Lender and the unpaid principal balance at any time so recorded or endorsed by the Lender shall be prima facie evidence in any court or other proceedings brought to enforce the Note of the principal amount remaining unpaid thereon.
Appears in 1 contract
The Note. The disbursement of the Loan pursuant to Section 1.1 -------- hereof shall be made against and evidenced by a promissory note of the Borrower in the form annexed hereto as Exhibit A (the "Note"), such Note is to bear interest as hereinafter provided, and shall become due and payable to mature in ________ (___) consecutive equal annual equal installments consisting of both principal and interest amortized over a ________ (__) year period in an amount sufficient to repay the Loan all borrowed amounts plus interest, commencing on December 31, 199__________________, 1998 _ and on the last day of each and ____________________ every December each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be due on _______________December 31, 200_, the final maturity thereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan made by the Lender under Section 1.1 hereof less all payments of principal actually received by the Lender. The amount of such disbursement made by the Lender and any repayments of principal thereof shall be recorded by the Lender on its books or records or, at its option, endorsed on the reverse side of the Note by the Lender and the unpaid principal balance at any time so recorded or endorsed by the Lender shall be prima facie evidence in any court or other proceedings brought to enforce the Note of the principal amount remaining unpaid thereon.
Appears in 1 contract
Samples: Leveraged Esop Commitment Letter (Security of Pennsylvania Financial Corp)
The Note. The disbursement of the Loan pursuant to Section 1.1 -------- hereof shall be made against and evidenced by a promissory note of the Borrower in the form annexed hereto as Exhibit A (the "Note"), such Note to bear interest as hereinafter provided, and shall become due and payable to mature in ________ (___) consecutive equal annual equal installments consisting of both principal and interest amortized over a ________ (__) year period in an amount sufficient to repay the Loan all borrowed amounts plus interest, commencing on __________________, 1998 _ and on the last day of each and _________every ___________ each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be due on on________________, the final maturity thereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan made by the Lender under Section 1.1 hereof less all payments of principal actually received by the Lender. The amount of such disbursement made by the Lender and any repayments of principal thereof shall be recorded by the Lender on its books or records or, at its option, endorsed on the reverse side of the Note by the Lender and the unpaid principal balance at any time so recorded or endorsed by the Lender shall be prima facie evidence in any court or other proceedings brought to enforce the Note of the principal amount remaining unpaid thereon.
Appears in 1 contract
The Note. The disbursement of the Loan pursuant to Section 1.1 -------- hereof shall be made against and evidenced by a promissory note of the Borrower in the form annexed hereto as Exhibit A (the "Note"), such Note to bear interest as hereinafter provided, and shall become due and payable in ________ fifteen (___15) consecutive equal annual equal installments consisting of both principal and interest amortized over a ________ fifteen (__15) year period in an amount sufficient to repay the Loan plus interest, commencing on _________________ __, 1998 and on the last day Business Day of each and ________every ____________ each year thereafteryear, except that the final installment in the amount of all principal and interest not sooner paid shall be due on _______________ __, __ the final maturity thereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan made by the Lender under Section 1.1 hereof less all payments of principal actually received by the Lender. The amount of such disbursement made by the Lender and any repayments of principal thereof shall be recorded by the Lender on its books or records or, at its option, endorsed on the reverse side of the Note by the Lender and the unpaid principal balance at any time so recorded or endorsed by the Lender shall be prima facie evidence in any court or other proceedings brought to enforce the Note of the principal amount remaining unpaid thereon.
Appears in 1 contract
The Note. The disbursement of the Loan pursuant to Section 1.1 -------- hereof shall be made against and evidenced by a promissory note of the Borrower in the form annexed hereto as Exhibit A (the "Note"), such Note to bear interest as hereinafter provided, and shall become due and payable to mature in ________ twenty (___20) consecutive equal annual equal installments consisting of both principal and interest amortized over a ________ twenty (__20) year period in an amount sufficient to repay the Loan all borrowed amounts plus interest, commencing on __________________, 1998 _ and on the last day of each and ______every ______________ each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be due on ________________, the final maturity thereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan made by the Lender under Section 1.1 hereof less all payments of principal actually received by the Lender. The amount of such disbursement made by the Lender and any repayments of principal thereof shall be recorded by the Lender on its books or records or, at its option, endorsed on the reverse side of the Note by the Lender and the unpaid principal balance at any time so recorded or endorsed by the Lender shall be prima facie evidence in any court or other proceedings brought to enforce the Note of the principal amount remaining unpaid thereon.
Appears in 1 contract
The Note. The disbursement of the Loan pursuant to Section 1.1 hereof -------- hereof shall be made against and evidenced by a promissory note of the Borrower in the form annexed hereto as Exhibit A (the "Note"), such Note is to bear interest as hereinafter provided, and shall become due and payable to mature in ________ fifteen (___15) consecutive equal annual equal installments consisting of both principal and interest amortized over a ________ fifteen (__15) year period in an amount sufficient to repay the Loan all borrowed amounts plus interest, commencing on ______on____________, 1998 199__ and on the last day of each and ____________________ every December each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be due on on______________, 20__, the final maturity thereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan made by the Lender under Section 1.1 hereof less all payments of principal actually received by the Lender. The amount of such disbursement made by the Lender and any repayments of principal thereof shall be recorded by the Lender on its books or records or, at its option, endorsed on the reverse side of the Note by the Lender and the unpaid principal balance at any time so recorded or endorsed by the Lender shall be prima facie evidence in any court or other proceedings brought to enforce the Note of the principal amount remaining unpaid thereon.
