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Ail interest hereon shall be cgmputed on the <br />basis of the actual number of days elapsed on the <br />assumptions that each month contains thirty (30) days and <br />each year three hundred sixty (360) days, except that <br />prior to the first day of the month following the <br />Completion Date, the payment required hereunder'shall be <br />made on the basis of actual days elapsed in a three <br />hundred sixty (360) day year. <br /> <br /> Notwithstanding the foregoing~ in the event that <br />the interest on this Note becomes subject to taxation <br />pursuant to a Determination of Taxabi'lity as defined in <br />the Combination Mortgage, Security Agreement and Fixture <br />Financing Statement of even date herewith (the Mortgage) <br />between August E. Grosslein and LaVerne G. Grosslein <br />(collectively, the Borrower) and the Holder, the interest <br />rate on the Note shall automatically be increased to <br />eleven and one-half percent (~1-1/2%) per annum .from the <br />Date of Taxability as defined in the Mortgage, in which <br />case the monthly installment payments hereunder from and <br />after such Date of Taxability shall be computed at such <br />increased rate and the City shall pay to the Holder of <br />this Note and to any prior Holder affected thereby the <br />aggregate difference between (1) the amounts actually paid <br />between the Date of Taxability and the date of such <br />payment and (2) the amounts that would have been paid <br />during such period at such increased interest rate. <br /> <br /> The principal of this Note is not subject to <br />prepayment prior to the expiration of the fifth loan <br />year. From and after the expiration of the fifth loan <br />year, the principal of this Note may be prepaid at any <br />time, either in whole or in part, on any monthly <br />installment payment date upon payment of a price equal to <br />the principal being'so prepaid plus accrued interest to <br />the date of prepayment and subject to a premium expressed <br />as a percentage of the principal being so prepaid as <br />follows: <br /> <br />Loan Year <br /> <br />Premium <br /> <br />6 through 10 <br />11 or thereafter <br /> <br />2% <br />1% <br /> <br /> The first loan year is defined as the <br />twelve-month (12) period commencing on the first day of <br />the month following the Completion Date. Subsequent loan <br />years shall run consecutively, each commencing upon the <br />anniversary of the commencement of the first loan year. <br />Any prepayment shall be made on at least thirty (30) days' <br /> <br />-2- <br /> <br /> <br />