HomeMy WebLinkAbout00- Yellowstone Sports Center, Inc.; 2000 FLHPI Harley-Davidson
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PROMISSORY NOTE
FOR V ALUE RECEIVED, the City of Bozeman, promises to pay to the order of
Yellowstone Sports Center, Inc. dba Y ellowstone Harley~Davidson the sum of $15,000.00 in
lawful money of the United States, negotiable and payable to payee with no interest before
maturity and at the rate of 12% per annum if the Note is not paid on or before October 2,2000,
This Note shall be due and payable in full on October 2, 2000. It is understood and
agreed that this Note is secured by a 2000 FLHPI Harley-Davidson motorcycle with a vehicle
identification number of IHDIFHWll YY639582, In the event that the City of Bozeman
returns the Harley-Davidson motorcycle to Yellowstone Harley-Davidson in good condition on
or before October 2, 2000, this Note shall be deemed paid in full and no monetary payments
shall be due from the City of Bozeman to Yellowstone Harley-Davidson,
In the event of default, it is agreed that the holder of this note may recover such
necessary expenses as may be incurred in collection, including a reasonable attorney fee. The
maker hereof waives presentment, demand, protest and notice thereof,
DATED this l~ day of r1'\~ ,2000
CITY OF BOZEMAN
BY 1 :1---
ARK. V. JOHNSON
City Manager
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SECURITY AGREEMENT
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Agreement is made and entered into this 1 day of ~ 2000 by and
between the City of Bozeman, 411 East Main, Bozeman, Montana 5971 , hereinafter referred
to as "debtor," and Yellowstone Sports Center, Inc. dba Yellowstone Harley-Davidson ofP. O. Box
569, Belgrade, Montana 59714 hereinafter referred to as "Secured Party";
WHEREAS, in consideration of the mutual covenants and promises set forth herein,
Debtor and Secured Party agree as follows:
1. Creation of Security Interest.
Debtor hereby grants to Secured Party a security interest in the collateral described in
Paragraph 2 of this agreement to secure the performance and payment of a Promissory Note in
the amount of $15,000.00,
2. Description of Collateral.
The collateral of this security agreement, hereinafter referred to as "collateral," consists
of a 2000 FLHPI Harley-Davidson motorcycle, VIN # IHDIFHWII YY639582.
Debtor's Obligations, Generally.
Debtor shall pay to Secured Party the sum evidenced by the above mentioned Promissory
Note in accordance with the terms of such Promissory Note.
Debtor agrees to maintain appropriate liability insurance on the collateral until the
Promissory Note secured hereby is paid in full.
4. Payment of Promissory Note.
It is understood and agreed that in the event that the City of Bozeman returns the
collateral to Yellowstone Harley.Davidson in good condition on or before October 2, 2000, that
the Promissory Note secured by this Agreement shall be deemed paid in full and no monetary
payments shall be due from the City of Bozeman toY ellowstone Harley-Davidson pursuant to the
Promissory Note secured by this Agreement.
5, Proceeds of Collateral.
Debtor hereby grants to Secured Party a security interest in and to all proceeds of
collateral, as defined by Section 30-9-306, M,C,A. This provision shall not be construed to mean
that Debtor is authorized to sell, lease, or otherwise dispose of collateral without the written
consent of Secured Party unless otherwise provided in this Agreement.
IN WITNESS WHEREOF, the parties hereto have executed this agreement the day and
year first above written.
SECURED PARTY: DEBTOR:
YELLOWSTONE HARLEY -DAVIDSON CITY OF BOZEMAN
By: --!l~ ~ B4 ~ --\ -
ARDYCE D~VRIES CLARK V. JOHNSON
ITS: (-E'St&~ City Manager
ATTEST:
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ROBIN L. SULLIVAN
Clerk of the Commission
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..,. ,..,' ~""""",,,~'<i,ODOMETER DISCLOSURE ST ~t~~E:NT
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'FEDERAL LAW (AND ~TE LAW, IF APPLICABLE) REQUIRES THAT YOU STATE THE MlLEAClE UPON
TRANSFER OF OWN€FisHIP. FAILURE TO COMPLETE'OR PAOVIDINGAfALSE STATEMENT MAY RESULT
IN FINES MilD/OR IMPRISONMENT.
I, Y t> ."()Co \. +~.''<- ~a. ,.l~ ...oct \l i.dSo "" $TATETHAT
. . (TRANSFEROR'S NAME. SELLER. PRlNTI
THE ODOMETER NOW READS . .;J M ;/-{".5 MILES AND TO THE
i '. . OOOMETER READING (NO TENTHS)
BES6f' " MY KNOWLEDGE. THAT IT REFLECTS THE ACTUAL MILEAGE. '. 0.. f THE VEK.ICLE
DES, ED BELOW, UNLESSQNEOFTHE FOLLOWING STATEMENTS IS GHECKED.
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o (1) I IiIEREBY CERi:'FY THAT TO THE BEST OF, MY KNOWLEDGE THE ODOMETER
READING REFL '.' .TS THE AMOUNT OF MILEA. G. E IN EXCESS OF ITS MECHANICAL
LIMITS.
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o (2) I HEREBY CERT.I.F\' THAT.THE 0.00. METE.. R R....~........._.,ING IS NOT THE ACTUAL MILE-
AGE. WARNING -,pooMETER DlSCREPA~." "" ,
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DEALER. STOCK NO,
EXTRA COpy (STATE COpy IF NECES$ARY)