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? ...,? <br />from the present 467 rate, the rate of interest on the Project Note <br />shall be increased or decreased as follows: The new rate of interest <br />shall be the Tax Equivalent Yield multiplied by the difference between 1 <br />and the new Tax Rate. The Project Note is payable as follows: <br />Interest only shall be payable on each Payment Date commencing <br />February 15, 1984 and continuing until March 15, 1984, inclusive. Com- <br />mencing April 15, 1984 and continuing until March 25, 1989, inclusive, <br />equal installments of principal and interest in the amount of Twenty-Two <br />Thousand Ninety-Two and 76/100 Dollars ($22,092.76), shall be payable on <br />each Payment Date. Thereafter, the amount of such monthly installments <br />shall be adjusted on the first Payment Date of each subsequent Interest <br />Period so that the amount of such monthly installments will be suffici- <br />ent to amortize the principal amount of the Project Note then outstand- <br />ing at the then applicable Interest Rate over the remaining term of the <br />Project Note. The Additional Interest shall be due and payable in two <br />equal installments of $12,500 each payable on February 15, 1984 and <br />March 15, 1984. <br />The Project Note shall mature on March 15, 2004. <br />The Project Note shall be prepaid in whole or in part without <br />penalty prior to stated maturity in the event of exercise by the Owner <br />of its option to prepay Loan Payments as provided in Section 8.1 of the <br />Agreement. In the event of partial prepayment, the amount to be prepaid <br />shall be paid as of any Payment Date to the Mortgagee and such prepay- <br />ments (minus the amount of any interest) shall be credited against the <br />principal payments of the Project Note in the direct order of its Pay- <br />12