NOTE
Exhibit
4.2
| $3,250.00 |
March 31,
2009
|
FOR VALUES RECEIVED on March 6, 2009 of
Two Thousand Dollars ($2,000.00) and March 13, 2009 of One thousand Two Hundred
Fifty Dollars ($1,250.00), the undersigned DOVER HOLDING CORPORATION, a Delaware
corporation, having an address at 0000 Xxxxx Xxxxxxx Xxxxxx, Xxxxxxxxx,
Xxxxxxxxx 00000 (hereinafter referred to as “Borrower”) hereby promises to pay
to the order of IRREVOCABLE CHILDREN’S TRUST NO.2 (hereinafter referred to as
“Payee”, Payee and its successors and assigns being referred to as “Holder”) at
0000 Xxxxx Xxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxxx 00000, or at such other place as
Holder may from time to time designate to Borrower in writing, the principal sum
of Three Thousand Two Hundred Fifty Dollars ($3,250.00), on the unpaid principal
balance thereof at the rate and on the terms hereinafter set forth, together
with interest thereon at the rate of 8% per annum on any unpaid balance, to be
paid in lawful money of the United States of America, as follows:
|
1.
|
Maturity. The
term “Maturity” shall mean March 31,
2010.
|
All
payments made hereunder shall be applied to payment of the reduction of the
outstanding principal.
This Note may be prepaid, in whole or
in part, at any time, without premium or penalty of any kind. Any partial
prepayment shall be applied to the last installments due under the terms of this
Note and shall not reduce monthly payments due hereunder.
To the fullest extent permitted by law,
Xxxxxxxx and each endorser and guarantor of this Note, for itself and themselves
and their respective heirs, personal representatives, successors and assigns,
hereby jointly and severally: (a) waive notice of maturity, demand, presentment
for payment, diligence in collection, and notice of non-payment and protest; (b)
waive all applicable execution, valuation, and appraisal rights with respect to
any demand or action on this Note; (c) consent and agree to any extension of
time, whether one or more, for the payment hereof and/or to any and all renewals
hereof; and (d) consent and agree that Holder may release any party liable for
the payment hereof, and otherwise amend this Note, and that any such extension,
release, or amendment may be without notice to and without discharging or
effecting the liability of any party liable hereunder.
Borrower and each endorser and
guarantor of this Note, for itself and themselves and their respective heirs,
personal representatives, successors and assigns, hereby agree that if this Note
is placed in the hands of an attorney for collection or to defend or enforce any
of the rights of Xxxxxx, then Borrower and each endorser and guarantor hereof
shall be jointly and severally obligated to pay, in addition to any and all
costs and disbursement otherwise allowed, all costs and expenses, including, but
not limited to reasonable attorney’s fees incurred by Xxxxxx in connection
therewith, whether or not suit is filed.
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If any term, covenant or condition of
this Note or the application thereof to any person or circumstance shall, to any
extent, be invalid or unenforceable, then the remainder of this Note, or the
application of such term, covenant or condition to persons or circumstances
other than those as to which it is held invalid or unenforceable shall not be
affected thereby. Each term, covenant, and condition of this Note shall be valid
and enforceable to the fullest extent permitted by law. This Note shall be
governed, in all respects, by the internal laws of the State of
Wisconsin.
IN WITNESS WHEREOF, Xxxxxxxx has caused
this Note to be duly executed, under seal, and delivered in Milwaukee,
Wisconsin, as of the day and year first above written.
| Xxxxx X. Xxxxx, President | |||
| Dover Holding Corporation | |||
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