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• <br /> • <br /> day of each month in the amount of <br /> THOUSAND DOLLARS ($_,000.00). <br /> 3. Notwithstanding the requirement for payment of interest in <br /> paragraph 2, above, no interest in any one (1) year shall accrue if <br /> Maker fulfills the terms and conditions of the DDA, including <br /> that Maker has generated no less than twenty million dollars <br /> ($20,000,000.00) in annual taxable sales as certified by the <br /> • <br /> • Holder within thirty (30) days of receipt of the copies of sales tax <br /> • statements provided by Maker to Holder pursuant to the DDA. <br /> • Such certification may be revoked upon determination of error, <br /> • omission or misstatement in the copies of sales tax statements if <br /> such error, omission or misstatement results in Maker having <br /> generated less than twenty million dollars ($20,000,000.00) in <br /> annual taxable sales. In the event that, at the end of any given <br /> year, it is determined that Maker has fully complied with the <br /> terms and conditions of the DDA (including Maker's sales tax <br /> generation obligations thereunder), any interest previously paid <br /> by Maker during such year shall be refunded to Maker within <br /> thirty (30) days after evidence of such compliance has been <br /> provided to Holder. <br /> • 4. Upon Maker securing a construction loan in an amount sufficient <br /> to construct, and usable only for the construction of the <br /> automobile dealership improvements at 1066 -1072 Marina <br /> Boulevard and 1152 Marina Boulevard, as contemplated by the <br /> DDA, with the amount of the construction loan reasonably <br /> approved of by Holder as sufficient to complete the <br /> • <br /> improvements, Holder shall forgive and exonerate EIGHT <br /> HUNDRED THOUSAND DOLLARS ($800,000.00) of the <br /> . principal balance of this Note. <br /> 5. All unpaid interest and principal shall be due and payable on <br /> October _, 2001, less any amounts forgiven and exonerated' <br /> pursuant to section C.4 above. <br /> D. Maker may prepay, without penalty or premium, any amount of the <br /> principal and/or interest under this Note prior to the due date set forth in paragraph <br /> . C.5, above. Any amounts paid hereunder shall first be credited against accrued <br /> • interest and the balance shall be credited against principal. <br /> Promissory Note Page 2 of 4 <br /> Automall <br /> October 2, 1996 <br />