R-1982-07 - Laserfiche WebLink

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. . . . r. .. . e CITY OF LA PORTE La Porte, Texas PROMISSORY NOTE $35,000.00 La Porte, Harris County, Texas, May 10, 1982 For value received, the CITY OF LA PORTE, a municipal corporation, Harris Coun.ty, Texas, does hereby promise to pay to the order of FIRST CITY BANK OF LA PORTE, at its banking off ices in the City of La Porte, Harris County, Texas, not to exceed the sum of THIRTY FIVE THOUSAND AND NO/IOO DOLLARS ($35,000.00), in legal and lawful money of the Uni ted States of America, with interest thereon from date hereof until maturity at the rate of eight and one-fourth per cent (8 l/4%) per annum; the interest payable with principal; matured unpaid principal and interest shall bear interest at the rate of ". ~ ten per cent (10%) p"er annum from date of maturi ty until paid. This note is due and payable as follows, to-wit: In 36 equal monthly installments of ONE THOUSAND ONE HUNDRED AND 82/100 DOLLARS ($1,100.82) each, including interest at the rate of eight and one- fourth per cent (8 1/4%) per annum on the unpaid balance of principal, the first of such monthly installments to be due and payable on or before June 10, 1982, and a like monthly installment being due and payable on the same day of each succeeding calendar month, until the full prin- cipal balance, and all interest due thereon, shall have been fully and finally paid. In the event default is made in the prompt payment of this note when due or declared due, and the same is placed in the hands of an attorney for collection, or suit is brought on same, or the same is collected through Bankruptcy or other judicial proceedings, then the makers agree and promise to pay ten per cent (10%) additional on the amount of principal and interest. then owing, as attorney's fees. Each maker, surety and endor~er of this note expressly waives all notices, demands for payment, presentations for payment, notices of intention to accelerate the maturity, protest and notice of pro- test, as to this note, as to this note and as to each, every and all installments hereof.