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Document Preview Demand Note |
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Title: |
Demand Note |
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Date: |
2000 |
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Preview shows 2KB of 9KB total |
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Price: |
$33 |
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ID: |
#292032 |
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Demand Note
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$11,033,333.33 July 24, 2000
FOR VALUE RECEIVED, the undersigned, Nancy Bixby Hudson, Richard L.
Finn, and C. John Malacarne, as trustees of the Issue Trust for Nancy Bixby
Hudson created by agreement dated December 18, 1997 (collectively, "Maker"),
hereby promise to pay to the order of Joseph R. Bixby, as trustee of the Joseph
R. Bixby Revocable Trust created by agreement dated December 18, 1997 ("Payee"),
the principal sum of $11,033,333.33 on demand by Payee or, if demand is not
sooner made by Payee, on or before December 31, 2019, together with interest on
the unpaid balance thereof from the date hereof until maturity at the rate
herein provided.
Interest on the principal balance hereof shall accrue at a variable
rate, compounded monthly, equal to the lesser of (i) the Applicable Federal Rate
(as hereinafter defined) or (ii) the maximum nonusurious interest rate as in
effect from time to time which may be charged, contracted for, received or
collected by Payee in connection with the transactions contemplated by and
evidenced in this note and all documents executed in connection herewith (the
"Highest Lawful Rate").
The term "Applicable Federal Rate" as used herein shall mean the
applicable federal short-term rate for monthly compounding promulgated each
month by the U.S. Treasury Secretary pursuant to section 1274(d) of the Internal
Revenue Code of 1986, as amended (the "Code"), automatically fluctuating upward
and downward each month (without special notice to the Maker or any other
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