Laserfiche WebLink
86 - 100111 <br />Promissory Note, Deed of Trust, Original Guarantee and Original <br />Loan Documents. <br />2. New Legal Description. The Borrower warrants and <br />represents that it is the owner of only the units defined in <br />Exhibit "B" which is attached hereto and incorporated herein by <br />this reference. <br />3. The Second Promissory Note is a valid subsisting <br />obligation of the Borrower in the principal amount of $1,070,000 <br />with an unpaid balance on September 30, 1985 of $582,621. <br />4. The Borrower has no defenses or offsets against the <br />payment of principal or interest of the unpaid balance as set <br />forth in paragraph 3 above. <br />5. The maturity date of the Second Promissory Note is <br />extended until December 31, 1985 with rate and payment of <br />interest on the extended balance computed according to the terms <br />and conditions of the Second Promissory Note. <br />6. The maturity date of the Second Promissory Note may be 5 <br />N, <br />further extended until March 31, 1985 with rate and payment of <br />interest on the extended balance computed according to the terms <br />and conditions of the Second Promissory Note upon the payment of <br />a refinancing fee equal to 1/4 of one percent (17) of the unpaid <br />loan balance on December 31, 1985 paid by or before January 5, <br />1986. <br />7. Continued Liability. The Borrower, Guarantor, and all <br />other parties who are or hereafter may become primarily or <br />secondarily liable for the payment of the obligation evidenced by <br />the Loan Documents, as redefined herein, and any further <br />-4- <br />L <br />