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Commercial Promissory Note

 

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Title:

Commercial Promissory Note

Entities:

Signature Eyewear Inc

Date:

2006

Size:

Preview shows 5KB of 93KB total

Price:

$59

ID:

#1583300

 

 

► Loans ► Promissory Notes ► Commercial Promissory Notes

 

 

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COMMERCIAL PROMISSORY NOTE
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NAME(S)/ADDRESS(ES) OF BORROWER(S) ("Borrower, I, My or Me") NAME/ADDRESS OF LENDER (CREDITOR) ("Lender, You or Your")
SIGNATURE EYEWEAR, INC.
HOME LOAN INVESTMENT COMPANY
205 NORTH 4TH STREET
BY: MICHAEL PRINCE, CEO GRAND JUNCTION, CO 81501
498 N. OAK STREET
INGLEWOOD CA 90302
------------------------------------------------------------------------------------------------------------------------------------
NOTE NUMBER TRANSACTION DATE MATURITY DATE OFFICE OFFICER LOAN AMOUNT
100092449 10/3l/05 7/31/07 EBD 655,693.00
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For value received, on or before the Maturity Date, the undersigned Borrower promises to pay the principal amount, together with
interest, and any other charges, including service charges, to the order of the Lender at its office at the address noted above or
holder, all in lawful money of the United States of America. The undersigned further agrees to the terms below and on page two of
this Note.

Words, numbers or phrases preceded by a [_] are applicable only if the [_] is marked.
------------------------------------------------------------------------------------------------------------------------------------
PRINCIPAL AMOUNT - $ 655,693.00
Six hundred fifty five thousand six hundred ninety three & no/100
------------------------------------------------------------------------------------------------------------------------------------
PAYMENT SCHEDULE: [x] In 1 installments of $ [_] plus interest [x] including interest starting
[_] interest only starting and payable [_] monthly. [_] quarterly,
[_]
[X] interest, principal and other charges due on Maturity Date.
[_] other payment schedule:

INTEREST RATE:
This loan is subject to [x] a fixed interest rate of 12.0000% per [_] annum a variable simple interest rate, which is
% greater than: [_] equal to: [_] % less than: the following Index:

------------------------------------------------------------------------------------------------------------------------------------
Initial Variable Simple Present Variable Minimum Maximum Interest Rate
Interest Rate Interest Rate Interest Rate Interest Rate Changes Will Occur:
N/A % N/A % N/A % N/A % N/A %
------------------------------------------------------------------------------------------------------------------------------------
Interest will be calculated on the unpaid balance for the actual days outstanding on a: [x] 365/365 Day Basis. [_] / Day Basis.

DEFAULT RATE: If in default the interest rate shall be: [x] 25.000 % per annum. [_] % in excess of the Index.

LATE CHARGE: If Borrower is more than 10 days late in making any payment, in addition to such payment, Borrower will pay a late
charge of:

[_] the lesser of [_] the greater of [x] an amount equal to [x] $15.00 or [x] 5.000% of the payment in default.

PAYABLE ON DEMAND: [_] Payment is due upon demand. [X] Payment is due upon demand, but in any event, not later than Maturity Date.

LINE OF CREDIT: [_] If this Note is not in default, Lender may make advances an a continuing basis up to the Principal Amount.
------------------------------------------------------------------------------------------------------------------------------------
[_] Additional Note Provisions:
















------------------------------------------------------------------------------------------------------------------------------------
Security for this Note, if any, (the "Collateral") is granted pursuant to the following document(s) executed on the date(s) noted
below:

[X] security agreement dated 10/31/05

[_] mortgage, deed of trust, trust deed or security deed dated


 

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