FIVE YEAR ADJUSTABLE TERM NOTE $1,659,000.00 New Britain, Connecticut March 5, 2004 For value received, the undersigned APEX MACHINE TOOL COMPANY, INC., a Connecticut corporation and EDAC TECHNOLOGIES CORPORATION, a Wisconsin corporation, with an...Five Year Adjustable Term Note • May 6th, 2004 • Edac Technologies Corp • Aircraft engines & engine parts
For value received, the undersigned APEX MACHINE TOOL COMPANY, INC., a Connecticut corporation and EDAC TECHNOLOGIES CORPORATION, a Wisconsin corporation, with an address of 1806 New Britain Avenue, Farmington, Connecticut (the "Borrower"), jointly and severally promise to pay to the order of BANKNORTH, N.A., a national banking association with an address of 102 West Main Street, New Britain, Connecticut (together with its successors and assigns, the "Bank"), the principal amount of ONE MILLION SIX HUNDRED FIFTY NINE THOUSAND DOLLARS AND ZERO CENTS ($1,659,000.00) on or before April 1, 2014 (the "Maturity Date"), as set forth below, together with interest from the date hereof on the unpaid principal balance from time to time outstanding until paid in full. The Borrower shall make a payment of accrued interest on the outstanding principal balance on April 1, 2004. Thereafter, the Borrower shall pay consecutive monthly installments of principal and interest, as follows: $12,451.87 on May
