Common Contracts
2 similar Promissory Note contracts by Innsuites Hospitality Trust
PROMISSORY NOTEPromissory Note • September 6th, 2002 • Innsuites Hospitality Trust • Real estate investment trusts
FOR VALUED RECEIVED, and legally bound hereby, RRF LIMITED PARTNERSHIP (“Maker”), a Delaware partnership, InnSuites Hospitality Trust, General Partner, an Ohio real estate investment trust, having an office at 1615 East Northern Avenue, Suite 102, Phoenix, Arizona 85020 hereby promises to pay to the order of Rare Earth Development Company (“Payee”), an Arizona corporation, 1615 East Northern Avenue, Suite 102, Phoenix, Arizona 85020 or such other place as the holder hereof may, from time to time, designate in writing, the principal sum of THREE MILLION EIGHT HUNDRED TWO THOUSAND FIVE HUNDRED AND NO/100 DOLLARS ($3,802,500.00), bearing interest on the unpaid principal balance at the rate of seven percent (7.00%) per annum, computed on a three hundred sixty (360)-day year, to be due and payable in installments of principal and interest to the maturity date on July 15, 2007 (the “Maturity Date”) as follows:
PROMISSORY NOTEPromissory Note • September 6th, 2002 • Innsuites Hospitality Trust • Real estate investment trusts
FOR VALUED RECEIVED, and legally bound hereby, RRF LIMITED PARTNERSHIP (“Maker”), a Delaware partnership, InnSuites Hospitality Trust, General Partner, an Ohio real estate investment trust, having an office at 1615 East Northern Avenue, Suite 102, Phoenix, Arizona 85020 hereby promises to pay to the order of Rare Earth Development Company (“Payee”), an Arizona corporation, 1615 East Northern Avenue, Suite 102, Phoenix, Arizona 85020 or such other place as the holder hereof may, from time to time, designate in writing, the principal sum of THREE HUNDRED ELEVEN THOUSAND EIGHT HUNDRED EIGHT AND 97/100 DOLLARS ($311,808.97), bearing interest on the unpaid principal balance at the rate of seven percent (7.00%) per annum, computed on a three hundred sixty (360)-day year, to be due and payable in installments of principal and interest as follows:
