Exhibit 6(a)
Agreement by and between
Xxxxxxx Xxxxxx and Xxxxx Xxxxx
PROMISSORY NOTE
$270,000.00 July 26, 1996
FOR VALUE RECEIVED, the undersigned XXXXXXX XXXXXX, an adult resident
of the State of Wisconsin ("Maker"), promises to pay to the order of XXXXX
XXXXX, an adult resident of the State of Wisconsin ("Payee"), or his assigns, at
X000 X000 Xxxxxxxx Xxxx, Xxxxxxxx, Xxxxxxxxx 00000, or such other place as Payee
shall, from time to time, designate in writing to Maker, the principal sum of
Two Hundred and Seventy Thousand Dollars ($270,000.00), in lawful money of the
United States of America, plus interest as set forth below.
Principal is payable in quarterly installments of $67,500 each, due
January 1, 1997 and on the first day of each third month thereafter. Interest,
at the rate of 10% per year, is also payable at the time principal payments are
due, calculated on the unpaid principal amounts from July 26, 1996.
Notwithstanding the foregoing, Maker may prepay all or any part of the
unpaid balance of this Note at any time, and from time to time, without premium
or penalty, provided that no partial prepayment hereunder shall in any way
affect Maker's obligation to pay the remaining balance in full as required
herein.
In the event of a default hereunder all amounts due and payable shall,
at the option of Payee, without notice, become due, and shall accrue interest at
a default rate of fifteen percent (15%) per year. In addition, the undersigned
shall pay all costs of collection, including reasonable attorneys' fees.
Maker hereby waives presentment, protest, demand and notice of
dishonor. Maker acknowledges receipt of an exact copy of this Note.
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Xxxxxxx Xxxxxx, personally
MTC/ej/186397
