Reso 1998-012 - Laserfiche WebLink

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EXHIBIT A PROMISSORY NOTE $22,000 Principal Amount Dated: February 2, 1998 San Leandro, California FOR VALUE RECEIVED, in installments as herein stated, the undersigned ("BORROWER") hereby promises to pay to the CITY OF SAN LEANDRO ("LENDER"), or designee, at its office at San Leandro, California, or at such other place as the holder hereof may designate, in lawful money of the United States of America, the principal sum of Twenty Two Thousand Dollars ($22,000 ), together with interest from the date hereof on unpaid principal balance at the rate of five percent (5%) per annum (computed on the basis of a 365 day year, actual days elapsed). Principal and interest shall be payable in 60 installment(s) of $415.27 in lawful money of the United States of America. The first payment will be due 60 days after the last disbursement from loan funds. This NOTE may be prepaid, at any time or from time to time, in whole or in part without premium or penalty. Any prepayment of principal must be accompanied by interest accrued but unpaid hereunder to the date of receipt of prepayment. Prepayments shall be applied first to accrued but unpaid interest and then to principal in reverse chronological order of installment maturity dates under this NOTE. This NOTE is the PROMISSORY NOTE defined in, and is entitled to the benefits of, the agreement entitled "LOAN AGREEMENT" (the "LOAN AGREEMENT"), dated concurrently herewith, between BORROWER and LENDER. Terms defined in the LOAN AGREEMENT shall, when used herein, have the same meaning as therein. This NOTE is either secured by, or entitled to the benefits, rights and privileges of, all instruments or agreements (collectively known as the "LOAN DOCUMENTS") executed contemporaneously between BORROWER and LENDER under the LOAN AGREEMENT. BORROWER hereby waives presentment, demand for payment, notice of dishonor, protest and notice of protest of this NOTE. BORROWER agrees to pay all costs of collection when incurred, including reasonable attorney's fees. BORROWER agrees to perform and comply with each of the covenants, conditions, provisions and agreements of BORROWER contained in the LOAN AGREEMENT, or any agreement or instrument evidencing, securing, or guaranteeing the indebtedness evidenced hereby. No alteration, amendment or waiver of any provision of this NOTE, the LOAN AGREEMENT, or any agreement or instrument evidencing or providing security for this NOTE, made by agreement of the holder hereof or any other person or party, shall constitute a waiver of any other term hereof, or otherwise release or discharge the liability of BORROWER under this NOTE. If an Event of Default (as defined in the LOAN AGREEMENT) shall occur and be continuing, the entire principal balance of this NOTE, together with interest which shall have accrued thereon, may be declared immediately due and payable in the manner and with the effect provided in the LOAN AGREEMENT. After occurrence of an Event of Default, unpaid accrued interest shall be added to the unpaid principal amount of this NOTE, and interest shall accrue thereon at the rate specified in this NOTE.