R-1984-07 - Laserfiche WebLink

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. ,e I.. . e e CITY OF LA PORTE La Porte, Texas PROMISSORY NOTE $85,000.00 La Porte, Harris County, Texas July 18, 1984 For value received, the CITY OF LA PORTE, a municipal corporation, Harris County, Texas, does hereby promise to pay to the order of FIRST CITY BANK OF LA PORTE, at its banking offices in the City of La Porte, Harris County, Texas, not to execeed the sum of EIGHTY-FIVE THOUSAND AND NO/IOO DOLLARS ($85,000.00), in legal and lawful money of the United States of America, with interest thereon from date hereof until maturity at the rate of eight and six-tenths percent (8.6%) per annum1 the interest payable with principal; matured unpaid principal and interest shall bear interest at the rate of ten percent (10%) per annum from date of maturity until paid. This note is due and payable as follows, to-wit: In 36 equal monthly installments of TWO THOUSAND SIX HUNDRED FORTY-SEVEN DOLLARS AND NINETY-THREE CENTS ($2,647.93) each, including interest at the rate of eight and six-tenths percent (8.6%) per annum on the unpaid balance of principal, the first of such monthly installments to be due and payable on or before September 1, 1984, and a like installment being due and payable on the 1st day of each succeeding calendar month, until the full principal 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 percent (10%) additional on the . amount of principal and interest then owing, as attorney I s fees.