AG 1992 09 21 - Laserfiche WebLink

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calculated using a standard mortgage amortization schedule based upon the remaining years of the 20-year term of the original cormmitment that began amortizing on June 29, 1988. 4) Prepayment. Prepayment shall be closed for the eight-year period beginning October 1, 1992. The Issuer will then have the right to prepay the principal amount in full or in part, subject to the following prepayment schedule. The penalty amount will be a percentage of the principal amount due on the prepayment date. Year 9 (starting 10/1/2000) 10 11 and thereafter Penalty 102% ]01% 100% Except as herein emended, the terms and provisions of the Commitment Letter dated June 2, 1988 between the Bank and the Issuer and the financing that followed on June 29, 1988 provided to the Issuer shall be and remain in full force and effect. Upon return by the Issuer of a fully executed copy of this Commitment Letter by its expiration date of September 22, 1992, this Commitment will be considered accepted and will constitute an agreement obligating the Bank to make and the Issuer to accept the amendments in accordance with the terms and conditions set forth herein. If the executed copy is not received by the Bank by the expiration date noted herein, this commitment shall be considered null and void. If the commitment is accepted, all documents relating to the amendment must be received by the Bank by October 10, 1992 or the commitment shall be considered null and void. Sincerely, Timothy V. Crist Senior Vice President and Office Executive Accepted this__ day of , 19 WATER AND SEWER DISTRICT OF CABARRUS COUNTY BY: Chairman, Board of Comm/ssioners Water and Sewer District of Cabarrus County Accepted Copy Received by Bank Date: By: