Laserfiche WebLink
KR'OM lET AMER-BANK-BLM-MN 05.22.1990 11:05 P. ~2 <br /> <br /> FI£$T PRAIRIE BANK <br /> ~l~st In Trad/tlooa! ~nd ~ern H~a~dat Se~ce~' <br />~eh ~2, 1990 <br /> <br />A.D.B., Inz. <br />6015 Radium Circle <br />Ramsay, HN 55303 <br /> <br />Gentlemen~ <br /> <br />First Prairie Bank is pleased to inform you that it has approved a loan to <br />your company to finance the start up costs associated with your proposed new <br />off-sale liquor store to be located at the Intersection of County Road ~83 and <br />U.S. Bwy. Il0, in Ramsay, Hinnesota. T~e terms under which this 1eau ~ill be <br />granted a~e listed below. <br /> <br />LOAN PROPOSAL <br /> <br />A.D.H.~ Inc. <br /> <br />Amount: $150,000.00 <br /> <br />84 months full amortizing <br /> <br />Interest Rate: <br /> <br />Repayment <br /> <br />American National Bank Of St. Paul P~ime, plus 1.0l <br />adjustable monthly (currently 11.01, Floor 9.5~, and a <br />ceiltn$ of <br /> <br />$2,570.00 monthly payment to be applieJ to interest then to <br />principal. <br /> <br />Gua=antees~ <br /> <br />Financial <br /> Reporting: <br /> <br />Unlimited personal sua~antees from each shareholder, secured <br />by liquid assets o£ ahareholde~ in an aggregate minimum <br />amount of $100,000. (pzefezable CD in Pirst Prairie Bank. <br />Other marketable security will be acceptable to the Bank. <br />The Bank collateral value will be limited to 75X of the <br />current market value'as listed in the Wall Street Journal or <br />aimllaz publication on the date of closint). <br /> <br />Quarterly financial statement, and year end accountant <br />prepared statement from A.D.H., Inc. and personal financial <br />statement and tax return f~om shareholders annually. <br /> <br />If you have any questions regarding this matter, please feel free to contact <br />me at your convenience. <br /> <br />Sincerely, <br /> <br />Kenneth t. Ho~ris <br />Assistant Vice P~esiden~ <br /> <br />Kbg/cc <br /> <br />..~13 ~. AIAIN $~ · BLOOMING PRAIKII$ MN 33917 · Phone ($0~ 353.~$2& * Fax (307) 383.Z'.Jgl <br /> <br /> <br />