Appears in 1 contract
Samples: Funding Commitment Agreement (South Jersey Financial Corp Inc)
The Note. The disbursement of the Loan pursuant to Section 1.1 -------- hereof shall be made against and evidenced by a promissory note of the Borrower in the form annexed hereto as Exhibit A (the "Note"), such Note is to bear interest as hereinafter provided, and shall become due and payable to mature in ________ [number] (___#) consecutive equal annual equal installments consisting of both principal and interest amortized over a ________ [number] (__#) year period in an amount sufficient to repay the Loan all borrowed amounts plus interest, commencing on __________________December 31, 1998 and on the last day of each and ____________________ every December each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be due on ________________[Date], the final maturity thereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan made by the Lender under Section 1.1 hereof less all payments of principal actually received by the Lender. The amount of such disbursement made by the Lender and any repayments of principal thereof shall be recorded by the Lender on its books or records or, at its option, endorsed on the reverse side of the Note by the Lender and the unpaid principal balance at any time so recorded or endorsed by the Lender shall be prima facie evidence in any court or other proceedings brought to enforce the Note of the principal amount remaining unpaid thereon.
Appears in 1 contract
Samples: Loan and Security Agreement (West Essex Bancorp Inc)
The Note. The disbursement of the Loan pursuant to Section 1.1 hereof -------- hereof shall be made against and evidenced by a promissory note of the Borrower in the form annexed hereto as Exhibit A (the "Note"), such Note to bear interest as hereinafter provided, and shall become due and payable to mature in ________ (___) consecutive equal annual equal installments consisting of both principal and interest amortized over a _________ (___) year period in an amount sufficient to repay the Loan all borrowed amounts plus interest, commencing on _______________, 200___, 1998 and on the last day of each and ______every ______________ each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be due on _______________, 20_, __ the final maturity thereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan made by the Lender under Section 1.1 hereof less all payments of principal actually received by the Lender. The amount of such disbursement made by the Lender and any repayments of principal thereof shall be recorded by the Lender on its books or records or, at its option, endorsed on the reverse side of the Note by the Lender and the unpaid principal balance at any time so recorded or endorsed by the Lender shall be prima facie evidence in any court or other proceedings brought to enforce the Note of the principal amount remaining unpaid thereon.
Appears in 1 contract
Samples: Esop Funding Commitment (Berkshire Hills Bancorp Inc)
The Note. The disbursement of the Loan pursuant to Section 1.1 hereof -------- hereof shall be made against and evidenced by a promissory note of the Borrower in the form annexed hereto as Exhibit A (the "Note"), such . Such Note is to bear interest as hereinafter provided, and shall become due and payable to mature in ________ [number] (___#) consecutive equal annual equal installments consisting of both principal and interest amortized over a ________ [number] (__#) year period in an amount sufficient to repay the Loan all borrowed amounts plus interest, commencing . Repayment of the Note will commence on __________________December 31, 1998 and continue on the last day 31st of each and ____________________ every December each year thereafter, except that with the final installment in the amount of all principal and interest not sooner paid shall be due on ________________[Date], the final maturity thereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan made by the Lender under Section 1.1 hereof less all payments of principal actually received by the Lender. The amount of such disbursement made by the Lender and any repayments of principal thereof shall be recorded by the Lender on its books or records or, at its option, endorsed on the reverse side of the Note by the Lender and the unpaid principal balance at any time so recorded or endorsed by the Lender shall be prima facie evidence in any court or other proceedings brought to enforce the Note of the principal amount remaining unpaid thereon.
Appears in 1 contract
Samples: Loan and Security Agreement (Massachusetts Fincorp Inc)
The Note. The disbursement of the Loan pursuant to Section 1.1 hereof -------- hereof shall be made against and evidenced by a promissory note of the Borrower in the form annexed hereto as Exhibit A (the "Note"), such Note is to bear interest as hereinafter provided, and shall become due and payable to mature in ________ forty (___40) consecutive annual equal quarterly installments consisting of both principal and interest amortized over a ________ forty (__40) year month period in an amount sufficient to repay the Loan all borrowed amounts plus interest, commencing on ___________________ 31, 1998 1999 and on the last day of each and ____________________ every March, June, September and December of each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be due on _______________ 31, 20__, the final maturity thereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan made by the Lender under Section 1.1 hereof less all payments of principal actually received by the Lender. The amount of such disbursement made by the Lender and any repayments of principal thereof shall be recorded by the Lender on its books or records or, at its option, endorsed on the reverse side of the Note by the Lender and the unpaid principal balance at any time so recorded or endorsed by the Lender shall be prima facie evidence in any court or other proceedings brought to enforce the Note of the principal amount remaining unpaid thereon.
Appears in 1 contract
Samples: Commitment Letter (PFSB Bancorp Inc)