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EXHIBIT 10.4
EXHIBIT C-2
FORM OF SWING LINE NOTE
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FOR VALUE RECEIVED, the undersigned (the "Borrower"), hereby
promises to pay to the order of Bank of America, N.A. (the "Swing Line Lender"),
on the Maturity Date (as defined in the Credit Agreement referred to below) the
principal amount of $___________________, or such lesser principal amount of
Swing Line Loans (as defined in the Credit Agreement referred to below) payable
by Borrower to Swing Line Lender on such Maturity Date under that certain Credit
Agreement dated as of August __, 1999 among AIMCO PROPERTIES, L.P., a Delaware
limited partnership ("Borrower"), Lenders from time to time party thereto, BANK
OF AMERICA, N.A., as Administrative Agent, Issuing Lender and a Co-Lead Agent,
BANKBOSTON, N.A., as a Lender, a Co-Lead Agent and Syndication Agent, and FIRST
UNION NATIONAL BANK, as a Lender and Documentation Agent (as amended, restated,
extended, supplemented or otherwise modified in writing from time to time, the
"Agreement;" the terms defined therein being used herein as therein defined).
Borrower promises to pay interest on the unpaid principal
amount of each Swing Line Loan from the date of such Swing Line Loan until such
principal amount is paid in full, at such interest rates, and payable at such
times as are specified in the Credit Agreement.
All payments of principal and interest shall be made to
Administrative Agent for the account of Swing Line Lender in United States
dollars in immediately available funds at Administrative Agent's Payment Office.
If any amount is not paid in full when due hereunder, such
unpaid amount shall bear interest, to be paid upon demand, from the due date
thereof until the date of actual payment (and before as well as after judgment)
computed at the per annum rate set forth in the Credit Agreement.
This Note is one of the "Swing Line Loan Notes" referred to in
the Credit Agreement. Reference is hereby made to the Credit Agreement for
rights and obligations of payment and prepayment, events of default and the
right of Lender to accelerate the maturity hereof upon the occurrence of such
events.
Borrower, for itself, its successors and assigns, hereby
waives diligence, presentment, protest and demand and notice of protest, demand,
dishonor and non-payment of this Note.
Borrower agrees to pay all collection expenses, court costs
and Attorney Costs (whether or not litigation is commenced) which may be
incurred by Lender in connection with the collection or enforcement of this
Note.
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THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF CALIFORNIA.
AIMCO PROPERTIES, L.P.,
a Delaware limited partnership
By: AIMCO-GP, INC.,
a Delaware corporation
Its: General Partner
By:
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Xxxxx X. Xxxxxxxxx
President
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LOANS AND PRINCIPAL PAYMENTS
AMOUNT OF OUTSTANDING
END OF PRINCIPAL OR PRINCIPAL
TYPE OF AMOUNT OF INTEREST INT. PAID BALANCE THIS NOTATION
DATE LOAN MADE LOAN MADE PERIOD THIS DATE DATE MADE BY
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