HomeMy WebLinkAbout92- Lattice Materials Corp. Promissory Note
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EXHIBIT A
PROMISSORY NOTE
$200,000.00 at 8% / annum for 9 years
Bozeman, Montana
L:::' Dc 10 e,B::. , 1992
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FOR VALUE RECEIVED, Lattice Materials Corporation, 516 West Tamarack,
Bozeman, Montana, hereinafter referred to as "Borrower", promise to pay to the order
of the City of Bozeman, Montana, 411 East Main Street, Bozeman, Montana, the sum
of TWO HUNDRED THOUSAND and NO/10oths DOLLARS ($200,000.00) as follows:
Monthly payments of principal only in the amount of Six hundered dollars
($600.00) shall be made commencing on October 1, 1992 and shall run continuously
until March 1, 1993 at which time the principal balance of ONE HUNDRED NINETY
SEVEN THOUSAND AND NO/100ths ($197,000) shall be amortized over a nine (9)
year period of time at an interest rate of eight (8) per cent per annum payable in
monthly installments becoming due and payable on the first day of the month in which
said installment becomes due and payable, with the first payment due on March 1,
1993, and due monthly thereafter until all principal and interest is paid. The Borrower
agrees to pay a late charge of two per cent (2%) of the scheduled installment for any
payment not made by the 20th day of the month in which it becomes due and payable.
All installments shall be first applied to late charges, then interest and thereafter to
principal. There will be no penalty for prepayment of the loan.
DATED THIS 2-3 day of OC IOB~ , 1992.
LATTICE MATERIALS CORPORATION
STATE OF MONTANA )
ss
County of Gallatin d) rJ c.klJp r
On the d3' day of , 1992, before me, a Notary
Public for the State of Montana, personally appeared John L. Tengelsen, known to me
to be the president of Lattice Materials Corporation, the corporation that executed the
foregoing Promissory Note and acknowledged to me that he executed the same for
and on behalf of said corporation.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my seal on
the day and year first written above.
'cJl ,
l
Notary Public for Stae of ontana
Residing at Bozeman, Montana
My Commission Expires: 1;;--/1- c? ;)-
(SEAL)