REVOLVING LINE OF CREDIT PROMISSORY NOTE AND SECURITY AGREEMENT (UNSECURED)Note and Security Agreement • February 24th, 2010 • Frederick County Bancorp Inc • Savings institution, federally chartered • Pennsylvania
PROMISE TO PAY. For value received, Frederick County Bancorp, Inc. (“Borrower”), a Maryland corporation organized as the holding company of Frederick County Bank (the “Bank”), hereby agrees to pay to Atlantic Central Bankers Bank, a state banking institution chartered in the Commonwealth of Pennsylvania, (“Lender”) the sum of Four Million and No/100 Dollars ($4,000,000.00), or so much of the principal as may be outstanding, together with interest on the outstanding principal balance of each advance made by Lender under this Revolving Line of Credit Promissory Note and Security Agreement (Unsecured) (“Note”) at the rate set forth in this Note from the date of each advance by Lender under this Note until the principal balance of each advance under this Note is paid in full.
