CONSTRUCTION LOAN NOTE
$11,047,700 August 7, 1997
FOR VALUE RECEIVED, the undersigned, ARIZONA HEART HOSPITAL, LLC, an
Arizona limited liability company (the "Borrower"), hereby promises to pay to
the order of NATIONSBANK, N.A. (the "Bank"), at the times, at the place and in
the manner provided in the Loan Agreement hereinafter referred to, the principal
sum of up to ELEVEN MILLION FORTY-SEVEN THOUSAND SEVEN HUNDRED DOLLARS
($11,047,700), or, if less, the aggregate unpaid principal amount of all
Construction Loans disbursed by the Bank under the Loan Agreement referred to
below, together with interest at the rates as in effect from time to time with
respect to each portion of the principal amount hereof, determined and payable
as provided in the Loan Agreement.
This Note is a Construction Loan Note referred to in, and is entitled to
the benefits of, the Loan Agreement dated as of August 7, 1997 (as amended,
restated or otherwise modified, the "Loan Agreement"), by and among the
Borrower, the lenders (including the Bank) referred to therein (the "Lenders")
and NationsBank, N.A., as Agent. The Loan Agreement contains, among other
things, provisions for the time, place and manner of payment of this Note, the
determination of the interest rate borne by and fees payable in respect of this
Note, acceleration of the payment of this Note upon the happening of certain
stated events and the mandatory repayment of this Note under certain
circumstances.
The Borrower agrees to pay on demand all costs of collection, including
reasonable attorneys' fees, if any part of this Note, principal or interest, is
collected after maturity with the aid of an attorney.
Presentment for payment, notice of dishonor, protest and notice of protest
are hereby waived.
THIS NOTE IS MADE AND DELIVERED IN THE STATE OF NORTH CAROLINA AND SHALL BE
CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NORTH
CAROLINA.
The Debt evidenced by this Note is senior in right of payment to all
Subordinated Debt referred to in the Loan Agreement.
IN WITNESS WHEREOF, the Borrower has caused this Construction Loan Note to
be executed under seal by a duly authorized officer as of the day and year first
above written.
(CORPORATE SEAL) By: AHH Management, Inc., acting on
behalf of Arizona Heart Hospital, LLC
By: /s/ Xxxxxxx X. Post
Name: Xxxxxxx X. Post
Title: Treasurer
CONSTRUCTION LOAN NOTE
$11,047,700 August 7, 1997
FOR VALUE RECEIVED, the undersigned, ARIZONA HEART HOSPITAL, LLC, an
Arizona limited liability company (the "Borrower"), hereby promises to pay to
the order of KEY CORPORATE CAPITAL INC. (the "Bank"), at the times, at the place
and in the manner provided in the Loan Agreement hereinafter referred to, the
principal sum of up to ELEVEN MILLION FORTY-SEVEN THOUSAND SEVEN HUNDRED DOLLARS
($11,047,700), or, if less, the aggregate unpaid principal amount of all
Construction Loans disbursed by the Bank under the Loan Agreement referred to
below, together with interest at the rates as in effect from time to time with
respect to each portion of the principal amount hereof, determined and payable
as provided in the Loan Agreement.
This Note is a Construction Loan Note referred to in, and is entitled to
the benefits of, the Loan Agreement dated as of August 7, 1997 (as amended,
restated or otherwise modified, the "Loan Agreement"), by and among the
Borrower, the lenders (including the Bank) referred to therein (the "Lenders")
and NationsBank, N.A., as Agent. The Loan Agreement contains, among other
things, provisions for the time, place and manner of payment of this Note, the
determination of the interest rate borne by and fees payable in respect of this
Note, acceleration of the payment of this Note upon the happening of certain
stated events and the mandatory repayment of this Note under certain
circumstances.
The Borrower agrees to pay on demand all costs of collection, including
reasonable attorneys' fees, if any part of this Note, principal or interest, is
collected after maturity with the aid of an attorney.
Presentment for payment, notice of dishonor, protest and notice of protest
are hereby waived.
THIS NOTE IS MADE AND DELIVERED IN THE STATE OF NORTH CAROLINA AND SHALL BE
CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NORTH
CAROLINA.
The Debt evidenced by this Note is senior in right of payment to all
Subordinated Debt referred to in the Loan Agreement.
IN WITNESS WHEREOF, the Borrower has caused this Construction Loan Note to
be executed under seal by a duly authorized officer as of the day and year first
above written.
ARIZONA HEART HOSPITAL, LLC (SEAL)
(CORPORATE SEAL) By: AHH Management, Inc., acting on
behalf of Arizona Heart Hospital, LLC
By: /s/ Xxxxxxx X. Post
Name: Xxxxxxx X. Post
Title: Treasurer
CONSTRUCTION LOAN NOTE
$5,449,600 August 7, 1997
FOR VALUE RECEIVED, the undersigned, ARIZONA HEART HOSPITAL, LLC, an
Arizona limited liability company (the "Borrower"), hereby promises to pay to
the order of AMSOUTH BANK (the "Bank"), at the times, at the place and in the
manner provided in the Loan Agreement hereinafter referred to, the principal sum
of up to FIVE MILLION FOUR HUNDRED FORTY-NINE THOUSAND SIX HUNDRED DOLLARS
($5,449,600), or, if less, the aggregate unpaid principal amount of all
Construction Loans disbursed by the Bank under the Loan Agreement referred to
below, together with interest at the rates as in effect from time to time with
respect to each portion of the principal amount hereof, determined and payable
as provided in the Loan Agreement.
This Note is a Construction Loan Note referred to in, and is entitled to
the benefits of, the Loan Agreement dated as of August 7, 1997 (as amended,
restated or otherwise modified, the "Loan Agreement"), by and among the
Borrower, the lenders (including the Bank) referred to therein (the "Lenders")
and NationsBank, N.A., as Agent. The Loan Agreement contains, among other
things, provisions for the time, place and manner of payment of this Note, the
determination of the interest rate borne by and fees payable in respect of this
Note, acceleration of the payment of this Note upon the happening of certain
stated events and the mandatory repayment of this Note under certain
circumstances.
The Borrower agrees to pay on demand all costs of collection, including
reasonable attorneys' fees, if any part of this Note, principal or interest, is
collected after maturity with the aid of an attorney.
Presentment for payment, notice of dishonor, protest and notice of protest
are hereby waived.
THIS NOTE IS MADE AND DELIVERED IN THE STATE OF NORTH CAROLINA AND SHALL BE
CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NORTH
CAROLINA.
The Debt evidenced by this Note is senior in right of payment to all
Subordinated Debt referred to in the Loan Agreement.
IN WITNESS WHEREOF, the Borrower has caused this Construction Loan Note to
be executed under seal by a duly authorized officer as of the day and year first
above written.
(CORPORATE SEAL) By: AHH Management, Inc., acting on
behalf of Arizona Heart Hospital, LLC
By: /s/ Xxxxxxx X. Post
Name: Xxxxxxx X. Post
Title: Treasurer
